Topic: What do you think of the current bitcoin price recovery? - page 3. (Read 1675 times)

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.

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.