The price of bitcoin is not rising soon!. - page 6.

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Quote from: Rupok on May 12, 2023, 10:45:30 AM

I don't agree with you, a few days ago we noticed Bitcoin reaching 30k. Now maybe the price has dropped to 27k but expect the price to go up to $40k.Everyone is expecting BTC to pump massively and they have predicted that people are starting to feel it from this year. As you say for sure that the market will not pump, your prediction may not be correct.The Bitcoin market is always uncertain, but looking at some portfolios in the Bitcoin market we can expect that we will reach a bull market this year.You will understand if you analyze properly

People are mostly bullish about the long term, the short-term outcome doesn't seem too promising as we can see the market is in decline mode at the moment. $22k looks like a more reasonable target right now than $35k since it is in a downtrend and there is no strong support for it to stop it and make it go up again that soon.

Bitcoin or the market wouldn't pump only because people are predicting it will pump, it needs buying pressure and we are not getting that at the moment, maybe because everyone wants it to drop more so that they can buy cheaper.

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Quote from: Godlovesyou on May 11, 2023, 10:51:41 AM

The movement of price index has clearly show that the price will not rise this year, is almost half a year now since the price drops, this is far beyond inflation and fiscal policy of the government, I think bitcoin is suffering heavy weight withdrawals and it might end up been this Stuart for the year.

Out of 100% of international market chats bitcoin is beneath the range price counts of crude oil, gas, gold and diamond, that's means bitcoin is far from rising soon.
What do you think?

It is not entirely true that this year the price of bitcoin will definitely not increase.
Repeatedly at every opportunity we often hear that going up and down is a normal thing to happen.

The situation from May to today's Bitcoin price is indeed experiencing a decline from $ 30k.
You don't need to worry if the index movement says that this year it won't go up, but you have to think about what will happen with the current total supply which has reached around 92%.
How much have we saved Bitcoin when Bitcoin experienced scarcity.

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Quote from: Rupok on May 12, 2023, 10:45:30 AM

I don't agree with you, a few days ago we noticed Bitcoin reaching 30k. Now maybe the price has dropped to 27k but expect the price to go up to $40k.Everyone is expecting BTC to pump massively and they have predicted that people are starting to feel it from this year. As you say for sure that the market will not pump, your prediction may not be correct.The Bitcoin market is always uncertain, but looking at some portfolios in the Bitcoin market we can expect that we will reach a bull market this year.You will understand if you analyze properly

The year is looking very bullish already, Bitcoin has pump from $14,500 to cross a price of $30,500. The price is struggling to retest $30,000 but it's just a matter of time before we cross that price again.

The market is very bullish this year as people are accumulating Bitcoin because of the halving of Bitcoin that's coming next year 2024. The price of Bitcoin will rise very soon when people begin to understand the disadvantage of selling their Bitcoin at this point.

If Bitcoin can closed above $40,000 before the year ends or by the bed if the year then we can conclude that this was a bullish year for Bitcoin.

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If the price of bitcoin does not increase soon, long term investment gives good profit. Bitcoin's closest competitors include Ethereum, Binance. This competition in cryptocurrencies is good for investors it cannot skyrocket in value. Bitcoin has an opportunity to stay ahead of its rival currencies. As the volume of bitcoin sold in the market increases, the price decreases. And as more institutions adopt bitcoin as a means of investment and exchange, its price rises. The future is hard to make, so you have to wait patiently.

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Still quite positive for BTC movement in 2023 if we look at it in balance. Place the 50 week and 200 week as the tipping point or pivotal boundary, first part of this year we had recovery and a rise above both these measures which could have been viewed as something of a ceiling to BTC's progress.
https://talkimg.com/images/2023/06/12/ANLQD.png
Now we have fallen back some but remain above these moving averages, more negative then the peaks but more positive then prior to the recovery of this year. Overall we have to conclude BTC is quite positive overall still.

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Quote from: Godlovesyou on May 11, 2023, 10:51:41 AM

The movement of price index has clearly show that the price will not rise this year, is almost half a year now since the price drops, this is far beyond inflation and fiscal policy of the government, I think bitcoin is suffering heavy weight withdrawals and it might end up been this Stuart for the year.

Out of 100% of international market chats bitcoin is beneath the range price counts of crude oil, gas, gold and diamond, that's means bitcoin is far from rising soon.
What do you think?

No, you can never assume that it all happens because of that index tool, you still have to think that none of these market charts tells the right position of the market in the future, and you are talking about this year? Because this stuff (price index) is just showing what is currently happening in the market and of the previous days, but not what will happen in the incoming days.
If you can just think in a few minutes, people never believe that Bitcoin will be able to reach the current level. It happens so many times and so nobody could tell what really happen to Bitcoin this year, maybe if we are predicting tomorrow or next week, we can possibly be right, but as we are predicting this year, that seems impossible.

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You do not have to take care of your position based on what you think about to happen, which we call long term investment. I keep promoting this all the time nad yet some people are still very against it and I have no idea why, like why would you want to be against something that will make you so much money to begin with? I personally believe that if you buy bitcoin whenever you have the money for it, and keep doing more and more purchases on top of that and keep doing that for many years, then you should be doing alright. I get that it may not look like the ideal situation at times because the price drops, but we all know that it recovers anyway so there is really no reason to be worried about it anyway, just be happy that it dropped so you could buy more.

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As we have seen from the past months so there was an increase in the price of bitcoin, if some down movements happens so it also recovers back to higher cost so I always says that we cannot predict the exact value or movement of price for the future. There will be always negative or positive consequences as we know that this is the key characteristics of bitcoin but we still cannot ignore the success of bitcoin.

It is necessary to just be conscious about your next step according to the conditions because everything can happen in future so ready for upcoming step is necessary. There is a slight changes in price towards negative direction but we cannot thing that it will go more down because better hopes and patience can makes you happy.

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Quote from: Godlovesyou on May 11, 2023, 10:51:41 AM

Out of 100% of international market chats bitcoin is beneath the range price counts of crude oil, gas, gold and diamond, that's means bitcoin is far from rising soon.
What do you think?

I think what you are saying is total BS! Sorry to say but what is the point of this assumptions? I call them assumptions because you have made some claims without any reference. Since you are pushing the narrative that the value of bitcoins will not rise soon, is it your intentions to discourage people from continuing to keep the bitcoins that they have been keeping since? No newbie to cryptocurrency should pay attention to this because the market still remains highly unpredictable and certainly not predictions made based on some few events.

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Quote from: Semar Mesem on May 13, 2023, 09:37:15 AM

Many people think that bitcoin is an instant way to success and wealth, it's only natural if someone tells a story of success when selling a car or house to invest in bitcoin and then there is a fantastic increase so that they get profits of up to hundreds of percent in less than a year, but we must know that many people who are stressed about losing their car or house to buy bitcoins as the price keeps dropping.

Actually, this thought is not wrong because, looking at history, many people have succeeded in selling their bitcoins at peak prices. It makes people want to get it too, so they immediately buy bitcoins without analyzing. But unfortunately, it's not what they expected because in investing in bitcoin, they must have the patience to wait for the price to increase before they can sell the bitcoin. If the bitcoin price can increase quickly, that's great and they managed to make a profit. But if the bitcoin price can't increase in a short time, they have to keep holding it, which is what many people can't do.

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Quote from: Ahli38 on May 13, 2023, 05:00:23 AM

We will not know with certainty (100% accuracy) in which direction the price movement will continue. But I noticed that in the last 2 years indeed in May there has always been a correction in the bitcoin price either because of big fud news or because of other things. So I'm not surprised that the current bitcoin price is experiencing a correction. But we also need to know that there is always a correction before a big increase occurs. So be prepared.

It may be true, at least that bitcoin price underwent a major correction in May for 3 years in a row since 2021, 2022, and 2023. But I'm not too sure that May 2023 will close with the first red candle since market recovery happened, from January to April 2023. I mean there is a possibility about the 5th green candle at the close of May if the price recovery phase has not stopped.

Also, expecting bitcoin to always be good may be a weak assumption because a price correction is always possible. The market can move in any direction regardless of how the trend is going. But one thing, we have to be prepared for whatever the market situation is and accumulate it if you want to hold bitcoin for the long term.

Quote from: Ahli38 on May 13, 2023, 05:00:23 AM

I personally am still in accumulation mode so the dips still make me smile because I can buy from any corrections that occur.

Good job, that's great at all.

Ojima-ojo

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Quote from: Godlovesyou on May 11, 2023, 10:51:41 AM

The movement of price index has clearly show that the price will not rise this year, is almost half a year now since the price drops, this is far beyond inflation and fiscal policy of the government, I think bitcoin is suffering heavy weight withdrawals and it might end up been this Stuart for the year.

What you should note is that, Bitcoin price is an unpredictable things and since bitcon is a highly volatile assets its then mean gou saying that the leuce of Bitcoin will not rise this year may be an over exaggerated statement and their is no reality to that in any ways.

We can be sure that most od the speculatores have made similar attempts to presicts the directions the price of bitcoin will go, but then also, bitcoin always make it own unque movement and as vulnerable as bitcoin in this moment we can still be rest assured that that bitcoin always mak if on mark at any time.

Quote

Out of 100% of international market chats bitcoin is beneath the range price counts of crude oil, gas, gold, and diamond, that's means bitcoin is far from rising soon.
What do you think?

Since Bitcoin is not a legal tender in many countries it will be difficult for Bitcoin to become mainstream traction .

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Quote from: Semar Mesem on May 13, 2023, 09:37:15 AM

Many people think that bitcoin is an instant way to success and wealth, it's only natural if someone tells a story of success when selling a car or house to invest in bitcoin and then there is a fantastic increase so that they get profits of up to hundreds of percent in less than a year, but we must know that many people who are stressed about losing their car or house to buy bitcoins as the price keeps dropping.

The question is, who has such an opinion now? And I just think that it's only you who have thoughts like that, not anyone else. Because what I see is that everyone always considers the risks before investing and I rarely find people who are willing to sell their cars and houses when they want to invest. Because they know that they have to work hard to get cars and houses, so they won't immediately sell them for investment capital if they can do it in a better way.

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Quote from: Nrcewker on May 13, 2023, 05:35:03 AM

Bitcoins price will only increase, if more people try to accumulate it. In simpler words, if the buy orders are more than the sell orders, then only the price will rise. The demand of the coin needs to be increased and hence in order to fulfil the demand, the price will go up. Currently due to the high transaction fees, Bitcoins have suffered in price. Once the things get back to normal, BTC again gonna climb up in price. Let’s not think of anything bad now and let’s hope for the best.

Following this logic, Bitcoin price will always rise, due to limited emission, that is why the demand will always be higher that supply. Over time, this gap will only increase, as there will be fewer Bitcoins in the public domain. But if all of this works just so simply, then why do we have such rapid market fluctuations? And more importantly, why don’t every crypto project just didn’t do the limited emission of their coins in order for them to only rise?

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Many people think that bitcoin is an instant way to success and wealth, it's only natural if someone tells a story of success when selling a car or house to invest in bitcoin and then there is a fantastic increase so that they get profits of up to hundreds of percent in less than a year, but we must know that many people who are stressed about losing their car or house to buy bitcoins as the price keeps dropping.

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Quote from: Nrcewker on May 13, 2023, 05:35:03 AM

Quote from: ReiMomo on May 11, 2023, 02:38:56 PM

According to me it is difficult to predict the price of Bitcoin in future, but hope it will rise again. Currently Bitcoin price falls, but it will not continue and some changes will happen in upcoming days. Most of the recent researches indicates that the price of Bitcoin will increase by end of the May 2023. So don't loose your hope that Bitcoin is not rising. Surely it will rise but it will need some time.

Bitcoins price will only increase, if more people try to accumulate it. In simpler words, if the buy orders are more than the sell orders, then only the price will rise. The demand of the coin needs to be increased and hence in order to fulfil the demand, the price will go up. Currently due to the high transaction fees, Bitcoins have suffered in price. Once the things get back to normal, BTC again gonna climb up in price. Let’s not think of anything bad now and let’s hope for the best.

If bitcoin price depends on supply and demand, as you are saying, then predicting bitcoin price will not be so difficult and unpredictable. In addition to depending on supply and demand, bitcoin is also manipulated by many different forces in the market, making the bitcoin price almost unpredictable. Even if bitcoin has more buyers, there is no guarantee the price will increase, it all depends on the market makers.

I also don't think the recent drop is due to high transaction fees, there is some news, like the US government selling 9kbitcoin or Binance stopping operations in the Canadian market, that could be the cause. But I don't mind because market ups and downs are normal.

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Quote from: Godlovesyou on May 11, 2023, 10:51:41 AM

The movement of price index has clearly show that the price will not rise this year, is almost half a year now since the price drops, this is far beyond inflation and fiscal policy of the government, I think bitcoin is suffering heavy weight withdrawals and it might end up been this Stuart for the year.

I don't think Bitcoin has had such a heavy draw this year even though it's almost halved this year. Because if we look at it from the government's fiscal point of view, I think there are already several governments from several countries that have started to see Bitcoin as an asset that is as important as crude oil, gas, gold and diamonds so that Bitcoin is still uncertain to become Stuart this year.

Quote

Out of 100% of international market chats bitcoin is beneath the range price counts of crude oil, gas, gold and diamond, that's means bitcoin is far from rising soon.
What do you think?

Bitcoin still looks far from increasing in price as soon as possible, but that doesn't mean it can't happen this year because a significant increase can occur when a large number of Bitcoin buyers are still in the market for this year despite the general increase in the price of Bitcoin in this year still can not exceed the price of crude oil, gas, gold and diamonds.

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It seems like you're not understand about the volatility is, if Bitcoin price can increase, it can decrease too. It's not always the price always rising and at the same time the price isn't always declining. The price is still stable around $25K-$30K and I think it will keep like that until the end of this year.

Quote from: Marvell1 on May 13, 2023, 04:30:41 AM

But it would be wiser with DCA instead of waiting, bitcoin is still unpredictable, and there is no guarantee that history will repeat itself.

If you said no guarantee the history repeat itself, what's the point of DCA-ing in the first place as you expect Bitcoin will not create new ATH on the upcoming bull run season.

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Quote from: ReiMomo on May 11, 2023, 02:38:56 PM

According to me it is difficult to predict the price of Bitcoin in future, but hope it will rise again. Currently Bitcoin price falls, but it will not continue and some changes will happen in upcoming days. Most of the recent researches indicates that the price of Bitcoin will increase by end of the May 2023. So don't loose your hope that Bitcoin is not rising. Surely it will rise but it will need some time.

Bitcoins price will only increase, if more people try to accumulate it. In simpler words, if the buy orders are more than the sell orders, then only the price will rise. The demand of the coin needs to be increased and hence in order to fulfil the demand, the price will go up. Currently due to the high transaction fees, Bitcoins have suffered in price. Once the things get back to normal, BTC again gonna climb up in price. Let’s not think of anything bad now and let’s hope for the best.

Ahli38

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We will not know with certainty (100% accuracy) in which direction the price movement will continue. But I noticed that in the last 2 years indeed in May there has always been a correction in the bitcoin price either because of big fud news or because of other things. So I'm not surprised that the current bitcoin price is experiencing a correction. But we also need to know that there is always a correction before a big increase occurs. So be prepared.

I personally am still in accumulation mode so the dips still make me smile because I can buy from any corrections that occur. But I see that the current Accumulation phase seems to be the phase that is almost at the end before the increase based on Wyckoff Accumulation. Please match the current bitcoin chart with the following Wyckoff Accumulation pattern. where is our position (use the daily candle time frame)

Sourch: School.stockcharts.com

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