The low support level may still be tested during 2023. - page 3.

jaberwock

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Quote from: Chainsmokers on June 17, 2023, 05:20:23 AM

Good news is getting more and more coming and I'm sure the Bitcoin support level has been reached at the end of 2022 which reached $ 16k,
and now the bitcoin price is still above $ 20k I don't think this year has touched a new support level anymore but we in 2023 can reach this level resistance,
moreover Good news from China can be a booster for the crypto market.

I think you are thinking about the Bitcoin halving because we are getting closer to it and many people feel bullish about it. There are other good news too like the China re-allowing cryptos but I think that wasn't new anymore. As of now, we mostly get a bad news about the crypto regulations and targeted country was the US.

Let's just hope that it won't escalate from banning the cryptos there because that will make the price dump even more. Each year, there will always be a support level for the crypto prices. In 2022, it was $16k but this year I think it was $27k so far although this might change later on because we still have more months left to finish the 2023.

Don Pedro Dinero

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Quote from: indah rezqi on June 14, 2023, 04:19:10 PM

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Based on past cycles it is unlikely, but not impossible. The point is that it is better to look at the big picture and think about where bitcoin will be in 4 or 8 years for example, and you will be much better off if you buy bitcoin now and you hold it until then than if you do not. If it goes down a bit in the next few months it is a noise that should not bother us.

SirLancelot

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Quote from: michellee on June 15, 2023, 08:09:31 AM

Bitcoin can hit prices below $20k again but hopefully, people won't be shocked and panicked, especially since the price is now dropping again. The test for Bitcoin may be even tougher than before because if the decline persists, some people may not be ready to see it.

And market conditions are now more difficult to predict and coupled with the government tightening the movement of crypto, it can limit the movement of crypto and get people in trouble.

We must be aware of the current situation and prepare a budget to buy Bitcoin at low prices so that we can use this moment to accumulate more Bitcoins. And don't panic if we see the price drop and hold on to Bitcoin and buy it again because that is a good opportunity to buy again.

If the dump unexpectedly occurs like tomorrow let say, then people are going to be shocked because they believe that the price is getting stable and is continuing to the bullish state but Don't worry because being shocked is only just an impression. They can still think normally and will probably hold on or buy more coins.

The natural market conditions were supposed to be easy to predict, if only there are no news that can unexpectedly occur. Each bitcoiners are fully aware about the situation of BTC. Maybe some will start buying now that the price is still lower than last time or some will choose to hold for a while and will wait for better opportunities to come.

GeorgeJohn

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Quote from: indah rezqi on June 14, 2023, 04:19:10 PM

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

You can say with full assurance that it won't get below twenty thousand in this year 2023, because Bitcoin predictions doesn't work perfectly or accurately, whosoever that's predicting the price of bitcoin is just making assumptions of bitcoin from my perspective, so therefore I believe that bitcoin has to accelerate in price due to market conditions of demands and supply and secondly the price of bitcoin can be affected through a negative information or wrong speculation of cryptocurrency generally.

o48o

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Quote from: Oasisman on June 18, 2023, 10:03:54 PM

Well, I guess its been how many weeks now since the SEC sued Coinbase and Binance now and it looks like bitcoin price did not react that much threatening to touch the $20k level. Though it attempts to go below $25k after the SEC wants to freeze binance assets but immediately got back up when the judge decides to just let binance do their business as is while the investigations are on going. So, I don't think bitcoin may have fall at that level as the market sentiments are kind of positive right now. People seems buying the dip and trying to accumulate as prep for the upcoming bullrun that the halving may cause next year.

Suing someone isn't really that damaging. SEC charged Ripple 2 years ago and we are still watching that to unravel.

What happened is that SEC decided that many altcoins were securities, and now they are suing exchanges for allowing buying and selling of securities all along.
Keeping in mind that those weren't securities just while ago.

So now CEXes are unregistered security exchanges. Bittrex just gave up. There are many things that are weird in this but funniest thing is that either side could wint this. We are in uncharted waters and crypto is stlll relatively new. Regulations can still change a lot, even during the court fight. One thing i am certain is that this will get way more complex then it already is.

indah rezqi

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Quote from: flyingcarpet on June 19, 2023, 12:57:12 AM

Quote from: indah rezqi on June 14, 2023, 04:19:10 PM

>snip

Even if Bitcoin drops below 20k, they will immediately recover and come out again.

I don't expect $20k to test support or even drop below it. But still, it was the worst possibility I ever thought when SEC attacked Binance and several other platforms.

Quote from: flyingcarpet on June 19, 2023, 12:57:12 AM

Most people don't sell bitcoin anymore. Because they have been holding bitcoin at these levels for a long time. I don't think it will go below 20k, but I'm not very sure as we know the days when the market surprised us. We need to have money to buy in a possible decline. This is how we can plan.

I would also like to point out that. For me it doesn't matter if the bitcoin price is 24k or 19k. I'm waiting for bitcoin to reach its target. This target is much, much higher than these levels.

Gradual price recovery is what I expected instead of a dip below $20k. However, some people may have made their own analysis that the sideway condition or the potential for a dump is still too big to ignore at this time. So far the bitcoin price has held above $26k for the few days since its last correction, but for further hope I think $27k is the closest resistance to test. Hopefully it can be break in a few hours.

tygeade

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Quote from: Yaunfitda on June 19, 2023, 06:50:54 AM

Quote from: flyingcarpet on June 19, 2023, 12:57:12 AM

Even if Bitcoin drops below 20k, they will immediately recover and come out again. Most people don't sell bitcoin anymore. Because they have been holding bitcoin at these levels for a long time. I don't think it will go below 20k, but I'm not very sure as we know the days when the market surprised us. We need to have money to buy in a possible decline. This is how we can plan.

I would also like to point out that. For me it doesn't matter if the bitcoin price is 24k or 19k. I'm waiting for bitcoin to reach its target. This target is much, much higher than these levels.

The thing is that it's going to be institutional investors who are going to buy those cheap bitcoins, maybe we can hear BlackRock or MicroStrategy very happy to see the price going to $20k or below.

But there could be smart investors around us here, buying in the dip and price decline and going to swim with the whales. And even for those who are not going to buy, just continue to HODL, there will be no losses if you don't sell so you might as well remain calm if ever we see the price at $20k again and been retested.

I think the logic is that we have seen this before, when the yare starting to buy, that means good things for the near future of bitcoin. I mean we were down, even more down this during 2022 and there weren't this many buys, and yet lately we are hearing more and more buying, that means they must think that the increase is coming close and it might happen anytime now.

When you think about it that way, it is not going to be that much of an easy step and we could end up with a big trouble later on. I hope that it gets better and we reach to a better point, because if we can do that then we are going to be fine, it will be fine. I think it is not an easy task, but believing in what you can do with what the future shows is something we need to start realizing, these companies already did.

Yaunfitda

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Quote from: flyingcarpet on June 19, 2023, 12:57:12 AM

Quote from: indah rezqi on June 14, 2023, 04:19:10 PM

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

Even if Bitcoin drops below 20k, they will immediately recover and come out again. Most people don't sell bitcoin anymore. Because they have been holding bitcoin at these levels for a long time. I don't think it will go below 20k, but I'm not very sure as we know the days when the market surprised us. We need to have money to buy in a possible decline. This is how we can plan.

I would also like to point out that. For me it doesn't matter if the bitcoin price is 24k or 19k. I'm waiting for bitcoin to reach its target. This target is much, much higher than these levels.

The thing is that it's going to be institutional investors who are going to buy those cheap bitcoins, maybe we can hear BlackRock or MicroStrategy very happy to see the price going to $20k or below.

But there could be smart investors around us here, buying in the dip and price decline and going to swim with the whales. And even for those who are not going to buy, just continue to HODL, there will be no losses if you don't sell so you might as well remain calm if ever we see the price at $20k again and been retested.

LogitechMouse

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That blue line is the 200 Daily Moving Average, and that indicator is a very strong indicator on what is the current trend of the market. We know that there are no certainties in the market right, but just by looking that bounce that happened just a few days ago, I guess it's pretty obvious that the bulls are still in control despite of what happened in the market currently. It touched the 200 Daily MA, tested it, and went back up again.

Of course like what OP said, $20,000 is still possible, and we might see it being re-tested, but what are the chances of it to happen? As long as there is no FTX-like event that's happening in the next months, or this year then I don't expect that it will get re-tested this year at least, or we might not see Bitcoin going to that price again at all.

Anyway like what others are doing here, I'm just focus on Dollar-Cost Averaging, and preparing my exit strategy when the bull run comes.

flyingcarpet

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Quote from: indah rezqi on June 14, 2023, 04:19:10 PM

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

Even if Bitcoin drops below 20k, they will immediately recover and come out again. Most people don't sell bitcoin anymore. Because they have been holding bitcoin at these levels for a long time. I don't think it will go below 20k, but I'm not very sure as we know the days when the market surprised us. We need to have money to buy in a possible decline. This is how we can plan.

I would also like to point out that. For me it doesn't matter if the bitcoin price is 24k or 19k. I'm waiting for bitcoin to reach its target. This target is much, much higher than these levels.

Oasisman

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Quote from: goaldigger on June 18, 2023, 04:53:54 PM

Quote from: Chainsmokers on June 17, 2023, 05:20:23 AM

Good news is getting more and more coming and I'm sure the Bitcoin support level has been reached at the end of 2022 which reached $ 16k,
and now the bitcoin price is still above $ 20k I don't think this year has touched a new support level anymore but we in 2023 can reach this level resistance,
moreover Good news from China can be a booster for the crypto market.

Unfortunately there’s no good news coming into this market as of the moment as many are still focus on the issue of CEX and SEC, well let’s all hope that the price of BTC will not touch the price of below $20k and will continue to hold its current position. There’s a lot of market pressure and FUD but i know this is just temporary. Hold more and wait until its recover again, bull market is still the target for this year.

Well, I guess its been how many weeks now since the SEC sued Coinbase and Binance now and it looks like bitcoin price did not react that much threatening to touch the $20k level. Though it attempts to go below $25k after the SEC wants to freeze binance assets but immediately got back up when the judge decides to just let binance do their business as is while the investigations are on going. So, I don't think bitcoin may have fall at that level as the market sentiments are kind of positive right now. People seems buying the dip and trying to accumulate as prep for the upcoming bullrun that the halving may cause next year.

Captain Corporate

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I think its going to be not that difficult to handle this time around. I get that 2022 was a similar year and that was a problem for all of us but the reality is that if we could handle 2022 then we can definitely handle another test. There are way too many bad things happening at the time but that doesn't mean that its going to be a bad result on the long run, all those bad things that made it go down, could be gone in a week if there is a good thing. Think about it this way, we haven't been above 30k for a long time aside from that one time in April right? So that means 30k+ is a good thing, we have been dropping like crazy and 25k is the norm now, so if one good news happens and then it skyrockets to 30k, suddenly all those bad things will feel like it didn't happen at all.

goaldigger

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Quote from: Chainsmokers on June 17, 2023, 05:20:23 AM

Good news is getting more and more coming and I'm sure the Bitcoin support level has been reached at the end of 2022 which reached $ 16k,
and now the bitcoin price is still above $ 20k I don't think this year has touched a new support level anymore but we in 2023 can reach this level resistance,
moreover Good news from China can be a booster for the crypto market.

Unfortunately there’s no good news coming into this market as of the moment as many are still focus on the issue of CEX and SEC, well let’s all hope that the price of BTC will not touch the price of below $20k and will continue to hold its current position. There’s a lot of market pressure and FUD but i know this is just temporary. Hold more and wait until its recover again, bull market is still the target for this year.

Questat

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Quote from: superman184 on June 18, 2023, 10:30:25 AM

Quote from: fzkto on June 18, 2023, 08:49:13 AM

No one knows where bitcoin can fall, but still there is a lot of negative news from sec and binance right now, but bitcoin didn't fall much because of that and even bounced back from support around 25k. Just the fact that bitcoin hardly reacts to negative news tells me that we are unlikely to see 15k again. That would be very good for those who didn't have time to buy in January. So I don't see the logic for the price to fall that low again.

This is probably due to the large number of people who still want to buy Bitcoin around $25K so that the support of many people makes the price of Bitcoin still tend to increase at this time even though it only happens slowly. And I also think that Bitcoin is likely to be a little more difficult to get back under $20K again if there is still stronger support in terms of buying every month even though at this time Bitcoin is still under $30K, but I also still really believe that Bitcoin will continue to improve to surpass $30K in the next month.

When it dumps, people are buying and whales are accumulating more that is why it won't make the price of Bitcoin fall hard but pump back again. If we could hear about manipulation, it is something that really happens in the crypto market and we can't expect that it all in the inclining price trend as a decline was also possible.

Reaching back below $20k is not impossible but we believe it won't because of the strong support that we have these days and besides, we're not going bearish as certainly happen. We're moving out of that situation, it dumps somehow but will then recover fast.

superman184

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Quote from: fzkto on June 18, 2023, 08:49:13 AM

No one knows where bitcoin can fall, but still there is a lot of negative news from sec and binance right now, but bitcoin didn't fall much because of that and even bounced back from support around 25k. Just the fact that bitcoin hardly reacts to negative news tells me that we are unlikely to see 15k again. That would be very good for those who didn't have time to buy in January. So I don't see the logic for the price to fall that low again.

This is probably due to the large number of people who still want to buy Bitcoin around $25K so that the support of many people makes the price of Bitcoin still tend to increase at this time even though it only happens slowly. And I also think that Bitcoin is likely to be a little more difficult to get back under $20K again if there is still stronger support in terms of buying every month even though at this time Bitcoin is still under $30K, but I also still really believe that Bitcoin will continue to improve to surpass $30K in the next month.

fzkto

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Quote from: savetheFORUM on June 16, 2023, 10:12:09 PM

Quote from: Oshosondy on June 14, 2023, 04:35:10 PM

Bitcoin can not get to $15500 again, but bitcoin can still get to $20000 once more before going to all-time-high. I am waiting for $20000 once again for me to buy more. If bitcoin do not fall to $20000 again, I will buy some weeks to halving.

I too will advice people to DCA. It is a good strategy. An excellent strategy when bitcoin has decreased very well.

How can you be so sure that Bitcoin won't fall as low as $15500 once again? We all know how unpredictable cryptocurrencies can be, especially Bitcoin which has always surprised everyone whether with its significant growths or with its unexpected drops. History can always repeat itself and we can't really be sure whether the price can drop to that level once again especially if there are so many bad things happening for cryptocurrencies.

That being said, it is always better to simply do DCA instead of waiting for the perfect spot to buy because you will barely be able to achieve that successfully, and who knows what the price would be some weeks before the halving? It might be higher than the current price which will be a bad deal for you obviously.

No one knows where bitcoin can fall, but still there is a lot of negative news from sec and binance right now, but bitcoin didn't fall much because of that and even bounced back from support around 25k. Just the fact that bitcoin hardly reacts to negative news tells me that we are unlikely to see 15k again. That would be very good for those who didn't have time to buy in January. So I don't see the logic for the price to fall that low again.

Jating

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Quote from: Chainsmokers on June 17, 2023, 05:20:23 AM

Good news is getting more and more coming and I'm sure the Bitcoin support level has been reached at the end of 2022 which reached $ 16k,
and now the bitcoin price is still above $ 20k I don't think this year has touched a new support level anymore but we in 2023 can reach this level resistance,
moreover Good news from China can be a booster for the crypto market.

And it's good to see that somewhat the bloodshed has stop, we are still very much in the $26k range. We've recovered some after the start of this week when the price drop <$25k.

I'm not really sure what good news you are waiting from China, but I highly doubt it. And I will take everything with a grain of salt coming from them. The best thing to do is just remain calm, and wait for a true bull run, not artificial boost in the price or some form of manipulation. But remember though that we are still in the bear market so the price could drop anytime but hopefully there's no more lowest lows for us.

Chainsmokers

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Good news is getting more and more coming and I'm sure the Bitcoin support level has been reached at the end of 2022 which reached $ 16k,
and now the bitcoin price is still above $ 20k I don't think this year has touched a new support level anymore but we in 2023 can reach this level resistance,
moreover Good news from China can be a booster for the crypto market.

Hypnosis00

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Quote from: Yatsan on June 16, 2023, 06:31:27 PM

But no matter ehat happens, best thing is to just hold. In order to do this, manage the risk on investing an amount because it would allow you to stretch you tolerance with bearish market patterns.

That is the most important thing that we are supposed to do because no matter what we do, we can never tell what makes the market dump or pump. Could be the SEC or anything as even the news also have an influential impact on the market trend. The dumps are not a worrying part of crypto because as long as we are holding, we're not losing any cents but the moment that we are panicking and selling off our coins, that's the time we incur losses and blame the market.
Trust and Patience are needed in crypto investment -and I think it was simple to understand.

savetheFORUM

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Quote from: Oshosondy on June 14, 2023, 04:35:10 PM

Bitcoin can not get to $15500 again, but bitcoin can still get to $20000 once more before going to all-time-high. I am waiting for $20000 once again for me to buy more. If bitcoin do not fall to $20000 again, I will buy some weeks to halving.

I too will advice people to DCA. It is a good strategy. An excellent strategy when bitcoin has decreased very well.

How can you be so sure that Bitcoin won't fall as low as $15500 once again? We all know how unpredictable cryptocurrencies can be, especially Bitcoin which has always surprised everyone whether with its significant growths or with its unexpected drops. History can always repeat itself and we can't really be sure whether the price can drop to that level once again especially if there are so many bad things happening for cryptocurrencies.

That being said, it is always better to simply do DCA instead of waiting for the perfect spot to buy because you will barely be able to achieve that successfully, and who knows what the price would be some weeks before the halving? It might be higher than the current price which will be a bad deal for you obviously.

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