Topic: Was $25K the bottom? (Read 962 times)

the current price is at $24K+, this drop below $30K occurred in July last year, after that it was able to continue to last until the end of the year above $30K.
The current decline is clearly beyond the analysis of some observers who say that it will only go down to $25K and will soon move up, and even then is expected to happen by the end of the year. it turns out that this has happened and is clearly beyond prediction, will this continue to fall to $15K? it might happen and it looks like bitcoin is undergoing a deep correction at the moment. so to be able to immediately increase it will probably be difficult to happen these few months.

The price of bitcoin is within $28000 and $29000, which means its support at $30000 can be said to be strong but also decreasing below that. It is possible that bitcoin price will fall below $30000 and also means that bitcoin price may increase above $30000. In this, if I should have sentiment, this seasons favors bears, I expect the price of bitcoin to fall further below $30000, then a strong support will be created by bulls around $20000 to $25000

Not trying to burst the bubble for you, but if we have a chance, then this is not a bear market. But it seems that is not the scenario, as explained we are already down by huge numbers already -65% and then counting.

And what makes you think that it can return to $40k this year?

The bottom is not yet reached, I'm still expecting the price to go down in the next six months. So it's either we take that and fill our bags or are afraid to reinvest.

Until now the price is still holding above $30k, I think this is a sign that bitcoin has a chance to skyrocket soon, for those who buy when the price is $25k of course get a big profit if you sell now, but I recommend holding on because of the potential to return to $40k very big, maybe it could happen on this moon.

The economy slowly started to progress after the pandemic. The economic decline is felt all around, but certain corporate pharmaceutical networks made big number of billions during the same time period. Now the recession has happened out of war, that caused the increase in oil price. Further causing the rise of basic needs. During the lockdown people were into work from home, and that made people not to spend much. Slowly when the shift towards office has begun the expenses were high compared to the days before covid-19. Slowly people have begun to experience the difficulty. For now every form of investment will have a slow growth. It is good till there is no big crash.

I doubt that recession would hit big nations all that hard, it looks like we have enough money printed anyway to make it go "nasy" lol, and yes fed may have increased the rates, but when people realize that they need those money, then they will withdraw it and the market will be flooded with them again, because remember people didn't burned that money, it is still there and they could liquidate it anytime they want to.

It will be terrible for smaller nations, any nation that had 20%+ inflation for example, would have a bad recession again as well, economy will go smaller, and everyone will try to balance things out, but places like Switzerland for example which stood great, would probably go on being great.

maybe YES, because according to technical analysis is a strong support at $ 25000,
but we have to remember that this is a cryptocurrency, where the risk and very high volatility makes a wick possible below $ 25000,
make sure we have a good strategy to face it.

Actually, I agree with your point that we should attempt to be our best prepared for down and even down that goes a bit beyond our expectations, Chato1977. 

So, our preparation does not merely need to be financial, but also psychological.

At the same time, hopefully you are also both financially and psychologically prepared for UP, too.. because if you end up putting too much preparations in various down scenarios that do not even close to happening, then "lucky for you" will end up contributing to your having had counted your chickens before their hatched.

Surely, each of us has to find a balance that is comfortable for our own situation, and view about which way the BTC price is going to go remains ONLY one aspect of the attempts to individually tailor our preparations to a wide array of scenarios and hopefully apportioning our level of preparations to our view and not betting too much in any given direction that might end up devolving into gambling rather than trying to be realistic in terms of how much we are able to put in one way of practicing our BTC investment portfolio versus another.

Of course, any of us who have already accumulated a decent amount of BTC should be prepared for UP - even accounting for some of us might be recalculating and considering if we are sufficiently prepared for down.. hahahahaha

It seems to me that on a broader spectrum, we have way more folks who are not sufficiently and adequately prepared for UP.. which surely takes a long time for the population to come around to BTC, and even if someone might be new into BTC, there likely would be a decently long period of time to just get to a point of having a sufficient and adequately sized BTC portfolio, and I suppose that part of my point is that buying on dips is ONLY one component of any BTC accumulation strategy.. so even if many of us might want to prepare to buy on dips, to the extent that we might NOT have accumulated many BTC, we also should be considering ongoingly buying as well in a kind of DCA way... so one part of "lucky me" is to consider a balancing of buying regular and trying to be prepared to buy on dips too (even though we are already in a 65%-ish price dip arena).. 

So surely we should be able to ask ourselves about how much dip do we expect?  Is that realistic?  Do we have a decent stash of BTC already?

I guess that 25k wouldn't be the bottom. You should consider that bottom would be between 20 and 23k dollars. Situation at the moment is not really so good, market is falling and you can't expect any rise from bitcoin.

Maybe we'll talk about it in the next year but for now I don't think that price of bitcoin will start to rise at its previous value. It is too early.

we are still in the second quarter of the year , meaning June is just part of it so you know what is better to do now?

"Buy And Buy More Bitcoin " as the price is continuously giving us Discount , let us not fall to the belief that this year is a total dump Because we are already having so much support from Institutional investors so any moment can be consider as Bull running once the price starts to spikes up.

This is the problem if you have no funds ready for this situation , but I am not mate. as I have been saving in dupport funds and if this situation comes? then surely i will have enough funds to purchase more .
lucky for me lol.

For me it doesn't matter if we are in a recession or not, I look at it were we are right now. So currently we are in a bear market, so obviously we will go down with or without recession. And it just so happen that we have war going on, that really magnifies what is our position. Covid-19 really hits hard, every countries economy is down, and yet crypto market made a run 2020-2021 because that's what the cycle is that time, bull run. So now that we are bearish, no one can stop It from happening but there could be factors that will have a domino effect on the market.

I think it will be hard to guess what's coming next without seeing how Bitcoin will react in a recession.  It seems like we're going to find that out in the next 18 months.  A lot of people are expecting Bitcoin to buck the curve and separate itself from traditional investments by going to the moon while everything else craters.  I personally don't think this will be the case, but we'll see.  There's a lot of leveraged bullishness in the market right now.  I think that will need to be cleared before an upward move can be sustained, so I'm keeping my eyes open for one more big drop and a long accumulation period.  I don't think it'll be something you'll miss in a matter of hours.  When the bear market is in, you'll likely have several months or possibly years before consolidation leads to increases in price.

If you think globally, the 29k we see now is 2.5 times less than it was at the top, which means bitcoin has already fallen quite a lot. It is probably consolidating now, as it did in May-July 2021, and I am sure it will not continue to do so until the end of the year. When everyone is depressed in the market, it means a reversal is near.

Possibly after the market signaled a low of $25k then the prediction of the future correction fell to the same low, now that we have seen the market has moved to crash without recovery for 30k. Maybe in June there is no indication of the movement of the market increase.

Yeah the dumping is starting again now mate as we can see? the price of Bitcoin one more time fell down below 30k and here it is now

https://coinmarketcap.com/currencies/bitcoin/

Maybe this time the price will fall down below 25k in which expected to happen last month.

This might be correct 'we aint done yet' but before we go lower I'd guess higher first, that attempt failing would aid the ultimate downside.   Thats usually how it works because its not until the buyers give up or sell some even that we have a one sided market that allows for new lows to be discovered relative to this timeline anyhow.
  Many people only especially respect a sell off or low that occurs with great turmoil or volume occurring.   A slight gradient suggests too much calm that it would not be trusted by all,  I'd say both are possible bottom prices but the flat bottom means we stay here for possibly this whole year roughly.

Those who didn't sell BTC at 60k won't sell 40k either. This is people's sentiment, but these people will sell their BTC below 20k if it reaches there. Whales will always win because they have the power to break investors' morals to stay strong in this type of situation. Whales will buy most of the BTC from retail investors because those coins need to stay out of circulation before the next bull run. That's how whales manipulate the markets by breaking people's hope.

I do always have in mind on that common line "Be greedy when others are on fearful" which do mostly works most of the time thats why i do prepare up some funds whenever these kind of market conditions do happen. It might not be always ending up on positive results but at least you are aware on when to get in.Its hard since no one can point out on what would be the possible bottom would be
but once you do have that proper experience and awareness on how this market behaves then you do always have the idea on what are the next steps that you would probably make.

It is normal that people get worried about the negative movements in the price of bitcoin, however what it is not acceptable is that people panic since it is not as if we have never seen bitcoin moving like that, we can clearly see even more adverse movements in the past so people should have prepared themselves for this, however if we can think for the long term we can also see that bitcoin will move up once we get closer to the next halving, which means that the price that we are seeing is the perfect opportunity to get some bitcoin for a cheap price and then get great benefits a few years in the future.