Topic: Where next for Bitcoin: $20K or $50K? - page 2. (Read 446 times)
I see that the demand of the coin is increasing among the people. We also know that Bitcoins are limited in numbers, so this only proves that in order to meet the demand, the price has to go up. So yes definitely we will see price of the coin increasing in the near future. If also price drops by chance, then no need to panic. Try to accumulate as many coins as you can during that low price point, now wait and again when the price increases, sell it for high price. So my take will be definitely that the price will go up. Let’s hope for the best.
I think the price would be moving up and down within $20,000 and $50,000 for the next few months. But I don't think it would hit either $20,000 or $50,000. $20,000 is more possible than $50,000 though. After all, this $30,000 is not secured yet. We could lose it any moment from now. The correction could cost us a strong blow that would pull the price down near $20,000. $50,000 is too far up there. If it arrives, it will be a late third quarter or fourth quarter.
I had the same line of thought as yours because at the moment Bitcoin has not built enough liquidity around the recently achieved 30k price and that could be a great risk for Bitcoin price sustenance. But then even of we see a pullback may not low as 20k that could be too big a fall that will not allow price recovery to anything near the 50k price prediction, I believe that we may see a more uptrend Bitcoin price than a downward correction so for that we are near 50k that we are to 20k correction but I can say the time frame to achieve that.
What is certain is that $50k is still too much for bitcoin to achieve.
Maybe the next target for April is around $35k-$40k first, but it will surprise us if it can reach $50k straight away.
That means we are getting closer to reaching the last ATH and of course, we can reach the next ATH this year and maybe it can be achieved before the end of the year.
What's more, I see that from early April until now, the price has not been able to penetrate $32k-$33k but we still have time to see if the price can reach $40k soon.
And right now, the bitcoin price seems to be still in the correction position and let's hope it doesn't drop below $30k.
Maybe the next target for April is around $35k-$40k first, but it will surprise us if it can reach $50k straight away.
That means we are getting closer to reaching the last ATH and of course, we can reach the next ATH this year and maybe it can be achieved before the end of the year.
What's more, I see that from early April until now, the price has not been able to penetrate $32k-$33k but we still have time to see if the price can reach $40k soon.
And right now, the bitcoin price seems to be still in the correction position and let's hope it doesn't drop below $30k.
A big jump will occur if this week the price can reach $ 35k, investors will be more optimistic about bitcoin so that the important price right now is to touch $ 35k, but if next week the price drops below $ 30k then the chance for a pump to occur is very small so it takes longer to be able to rise again.
That's not actually how it works for increments of bitcoin, if the price fails to rise within this week its not a clear evidence that it will not rise again, it can go down to twenty eight thousand (28k) and increase more than our expectations, so the market of cryptocurrency is unpredictable generally, and another thing is that Bitcoin can rise now due information that comes across of it now. Another scenario we can use to analyse the increments of bitcoin is when the gravity of people who is buying bitcoin is higher than the people supplying, that's is another indicator to proven that will have more time before the increments might manifest. And another thing is that since Bitcoin has been making a positive step throughout the beginning of the year to this extent it may increase more or not, so the increments of bitcoin is under probabilities and not guaranteed because its doesn't depends or rely on anyone. 
Although we are closer to $20K than $50K, I believe like most of those who voted that it is more likely that the price will continue upwards, gradually, until it reaches $50k, without going back to $20 which seems to me too low for a dip, as it was the top of the previous cycle, and although as cycles progress it is normal for returns to be lower, it is still normal for lows as cycles progress to be higher.
This is key, although after a rise I would expect a dip, I think it will be higher than $20K, but we cannot predict with certainty with behavior as volatile as Bitcoin and less knowing that although there is some regularity in the cycles, the patterns we project won't necessarily repeat.
I agree I don't really see a logical reason for price to drop back down to the lows, or even $20K for that matter, maybe $23K at most. But Bitcoin's price movement doesn't always have to be logical, or directly in line with it's fundamentals all the time.
This is key, although after a rise I would expect a dip, I think it will be higher than $20K, but we cannot predict with certainty with behavior as volatile as Bitcoin and less knowing that although there is some regularity in the cycles, the patterns we project won't necessarily repeat.
Is it finally time for a correction back towards the lows,
You can't correct a correction!Going back up to $30k is only part of the correction to get bitcoin price back to a more realistic level that is closer to its intrinsic value. There is no logical reason to see it drop back down again. The only way we can see another drop is market manipulation and another wave of panic sells or when the economy crashes harder (at a different pace otherwise it is already crashing).
I agree I don't really see a logical reason for price to drop back down to the lows, or even $20K for that matter, maybe $23K at most. But Bitcoin's price movement doesn't always have to be logical, or directly in line with it's fundamentals all the time. I don't think market manipulation would move price that far, but if the market get's over-leveraged long, there there good be a long squeeze black swan event for example.
back to your chart and my chart it looks very hard to break the major resistance now and according the RSI and other Indicator it seems the price is exhausting
Weekly RSI is testing overbought territory, that much is true, but I wouldn't necessarily say on it's own it means price is exhausted - only overbought. For example the last time Bitcoin's Weekly RSI entered overbought conditions was October 2020 at around $13K, which led to the run-up to $64K without much of a pull-back. Likewise in 2019 at $6K resistance level prior to reach $14K. In fact excluding November 2021 ATH, where there was bearish divergence and price getting rejected from these overbought conditions, when the RSI reaches overbought it usually stays there for a while and leads to a considerable increase in price.
The only sign I see of price being exhausted is the decreasing volume since November last year. That will need to change in order for price to move considerably higher.
The weekly candle is still above 1200 EMA and currently retesting at fibbo based trend and 30K is a crucial point it is a BIG MAJOR resistance.
So the choice is two we are gonna see side away for couple of days and continue running or we are gonna see a more steep correction to 26-28K and back to bull
back to your chart and my chart it looks very hard to break the major resistance now and according the RSI and other Indicator it seems the price is exhausting
So the choice is two we are gonna see side away for couple of days and continue running or we are gonna see a more steep correction to 26-28K and back to bull
back to your chart and my chart it looks very hard to break the major resistance now and according the RSI and other Indicator it seems the price is exhausting
full member
Activity: 1414
Merit: 129
The first decentralized crypto betting platform
With price now at the 2021-2022 previous 18-month long support level around $30K, as highlighted, where do you think price will go next?
Is it finally time for a correction back towards the lows, or a continued relief rally towards $50K? Similar to $25K, this is a level where many speculators believe price might be strongly rejected, because the previous strong support level could well turn into new resistance.
Is it finally time for a correction back towards the lows, or a continued relief rally towards $50K? Similar to $25K, this is a level where many speculators believe price might be strongly rejected, because the previous strong support level could well turn into new resistance.
Just my opinion but I support the speculation of a correction coming instead of a continuous pump because we have been rising for so long now and we shouldn't forget that we're still in the bear season and not out of it yet. The market is now getting too positive and most speculators are expecting Bitcoin to continue increasing but it mightn't happen that way.
My prediction are just short term as I'm positive in the long term but we'll likely see a pullback to $25k before we get to $50k or other higher price. If this correction was to happen then it'll be healthier for the market then the price to continue rising. I'm patiently waiting for my buy order at $25.500 to be filled.
Not only have we grown steadily over the past few months, but I've seen many people believe that we'll continue to grow to $35k or $40k, and I agree with your thinking. Because when greed in the market starts to rise, which is also when bitcoin is likely to correct, bitcoin tends to go against the crowd rather than follow what the crowd wants.
$25k is probably good support for this correction, I hope bitcoin can get there, and it would be great if it can get $22k, which is also a desirable price. If that happens, it will cause a new panic in the market and be an opportunity to place buy orders rather than fear.
Is it finally time for a correction back towards the lows,
You can't correct a correction!Going back up to $30k is only part of the correction to get bitcoin price back to a more realistic level that is closer to its intrinsic value. There is no logical reason to see it drop back down again. The only way we can see another drop is market manipulation and another wave of panic sells or when the economy crashes harder (at a different pace otherwise it is already crashing).
With price now at the 2021-2022 previous 18-month long support level around $30K, as highlighted, where do you think price will go next?
Is it finally time for a correction back towards the lows, or a continued relief rally towards $50K? Similar to $25K, this is a level where many speculators believe price might be strongly rejected, because the previous strong support level could well turn into new resistance.
Is it finally time for a correction back towards the lows, or a continued relief rally towards $50K? Similar to $25K, this is a level where many speculators believe price might be strongly rejected, because the previous strong support level could well turn into new resistance.
Just my opinion but I support the speculation of a correction coming instead of a continuous pump because we have been rising for so long now and we shouldn't forget that we're still in the bear season and not out of it yet. The market is now getting too positive and most speculators are expecting Bitcoin to continue increasing but it mightn't happen that way.
My prediction are just short term as I'm positive in the long term but we'll likely see a pullback to $25k before we get to $50k or other higher price. If this correction was to happen then it'll be healthier for the market then the price to continue rising. I'm patiently waiting for my buy order at $25.500 to be filled.
A big jump will occur if this week the price can reach $ 35k, investors will be more optimistic about bitcoin so that the important price right now is to touch $ 35k, but if next week the price drops below $ 30k then the chance for a pump to occur is very small so it takes longer to be able to rise again.
To be frank, a bitcoin price of $50,000 is unlikely to occur very soon. That's a significant increase from the $30K it recently entered. I believe the price will continue to rise, although with a few setbacks for adjustment before reaching the $50,000 threshold. The bull run and halving are still a long way off; the price may have risen past the $50,000 mark before the halving occurs. I expect the price to remain below $30K until another surge occurs, which might lead to a price range of $33K - $37K before another correction occurs. By the end of the second quarter of this year, $50,000 is quite likely to be within reach.
50,000 dollars is to expensive to come at this time. Having being able to make that $30,000 does not guarantee that it will automatically go to 50,000 dollars.
The expected bull run during the halving is still far from now, so I do not expect that level of bullish markets to start from now.
I will be expecting some kind of correction back to the level of 20,000 dollars and 25,000 dollars and the price will remain there for a given period of time before it will make another movement above 30,000 dollar.
I have already voted on the $50K price for Bitcoin's next move. But in April, I speculate that the Bitcoin price will move to the price of $35k and will stay at that price until the end of April.
At least I judge that inflation seems to be no longer a driving force behind the rally.
I have an assumption that if the Bitcoin price strengthening movement has started, the process will move slowly.
I have already voted on the $50K price for Bitcoin's next move. But in April, I speculate that the Bitcoin price will move to the price of $35k and will stay at that price until the end of April.
At least I judge that inflation seems to be no longer a driving force behind the rally.
I have an assumption that if the Bitcoin price strengthening movement has started, the process will move slowly.
-snip-
Bitcoin couldn't hold its price above $30k for very long, it has already dropped below and I think it will drop more in the coming days, we might not see it going specifically to $20k, but it will surely provide buyers another chance to get in on the ride way cheaper than now.
This depends on how the market fundamentals support or not, if there is some FUD that starts to appear Bitcoin will certainly correct soon. Bitcoin couldn't hold its price above $30k for very long, it has already dropped below and I think it will drop more in the coming days, we might not see it going specifically to $20k, but it will surely provide buyers another chance to get in on the ride way cheaper than now.
To be able to stay above the $30k price requires a lot of technical and fundamental support.
Currently, Bitcoin's position in the 1D Time Fare is in the Uptrend Console area and is still trying to reach the Bullish Console Resistance in the $32k price area.
But if it fails to close above $29k at the end of this month, it will start to correct, or if there is FUD that appears, it will immediately correct.
To reach a much cheaper correction trip like $20k than you expect, is still quite difficult because of some strong supports that must be broken to get there.
Support $26k, $24k and most recently $21.6k
Bitcoin's journey is still quite long, some corrections will certainly occur and this will also be influenced by market conditions and some FUD that will arise.
But hopefully, Bitcoin can stay above when the Support.
I'm not able to vote in the poll for some reason, it says it has either been locked or I have tried to vote twice while it was the first time I was trying to cast my vote. Anyway, if I could vote, I would definitely go with $20k, because that seems to be a more likely target from this point. Though we were all hoping for the price to cross $30k, it doesn't really look strong at the moment.
Bitcoin couldn't hold its price above $30k for very long, it has already dropped below and I think it will drop more in the coming days, we might not see it going specifically to $20k, but it will surely provide buyers another chance to get in on the ride way cheaper than now.
Bitcoin couldn't hold its price above $30k for very long, it has already dropped below and I think it will drop more in the coming days, we might not see it going specifically to $20k, but it will surely provide buyers another chance to get in on the ride way cheaper than now.
We’re going on a sideways trend after Bitcoin having a hard time to break the resistance.
I want to remain Bullish up to $40k this year and I think we are heading into that price slowly but surely. Corrections might also happen but I can’t see the price of $20k anymore, we are too bullish for that price especially on a monthly time frame. Bitcoin needs more good news, as we are approaching the next halving, this is a good sign of bull market.
I want to remain Bullish up to $40k this year and I think we are heading into that price slowly but surely. Corrections might also happen but I can’t see the price of $20k anymore, we are too bullish for that price especially on a monthly time frame. Bitcoin needs more good news, as we are approaching the next halving, this is a good sign of bull market.
To be frank, a bitcoin price of $50,000 is unlikely to occur very soon. That's a significant increase from the $30K it recently entered. I believe the price will continue to rise, although with a few setbacks for adjustment before reaching the $50,000 threshold. The bull run and halving are still a long way off; the price may have risen past the $50,000 mark before the halving occurs. I expect the price to remain below $30K until another surge occurs, which might lead to a price range of $33K - $37K before another correction occurs. By the end of the second quarter of this year, $50,000 is quite likely to be within reach.
Again this doesn't really answer the question what-so-ever, you are thinking too short-term (similar to others in this thread). Will price next reach $20K or $50K, regardless of whether it takes many months or years? Of course you are free to argue that price won't reach either, and will forever be stuck between $20K and $50K, but to me this seems unrealistic. At some point, price will reach one target or the other, surely.
a position whether getting in on a possible bottom or support and later on we would really be making out profits on the time that the price had gone up. $20k or 50k, there's no way on predicting it
because this market had been unpredictable in the first place. Thing here is that you should really be prepared to blend up on whatever situations might happen ahead.
To be frank, a bitcoin price of $50,000 is unlikely to occur very soon. That's a significant increase from the $30K it recently entered. I believe the price will continue to rise, although with a few setbacks for adjustment before reaching the $50,000 threshold. The bull run and halving are still a long way off; the price may have risen past the $50,000 mark before the halving occurs. I expect the price to remain below $30K until another surge occurs, which might lead to a price range of $33K - $37K before another correction occurs. By the end of the second quarter of this year, $50,000 is quite likely to be within reach.
Again this doesn't really answer the question what-so-ever, you are thinking too short-term (similar to others in this thread). Will price next reach $20K or $50K, regardless of whether it takes many months or years? Of course you are free to argue that price won't reach either, and will forever be stuck between $20K and $50K, but to me this seems unrealistic. At some point, price will reach one target or the other, surely.
To be frank, a bitcoin price of $50,000 is unlikely to occur very soon. That's a significant increase from the $30K it recently entered. I believe the price will continue to rise, although with a few setbacks for adjustment before reaching the $50,000 threshold. The bull run and halving are still a long way off; the price may have risen past the $50,000 mark before the halving occurs. I expect the price to remain below $30K until another surge occurs, which might lead to a price range of $33K - $37K before another correction occurs. By the end of the second quarter of this year, $50,000 is quite likely to be within reach.
Jump to: