Topic: What do you think of the current bitcoin price recovery? (Read 1112 times)

The current positive action and recovery is micro rather then macro as it needs to be.   If we continue upto 64.5k and then trade downwards nothing new happened, we only repeated all the prior price action in BTC which led to 52k as recently as the start of September.

If we can exceed and close the week above 64.5k it will be the first time since March we have managed to endure long enough to break a negative sequence.   A failure to continue that negative though it was seemingly slight, could mean we finally break upwards properly not just repeat with just more hopes for better in future.

Mid 60k prices was the trading high for August, the high 60k prices was the highs for July.  Each time I mention a high going backwards its higher, unfortunately we are going forwards which means lower is to be expected.

 I do hope we break this ongoing sequence, but it could go either way breaking lower only to fail and then BTC will be positive; I cant not be sure yet but I'd hope this month is when we know either way.

At the moment bitcoin is riding towards the 64k price, and this is what we have being experiencing from the market all through this new week now, the price of bitcoin have been on a consistent increasing basis and at that we have to learn to hold on more to our bitcoin much more than we are in a rush to sell, this is very important but the hard part in this is, our inability to hold on to bitcoin when we see some profits already.

Most of the times when we liquidate our bitcoin holding in any market, it tend to always work against us and as a matter of fact in most cases our outcome becomes entirely different from what we expected, alot of trader's have lost significantly due to that line of thoughts and at some point our greed have played a vital role in our losing at each point in time.

Many times when we have opportunities to buy at discounted price,we Fail to buy,and some other time even when the price was around 42k some thoughts that the price of bitcoin will fall further, but at the end, it all ended up going to 63k+ right now.

Right now bitcoin is trading between 58k$ to 60k$ and there will be no huge pump in coming days. We can see dip in Bitcoin’s price, the price will drop to 42k$ and then after 2-3 months and by the start of 2025 we will see a pump and bitcoin can reach its new all time high price. This is just prediction by seeing the market trend and by listening to the analysis on bitcoin.

The current Bitcoin price recovery now is on the right track although we often to see the correction but that is normal. Maybe we will see a down time for Bitcoin which can make altcoin gets the effect but there is nothing to be worry as the market will increase again in the right time. People who sell their Bitcoin fast without think should understand that they are make a mistake but it seems, those people don't care about that. They think that by selling their Bitcoin in that time can give them a chance to buy back at a low price. But the fact is they can not always buy at the price they want. They really must to learn how to manage their emotion if the price is down so they don't panic and can still hold their coins especially Bitcoin.

When it come to Bitcoin recovery from the market, I don't use to be worry myself about the recovery of Bitcoin in the market, because I know where the price of Bitcoin started from some years ago which I know it will not remain in a particular price through out the month or year. You must experience  decreasing and increasing in the market before the price of your choice can come to pass, because investors make use of the two to create opportunity that will favour them in the future when the bullish season appear, which is what holders are waiting  to see before the end of this month, because many holders want to release their Bitcoin when the price hit $100,000. Bitcoin is more reliable than altcoin if you want to make a good income from your holding, because the team behind Bitcoin are more stronger than altcoin which is one of the advantage of Bitcoin.

No one should shift blames to weak hands and as a matter of truth, weak hand are the most victims in this case because when their rush to sell their Bitcoin, the stronger hands pick the Bitcoin up from them at a cheap rate and they end up losing along the line, so blaming them for market crash may be a waste of our analysis and speculations because their are more victims than actors in the Bitcoin market eco system.
The whales are responsible for bitcoin market reaction and shift in direction, some times, when their want to buy at low price, their force the price of bitcoin to drop by causing some crisis in the market demands and focusing the wave to the direction that suits them, alot of them have been exposed in the past, but hey this is business and is all about the profits so there is nothing illegal with whales activities, what we need is the right knowledge that will help us to make right market decisions and we need patients to followup with the market demands and act as at when necessary to avoid rush in selling off our asset's.

I want to believe otherwise but the trend is down.   We could say well its in a box but I think the bottom of this box is falling apart, it was flat in aggregate for quite a while.  The highs were similar and the lows also but increasingly it appears as a trend downwards.

We could resolve positively, the bottom prices could be challenged and we rise from there.  A good challenge can end up with very positive action but that hasnt happened yet and its not a great idea to stand in front of a freight train with expectations it will turn around.

Current prospects hang by a thread, closing low of Aug 5th is also the price today.   We arrived here and we've sat, the one thing left is end of weekly bar today and then the week opens and we'll see.  September onwards is 'busy' so it should be less boring, take that much as a positive I guess.

My expectation is every price of 2024 will be double checked, the gains, the initial months the lower set of BTC prices need a sound check.  Then a more accurate conclusion can be drawn

In any speculative market the main phases of the market will always be present, now in bitcoin it is in a phase where it is clearly seen that it wants to recover much more, but it must be seen that they may also be testing the resistance level , that is, the demand,  if the Supply is already high the demand falls and therefore the price falls, sometimes it is the supposed war of bears and bulls in the market, it also has a lot to do with the fluctuation of market volatility, bitcoin at these moments is Good to buy and hold.

Everyone is really that expecting positively for the month of September on which basing up on that table that shown that it is a bullish month and this is why lots had been anticipating even more on the month of October.
With the current price condition or movement that we do have on which we are currently sitting on $56k on which it did really go lower and without having any news or fundamentals around that do justify such drop
then we could really say that it is really that hard to predict on whats next. Also having 5-10% per day movement is really just that typical ordinary day in crypto when it comes to price movement or simply with the volatility.
Recovery would really be always that inevitable yet this market could really be only have two possible movement on which going up or down or adding up that sideways movement on which this is the moment or time that could give out those kind of doubts or hesitance on making up some positioning

This is why it would really be that survival of the fittest when you do tend to step your foot into this market. You cant really just that make yourself having that kind of impulsive emotions on the time
that this market is really that behaving something like this. If you cant bare it out then this market isnt really that for you and find for another career that you could withstand. 

There is no indication that September will be a promising month, except for people's expectations. If you look at yearly history, September has always been the worst month for bitcoin. Not to mention, based on the macroeconomic situation, things are going to get even bleaker as recession fears are looming over our economy. That is also the reason why the entire stock market has plummeted in recent days.

Overall there is no news to suggest that September will be a promising month except for the Fed rate cut, but there is a possibility that "sell the news" will occur instead of bringing optimism to the market.

We are all clueless to what will happen next. But despite that, we are all still in the belief that recovery is always there after corrections. Although we can't expect a fast recovery, our faith remains because we trust bitcoin upon investing. Maybe those who are impatient will never be that easy and sometimes give them doubts and decision troubles, but for us who have been here in the market for quite some years, we remain calm and easy.
In the end, only investors that carry positivity in mind remain holding bitcoin, but impatient people sell their coins right away. That is why not all investors stay long; some will go with disappointments. 

September was expected to be a promising month for Bitcoin, but so far nothing exceptional has happened. It's quite the opposite as Bitcoin is struggling to keep its price stable. The tendency is bearish and it seems strong on the recent days.

The market isn't reacting positively, what just reinforces the idea crypto industry is unpredictable. When many people think Bitcoin is going to move in a determined direction, it's possible the market moves on the exact contrary way. When investing in crypto, it's not a wise idea to do what everyone is telling you to do.

It's better to stay with the silent minority which doesn't warn before acting.

Those that delve in altcoins should do well to remember that they are supposed to be used only as speculative assets, trying to hold them for the long term is not really a viable strategy, because as we know most altcoins once they experiment a dump never recover, so anyone that was invested at that time in those coins will lose their money without any possibility of getting it back, and once that happens it is likely that such an investor will make several other mistakes that will generate them further losses.

Bitcoin's recovery so far has been slow - but not non-existent. The market is trending sideways and this kind of consolidation phase is still going on today. Who knows what's next - but many users are still optimistic about the big growth of the market capitalization in 2024. We are already in September - so there is new hope to look forward to. But I admit - some investors are probably just watching the current market conditions before entry in and buying big.

The last 4 months of the year are a bit sluggish - but let's see what happens in September, October until December. I think there's a lot of optimism going around - so don't worry too much.

Weak hands are not always responsible for market downs, there are also many investors in this market who bought large amounts of Bitcoin when Bitcoin went under $20k. Investors come to the market to make profit and trade by considering the market position. Now those who bought at low price and now if they think it is enough for them then they start selling when the market goes downtrend.

So I think there is no market to blame the weak hand anymore as many big players have entered the market. When big players enter the market, small weak hand traders, investors do not have the power to make a big change in the market. So big investors have a lot of influence on market changes and we have seen many smart big investors book big profits in the market in recent times.

Relatively every investor keeps assets in a personal wallet because they do not use bitcoin for short-term profit trading, besides they avoid not always monitoring market movements and news so as not to be affected by negative news that can trigger changes in investor strategies to sell their assets due to negative issues. Holding assets on any exchange is very risky, recently there was news that a user's assets were frozen because he lived in a country (I did not mention). However, regarding the current price movement, there is no need to worry that there will be another decline and after reviewing various sources that the market recovery will be higher than before, we predict that there will be a big chance that bitcoin can reach ATH this year.

If you still have Bitcoin safely enough in your own wallet, I don't think you need to worry about the current price drop because Bitcoin can always recover after the price dump in the market. But for altcoins it will always be worse when Bitcoin is dumping because altcoins will also experience it to a greater extent so you can ignore altcoins or sell them when you have a little profit from it because altcoins always have a high risk to hold for a long time. But Bitcoin always makes a difference so it can always be relied on for long term purposes.

There are two big ifs involved in rate cuts effect on bitcoin price in my opinion.
IF they actually cut the rates enough that we can consider it an actual decrease (not like 0.1% cut) and IF that can impact the deepening recession (either stop it or reverse it) we can definitely see less sell pressure on bitcoin which means an easier bull run.

It's not likely we're moving back to the 70k in september. I expect a small recovery to happen in the upcoming month, but we may also get another dump. Some news says there will be a rate cut in September. But, it is unlikely to have much impact on the crypto.



Bitcoin rarely does well in September, and this has happened many times. It makes me pessimistic to say we're going green soon. I expect we may be dumping to the 55k before we'll get major run toward 70k.

Also, US stock market is not looking good now. I expect a small correction to occur very soon. And we may be facing bullrun to start in October till december. However, my prediction may not happen. I only speculate based on the data we have from before.

Whales have always dominated cryptocurrency platforms, and any ups and downs in the market can be seen by whale investors. If whale investor sells his assets, the negative impact on the market causes the price to fall and at that time some investors panic and lose money. But those who have been in the market for a long time use that time to increase their wealth. They all know that Bitcoin price will rise. After every fall it will bounce back.

Rise and fall is a natural process of trading market. We had an ATH in Bitcoin last few months ago and the market has been a bit behind from the price. When the market is bearish, the possibility of bullishness also increases because the whales will take advantage. The market has lost 7 percent in last 7 days and I hope that price will recover in next few days.