Will bitcoin go below $40,000 - page 2.

Stedsm

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Quote from: CaVO32 on May 01, 2021, 09:45:56 AM

But on the other note, not even a week the OP posted this thread and we are really back at $57k+. Which can possibly go to 60k again. For those who bought at 47k, you are now gaining profits not even a week of holding. The support is really strong above 50k. Are we seeing that the adoption nowadays is really different from previous years?

It's not 50k but 47k itself that holds a lot of volume which couldn't be broken, else you'd have seen BTC even under $43k but that didn't happen as bulls took over. Yes the type of adoption we are seeing through institutional investors is based on making financial gains and not to make use of it at all. They're just keeping their coins in different wallets as their wallets are their current bank accounts, and even such accounts are expected to deliver them huge gains.

CaVO32

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Quote from: rahmatrf331 on May 01, 2021, 09:33:43 AM

Quote from: btc_angela on May 01, 2021, 04:14:04 AM

Quote from: Stedsm on April 30, 2021, 02:42:12 PM

$40k still looks a possibility if an institution like Elon's Tesla comes up with a statement like they simply sold off their BTC assets just to show us there's ^liquidity^ in the markets. I believe BTC is still in its bullish phase but bears leave no chance at putting it down whenever they see least liquidity available downwards to throw and move BTC downwards which also liquidates many longs in futures and makes handsome profits to bears. This is a cycle where BTC can't just go up alone, so the higher it goes, the higher are its chances of getting down.

Yeah, probably this is just a test for Elon, he wanted to see the liquidity and there you have it, bitcoin plummeted to $47,500.

But now, we are back to normal, the market is now on the bullish cycle again and the gain in the last 24 hours? magical, as the price is going to $58k and probably we will going to see $60k in the net coming days. But it doesn't mean that we can't go below $40k though, we just need to be careful of those FUD and negative news again.

The movement of bitcoins has started to slow down with the volume decreasing with each exchange. is there any possibility that investors have started to withdraw their bitcoins to keep their wallets. if conditions like this it is possible that bitcoin will reach the peak point of exchange.

I see investors don't feel any pressure to exchange it, so it feels like it's safe.

How did you know that the volume is decreasing in crypto exchanges? Do you have reference data that can validate this assumption?

But on the other note, not even a week the OP posted this thread and we are really back at $57k+. Which can possibly go to 60k again. For those who bought at 47k, you are now gaining profits not even a week of holding. The support is really strong above 50k. Are we seeing that the adoption nowadays is really different from previous years?

rahmatrf331

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Quote from: btc_angela on May 01, 2021, 04:14:04 AM

Quote from: Stedsm on April 30, 2021, 02:42:12 PM

$40k still looks a possibility if an institution like Elon's Tesla comes up with a statement like they simply sold off their BTC assets just to show us there's ^liquidity^ in the markets. I believe BTC is still in its bullish phase but bears leave no chance at putting it down whenever they see least liquidity available downwards to throw and move BTC downwards which also liquidates many longs in futures and makes handsome profits to bears. This is a cycle where BTC can't just go up alone, so the higher it goes, the higher are its chances of getting down.

Yeah, probably this is just a test for Elon, he wanted to see the liquidity and there you have it, bitcoin plummeted to $47,500.

But now, we are back to normal, the market is now on the bullish cycle again and the gain in the last 24 hours? magical, as the price is going to $58k and probably we will going to see $60k in the net coming days. But it doesn't mean that we can't go below $40k though, we just need to be careful of those FUD and negative news again.

The movement of bitcoins has started to slow down with the volume decreasing with each exchange. is there any possibility that investors have started to withdraw their bitcoins to keep their wallets. if conditions like this it is possible that bitcoin will reach the peak point of exchange.

I see investors don't feel any pressure to exchange it, so it feels like it's safe.

btc_angela

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Quote from: Stedsm on April 30, 2021, 02:42:12 PM

$40k still looks a possibility if an institution like Elon's Tesla comes up with a statement like they simply sold off their BTC assets just to show us there's ^liquidity^ in the markets. I believe BTC is still in its bullish phase but bears leave no chance at putting it down whenever they see least liquidity available downwards to throw and move BTC downwards which also liquidates many longs in futures and makes handsome profits to bears. This is a cycle where BTC can't just go up alone, so the higher it goes, the higher are its chances of getting down.

Yeah, probably this is just a test for Elon, he wanted to see the liquidity and there you have it, bitcoin plummeted to $47,500.

But now, we are back to normal, the market is now on the bullish cycle again and the gain in the last 24 hours? magical, as the price is going to $58k and probably we will going to see $60k in the net coming days. But it doesn't mean that we can't go below $40k though, we just need to be careful of those FUD and negative news again.

Stedsm

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$40k still looks a possibility if an institution like Elon's Tesla comes up with a statement like they simply sold off their BTC assets just to show us there's ^liquidity^ in the markets. I believe BTC is still in its bullish phase but bears leave no chance at putting it down whenever they see least liquidity available downwards to throw and move BTC downwards which also liquidates many longs in futures and makes handsome profits to bears. This is a cycle where BTC can't just go up alone, so the higher it goes, the higher are its chances of getting down.

DU18

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Quote from: acener on April 29, 2021, 09:02:52 AM

I don't think that it could go below $40K now,
For me if it ever goes back below $40K I think the lowest would be around $35K it wouldn't go below it,
We had a price drop recently but it didn't go down below $40K so for me it is a good sign that it wouldn't easily go down below that price again.

from some of the experiences that existed when the price of bitcoin fell, usually it was the beginning of an increase again in the price of bitcoin, such as when in early January 2018, where the price of bitcoin fell quite drastically to touch the price of $ 3,083 from the previous price of $ 12,400, but over time when there was a lot of positive news news that continued hit bitcoin when it finally pushed the bitcoin price back by around $ 7000 at the end of 2019 and the bullish trend that occurred in 2020/21 was able to make bitcoin prices continue to break their record highs several times and when currently bitcoin prices are slightly corrected it seems like this is unnecessary we are afraid, because now bitcoin is starting to be accepted by many people in the world as one of the profitable investment assets so that it is likely that the price of bitcoin will rise again and break new record highs, remember 2024 is bitcoin halving day and I am very confident that bitcoin will be able to fly a price tag of $ 500K later.

sulendra12

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Apparently, Bitcoin is going back to 53K USD after Elon Musk tweets something about Bitcoin that he is still keeping Bitcoin.

Quote

"I have not sold any of my bitcoin," Musk said via Twitter, responding to accusations made by Barstool Sports founder Dave Portney that Musk dumped Tesla's bitcoin to make a "fortune."

Source: https://www.forbes.com/sites/billybambrough/2021/04/27/bitcoin-price-rallies-after-tesla-billionaire-elon-musk-sparks-wild-speculation-hes-buying-bitcoin/?sh=4fbf3ab915f9

Bitcoin had really bad dumped to $45K last week, but regardless of that it's still going up. We might reach $55K/Bitcoin in late May if we have good upcoming news to see later on such as Elon Musk tweets. Yet it still have chance to go back to 40K considering we had met $45K range before

Willitivity

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Bitcoin going below $40,000 right now seems like a long shot because there's a very strong support level around the zone of $40000 - $48000. We might see a couple of more dumps towards that level but it's very much possible that we'll end up at $100,000 faster than we can get to $40,000. Every single person has a bullish bias until 100K is achieved after which we can start seeing some real serious dumps to the price level. But this is crypto, we can't be too sure of anything so best to stay neutral but positive.

Dave1

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Quote from: acener on April 29, 2021, 09:02:52 AM

I don't think that it could go below $40K now,

I also wanted to think that way, as the price goes back to $55k after a huge drop.

But then again, was surprise to see that it is hovering at $52k again.

Quote from: acener on April 29, 2021, 09:02:52 AM

For me if it ever goes back below $40K I think the lowest would be around $35K it wouldn't go below it,
We had a price drop recently but it didn't go down below $40K so for me it is a good sign that it wouldn't easily go down below that price again.

Everything is still possible at this point, it can go back below $50k again or even lower. Probably another sell off did occur because of some negative news again. So we will have to see, anyways, it's almost the end of the month. Let's just be optimistic that May will be a good month for bitcoin and the rest of crypto, no more bleeding at least.

acener

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I don't think that it could go below $40K now,
For me if it ever goes back below $40K I think the lowest would be around $35K it wouldn't go below it,
We had a price drop recently but it didn't go down below $40K so for me it is a good sign that it wouldn't easily go down below that price again.

arwin100

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Quote from: Hippocrypto on April 29, 2021, 07:11:40 AM

Quote from: Ziskinberg on April 25, 2021, 04:40:08 PM

Looks like we are again going for a dive, look at the price now.

Today, the price is below $50,000 and it's dropping big time, my question, with this movement, will we see a bitcoin price below $40,000?

I've seen that there's a significant downturns previously but that doesn't mean we're going to be discouraged, in fact we should be glad if we're going to see $40k once again. The more fluctuations that tend to exist, the more opportunities to come for all of us who've wanted to buy at cheaper price. For those who bought at high value, keep accumulating your balances while there's still a chance to see lower price coming.

The only one who get discouraged about that drops lately are those people who get a high hopes to earn thinking they can earn more if bitcoin pumping and they didn't even think that this dump will happen, mostly of them get panic and always secured their remaining cash and didn't do a buy back because they are afraid to get burned again.

Somehow your right if those people who got stuck accumulate more at the dip for sure they earn more money today since imagine how big the price accumulated for short time period only.

Hippocrypto

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Quote from: Ziskinberg on April 25, 2021, 04:40:08 PM

Looks like we are again going for a dive, look at the price now.

Today, the price is below $50,000 and it's dropping big time, my question, with this movement, will we see a bitcoin price below $40,000?

I've seen that there's a significant downturns previously but that doesn't mean we're going to be discouraged, in fact we should be glad if we're going to see $40k once again. The more fluctuations that tend to exist, the more opportunities to come for all of us who've wanted to buy at cheaper price. For those who bought at high value, keep accumulating your balances while there's still a chance to see lower price coming.

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Quote from: Congyang on April 29, 2021, 01:15:24 AM

can't be used as an excuse if bitcoin drops at $ 40k. currently bitcoin is still holding above $ 50k to be exact $ 53k, I am sure that even though bitcoin drops to $ 40k it is just a correction and not to worry because bitcoin will definitely rise.

Correction or not, I still see that price drop as an opportunity to buy bitcoin at a lower price and get more profit when the prices starts pumping back up. I don't think that bitcoin will ever go down at 40k or below anytime soon with institutional investors still pouring money in the market.

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It's been 4 days after the OP created the thread and what happened, the decline in bitcoin did not reach the 40K and after the downturn occurred now the bitcoin price tends to be above the 50K price.
only a correction occurs or occurs in the weaker hands to sell when the bitcoin price does not continue after hitting an unsustainable ATH.
There is new good news that online gaming provider Nexon has announced that they have purchased 1,717 bitcoins for around $ 100 million which I think is good news that will raise bitcoin prices again in the near future, and I am optimistic that touching 70K will materialize.

Congyang

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Quote from: Ziskinberg on April 25, 2021, 04:40:08 PM

Looks like we are again going for a dive, look at the price now.

Today, the price is below $50,000 and it's dropping big time, my question, with this movement, will we see a bitcoin price below $40,000?

can't be used as an excuse if bitcoin drops at $ 40k. currently bitcoin is still holding above $ 50k to be exact $ 53k, I am sure that even though bitcoin drops to $ 40k it is just a correction and not to worry because bitcoin will definitely rise.

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Quote from: skarais on April 28, 2021, 03:03:51 PM

Quote from: traderethereum on April 28, 2021, 09:08:34 AM

Hopefully, the bitcoin price will not go below $40k, but we do not know about that and we are not sure.
If the price still goes down for more and finally reaches $40k, that will be a big discount to buy bitcoin at a deep price.
But I am sure that the bitcoin price will reach $100k in the future, no matter if that will happen this year or next year because I am not sure that the price can reach $100k this year.
We can prepare the money to buy back bitcoin, so when the price really goes down $40k, we are ready to buy bitcoin.

More and more institutional investor are willing to invest in bitcoin, which means that confidence in bitcoin continues to grow. Nexon also recently announced their huge investment in bitcoin with the amount of $100 million, their move will further strengthen the speculation that bitcoin will soon rise higher than now. While we want the price to go up to $100K, we have to believe that there is a cycle we have to go through along the way. Correction is natural.

It will be only a matter of time before the institution will invest in bitcoin and we see that it is still in progress to go there.
The confidence from the people and the institution become bigger as soon they see much positive news about bitcoin and they will realize that bitcoin come to them as a new way in the investment and financial.
Yes, the correction will be the process for bitcoin to go to the high price and before the price reaches $100k, we can see many corrections that will come at the market, so you need to prepare yourself.
Hopefully, the price will not make a correction and drops to $40k in the future.

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Quote from: Ararbermas on April 28, 2021, 09:57:51 PM

there's a possibility in my opinion but as long as it still have strong support perhaps it will stay on that stage where it suppose to regain strength in order to jump again to the current ATH.. This actually always happen and no need to worry about it,, indeed as you can see still showing pumps in the market so this is nothing. Wherein still a correction..

During this time, corrections always occur and usually after a correction occurs, it will prepare to increase to a higher value. So the corrections that have occurred are no longer a strange thing and continue to be carried out, there is no need for excessive worries to reveal things like this.
In fact, to achieve renewable ATH it could happen again and it has happened often and has happened.

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Quote from: Alisha-k on April 28, 2021, 02:28:38 PM

Technically analyzing Bitcoin can't go below $40,000 execpt a very critical news poops up that would warrant such drastic fall but for now I say a big no to this

And it has to be a really big news to really warrant a dump so big. I don't think that bitcoin will go down that route though as it doesn't adhere to its current pattern of slightly dumping and then pumping up big time.

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Quote from: beerlover on April 28, 2021, 01:59:31 PM

Quote from: LUCKMCFLY on April 28, 2021, 12:40:18 PM

I think that for now the price will not go down by the $ 40k level, as many institutional investors are defending the price, although it can go as high as $ 43k because it has a natural correction of 35% according to Peter Brandt, a new investment from Korea. of the South called Nexon from bought Bitcoin, this probably does not help to reduce the price too much, and even so, the income from mining in Bitcoin is quite generous and nobody wants to stop earning:

Yeah, If bitcoin is not having enough support then it might have gone below $40k levels along with last week's correction itself. But, we are not seeing even $45k levels get broken.

It means bitcoin is technically too strong to hold above $45k to $50k levels and this is the reason we are stright away bouncing back toward $55k level. I believe we are going to break $60 in next two or three days and then holding above $60 will open doors for new ATH around $70k levels.

If bitcoin manages to rally if it is very likely to see those $ 70k levels, some are betting that this will be the best boost for Bitcoin, because Elon Musk clarified that he did not sell any of his BTC, that he only took 10% of all the shares. earnings of its crypto, this has given more importance and security to many investors, it is also necessary to note that NEXON has invested a significant amount in Bitcoin, and this has possibly generated the recovery of the market, new investors are entering with a lot of desire to make history in the Bitcoin market, they are already considering bitcoin as a haven of value and some see it better than gold, and at least Mercado Libre in Argentina will accept payments in Bitcoin for the purchase and sale of real estate, this is very good news which attracts more investors.

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Quote from: Ziskinberg on April 25, 2021, 04:40:08 PM

Looks like we are again going for a dive, look at the price now.

Today, the price is below $50,000 and it's dropping big time, my question, with this movement, will we see a bitcoin price below $40,000?

there's a possibility in my opinion but as long as it still have strong support perhaps it will stay on that stage where it suppose to regain strength in order to jump again to the current ATH.. This actually always happen and no need to worry about it,, indeed as you can see still showing pumps in the market so this is nothing. Wherein still a correction..

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