Will BTC go back to $40K - $30K range before a bigger rally? - page 5.

Sexylizzy2813

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Quote from: QueenSk on March 16, 2024, 12:55:49 PM

Based on the pattern on the chart, it seems like Bitcoin is going to correct itself but to what extent, no one knows.

We can clearly see that BTC hasn't been able to cross its previous highs after each dip recently which indicates that there is a bearish momentum going on.

So can we expect a major correction or it's going to go up again and reach $80K before halving?

Let's discuss.

Regards
SK

It was getting to the point that those hodling will start having a rethink on weather to sell or continue hodling, no matter how low the price of Bitcoin is going I believe we still have those that can still wait till it gets back on track before the halving. $80k isn't the aim before the halving and I still believe that Bitcoin price can surpass the current ATH, with that happening I feel the price can be bigger than $80k and I'm not expecting Bitcoin to fall all the way back to $40k, not anytime soon.

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Quote from: Mpamaegbu on March 24, 2024, 09:22:50 AM

It looks like OP missed the bus and wishes there's a nearby stop for them to get in, figuratively saying. Anyone desiring that Bitcoin could dip to the $30k region will have to wait till after this circle. I don't even see $40k happening now when we're just days from halving. The market may see a dip to $50k before and after halving but certainly not $30k. Now we've institutional participation and I don't see how these institutions are going to panic and sell off like what we saw in the past with individuals participation.

Agree with your point about the market, bitcoin can correct and maybe go below 60k$ but it will definitely be difficult to drop to 40k$ let alone 30k$. The truth is that those who expected this to happen were mostly those who missed the opportunity to buy bitcoin in 2022 and 2023. They are too subjective and quite greedy people as they always want to buy at the lowest price and sell at the highest price. But they paid the price when they missed out on buying bitcoin at cheap prices. If they continue not buying bitcoin at the current price, I bet they will have to buy bitcoin for $70k or more after the halving.

Mpamaegbu

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It looks like OP missed the bus and wishes there's a nearby stop for them to get in, figuratively saying. Anyone desiring that Bitcoin could dip to the $30k region will have to wait till after this circle. I don't even see $40k happening now when we're just days from halving. The market may see a dip to $50k before and after halving but certainly not $30k. Now we've institutional participation and I don't see how these institutions are going to panic and sell off like what we saw in the past with individuals participation.

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Quote from: AnonBitCoiner on March 24, 2024, 02:24:22 AM

Quote from: stadus on March 23, 2024, 03:58:23 PM

If he is expecting that bitcoin price would fall so deeply, I think that’s quite impossible already as $60k might be its deepest price before bitcoin halving will hit the market. Although this remains a speculation but for now, it seems the price of bitcoin would not fall below $60k anymore. Otherwise, people would be in panic selling again most especially those who have bought bitcoin within these past few weeks when bitcoin has crossed the last ATH.

In cryptocurrency market nothin can be impossible because you may have seen that how quickly the price changes from higher to lower and from lower to higher. May be if Conditions remains positive as halving is near so we will not see more dip than 60k$ but it is the reality that price can go down and recover back again easily and quickly.

We should avoid our emotions here because it's normal but it is important to continue your holding without any worries about future because halving will bring unexpected higher worth. I think those does not have any good idea or have no trust on bitcoin who sells their bitcoin now at the price of 64k$ because everyone is confidential with the naked truth that price will enhance after halving.

It's true that anything can happen and we cannot predict the future. But if you look at current market conditions, we are entering a bullish cycle, not preparing for a market winter. So, there's nothing wrong with people saying that a bitcoin drop to $40k is unlikely or will never happen. I support this view, bitcoin will have corrections but a drop below $50k is unlikely to happen again, those who are waiting for a bigger drop to buy will definitely regret it.

AnonBitCoiner

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Quote from: stadus on March 23, 2024, 03:58:23 PM

If he is expecting that bitcoin price would fall so deeply, I think that’s quite impossible already as $60k might be its deepest price before bitcoin halving will hit the market. Although this remains a speculation but for now, it seems the price of bitcoin would not fall below $60k anymore. Otherwise, people would be in panic selling again most especially those who have bought bitcoin within these past few weeks when bitcoin has crossed the last ATH.

In cryptocurrency market nothin can be impossible because you may have seen that how quickly the price changes from higher to lower and from lower to higher. May be if Conditions remains positive as halving is near so we will not see more dip than 60k$ but it is the reality that price can go down and recover back again easily and quickly.

We should avoid our emotions here because it's normal but it is important to continue your holding without any worries about future because halving will bring unexpected higher worth. I think those does not have any good idea or have no trust on bitcoin who sells their bitcoin now at the price of 64k$ because everyone is confidential with the naked truth that price will enhance after halving.

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Quote from: GreatArkansas on March 23, 2024, 01:54:01 AM

What does Big Rally OP want to mean? I do believe we already started the big rally they talking about.

We do have a big rally since BTC is able to record new ATH but I think the bigger rally @OP talking about is the rally where Bitcoin is able to record a new ATH that is twice or more higher than the previous one. It is the rally after the halving and before the Bitcoin market transitioned to Bear market.

Quote from: GreatArkansas on March 23, 2024, 01:54:01 AM

What we experienced was superb, creating new all-time high then now we just dumped from all-time high around -13%, then for me, it's just a normal pullback and just creating significant support on $60,000 level.

True that, it was fascinating to see Bitcoin market to break its ATH this early, and since the price of BTC became overpriced during the rally, it is normal to see a correction to stabilize the market. Even though I felt that the current rally that breaks the ATH is a manipulated event, I am still happy to see that Bitcoin had recorded another new heights making me think that the Bitcoin market performance will be even greater after the halving event.

Quote from: gunhell16 on March 23, 2024, 09:26:35 AM

Even if we say major correction, I think and think that it will not reach 40 000 dollars; that is too deep, and we are still in the current bull. I can understand or even consider that it is
possible if we are in a bear market period, so it's just that we're in bull season, so that's impossible to happen right now.

This is just my opinion, and I'm not saying that I'm sure of what I'm talking about about our talk of breaking or going back to 30k or 40k each of Bitcoin.

It is stated that the market drop of more than 10% but less than 20% is considered a major correction so Bitcoin will not plummet to $40k even if a major correction happens. But if a market crash happens then going down to $40k below will likely to happen. But I think with the current hype around Bitcoin and the piling up of community and traders, not saying more institutional investors is being involved in the market. It is highly unlikely that Bitcoin price will crash to oblivion.

stadus

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Quote from: GreatArkansas on March 23, 2024, 01:54:01 AM

What does Big Rally OP want to mean? I do believe we already started the big rally they talking about.
What we experienced was superb, creating new all-time high then now we just dumped from all-time high around -13%, then for me, it's just a normal pullback and just creating significant support on $60,000 level.

If he is expecting that bitcoin price would fall so deeply, I think that’s quite impossible already as $60k might be its deepest price before bitcoin halving will hit the market. Although this remains a speculation but for now, it seems the price of bitcoin would not fall below $60k anymore. Otherwise, people would be in panic selling again most especially those who have bought bitcoin within these past few weeks when bitcoin has crossed the last ATH.

aoluain

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Quote from: AbuBhakar on March 23, 2024, 09:15:18 AM

Quote from: Nrcewker on March 23, 2024, 09:08:44 AM

Currently anything can happen to be honest. Bitcoins are really going up and down in every hours. The traders are playing an important role in manipulating the price as I can see. They are buying at bulk quantity for which the price going up and similarly selling at large quantities for which the price also coming down. Most probably we will see a correction in the price before halving only. I am assuming Bitcoins will rest at 55k usd for now. Let’s see what happens next.

Some whales are playing on the crypto market because the price on daily time frame shows the obvious breakeven which means that it’s a target trading. However the overview of the Bitcoin chart is already showing a bearish movement that usually incomes with sharp correction if there’s no more whales playing the price.

I’m not expecting that the price will rally even after halving. This kind of strong price rally usually follow by sharp correction then long sideways until it will rally again for a possible new ATH.

Yea anything can happen but it would want to be something massive like and FTX
going down to affect the markets this close to the halving

Its true that directly after the last halving for example Bitcoin took a bit of a drop but
look what happened shortly after that. Someone mentioned to me during the week that
the markets have previously corrected down 30 days before the halving? would be
interested to see some chart snapshots confirming that...

but as I posted previously I cant see an absolute nightmare selloff to collapse to
$30k or $40k

gunhell16

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Even if we say major correction, I think and think that it will not reach 40 000 dollars; that is too deep, and we are still in the current bull. I can understand or even consider that it is
possible if we are in a bear market period, so it's just that we're in bull season, so that's impossible to happen right now.

This is just my opinion, and I'm not saying that I'm sure of what I'm talking about about our talk of breaking or going back to 30k or 40k each of Bitcoin.

AbuBhakar

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Quote from: Nrcewker on March 23, 2024, 09:08:44 AM

Currently anything can happen to be honest. Bitcoins are really going up and down in every hours. The traders are playing an important role in manipulating the price as I can see. They are buying at bulk quantity for which the price going up and similarly selling at large quantities for which the price also coming down. Most probably we will see a correction in the price before halving only. I am assuming Bitcoins will rest at 55k usd for now. Let’s see what happens next.

Some whales are playing on the crypto market because the price on daily time frame shows the obvious breakeven which means that it’s a target trading. However the overview of the Bitcoin chart is already showing a bearish movement that usually incomes with sharp correction if there’s no more whales playing the price.

I’m not expecting that the price will rally even after halving. This kind of strong price rally usually follow by sharp correction then long sideways until it will rally again for a possible new ATH.

Nrcewker

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Currently anything can happen to be honest. Bitcoins are really going up and down in every hours. The traders are playing an important role in manipulating the price as I can see. They are buying at bulk quantity for which the price going up and similarly selling at large quantities for which the price also coming down. Most probably we will see a correction in the price before halving only. I am assuming Bitcoins will rest at 55k usd for now. Let’s see what happens next.

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Quote from: tsaroz on March 23, 2024, 03:36:44 AM

Quote from: QueenSk on March 16, 2024, 12:55:49 PM

Based on the pattern on the chart, it seems like Bitcoin is going to correct itself but to what extent, no one knows.

We can clearly see that BTC hasn't been able to cross its previous highs after each dip recently which indicates that there is a bearish momentum going on.

So can we expect a major correction or it's going to go up again and reach $80K before halving?

Let's discuss.

Regards
SK

There is always a correction and accumulation before another push. The correction could be slight making current resistance above 62K to the the final one as prices have bounced back from that range for multiple of times now and in worst case scenario, it could go as low as 50K but no further. The price going below 50K would start another bear which is highly unlikely as there is high confidence in the market. People are accumulating at a higher price and a bull reaching 85K+ is on the horizon. There are predictions of bitcoin reaching 140K as well.

Yes indeed, we have seen this in the past as well hence it's better not to panic and make use of the dip which we should consider as accumulation period. This just resembles to every other bull run we have always seen such dips before the pump. I personally feel Bitcoin would cross $100k but I don't go with prediction because that was the case then Bitcoin should have breached $100k in 2018 itself but rather it would be wise to consider the targets based on how market trends.

Sorryfor

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By March of this year, the price of Bitcoin had reached a maximum of ATH 72000$. But shortly after that the price of Bitcoin started to dump and currently its price is at 64000$. There is still about a month left of the halving. Earlier in 2021, Bitcoin's price was at an all-time high of $69,000. Three years later, Bitcoin's value has regained its health. I expect the price of Bitcoin to not go up, but not down any time soon. However, many expect the price of Bitcoin to exceed $100,000. What are your ideas?

tsaroz

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Quote from: QueenSk on March 16, 2024, 12:55:49 PM

Based on the pattern on the chart, it seems like Bitcoin is going to correct itself but to what extent, no one knows.

We can clearly see that BTC hasn't been able to cross its previous highs after each dip recently which indicates that there is a bearish momentum going on.

So can we expect a major correction or it's going to go up again and reach $80K before halving?

Let's discuss.

Regards
SK

There is always a correction and accumulation before another push. The correction could be slight making current resistance above 62K to the the final one as prices have bounced back from that range for multiple of times now and in worst case scenario, it could go as low as 50K but no further. The price going below 50K would start another bear which is highly unlikely as there is high confidence in the market. People are accumulating at a higher price and a bull reaching 85K+ is on the horizon. There are predictions of bitcoin reaching 140K as well.

blckhawk

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I do hope that it does go even lower, really want to buy myself a lot of bitcoin, I'm good for a loan in my work so I know that I've got a lot of money at my disposal that I can inject all in to bitcoin in the case that it goes down so low that everyone's panicking to get out. I know that what I'm about to do with the loan is really weird and wrong for many of you but trust me on this one because I know that I can pay it off easily and there's literally no interest to the loan and I've got enough money for my basic stuff that when this happens, I'd probably just be giving up my weekly expenses on eating out and fund for a new shoes, that's about it so I'm confident at doing that and the money that's going to go back to me when I profited from that investment would probably be enough. I think that the more that bitcoin goes lower, that's going to be a guarantee that it will pump much higher, this has happened before to bitcoin so it's not a senseless rambling.

CageMabok

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Quote from: QueenSk on March 21, 2024, 03:02:48 PM

The market is quite unstable at the moment, so just like others, I'm still waiting to see what will happen next.

And since there is no clear direction for us at the moment, doing DCA will probably the best way to go in uncertain situations like this.

The current market conditions are still not too bad even though they are not very stable, but if you look at the benchmark for Bitcoin, you definitely wouldn't say that the market is unstable. Because the price range of $64K to $65K for Bitcoin is something that must still be considered good in terms of stability, even though in previous days it had exceeded $73K. However, if at this time you are still able to do DCA, I think that is still quite good because this method can always be relied on in all conditions in the crypto market.

GreatArkansas

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What does Big Rally OP want to mean? I do believe we already started the big rally they talking about.
What we experienced was superb, creating new all-time high then now we just dumped from all-time high around -13%, then for me, it's just a normal pullback and just creating significant support on $60,000 level.

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Quote from: MFahad on March 21, 2024, 03:49:36 PM

Quote from: UmerIdrees on March 21, 2024, 03:34:09 PM

I think that bitcoin prices won't even reach this level of 40,000$ again, not even in the next bear market.

I don't think so, to be honest. Bear markets can be very brutal by nature, you never know how much the market might crash when the bear market is here and no matter how high the prices might go in during the bull run, it can still go back to those levels once we are done with it. No one must have thought that Bitcoin would go back to $16k last time when it touched $69k but it did.
So even if Bitcoin goes above $100k in the bull run, it will always have the possibility to going back to $40k or even lower than that in the bear market and the lower it goes, the higher opportunities it will bring for us buyers.

Taking into account the current bull run is just starting and we do not know how high the next ATH will be, we have no way to know how low the next bear market could make the price of bitcoin to go.

But how likely it is for the price to go below 40k right now due to a sudden correction? I am not sure, but if I were to guess I would say that it is unlikely we will see those levels again, unless there is a big scare created by a negative event with global implications.

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Quote from: UmerIdrees on March 21, 2024, 03:34:09 PM

I think that bitcoin prices won't even reach this level of 40,000$ again, not even in the next bear market.

I don't think so, to be honest. Bear markets can be very brutal by nature, you never know how much the market might crash when the bear market is here and no matter how high the prices might go in during the bull run, it can still go back to those levels once we are done with it. No one must have thought that Bitcoin would go back to $16k last time when it touched $69k but it did.
So even if Bitcoin goes above $100k in the bull run, it will always have the possibility to going back to $40k or even lower than that in the bear market and the lower it goes, the higher opportunities it will bring for us buyers.

UmerIdrees

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Quote from: JimboToronto on March 17, 2024, 07:15:01 PM

$40k-$30k range?

Sounds like wishful thinking.

What's the matter? Too much fiat currency and not enough Bitcoin? Hope to stock up cheap?

I think we're more likely to see $300k-$400k than $30k-$40k.

I still do not think that Bitcoin price of 40K is a "Wishful" thing as if the price dumps to that level, there will be so much fear that people will still not buy Bitcoin and wait for more lower prices. It's strange that we buy when the market is greedy and we sell when the market is fearful. The successful trader usually will do the opposite that is they will sell when everyone is greedy.

Anyway, we are so near to halving and already made the all time high, that going back to 30K seems impossible. Even I think that bitcoin prices won't even reach this level of 40,000$ again, not even in the next bear market.

Topic: Will BTC go back to $40K - $30K range before a bigger rally? - page 5. (Read 1320 times)