STAGNATION OF BITCOIN PRICE FOR WEEKS - page 2.

Dr.Bitcoin_Strange

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Quote from: EBMARYAM on May 24, 2023, 01:14:17 AM

Bitcoin is content to trade towards the bottom of its previous trading range of $26,500 to $30,000.
Currently it's trading at $26,784.00.
Invest what you can afford to lose, it's good to hodl BTC if you can afford to lose what you intend to invest or what you invested 🌝

You know one thing that gets so funny at times is that after this series of analyzing the market and the economic situation, that's when Bitcoin goes boom 🤯💥, then, there will be some kind of wondering about whether we really know what is making the Bitcoin price spike. It's normal; I have experienced such a situation a few times. But it's really important to analyze the market and let investors know what risks are likely to occur if the market goes different ways. And for "invest what you can afford to lose, it has always been the Bitcoin investment approach for many people, and I think it's extending to newbies more steadily.

Fivestar4everMVP

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Well, I would still want to believe that the kind of stability in the price of bitcoin currently is another buying opportunity for those who have extra fund/money laying around somewhere with no use for it at the moment and moving forward into the future..
If I have such money right now, I will be buying more bitcoins because I am highly optimistic and confident that the price will jump up when investors least expect it, lets not forget that bitcoin halving is coming up next year, it's an event every bitcoin holder looks forward to, and I believe a bull season is coming again.

TheUltraElite

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So anyway, I applied as a merit source :)

Let the price remain it will not after a certain time. I would say enjoy the stagnation while it lasts, because this can be a time to decide about assets other than crypto and accumulate them rather than waste time pondering what will happen to bitcoin.

Because the chances are binary - it will either rise or will drop. If it rises wait for it break even and then sell crossing your buying point and if it drops buy more when you feel comfortable.

Keeping your money in more assets gives you the advantage to not get frustrated over one market. You could be focusing on another one while bitcoin makes its move and then you can respond. Dont get anxious about why it is stagnant, it is a game of patience.

kryptqnick

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It hasn't been that long to call is stagnation, IMO. It's just a typical correction, and Bitcoin often stays within small margins (between $18k and $20 or, as now, between $26k and $28k) for a while during the bear market. I don't think that the US will really default on its debt. They always avoid it, even though sometimes they get pretty close. It's only a few days left till June 1, so the concerns will probably resolve soon. Still, that doesn't mean Bitcoin will immediately go up, as there's no causal relation between the two events.

summonerrk

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Quote from: EBMARYAM on May 24, 2023, 01:14:17 AM

Bitcoin's price holds steady near $27,000 as investors consider debt ceiling developments. CoinDesk's former head of research writes that with much government efforts in such large, emerging countries as PAKISTAN and NIGERIA to curb crypto activity, citizens there seem to be turning to digital assets as a hedge.
The most valuable cryptocurrency in terms of market value (BTC) was currently trading at around $26,866, up 0.4%. According to CoinDesk data, BTC has been trading between $26,500 and $27,500 for nearly two weeks due to macroeconomic uncertainty. Crypto traders are uncertain as to how Bitcoin will behave over the next few days, weeks or even months.
The probability of default is quite low, but if it does, it might feel like a blow to risk appetite, sending cryptos sharply lower.
Bitcoin is content to trade towards the bottom of its previous trading range of $26,500 to $30,000.
Currently it's trading at $26,784.00.
Invest what you can afford to lose, it's good to hodl BTC if you can afford to lose what you intend to invest or what you invested 🌝

The price behaves this way because there comes a moment of uncertainty when no one knows what will happen next with the price. On average, we are locked in 20-30k, for less in 25-30k and so the price can float between these values until JULY. But to be honest, I think it will fall to 20k, because we can't fly up without being at the bottom.

I attached a chart from my tradingview in which I focus on graphical analysis, specifically on resistance support levels.

AmoreJaz

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Quote from: Yatsan on May 25, 2023, 06:33:04 PM

The price move sideways in preparation, more likely, to either pump or dump. But I guess the price is more likely to fall this time due to CME Gap around $21k. Once the market price breaks the barrier or resistance around $24.8k, then this may happen. Another thing is if the market would be again manipulated by big investors which could trigger an uprise movement. We can see this with ARPA wherein the price is not falling continuously and is coming back toits peak many times while the market price of Bitcoin is still down. Given that there's no certainty with its possible action, much better is for us to wait until it break aither upper or lower resistance.

the positive thing that i am seeing here is that this is still a good opportunity to collect some satoshis while the price level is not that high. though we don't know when it will go up again, at least the probability of going up is always there. only a matter of time to see it rising again.

Woodie

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Was listening to some news earlier today and Biden seems to have given his word that there won't be any debt defaults which is good for the US dollar ,but because of uncertainty and the unlike... I get the feeling that we might get capital injected into crypto as investors hedge against the green buck as a way of playing it safe.

Btw the Stagnation of btc price could this be just a mere consolidation happening just like any other market ??

Yatsan

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The price move sideways in preparation, more likely, to either pump or dump. But I guess the price is more likely to fall this time due to CME Gap around $21k. Once the market price breaks the barrier or resistance around $24.8k, then this may happen. Another thing is if the market would be again manipulated by big investors which could trigger an uprise movement. We can see this with ARPA wherein the price is not falling continuously and is coming back toits peak many times while the market price of Bitcoin is still down. Given that there's no certainty with its possible action, much better is for us to wait until it break aither upper or lower resistance.

milewilda

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Quote from: teosanru on May 25, 2023, 02:22:51 PM

Quote from: EBMARYAM on May 24, 2023, 01:14:17 AM

Bitcoin's price holds steady near $27,000 as investors consider debt ceiling developments. CoinDesk's former head of research writes that with much government efforts in such large, emerging countries as PAKISTAN and NIGERIA to curb crypto activity, citizens there seem to be turning to digital assets as a hedge.
The most valuable cryptocurrency in terms of market value (BTC) was currently trading at around $26,866, up 0.4%. According to CoinDesk data, BTC has been trading between $26,500 and $27,500 for nearly two weeks due to macroeconomic uncertainty. Crypto traders are uncertain as to how Bitcoin will behave over the next few days, weeks or even months.
The probability of default is quite low, but if it does, it might feel like a blow to risk appetite, sending cryptos sharply lower.
Bitcoin is content to trade towards the bottom of its previous trading range of $26,500 to $30,000.
Currently it's trading at $26,784.00.
Invest what you can afford to lose, it's good to hodl BTC if you can afford to lose what you intend to invest or what you invested 🌝

The last line is pretty much correct. Only invest in BTC the amount you can afford to lose, if you'll invest amount more than that the market fluctuations will always keep your head stuck in this mess. Even though it's too low right now from the all time high, so obviously it'll move high in coming months, yet if it falls even 50% from current point before moving up you'll hastily take a wrong decision and end up losing money.

This is one of the golden rules when you do touch up bitcoin or crypto investment is on which you should only invest on the amount which you can afford to lose or else you would really be bothered on how your assets or coins would really be that so volatile when it comes into its prices. This is why knowledge and learnings is something that you should really know about it first beforehand once you do decide to get involved with this market. Stagnation or somewhat making having that sideways movement on bitcoins price is never new. We had been on this before or on how many times and honestly this is really the hardest time for us to make us some position because you cant really make out some technical analysis into it on where it would be possibly be heading next. This is why on the time that you are unsure of your decisions then it is really better
not to make any position whether buy or sell decision because you would really might be able to get or make such mistake but of course we know that we cant really benefit out if we
wont be taking any risks and this is where it would really be depending.

teosanru

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Quote from: EBMARYAM on May 24, 2023, 01:14:17 AM

Bitcoin's price holds steady near $27,000 as investors consider debt ceiling developments. CoinDesk's former head of research writes that with much government efforts in such large, emerging countries as PAKISTAN and NIGERIA to curb crypto activity, citizens there seem to be turning to digital assets as a hedge.
The most valuable cryptocurrency in terms of market value (BTC) was currently trading at around $26,866, up 0.4%. According to CoinDesk data, BTC has been trading between $26,500 and $27,500 for nearly two weeks due to macroeconomic uncertainty. Crypto traders are uncertain as to how Bitcoin will behave over the next few days, weeks or even months.
The probability of default is quite low, but if it does, it might feel like a blow to risk appetite, sending cryptos sharply lower.
Bitcoin is content to trade towards the bottom of its previous trading range of $26,500 to $30,000.
Currently it's trading at $26,784.00.
Invest what you can afford to lose, it's good to hodl BTC if you can afford to lose what you intend to invest or what you invested 🌝

The last line is pretty much correct. Only invest in BTC the amount you can afford to lose, if you'll invest amount more than that the market fluctuations will always keep your head stuck in this mess. Even though it's too low right now from the all time high, so obviously it'll move high in coming months, yet if it falls even 50% from current point before moving up you'll hastily take a wrong decision and end up losing money.

Silberman

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Quote from: lewisrafael40 on May 25, 2023, 12:15:28 AM

When governments try to put a leash on cryptocurrencies, it's like trying to hold back a tidal wave with a bucket. People will always find a way to embrace digital assets as a hedge against traditional systems. It's time to ride the wave, my friends!

Bitcoin was designed by Satoshi to be censorship resistant, this is why it is decentralized, if it was centralized you can be sure the governments would have destroyed it already or they will be on their way to do so, as it was the case of other currencies that were created independently but that were centralized, so if governments want to try to regulate or forbid bitcoin they can try if they want, however if their regulations are too strict you can be sure that a great deal of the people will simply not care about their regulations and keep using bitcoin as usual.

lewisrafael40

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When governments try to put a leash on cryptocurrencies, it's like trying to hold back a tidal wave with a bucket. People will always find a way to embrace digital assets as a hedge against traditional systems. It's time to ride the wave, my friends!

DeathAngel

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Sustained periods of low volatility usually precede a big move. The question is, which direction will that move be?
Like OP says, the chances of default are probably quite low, purely because allowing that would drive the world into real financial trouble. I am not sure the Dems will allow that to happen with an election nearing. The people would blame a default on them & they would lose voters.

So any way, expect a big move this quarter, we just don’t know when. We could get a debt ceiling increase at the 11th hour. In that scenario we might dump hard first but then pump higher once an agreement is reached.

Honnet43

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Remember, only invest what you're willing to part ways with. If you can dance to the hodl tune and ride the BTC rollercoaster without losing sleep, you're golden.

SquirrelJulietGarden

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Quote from: GreatArkansas on May 24, 2023, 09:09:26 PM

I believe with the current behavior of Bitcoin's price is very bad for most traders and other altcoins.
Because when Bitcoin does these very volatile actions, dumps, and sideways, look at other altcoins, they are bleeding. I believe that we will still experience this until end of this month.

This current behavior of Bitcoin price causes uncertainty and fear for traders. They don't know what to do but they are not experienced enough to exit the market. Exit the market is the best choice at this time when you are unsure what to do, what Bitcoin will move, what altcoins will react to Bitcoin next price movement.

Exit the market will prevent your loss and give you time to refresh your mind. You might miss chance to get profit but is profit the most important thing for traders? It's not, their capital is most important. You can miss profit but if you can protect your capital, you do a great job as a trader.

GreatArkansas

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Quote from: EBMARYAM on May 24, 2023, 01:14:17 AM

Bitcoin's price holds steady near $27,000 as investors consider debt ceiling developments. CoinDesk's former head of research writes that with much government efforts in such large, emerging countries as PAKISTAN and NIGERIA to curb crypto activity, citizens there seem to be turning to digital assets as a hedge.
(....)

I believe with the current behavior of Bitcoin's price is very bad for most traders and other altcoins.
Because when Bitcoin does these very volatile actions, dumps, and sideways, look at other altcoins, they are bleeding. I believe that we will still experience this until end of this month.

umbara ardian

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This is a good thing because the price of bitcoin has been increasing in the early months of this year, has been on a downtrend, and has stabilized at $27,000. A good price for many investors who want to invest more. In addition, this is also the time when bitcoin is accumulating again for an upcoming boom. This helps investors buy back and consider a reasonable price range to follow. However, this is still only in the short-term time frame, and in the long-term, it is necessary to observe whether bitcoin has really entered a new cycle. It all depends on how you see the market going and what you do about it.

Die_empty

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OP I don't know how long you have been in the bitcoin industry. But I have been privileged to be in this space for about two years now and I will gladly tell you that this year has been one of my best. Last year the industry faced a lot of problems that made many people come up with different predictions. But Bitcoin came out stronger and better.

Currently, I don't think that the US debt ceiling deal will affect the price of bitcoin. Even if it does it will be minimal and short termed. Maybe this news would have caused me to experience FUD, one year ago. Now there is no going back on my Bitcoin investment plan. I don't care how low the price goes, I am focused on reaching the benchmark.

BVeyron

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Quote from: EBMARYAM on May 24, 2023, 01:14:17 AM

Bitcoin's price holds steady near $27,000 as investors consider debt ceiling developments. CoinDesk's former head of research writes that with much government efforts in such large, emerging countries as PAKISTAN and NIGERIA to curb crypto activity, citizens there seem to be turning to digital assets as a hedge.
The most valuable cryptocurrency in terms of market value (BTC) was currently trading at around $26,866, up 0.4%. According to CoinDesk data, BTC has been trading between $26,500 and $27,500 for nearly two weeks due to macroeconomic uncertainty. Crypto traders are uncertain as to how Bitcoin will behave over the next few days, weeks or even months.
The probability of default is quite low, but if it does, it might feel like a blow to risk appetite, sending cryptos sharply lower.
Bitcoin is content to trade towards the bottom of its previous trading range of $26,500 to $30,000.
Currently it's trading at $26,784.00.
Invest what you can afford to lose, it's good to hodl BTC if you can afford to lose what you intend to invest or what you invested 🌝

Stable btc price in USD doesn't always mean stability of its real price. Now there is a high risk of usd and other fiats inflation. So it can turn out to be something like btc is stable in usd, but usd is not stable in real values. I think there is a chance to save some money by hodling btc during inflation. However, the chance of successful money saving via crypto in case of inflation is one of the most interesting riddles in the world of cryptocurrencies.

BIT-BENDER

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Quote from: avikz on May 24, 2023, 07:30:19 AM

I would say this is better than seeing a drop! If I take an example of the stock market, usually it stabilizes for couple of days/weeks before taking a leap. It is making the foundation stronger with demand and supply stability. That's exactly what's happening in crypto market now.

There is a huge amount of uncertainty around the world. That's why we are seeing gold prices are constantly increasing. Among this turmoil, if bitcoin price is showing signs of stability, that's certainly good.

The crypto-currency market still follows the demand and supply curves just like most commodities, that's the major or primary factor, but there are still other sub factors like news, speculation this factors are louded by FOMO (fear of missing out) and FUD (Fear uncertainty and doubt) it can either lead to panic buy or panic sell which always affect crypto-currency prices.

I think the price of Bitcoin and many other coins would be more stable if the news and speculation can be put in check, but that's not going to be completely possible and in most alts whales manipulate the market true their actions, one off biggest joy now is that the forth coming halving would be a good news so we may see a positive drive in the market.

Topic: STAGNATION OF BITCOIN PRICE FOR WEEKS - page 2. (Read 449 times)