Topic: The trend of prices is still upward, any hope for downward? (Read 529 times)

The corona virus was definitely the driver of the economy last year and this year, while the companies are hurting the big impact came from all the stimulus packages created by governments. The only real chance for downward prices I am seeing if the support is going to stop. Eventually the relief programs will run out and it what remains afterwards we don't know yet. There is a lot of uncertainty. Also the interest rates are at 0% for a long time. If they every rise it could hurt prices too.

COVID-19 has an impact on the world, and many companies and companies have closed down as a result. The economy fell for a while. Fortunately, it is okay to control it now. It is also because of COVID-19 that many people have learned about cryptocurrency and entered the cryptocurrency market to make money, and the demand has gradually increased.
Now that the price of cryptocurrency has risen, many companies and factories are slowly recovering. The economy is also slowly developing, it is only a matter of time.

Bitcoin is volatile so expect sudden movement of its price at any time of the day. Although, the price change whether increase or decrease wouldn't be big as much as you want it to be. Its price will just play from additional or less than small value from its original position. I think we're still in bullish market hence, it's not yet the very ideal season to buy additional coins. We must wait for bearish market and really hope for the best. But I suppose, it's still far ahead unless a reason for sudden market disruption will occur such as banning of bitcoin in super nation countries or closure of mining sites that could trigger the value of bitcoin to go up or down.

Short answer... if US inflation is at 4% and a large part of it is due to commodities and construction goods, prices are likely to grow even more. COVID disrupted production strongly and until things go back to normal there is no way global commodity prices are lowering. This is despite China mobilising their strategic commodities reserves. The fact is that not everything in the economy can be solved by printing massive amounts of monopoly money.

This is not about the governments doing something, it is about the market rebuilding the offer side and that takes years.

That would be the best case scenario but it is really doubtful that it is going to happen, politicians more than anything are there because they want to get and keep the power they have, this means that when a part of the population is suffering they are going to take measures that will help them on the short term so they seem to be doing their job, but they are sacrificing the long term well being of their population, as eventually they lose control of the inflation and they need to keep printing money to keep things going and the economic activity goes down as no one wants to open a business under those economic conditions.

The money inflow into the financial economy (not the real one) has been to hhuge to be absorbed without consequences. Prices won't go down, they can only go up. Expect some huge rises on old good assets like land, gold, real estate (I mean good properties). These trillions of fake paper money will have to be paid at some point but my question is who's gonna really pay for it?

No I don't think that a downward in price commodities is going to happen anytime soon, remember that there's inflation and you have to understand that when there's inflation, the price of commodities are going to increase in parallel to it. And with the pandemic, this gets worse because most of the population doesn't have a job that can help in making the money circulate in the economy.

In order to avoid inflation due to the large amount of money printed by the government, it is better to return to Keynes' theory. In Keynes's theory, consumption made by one person in the economy will become income for others in the same economy. So when a person spends his money, he helps increase the income of others. This cycle continues and allows the economy to run normally. When the Great Depression hit, people naturally reacted by holding back on spending and tending to hoard their money.

According to Keyness, the transaction needs are the same as the classical opinion which depends on the volume of goods, prices and constants. But for two more factors, namely the need for precaution and speculation, Keyness argues that the demand for money is also determined by precautionary and speculative factors.

i guess the op isnt talking to btc but what he mean is the price of the goods because if its btc , the price of btc have been greatly reduced  but there is a chance for the price of goods to decrease and back to normal .
for now we only need to learn how to save and control our selves in the expenses and on the food that we eat .

things like this seem to be a dilemma, where when people lose their jobs and have no income, the government comes and provides assistance, so that it can move the economy back, on the other hand the government prints more money, which I think this will be in the future burden the community because of inflation that continues to occur. Hopefully in the future the government can take wise steps to overcome this

The governments are doing something to try to help the economy recover, the problem is that they always do the same thing, they printed a lot of money to stimulate the economy but this raised the price of everything just at the moment when a lot of people lost their job or saw their income reduced, meaning that they cannot afford a great deal of products they could before, reducing the sales of those businesses which in return means that everyone needs even more help, forcing the government to print more money, so to me while the healthcare crisis could be overcome during this year I do not believe the same will be true for the economic crisis that is coming.

Yes, because the volatility of the market and many volumes are waiting for below 30,000 price of bitcoin. When there is bad news like, what happened in China, it can cause for the bitcoin to go down. It is also the time for whales to buy at lower price and bigger volume. Downward maybe a sign of bull trap within three to four days, then breakout again for the next day. Perhaps the government is trying its best to recover from this pandemic, and hopefully soon this will end and everything will be back to normal.

The problem with inflation is that since one price is already high, then the other price is high as well and nobody talks about how it should recover. The higher ups make a lot more money, instead of 1 billion dollars they make 3 billion dollars, then they do not say "well we are fine with 1 billion dollars, let's fix the prices down so that we would only make 1 billion dollars profit", because let's face it who would say no to extra money (even though it is the same money when inflation is applied) and this trickles down to fact that lower sellers, even the street vendors do have to increase their price because that is how it works.

It is just simple economics and because of this everything's price keeps going higher and higher whereas the worker amount in the world keeps going up as well hence why companies get away with paying very little since there are so many people looking for work.

i was waiting to drop to less than 25k $ to buy in and make a profit but so far it is still very strong resistance around 30k $ and can't really buy I am impatient and want to buy because are panicking the price will go up again.

But supposedly the government will find a way to regulate all prices in the market, supermarts, even only for the basic needs. However, they just allow the merchant to increase prices despite the crisis we face. I know it was not the government being a direct receiver of our complaint but at least, they show their constant support and monitor the market prices as some merchants taking advantage of the situation while the designated authorities are busy helping with the other stuff. In this way, it is possible there is no huge increase in all common commodities in the market.

Regarding the price, there is always hope to see it going up and down all the time. Right now you are still in an uptrend if you enter in early January, but if you enter in mid-April or when the bitcoin price is trading at $64K then you are in a downtrend. I think it's natural to worry about price if you're a trader. But if you are an investor looking for long term profit then ignore FUD and anything else that worries you. The price of bitcoin can down by more than 50%, while the price can also go up by more than 100%. Strengthen your hands.

OP, there are many other thing beside Covid 19 that affect the increase in commodity price in the market and that is the government's desire to improve state finance. One of the government's efforts that I feel very clearly now is an increase in the cost of electricity and an increase in the number of sectors that are taxed. As citizen, we must comply with our tax obligation even though at the same time the amount make the people suffer. What's the use of aid if the government just wants to charge its citizen more?

I also have faith in Bitcoin like you, I also believe Bitcoin will rise soon. Because since the beginning of this year Bitcoin has never fallen below
the $20k price, even several times it has fallen below the $30k price, but soon it went up. This proves the price of Bitcoin support is very strong,
so it is very unlikely that Bitcoin will fall in the near future. So I'm still quietly waiting for Bitcoin to come back above the $40k price tag.

  actually no need to worry on this situation because market already shown a sign that it will never decrease more,  did you remember that bitcoin suddenly bounce back around 36k after the consecutive declined? And now it keeps holding the support and fyi it's been how many attempts decrease but failed . So i'm pretty sure this is will not go further and anytime soon it will increase again.

Exactly, businesses raise prices even when they do not have a reason to do so and do we really expect that this is not going to happen when inflation has grown so much and they need to recover that money due to the lost year caused by the pandemic? If anything we should expect even more raises in the price of everything as it is doubtful the inflation has actually kick in in full force, which means that things are going to get even harder for all of those people that lost their jobs or that now are receiving even less money as a result of the economic crisis that came with the pandemic.

I think that in the current market situation the market trend can be driven in any direction. The current market situation is much less volatile and fluctuating within a certain position. Notably, the market is fluctuating between the two main support resistance and both are coming back from the barrier repeatedly. In this scenario, the market trend could be heading in any direction and it is expected to be in a big upward or downward trend. However, other cryptocurrency prices, including Bitcoin, are more stable now and are more likely to rise on any positive sign.

The government will try to squeeze and try to earn tax everywhere possible because of the financial situation everyone is facing due to the pandemic. It is hard to overcome these tough situations and it will take years for the economy to recover and the burden will be upon the citizen and there are governments who understand these issues and ease the burden while there are government who does not bother what their people go through.

I do not know how true it is that Covid19 enriched the majority. In relation to the prices of basic products downward as an example in my country I do not think it is possible because they have never downward, the opposite they always rise. With regard to Covid19, experts advise that the world population needs to be vaccinated to gain immunity to face the virus now that a new variant is more contagious.
In summary I can think that the prices of goods and services will continue to upward.

In general, I agree, but still, we should not confuse a sharp short-term rise in prices due to a shortage of the product itself, components for its production or disruption of supply chains, and an increase in prices due to inflation, when manufacturers are forced to do this or saw an excuse to increase their profits. In the first case, there is some hope for the restoration of the previous price increase, and in the second case, we may not see a price decrease, because it often happens that manufacturers and sellers try to keep the price of goods at the same level, even by reducing their profits, but after a certain threshold they still raise their price. But all this is applicable under conditions of normal market competition, with monopolism and collusion, slightly different mechanisms operate.

Exactly. Since this covid 19 has made most of the companies experience losses so there is no way that prices will tend to decrease even if covid 19 will be gone and people will recover from it. Price inflation will continue to happen so they can recover from all their losses.

I am a consumer and definitely the most affected about this pandemic but i never see any signs from big companies that they are adjusting their prices and i respect it. I know everyone of us especially for those who run businesses are greatly affected by this pandemic.

I think you are talking about the inflation levels of the economy surprised to see a few answering in terms of Bitcoin pricing. I think inflation was sort of expected because of the increased money supply from last year. Also the ideas of basic minimum income further escalated the inflation in the economy. Now with economic growth downward this is creating a very negative scenario. Increased prices with decreased GDP is a very bad indicator of the economy as the poor would suffer a lot. Only way out of this situation is to increase further supply even more to drive customer demand and rectify the situation but this is quite risky as it could create a debt trap sort of inflationary scenario.

Why would these businesses decrease prices, if they have a legitimate excuse to inflate it? The consumer is the real victim of this whole Covid epidemic, because they are the ones that are absorbing the price increases. The merchants and middlemen are still making their profits and they are just pushing the cost onto the consumers.

I can take a bet now that even if this pandemic is done ....prices will not be adjusted to a economy that recovered. (They will keep the prices inflated to make up for their so-called losses during the lockdowns)

Not that anybody can guarantee that this downtrend is a short term one, but nobody can guarantee it being long term neither. You are saying that people will be taking profit like it is a known thing but nobody could know what other people will do like that, you can guess it but the other guy is making a guess as well. This is why these are all speculations, maybe suddenly we will start going back up and in a month be over 60k again, maybe we will continue to go down and be under 20k in a month, either could happen and they are both equally possible, one is not more possible than the other.

This is why we are trying to make guesses and predictions, not claim it like we know what is going to happen, because that is just insane, if you are 100% guaranteed know that bitcoin will go down, sell every single possession you have until you only have the clothes on your back and nothing more and go short bitcoin, will you? No. Why? Because it is not guaranteed, it is just a guess.

Yes, I agree. Let's not forget strong altcoins out there, Bitcoin has a great influence on the price movement as it is usually used as trading pair.
Some altcoin doesn't have any use case, so they are vulnerable to dumping.

Yes, you have a point. I mean, we reached ATH during the pandemic; I guess it is due to an increase in demand.
I think there are players out there taking advantage of the market situation, resulting in volatility, so I think the decline is only short-term.
I mean, the crypto prices will get better.

it has just been bitcoin that has been rising in price. the altcoins are still pump and dumping so they always end up at a lower price because their dump is inevitable.
it wasn't just during pandemic though, bitcoin has been rising ever since 2019. it is currently up 993% so far!

I don't think so. Because those who have been in crypto will be taking the benefits and sad to say that only a very small percentage of the total population knows about this. How does that become a solution? And those poor people could have no chance to prioritize investing but of course, they took themselves first.

If we think that prices will dump, that seems so hard this time until the pandemic still exists. We almost close to $25k, but the market recovers so fast as the demand still high and moving back to $30k. Maybe, we're not seeing $20k Bitcoin's price back again.

The fact that the crypto prices boomed during the pandemic is one of the responses to the crisis.
But Pump and dump schemes are present due to the high demand, so I think the market decline is only short-term.

Unlikely and this is mainly for two reasons, the first is inflation, the price of everything went up because governments printed money to pay for the vaccines, raise the stock markets and other stuff and this in return increased the price of everything, and the second reason are businesses themselves, business owners created their business to make money, this means that at whatever opportunity they have they will raise prices, but even if things go back  to the way they were and we see a decrease on the stuff necessary to run their businesses they will refuse to lower the prices as they like their current profit margins.

Since the existence of this pandemic, we can't deny that it really has a big impact on the economy of each household,
both the rich and the poor are affected but the most difficult is of course for the poor,
and talking about the cryptocurrency market I think it can be said as usual which is volatile as you say

In various articles that I have read, the one that most caught my attention was this:
If these players play their cards right, Bitcoin may re-establish bullish leg

Where the author concludes that the price of BTC does not yet have a clear trend, what exists is an uncertainty that reigns in the market, in the short term there are many technical analyzes that I have shared, but it is in the short term, in the long term there is a Very good theory based on S2F, which indicates that the only bearish price sensation is located in the $ 100k, this is something that fills a lot of hope, but in general terms not everyone has the same thinking as an investor.

  In the long term in any investment, time is the best ally, but in the short or medium term when the results do not occur, they tend to give a lot of despair to traders or small investors, even more so, if they depend on that money invested. In this sense, I think that this is not the time to decide on a BTC sale, I think that those who have BTC put it in HODL while they can, sometimes when it is sold, it increases a lot in price and it stops earning.

There's something going on with the market since the time it touches below $40k when Elon Musk made a FUD news.
But look what happens to the market, it seems that we are bouncing back and forth in $30k up to $39k. I think a single news would make this price either go break a strong resistance/support level and that would be the signs of where Bitcoin is heading.

This pandemic isn't doing anything to the price but somehow people are switching from fiat to crypto which is helping to maintain the price level of where we are now. Although, the economic crisis due to this lockdown is very alarming since last year. We keep on hoping that this would end so soon but the truth is it won't because of these new variants keep showing up as if it was being timed exactly to prolong the lockdown and to continue the economic crisis.

It was actually down for a really long time which gave people an amazing opportunity to buy some more thus we saw the sudden upturn, right now I do think that we will see a lot more down fall in the market , we are still in a phase of lockdown and therefore these things are common.

I do think that if you want to invest big then wait for a while . At the same time you have to consider the news where countries adopted bitcoins as a legal currency therefore it will also spike up the price when that happens. This is something that you can look forward to.

Right now due to some probelms in China past week we did see a slightly lower price. Look out for any news, it's a critical time especially for trading.

This pandemic has made everyone to struggle even harder and the price inflation is even more growing when it comes to goods and services. Poor people are becoming even poorer and there's no way our economy will recover if this covid 19 variants continue to appear  and infected people.

However, when it comes to crypto market, either prices will go up or go down, that is already expected knowing the market is very much volatile. But still some investors do not understand the market's high volatility mostly newbies and continue to become stressed out seeing the prices keep on declining.

I think everyone suffered a lot from the pandemic, but poorer countries and smaller businesses were hit harder than others. The US printed tons of Fiat, and inflation is already a bit higher than expected if I'm not mistaken. As for Bitcoin, it recovered from the initial hit of March 2020, and I think it became largely independent from the pandemic, unlike the global economy. So the price can go up or down, based on other events and their media coverage, but it's impossible to predict where it'll go.

This too is a source of worry for me, coming from a third world country with obvious nonchalance from politicians and the wealthy who have refused to fix a decaying nation. It's commonsense that those who are profiting from the skyrocketing price won't want to give it up. So, I don't see price descending any time soon. It may work in countries where supply and pricing mechanisms are still in place. Sadly, I don't see that happening on the part of the Africa continent I'm from. At one time, the Nigeria government blamed the inflation in the country on the activities of crypto and Forex traders in the country. Thus, part of the reason cryptocurrency was banned in Nigeria in February this year. That's poor judgement on the part of the government to think so. Commodity prices started skyrocketing when the government closed certain borders and placed restriction on Forex exchange to individuals. And that's a country with over reliance on importation. It's expected that such an action will only lead to inflation, and that's what is happening now.

This simply shows how unpredictable the market is. After the incident with Elon Musk wherein he chose to remove bitcoin as a mode of payment for Tesla as he reason out that it is consuming too much fossil fuel when mining, the value of bitcoin went down and it marked the beginning of the bear market. Recently, he mentioned that he will once again accept bitcoin and it led to bitcoin's upward trend once again. Although it is not completely because of that, it still made a huge impact. Down trends will still happen, just be patient and stay aware and observant so that you can hit the right timing.

One reason is the volatility of bitcoin has been doing it's work this past few days so we can't trust our prediction because we are likely to be proven wrong, just have some money on standby to buy bitcoin when the prices go down really bad and ready to sell when you feel like the prices are going up and it feels like the prices are going down after the rally.

the decline will always be there, depending on how you implement the strategy and read the charts using a certain duration. so try to pay attention to his every move. even during bullrun, the moment of decline will always be seen based on the duration of the trade. which is synonymous with short-term trading.
it's just that you are ready and know what risks will be accepted if you make such a trade?

I see the OP is not used to replying or responding to anything in the thread he started and maybe it could be left out. While I also don't see it answer anything in this thread after it's published. So I think there will be a lot of answers that might not be useful to him even though behind the scene he can read each one of them when he doesn't respond to anything here.

Maybe this situation is not only happening in your country because almost all countries are experiencing the same situation. Even in my country the government has proposed taxing basic need, education, health and even services. I think there are pros and cons to the government's effort to improve the country's economy because at the same time people continue to feel the impact.

I get what you’re saying. This is how it has been in my country, the price of things has been very high. It’s even hard for people to afford food to eat these days, because when you go to the market to buy food to cook, you will notice that everything has increased in price. So everyone is just trying to manage with the little they have.

I do ask myself this same question, whether the price of things will get better anytime soon, because it’s really bad. I am not happy with the situation this COVID-19 left us in, and nobody is happy about that, looking at how worse things has gotten. The government is not even doing anything about it, they don’t care about the people.

All prices are going up like crazy... not sure about the other parts of the world, but here some things are +100% higher than in October last year! And yes, money printing is definitely one of the problems!
I don't wish to sound like a pessimist, but I am not sure that hope for any downward ever existed... it's simply the economy! Constant rise, constant growth... debt-based economy that requires more money printing, more loans/credits...
One thing is certain, it will get worse before it gets better!

I guess OP is talking about the price increase of goods and services, if yes then he actually need to realize that the price of products are not increasing, the purchasing power of our fiat money decreased especially in 2020 and after that governments are printing money with no limits. And the reality is the worse is yet to come so don't expect the prices to drop and find a way to make more money.

Interesting, were those longs opened after or during the dip?
I only played for pennies, all my guts were telling me that once it will rebound it will do at least 5% up but I'm not taking risks with large sums anymore and not going into 100 leverages either.

Every day I'm starting to believe more and more it's about time I stop checking the price for a period as the whole situation is simply too unpredictable, we might go as low as you've mentioned indeed but even nailing that dip won't help me that much, I have far too little to invest compared to cold wallets to matter, and the stress isn't worth it.


Some branches of the economy are inexplicable slow are fully reopening, sometimes I wonder what the hell is going on!

Food processing is here at 100%, orders are on the same levels as 2019, but try to get some construction done or maintenance on a farm, we've waited 12 days for a few damn replacement parts we could normally simply go to the hardware store and buy, and we're talking about basic stuff one month ago we weren't able to find steel cables, while two years ago I could go and fill a truck with every size possible.

Every single hotel owner is pessimistic about tourists not coming, not spending but those damn jackals have raised the prices by 25-50%.
I don't know what's wrong with this world anymore!

You are lucky to live in a country where the government really cares about the condition of the community during Covid. At our place, assistance is only done at the beginning and that in my opinion is not feasible. Even aid funds in the corruption of irresponsible elite people. That's why in my country people have to try to fight the flow of covid, because otherwise they won't eat right away.

Since you are praying for the price to go down, it shall be granted. Look how the chart is today. There may be some analyst that would say Bitcoin isn't yet in the bear market but we couldn't deny that the price dip from $60k down to $30k, isn't that a proof of downward trend?

If it goes beyond that price, you might have been heard by the whales and I'm not going to be surprised by the government around the world are also going to be buying BTC as well now that it's a trend that governments wanting to mine BTC. Whales wanted them to be onboard too that is why the price is dipping.

Are you referring the trend of price in terms of commodities or btc? Reading through the post sure looks like you are asking base on the high cost of commodities at present,  we'll that depends on countries and their policies to handle the aftermath of Covid-19, some countries are still not fully open to other countries for import and export, they are still very strict laws in that aspect, and this is affecting production greatly, but this is in the advanced countries,

In the less advanced countries, Covid-19, insecurities are preventing the locals from producing their products, when production is less and the demand is high definitely the price of goods will skyrocket, you may think the majority don't seem to care or it didn't affect them but it does in one way or another,  even though they have the financial means but they will still feel the impact. The situation is critical and I hope it will be less a bit because the less privilege are the most affected.

The end of the tunnel is not yet in sight. That is, if we are talking of the COVID-19 pandemic. While the daily spread of the virus is indeed decreasing, it is still very high at 426,328 new cases just yesterday.^[1] Not to mention that we are facing new variants that are said to be more contagious and would probably cause another wave.

Meanwhile, the economy has not yet really started its recovery phase. The virus is still there without a cure or even a vaccine that would totally protect an individual from getting infected, lockdowns are still being implemented, shops and stores are still closed, movements are still very much limited, and so on. Having said all this, I cannot see a price decrease in goods and services anytime soon.

[1] https://www.worldometers.info/coronavirus/

Nope, no hope in the horizon, in fact all the money printing is creating a clear paveway for the inflation. We have not yet paid the true cost of COVID, we have only been living on an illusion of free money, subsidies signed by presidents that know that they are not re-elected if people are hungry and central banks that consider their duty to save every and all dying company that is zombying its way in the market floating in an ocean of cheap debt and low rates.

Yet, as you say, the ones to suffer will be the same as always.

The world of Bitcoin is full of speculators and everybody had a different entry point for their trades. Just a day ago Bitcoin had wiped out all it's gains for 2021, if you were one of the unlucky ones to buy near the top or in the space between $30k and $65k then you would only have seen downward movement. $30k seems about the expected price point at present but the trend has been downward for a while now. If you are a rational new investor in the cryptocurrency space, would you really want to get involved with Bitcoin when it would be tough to double your money, or would you look for something like Dogecoin which saw the value go up by thousands of percent in the space of a few weeks? You can surely see new buyers going elsewhere, no matter how much brand reputation Bitcoin has, so the price pressure will naturally keep pushing it back down.

I think that the prices increasing due to Covid is a sensitive subject, because sure we can blame some industry not having enough supply due to the pandemic is a logical thing, but in other some i think that they are riding the wave and just blaming it on the covid, to artificially create scarcity to increase demand while also decreasing supply by doing less manufacturing in order to increase prices to pump their numbers in terms of profit, so i seriously expect this situation to go on for another year or two at least until the whole covid thing dies down.

               The only thing you should be thinking about to make a sense of everything related to price increase and decrease is the status of supply and demand. And as of the moment, demand is high and the supply is low due to the covid-19 pandemic. Trasports are limited and so does the exportation and importation. Even now here where I live, we are still under MECQ(modified enhanced community quarantine) that limits people coming in and out of our city. Parcels are delayed unless they are essential stuff like food, drugs and medical apparatuses/supply. Price decrement will only happen when everyone gets vaccinated with a full proof vaccine in the future. But for now, we are still in a very bad position to expetprice decrement.

For a week,their will be huge increase in the price of bitcoin.If you really a trader and holding some bitcoin with the past trade.You should hold the bitcoin.Only the experience traders know,it was a give back assets.Because the bitcoin was the celebrating assets for now.It will give you 10x profit in a period of three years.

Bitcoin is a very volatile asset and everyone knows about it. Basically, price can go up and can also go down at any time even for no apparent reason. There's nothing wrong with expecting a decline, but you also have to believe that bitcoin is also capable of going higher than it is now. Remember, if the reference is ATH, now bitcoin is down almost 50% at the moment. However, if your reference is the price in May 2020 then we are still in a bullish trend. The nearly 50% drop in bitcoin price since ATH $65K is the reason why you can never go wrong expecting a dump.

Answer my question, do you want bitcoin price to dump lower than $20K again this year?

Has become an open secret, only the majority don't care about it, let them do as they please, only the majority who are sound minded know.

Back to myself, if you judge about the news so far, you will be devastated and frustrated, not thinking about falling prices, on the contrary, disappointed and nervous.
However for me sticking to my point of view the $20k will probably happen again, only time will tell.

I think much depends of how far China is trying to go to purge the mining industry. If the Chinese government ist really serious, and not like in 2018 when they took unsuccessful action against Bitcoin, then the price could fall significantly further to 26k or even 22k. If they are serious, the mining will shift, as can already be seen in some cases, e.g. towards Kazakhstan, which at the same time also brings uncertainty that in turn is not good for stabilizing the price.

this is a very strange statement that surprised me after seeing an old user making it.
if anything the recent pattern solidified the next rise. if price were capable of such a huge fall yesterday when they were dumping it hard should have gone lower than $29k or at least lasted there for longer than an hour or so!

but when price jumped back up like a yo yo it indicated that price doesn't want to fall and $30k remains a very strong support.

to OP always remember that they are printing a TON of money specially during COVID time. there is no way to see any price decrease anywhere, in bitcoin, stocks, groceries, rent, utilities,... all are going up.

Dude if I see bitcoin price at 15K price level I would sell even my underwear to buy more bitcoins.
In my idea, even if we see prices such as 15K, there will be a show touching the price level for less than a second because many people are waiting for lower prices to increase their bitcoin amount.

I abandoned most of my long at about 33500. I imagine we could be due a drop but I don't know how far, perhaps to 29k or something (we could reach 42 before then though too). I want something a little more sustained around the 30k level - if we don't get that and go up we're still pretty bullish imo but it'd be nicer to get an extra confirmation.

The current pattern on the daily kinda matches the last one too so there's a chance we go to $15k, extremely slim though and probably quite unlikely (you'd be better off selling at 20k if it did)...

COVID 19 enriched majorities while the minorities suffer.
The current increament in the cost of commodities in the market is alarming bad yet the majorities who are representative of the minorities (politicians) seem to pay less concerned.
This increament before now was tag to be as a result of Covid 19 which interrupted importation and exportation of good and services.
It is expected that with the decrease in the Covid 19 spread I thought their will be a corresponding decrease in prices of price the reverse is the case.
My question remains is their any hope for price decrement.