Topic: What do you think of the current bitcoin price recovery? - page 2. (Read 1112 times)

Now I believe that bitcoin is still a bit far from achieving $70,000 price in the month of August as all attempts to go close to that 70,000 bitcoin price have failed severally and for that reason we need more time and patience to be able to look forward to that price in the coming months, this month of August is already ending and for sure bitcoin is at a correction level right now being currently around 58,000 to 59,000 without any big stability toove above that and even the 65,000 attempts within the last week all failed to be achieved, and I think that this is the best time to buy more bitcoin if there is some cash reserves for that, most of those that DCA are currently accumulating more bitcoin and getting ready to offload they bag load when the price of bitcoin will reach that high in the coming months.

Between that on a general note, bitcoin have Indeed made some significant positive response to the market forces since the price have resisted alot of attempts to be forced downward on several occasions, even though our speculations of going all the way to 70k have failed, we shouldn't failed to acknowledge that fact that bitcoin have make alot of remarkable resistance severally when the price wanted to pull below 55k in the past few days

And if I may forcast the month ahead, I will say that it is going to be filled with more positive price movements, and whatever bitcoin have failed to achieve on the month of August will be corrected in the coming month and if care is not taken, bitcoin could go above teb extimate price of 70,000 in September.

If you are a long term holder then this would really be mostly happens on which you wont really be that not that updated all the time on which on the time or moment that you do find yourself having those
kind of investment plans but actually you are really that missing out those golden opportunities to buy more when the market had made out some dip or correction. Yes, the price had gone below 50k on that last drop
but it didnt go below that much on which there are really those sayings that it would be go even to $42k but it didnt happen. Now we are making some sideways movement after that drop
on which this is actually the hard time on making up your positioning considering that price movement is really that showing having no clues in terms of TA on where it would possibly go.
Therefore, trading experience and skills will really be that relevant everytime that you would really be making positions.

In fact, I haven't really followed Bitcoin price movements since the end of July, only checked occasionally and it was quite surprising to see the price go below $55,000. Panic certainly created, but is that a good opportunity to buy? I think it depends entirely on their financial ability and knowledge about Bitcoin, believers and having a lot of money is an opportunity but there is also definitely the opposite. Now it's the end of August, $70,000 doesn't seem to have happened yet so my speculation is that it will only happen next month and the price will only be around like today in this month and next month maybe something better will happen to Bitcoin

Bitcoin in general appreciates its price in time, but prior to that, those pumps and dumps or price correction are somewhat relevant before bitcoin will continuously increase its price. Note that bitcoin itself is highly volatile as well as its unpredictable market, so even if we anticipate for more bitcoin price increase that I think will definitely happen in time, but the fact that it’s volatile in nature only means that we should also learn to accept that bitcoin may suddenly drop its price all of a sudden and then recover afterwards.

Bitcoin has corrected the price of dumping in various stages but the altcoins that dumped along with Bitcoin are not able to correct the price anymore. The amount of price dumping after investing my bitcoins has almost corrected the price of bitcoins giving me losses. However, Bitcoin will increase and decrease at different times but will never permanently dump from the market, but once the price of altcoin is dumped, its recovery becomes impossible.

Just for context, Bitcoin didn't even reach the $65,000 price range again ever since it happened in the first weeks of August (2nd of August to be exact), and Bitcoin reached $50,000 once (even went below it for a short amount of time) during the 5th of August.

With more or less 4 days remaining for the month, it's pretty obvious that Bitcoin reaching $70,000 will not happen. What I expect is that, it will reach that price during the 4th quarter of the year. Historically speaking, Bitcoin is performing well during the final 3 months of the year especially during the month of October so I guess we will see the same this time.
Why are we blaming only the weak hands? I mean do we consider those who want to sell their Bitcoins "weak hands" as well?
What if for example, I'm a long term holder of Bitcoin and I want to sell it at $50,000 but my buying price is around $10,000? Am I one of the "weak hands" investors then? I don't think that only these kind of investors are to blame when a huge selloff happens. Let's also include those who also want to take profit at that price as well for some reasons.

The whales control the market, and they can indeed effect the market in whichever direction the want and since their are sometimes most active trader's, the constantly keep pushing the price of bitcoin each time they want , when their want to fill up their bags, their make the price of bitcoin to dropped and then they buy more, this have been a known fact for a long time now, also aside from the whales we have other factors that can influence the price of Bitcoin in multiple times, like news and other social factors, this have made the market price prediction to be almost impossible in most cases, expecting all time high each point when the price touch the bottom may also be a bit out of connection this is because, Bitcoin market correction sometimes we can extimate the time Bitcoin market correction, and for that we marketing attempt to predict when and how the market will go is just an effort in futility and that is why we always say that Bitcoin market movement is unpredictable.

The best we can do is to prepare ourselves, online with the situation, and that is where the knowledge Factor come into play, Bitcoin l, so at each point we have to keep ourselves equipped with the knowledge of the market, and reading chart to know both corrent and future events and what we expect from the market, those that have the knowledge can be moved with any market situation, and newbies should invest in knowledge aside from putting their money into Bitcoin.

Whales can do anything to affect the market because they have high assets that can drop the price of bitcoin by several percent on the exchange, traders and weak hand investors will be easily affected by these conditions so they sell their assets to cut losses even though they know the market will recover soon but they are not ready to wait and are not ready to accept the risk of market correction.

They need knowledge to understand the unstable crypto market conditions but actually the market will stabilize after passing the correction moment and the market will prepare to go to higher prices and we predict ATH will come soon at the end of the year, so anyone who has bitcoin assets should hold on to achieve the profit target you expect in the future.

Indeed, the price of Bitcoin is in a lunar phase and this week there has been a change to increase, but if I speculate, it's just an unofficial, illegal gaming phase, I'm very sure there are shrimps behind the rock.

From the experience I've seen, price spikes of $5k to $10k per 1 Bitcoin often happen, it doesn't indicate that Bitcoin will reach a certain point, many investors play like that, first: they buy in large amounts, they don't want to stay long in the market, ahead of the price rise for Bitcoin, they let it all go, I speculate maybe we will see in the future the price of Bitcoin occupying the $50k level, the current situation seems to me a gimmick.

Weak Hands ...Ahh it has been told many times that weak hands sell and the market dumps. This is not the case because the weak hand are mostly retail and dumping won't affect the market much. Actually, it is the whales who sell or buy and the market moves because of them. Yes, the retail also buys or sells based on how the markets move but we are taught that the weak hands sells 



The market will move on its own, we should have a plan as when we will stop buying after a certain price and at which price we will do the DCA. Also we should have a selling strategy as to when we will sell in parts so that we gain maximum profits.

For those people who are really that taking this first bull run experience whether on Q4 or on Q1 of 2025 then its something that will really be just that a normal approach or thinking  that they are really that excited
into this upcoming event on which everyone is really that anticipating. Somehow it would really be better that you shouldnt really be that making yourself that being too optimistic towards the market because
we are really that still hovering ourselves towards the market on which anything could really happen in a snap.  Price recovery and dumps will really be just that always that tie up together. Instead on making yourself that thinking up too much about the bull run thing, then why you cant really just that make yourself minding about getting some opportunity on getting on low price whenever the market corrects or having some dumping state?

Always put up into your mind that market could really be that so volatile and there's no way that you could really be able to predict on where it would be going. This is why on the time
or moment that you do find yourself having those cheap prices then it would be ideal that you should really be accumulating as much as you could or simply speaking about DCA.
This is why its important on having those kind of mindset or thinking whenever you do see those opportunities.

The realization of bull run coming is such a good period that I love it every time it happens. There are way too many people who do not see that unfortunately and because of that there are too many people who make mistakes. We need to make sure that people know that this isn't really the way it will go and the bull run is coming. Historically speaking, we have seen that whenever there is a halving, it takes about a year to peak and we will probably peak by spring of 2025, I have that feeling but I can't guarantee it so I do not suggest anyone to do anything.

However, I do accumulate myself, because I know that it has happened before and I am feeling like it's going to happen again, we are going to probably end up with something much higher eventually. This is why accumulating right now is a great feeling, I do not have nearly as much as I want to have, but I have some and I am hoping to get even more in a few months, with the hopes that I can get before it starts to go up a lot.

Weak hands should really think about what they are trying to accomplish by investing in this market, after all the movement that had bitcoin reach a price close to 50k not too long ago is not exceptional at all, as we see movements like that all the time and we will keep seeing them on the future as well, so unless they can accept this is the reality of this market, then they will keep selling their coins when that happens and losing money will be inevitable for them.

That price fluctuation is a natural thing in the bitcoin price movement, although indeed at that time the price reversal was quite high, and I have the same thoughts as you, for now we are in a sideway zone, which certainly the price movement will not fall significantly or rise exponentially, the price of bitcoin needs to consolidate and needs to form strong support at the price zone level, it is useful to jump higher for the price of bitcoin.

For things to get much better then we need to look at the long term in bitcoin, price volatility is normal, even if it is tens of % in daily price increases or decreases.

This is a good period where everyone is finally realizing that its not going to be going down forever, and this has to be very important for newbies, it is making a good teaching of a lesson for them. Too many weak hands sell as soon as they see it go down, but the reality is that its not going to go down for that long, it will recover and you just have to realize that.

This recover was something expected and nothing shocking, we all knew that it would recover and that's what it did, if you are a veteran then you knew that it would be back up .We are not only going to be at 60k for now, but we will break over 70k and even break over ATH after that, when that will happen is unknown but I know that it will happen. This belief in bitcoin to always recover, and always eventually break over all time high, is the reason why I keep putting more and more of my money into bitcoin, I know that it will do well and that is why I try to make as much money as I possibly could.

Everything is possible with bitcoin, it can exceeds the price of $70k but it can also move downward dramatically and reach a very low price. With its high volatility, both are very possible with bitcoin. However, what I see in the current market is a constant price decline at a small basis, which is not harmful at all. Probably this is not the right time yet to observe price surging with bitcoin, but eventually in the next months to follow, I have this feeling that bitcoin price will create some progress until we start seeing positive prices of bitcoin again. Patience is a must this time.

August is almost over and Bitcoin is still struggling to maintain a stable price above $60,000. All the high hopes that traders had for the month of August is not going to be possible again. To me while looking at the movement of the market, it is looking not possible for Bitcoin to be above $70,000 in August. I know the market can shift at anytime but the more realistic price should not be above $65,000 and selling Bitcoin at that price now is a wrong move when you can wait for a few more months and be capable of selling Bitcoin at $100,000 or above that price because although the market is not looking very good right now but still there is hope that when the bull market comes with all full force, that the price of Bitcoin is going to be trading very high and gets us to a new highest price.

We are in the bull run and these corrections are normal. If you are new to this market, you'd lose your patience and you only want to see the moving of price positively.

But that's not how it goes for Bitcoin.

And let's wait until autumn or even longer and hope that $70k will be reached again and more than that soon.

We noticed that a lot of volatility was complete for the entire tie bitcoin market during the month of August. Early August saw a lot of dumping in the Bitcoin market which reached a 2024 low of 49,000. However, even though the market reached $49K, the current market has improved somewhat. At the moment the market is standing at 61 thousand dollars. But I don't think the market will reach $70,000 by this August. Many may have taken advantage of this dumping market. Those who have been able to exploit it are at a bit of a profit right now. However, even if the market is down at the moment, no one should panic about investing, surely the market will grow and it is expected to achieve a good position by 2024.

70k on October or not, we wont really be able to know on whats ahead. Price of bitcoin or its value is really that making up some consolidation and its true that we are really that still moving sideways
and it would really be that hard to guess out on what would really be that next move of the price. We are really that still midway of month of August and here comes September on which its still
been known that the market wont really be that good on this month and here comes that October on which we do pretty sure that everyone is really that waiting up for this month.
Although there's no sure that it would really be that following on the same path just like on the previous cycle but we do know that it might not be the same but it do always rhymes.

This is why if you do really see this condition to be the sweet spot for you to make some entry then better do it rather than on making yourself that be missing out on buying with
these cheaper prices. The thing what surely other people which are waiting is into that possible 40k+ price point or drop or even lower. We arent that still yet
but we cant be able to tell whether it could happen or this would be the last price support before making some moonshot.