Bitcoin Forum

It was just few days ago that we were witnessing bitcoin prices trade between $9500 -$9900 levels, and there was a strong feeling among us that Bitcoin prices would soon cross $10k levels and stabilise there, but sometimes we all tend to forget that bitcoins prices are never stable and today when it slipped towards $9k, people began claiming that it’ll drop to $8k levels.

However those people will be disappointed to know that bitcoin prices are not dropping to $8k levels, in fact they’re already rising on preev and currently bitcoins are trading at $9100 levels.

The moral of this story is not to sell your bitcoins because it’s falling or because people are claiming that it’ll fall, rather one should assess the situation and then hodl on to their coins, as they’ll be rewarded in the long run for holding their bitcoins.

Lastly what are your thoughts on the current price situation, as I feel that bitcoin prices won’t drop below $9k levels, but what do you’ll think is it possible that we shall see bitcoin prices drop below $9k levels?.

Sources:

https://cointelegraph.com/news/bitcoin-price-dips-below-9k-amid-heavy-stock-market-futures-losses

https://www.ccn.com/traders-explain-why-you-should-be-long-term-bullish-bitcoin/

For the recent price changes that have happened, I'm not panicking at all with the recent dump because I think it's a correction that would come back up to $10000 and beyond (hoping for this)

https://i.imgur.com/dAoQNF9.png

Checking the price trend, the recent bounce is definitely what bullish-bias people are hoping for. I'm one of them, hoping that it would come back above $10000. The obvious move for me right now is accumulating more BTC.

I'm getting more bearish now that price is below the 50-day MA. That's been a very reliable trend indicator since late 2019: https://bitcointalk.org/index.php?topic=5196072.msg54622389#msg54622389

Price is also testing the lower daily BB, and the bands are very tight, meaning a breakout is coming soon. If the recent low at $8,900 doesn't hold then we could see some major downside volatility. I get the impression there is a lot of latent sell pressure that will enter if stock markets take a dump this week. Watching the Dow and S&P 500 closely.....

A close below 8900 level is a warning for a price plunge. The 8900 support is a bit strong right now because it bounce back quickly once bitcoin hit it today. I hope that support will hold within this week and the volume build up again in favor of bulls. It is too early right now to predict the direction of BTC since there is no significant volume that can dictate the price movement. I will be happy to see a huge buy volume @9000 level tomorrow or else a pond days happened again.

Anyway, price dropped sharply from last week falls , down to $9,000 but it has pumped back to $9,245 currently. The daily outlook still looks bull, if it ends this way for today, we might see some upwards rally this week.

An investor should not be too concerned about daily price movements, especially when you are in for the long-term. The only time you incur a loss is when you panic sell, the fundamentals of Bitcoin is solid support to ensure the price rises again.

The market volatility is again growing, and the trading volume is still low, so we could see more quick movements over the next couple of days.

Bitcoin just lost around 600$ of there value and then suddenly a lot of people are getting bearish sentiments with BTC? We are still in the 9,200$ level and there are no signs of reversals happening which is neither good or bad since this just shows that Bitcoin is still consolidating, other than that the volume pretty much tells us that there is no "panic" happening in the market as it is really weak showing no signs of support on a potential downtrend. In this times where 200-600$ price movements happen with Bitcoin I won't really jump into any kind of conclusion that Bitcoin is indeed moving upwards or downwards.

if one side is $8k then the other side of the possibilities is $11k not $10k. we are seeing fluctuations between $9k and $10k already so it anything were about to change that can go both ways not just one. also a couple of days ago when the trend was up nobody was speaking of $11k which is funny because it was exactly the trend we are seeing today but in the opposite direction and here we are talking about $8k...

I learned from my experience that it's not good to sell whenever you see bloods. If you do that, it indicates that you're panicking. Create a plan and price you really have no problem in selling and don't sell until it goes there. And you might buy as well while going to that point of selling you have set when you see price going down.

Reviewing the price of bitcoin since March this year, we should be still happy to see if it goes $8k. Whenever bitcoin price plummets, we'll always see people claiming to be bearish and when it goes up, we'll see them vice versa.

If it breaks $8900, I think it will pierce straight to $7k, maybe $7400-7600 area.

Volatile times were never really gone too far, we just had a past 4 months where price moved from $9k to $3.6k at bottom to back to over $10k and it all took many tries as well, it wasn't like direct movements, it was usually going up and down to reach those levels as well and now we are around at $9k once again like we started.

So, we can't really say that volatile times were gone, they were always here, it is here right now too, we just didn't really get what we are going through while it happened and wasn't aware of it. Now that it happened people are realizing what is going on once again. Hopefully volatility continues because when the price moves like this traders are more interested and that means more adoption and more people talking about bitcoin as well.

10,000 is a strong resistance, in fact 10,400 would be a "moon point", we dont need 11k because we have info with only 10.4k

Seeing Bitcoin having a lot of swings in a certain region for about several weeks now, from $9,000 to $10,000. I think that indicates that the price may break loose of the resistance level soon, and If it drops significantly, I don't see any reasons to sell during blood bath. That'll only make you lose some instead of gains. This has been going on for years now, and there are still people who has not learned from this.

Anyway, Bitcoin doesn't seem to be falling below $9,000 level. It had so many attempts from the last few days/week. It went as low as $9,100, but didn't get even lower than that level. Bitcoin is back up again at $9,500.

Volatility has actually never gone, it's always present but more or less visible, depending on how much price is fluctuating.
I agree that is not so.important for long term investors however volatility is something you always need to keep in mind. For daily traders it's totaly different story, their profit depends on volatility.

Its always been like this and this is the hard part if we are witnessing a sideways movement on the market which we cant decide if it would tend to follow up TA's or would definitely break it in an instant.

Market is very unpredictable but basing on the analysis you posted.It do really shows that upward trend.If it wont able to break up those supports then we might see 5 digit price earlier.

For now in talks of volatility then i can say that it isnt really that much in fast few days but in last 2 days i can say that i do made up some money specially on the current price decrease.

There is a possibility that it dumps below $9k but quite not to see a huge drop either and see a price below $8k.
If we look into the current market flows, the trend is still strong that giving us hope for the price to surge high rather than to fall. But of course, all of these things remain uncertain to the reason that we live in a volatile and unpredictable market. But believing how halving could give an impact on the market, I should have to keep optimistic and remain to be bullish.

Once we jump over $10k again, I have to think for Bullrun to start similar thing when 2017 is in the bullish.

The volatility of bitcoin's price and all cryptocurrencies is their nature. There are always pumps and dumps in the cryptocurrencies market. So knowing the price if it would go high or down is really hard. We recently had a slight price fall and bitcoin fell to $9,300. This was an opportunity for a small enter and exit but I decided not to use this occasion because I thought that maybe the next movement after this would be still downward not upward. I think This month bitcoin tends to fluctuate between $9000 and $9900 and this $900 movement is the room to play in the market.

I may understand that some beginners wonder how it is possible for a price to change by $500 or $1000 in either direction in one day, but I am really surprised that some older members of this forum are only now discovering volatility of Bitcoin. The cryptocurrency market is very small if we talk about total value of Bitcoins which is now around $175 billion, with less than $100 billion in altcoins. For those who have fiat + BTC it is extremely easy to manipulate such a market, especially if bots are used on several major crypto exchanges.

Little people are just ordinary observers, whether tomorrow's price will be $8k or $10k is more or less irrelevant. Those who would sell are waiting for ATH, those who would just invest are praying for another big drop, those who want BTC at zero are praying for the second and third wave of the pandemic or the third world war...

This is what I would want, the side market first because of my bot, the market making bot, and it will utilize this trend and would continue to trade and make rebates.

When I posted this it was around $9100~$9200 range and now we are in $9500 which was successfully predicted. Maybe will be up to $10000 in no time. Hopefully.

If you are comparing it to historical movements in BTC, it's definitely not the most volatile but taking advantage of that is our goal for sure.

As I'm telling, it's my experience and I'm just sharing what I have experienced before and probably this isn't just my personal experience because many investors experienced the same. Moving to the present, selling at any price depends now on our needs and satisfaction.

It's not good to be greedy at all because it can lead to further loss. With those predictions that we're hearing as long as it's maintainable and reachable like $8k or $10k - $10500, we have to keep it whichever your plan is.

It seems it is too early to assume about high volatile times right away. I am not seeing wild fluctuations but market seems too bullish rather than anything else. After testing $9600 levels today, it seems it is too stable as of now. I guess there cannot be any chances for the prices to test $8000 levels here after as market may slowly go up and break the resistance levels around $10500 here after as we are seeing support around $8900 to $9100 hold too stronger.

At the same time, unable to hold above $10k levels makes me think about possible ran bound scenario for short term. This could be because of lack of supporting positive news. If there would have been no pandemic and no slow economic conditions on most countries then I guess bitcoin might be trading above $14k right now.

^ Why all you guys worried too much about the small correction that recently happened. I have seen different TAs but all of 'em did not get an exact result after they posted. The market now showing green color and I think that is a good sign that there is resistance after the correction happens. As always, this is what I am thinking when there was a little downtrend. I am now waiting when the $10k hits again in the market.
Nevertheless, the volatile thing was always there, be prepared at all costs, and invest only what you can afford.

People are often guided by the news, sometimes the news has a context of forming a feeling of emotion, whether it is panic or taking advantage to buy, it all depends on how we see the market, big speculators like Jesse Livermore did not see news referring to the market in the 1800s because he said he was involved in the analysis and decisions, sometimes it is better to have your own opinion when faced with any type of news.

Bitcoin might still go down a little before we begin to see another upward again. The market is going to do well around October to December this year and that is why we may see a repeat of what happens in 2017.

Well, hopefully the volatile times would get back because of two reasons. First of all volatile times getting back could mean bitcoin going up and I have my orders at $12k to sell in order to take my profits, if it goes down under $7k once again I will buy as much as possible (more likely at $6.4k I will go all in) so I would very much like the price to hit $12k first and go under $6.5k after that in order to maximize my profit while having a ton of cash but same amount of bitcoin or just no cash but a lot more amount of bitcoin without spending any money.

But, secondly and more importantly the more bitcoin moves the more attention it gets so if bitcoin suddenly goes to $1k and then to $20k and then to $5k and then to $30k, all of that will be news and all of that will cause a ton more new people to join bitcoin revolution.

yeah, but I don't think that a decline will make it stable at $ 8k. so far, the price of bitcoin has recovered to near $ 10k. however, I think that the price of bitcoin will definitely recover to $ 10k. honestly, I am still waiting for the halving effect at this time, and I feel that it is only a matter of time until the price returns to the level of $ 10k.

why not ? recent flow of btc are pretty stable  . it can be stable at any amounts it hit right not but the chance of touching it to 10k is also easily achievable   . about the halving effect   , i cant even feel it too . halving effect havent started  yet  but thats okay as long as btc flow will be this good there is no point of panicking at the moment     .  btc ranging from 8k usd to 10k usd is now a normal scenario that we saw often , dunno why people are still going back to talk about it

It could be, but we are still far from October to December so there's a lot of possibilities. $8k is possible if we are going to see some negative news, fuelling the sentiments of investors to push the price to that level. However, the price seems to be stable above $9k and just trading sideways as most TA guys saw or predicted it. We might see some slow movement, unless a break out run happened. And $9k range should be the new normal price.

To what I've seen, experienced and believe - Bitcoin does it like this always - "The near we expect, the far it goes." It's been following this theory since the last few months since when it has been playing see-saw with some key levels - breaking them up, coming down under again, then repeat. This is why I saw and I expect that while $10k seems nearer to be broken, BTC could rather go for a downshot and kill our expectations first before making a major correction. That's how it liquidated around $150 millions just when we saw a $500 increase in price yesterday.

Theres no such thing about normal scenario because any price level can be potentially a new range on where the market can move sideways for a matter of time
but doesnt mean that we would really stay up on there forever.Potential movements can either be dictated randomly via news or some sort.
Important thing here is that we do prepare ourselves on possible scenarios that would happen ahead.Lots of speculation floating around on which do really
make things even more confusing for some.

It seems like we are heading towards more down with the 24 hours price trend on the crypto market.I feel this is really bad thing to happen now because it might trigger another panic selling attack towards cryptos.

These small drops and even a slight downward trend will not trigger another panic selling attack. We might see one in the near future, if we get another massive crash on the stock market.

So far it manage to hold at $9k level and the price is just bouncing back at the same price as it is in its previous price last week. So there's no need to worry about this it won't trigger a panic selling but if we are going to see a simultaneous drop from the market, then expect a massive panic selling that would eventually make the price go deeper.

The trend keep shifting in the same price region for too long that is why I said even a little more drop from the region could be resulted into a panic selling wave.Fortunately we haven't seen such kind of market movements yet.

Interesting what would the market's sentiment be in the next couple of weeks? But we are already fortunate that it's been long that it sustained the 9k level. 10k level is very much possible maybe before the end of this year. Those who will panic sell will regret as bitcoin's price is deemed to increase in the very near future. But all up to the user as it is their funds at stake here.

Of course, this kind of price fluctuations is a bit normal in this current market situations. And I doubt that we need to panic on every small drops, LOL And as long as we are above $9000, there will be no sudden liquidation. Again to see if there will be some cashing out, five digits should be reach.

It is interesting to see how stock market goes though, because recently it seems that we have a strong correlation with it. We also have to see if this will have a negative effect in the next 24 hours:

https://www.europeworldnews.com/bitcoin-options-worth-930-million-will-expire-next-friday-is-there-time-to-worry/

If the price is down below $9k, then the panic selling will happen because many people don't expect to see the decrease. But if the price can stop from falling below $9k, and it is back to the higher price for a while, then they will not sell their bitcoin, but they will wait for a while so if the price can still increase to the higher price, they will sell it to make a profit.

And now, we see that the price can be back to the $9,200 level, so the chance to see the price still increase will wide open. But still, be careful with any possibility that can happen later because we don't know where bitcoin price will move after this. Hopefully, the price can break $9,300 and stay at that price until the next week, so the next week will be a good time to start a rally to break $9,500.

I did not see volatility now but maybe in the future. Bitcoin has been moving in side way since the halving. I do believe that the uncertainty infect of covid19 has made investors not to have interest on the market.

i am in favor of the current situation when Now traders are profiting in almost daily basis because of volatility things that has gone
for months because of being stable in price.

Now we are seeing that bitcoin price going Up and down in a matter of hours in which favoring many expectant .

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about the price?i am welcome even it fells $8k because i can purchase more again.

or It can Grow $10k so i cans ell out and wait for another fall.

So basically most of us, at least people from the forum, we are ready for the dip and for the rise, whatever happens we have an answer. If it dips we will buy more and if it rise we have some coins for selling. And that's the best approach, to be ready for every turn that bitcoin can made, and it has just two possible directions up or down.
Volatile times never left, I don't remember we ever had stable price. Its a point of view, but the price we have now is the closest to stability, it has some range between 9k and 9.5k, and we are there for some time.

Bitcoin still in volatility because the price is up and down many times every day. So I think the price still unpredictable, and that makes us feel difficult to analyze. But we can still analyze to get the time to buy bitcoin at a low price and sell it at a high price. Although the price have a volatility, we need to make a friend with the volatility, and we don't have to afraid of that because if we are worried, we can not analyze better and find the time to trade.

Understanding the nature of being volatile, you'll be able to catch up and make a proper assessment to when to buy and to when to sell, the deeper you know the higher the benefits that you can sort from this market, there are many investors who are still playing with volatilities and still gaining good amount of profits from this business.

The key of buying low and selling high depends from how you understand the volatile nature of this business.

Bitcoin has never lost its high price volatility. A decentralized cryptocurrency will always have it. If the price of bitcoin for a relatively long time as a whole stands still, this is most likely an exception based on the counteraction of several opposite factors.
However, no matter how the price of Bitcoin changes now - in the direction of decline or growth, good price growth expects it during the year due to a decrease in remuneration to miners in May, and if the global economic crisis comes soon, then much earlier.

All can say that but in reality it is difficult for us to do things like that if you look at volatility then it is easy for people to read because they see prices continue to fluctuate so know that volatility is still high for bitcoin, well here we buy as low now and sell high it needs a strong analysis where sometimes we like to miss the estimate and therefore investors will see the situation because it also sometimes influences.

You have a point. Miners and bitcoin halving definitely affect bitcoin at this rate even the COVID-19 virus affects its market price. The price is sustaining at a market price of 9$-10k$ in the past month still its not a bad movement compared when the market is down to 3k$-4k$ when the COVID-19 occurs I'm guessing it is still recovering because of the effect of bitcoin halving a lot of small miners already stop mining because it is not profitable anymore we could see a lot of hardware or graphics card in the market that is sold that came from mining either way bitcoin is doing a good job and I think it has a chance to go up to 15$ in the coming months or next year.

Volatile times are not back just yet but it has been slow so long that I am 100% sure when the volatile times comes back they are going to come back very very strongly and we are going to have a hard time focusing on getting it back to stable times. We are going to just have fun with the volatile times and we are going to just live a crazy period where bitcoin movements are very high up and down and will net us all a lot of profit or loss but we are going to at least have fun.

You can't expect bitcoin to stay this boring for a long time, it is not something that takes this much time staying boring actually but it has and that has to change eventually. Hopefully we are going to see a period where it will not stay within 100 dollars of its price every single hour and constantly change so we could have fun again.

Also depends on the price range of Bitcoin in a year to date or month to date basis, because it would be absurd If you're waiting to buy in at $2,000 - $3,000 while Bitcoin is aiming to make a bull run sooner and are going sideways in a $9,000 region. Im afraid the chances for you to find that specific figure as an entry point might be little to none.
The volatile nature of Bitcoin is really hard to predict, so whenever you see an opportunity to buy, then do it.

I fully agree with that, I thought OP was joking with the question volatile times are back because it was never lost.
Anyway, maybe we have different interpretation on the market movement, but for more I think the market is still highly volatile, and it does not mean that price needs to move on a daily basis.

They call it an speculative asset, so it only means that when traders speculate it would also result to a big price movement as majority of the volume of bitcoin are dominated by day traders IMO.

Obviously, Bitcoin will always be volatile, no matter what, whether we are in a bullish/bearish trend. But we have seen some relative price being stable like every year, probably a quarter will be a safe bet. But the rest of the months are going to be unstable and there will be wild price swings.


Hashrate has been variance as well, (https://www.blockchain.com/charts/hash-rate), after the halving, it grows tremendously, and then goes on a flat-line coinciding with the current decline in price. We are already in the middle of a looming recession for all we know. But Bitcoin price is unaffected,  IMHO.

Well, there is a chance that bitcoin can drop below $9000 but it is very hard to go below $8000. Whales are there to collect bitcoin whenever it is at a low price. I believe that $8000 is a great resistance at the moment while $9000 is very easy to break. Therefore, try to buy some bitcoin if it breaks the $9000 resistance. I have a strong feeling that bitcoin will soon go back to $20000 by the end of this year

If we can have patient and we understand how to handle the volatility nature of the market, I am sure that we can get the time to trade, and even we can have many chances to make a profit from many coins. The other key will be the patience that we should have to know when we can enter and out from the market, and we can be able to minimize the risk that might happen. It needs practice every day to have patience and ability to understand the pattern of the market, and we need to keep doing to improve our skills.

I get used to use fibonnaci retracement to see how far bitcoin price will down. I decided to check in daily time frame and I get $8800 (38.2%) is highly chance to be reached given its price is decreasing and will broke a weekly sopport. Other than that, based on fundamental factor that spread currently I see a lot of negative information that came as you can see in cointelegraph. So, seem like (in my prediction) bitcoin's price will goes below $9000 in the next few days.

The pull back is real and ever since it went below $9300 it looks like some hodlers having been selling.

But based on the herd mentality I know for certain when we start seeing some green candles once we in the $8*** zone people will buy and once again post a new all time high for July in no time.

Well, there had been news about miners cashing out.  If I am not mistaken someone tweeted that a huge pile of BTC was moved by miners to exchanges to cash out.  This is one of the possible reasons why BTC prices keep on plummeting.  Another one is the shorting of CME in its trade.  It was also predicted that Bitcoin may possibly fall back to sub $8000 if things do not change.  The buy support on some exchanges is getting thinner since it cannot support the sell order.

You can learn more about it here (https://www.youtube.com/watch?v=6BA57ZvUWDM&t=305s).

do you its those financial institutions who shorted that made the price drops every time?

looks like they are the ones suppressing the value every time. the worse part is that they can widely release rumors to make people buy while they go long and then they can also spread fud when they wanna short. if it drops to 8500 tomorrow i'm selling my coins as well.

I think it is a bad decision to sell your BTC.  It is just a temporary drop as stated on the link I given above.  Bitcoin will definitely rally after this drop.  This (https://youtu.be/6BA57ZvUWDM?t=254) is one good news since this event will bring the price of BTC up.  I also believe that the Bitcoin market is still in the bullish trend and this price crash is just temporary.

Anything can happen this is crypto world but i think bitcoin will stable at 9k$ and will grow by the mid of july and will cross 11k$ price milestone but if it will drop to 8k$ then that will be the best time to invest in bitcoin because it will definitely increase in near future.

you mean it will drop first to 8kusd before it increases to 11k usd ? and that drop can happen before july ? oh thats cool  . i just check the date now and i see that we are already ending the month of june  .

time flies fast i didnt knew that we are now close to july , i thought june is only getting started  . time is running low and i still dont have a cash to invest on btc , oh men   . 

This is not volatility, this is still restricted or declining range over medium term type look.    I believe we must break the rough yearly average and then we'll see something new, till then its a repeat of what happened in previous weeks and just a rerun retest.

https://talkimg.com/images/2023/06/12/A4pxv.png

Rough count of the moving averages and 200 day average is still rising and so some positivity, 50 day declines and this yearly one also now reaches a point of decline.    Thats just a heads up that there remains much doubt in the price and I've already decided we are outside a positive trend which puts us into a picture where we need to reset or reestablish the conviction of price action.    Profit taking is perfectly normal and ongoing in almost any market, sometimes it builds into more then that.

Indeed, an analyst on that video link I post stated that the patient holder will be rewarded and that the current drop is just temporary.  I believe that crypto price will go sideways and we will not see a dramatic increase this next week.  I just hope that it won't drop to sub $8k since it can trigger another panic selling.  The further drop may be a good chance to buy more but it will also take longer for BTC to recover and goes back to uptrend market.

Some exchanges already posted a <$9k already, this is just the start of the week and it seems that we didn't start the week on the right side of the bed. Sub $8k is really possible at this point, as there might be newbies we will panic seeing the price going below $9k again. Yes, we could see a sideway patterns with a slow drop, 1%-3% so it looks like we're in a bearish trend.

I sincerely hope there will be no massive panic selling. Anyway, this is the situation we've seen before and I don't expect massive negative response although some exchanges announced price drop. However, I don't think the price will fall under 8000$ and the fluctuations will continue. Volatility was never gone anyway, it just wasn't so visible.

I hope if the price is down to $8k level will not make people panic selling because that can make the price go down for more. But I hope that the price will stay at a price now or if the price is down again, it will not go too far. In these few days, it seems the price is at a sideways but we hope that the situations will change to give time for the price to increase. It seems we need more patient to wait for the price to go back and break the higher price.

Yeah, looking at the price it is still holding off over $9k which is a marvel, the sellers are throwing everything they have against bitcoin to drop the price but we are still holding off very strongly. I am very proud of the buyers and bull callers because they are working and fighting hard against the waves.

Eventually the sellers will give up and the market will change, this amazing sell wave can't continue forever and can't be sustained, which means eventually buyers will become bigger and sellers will dwindle to little amounts. At that point we will see bitcoin rising, maybe not right away, maybe it will be like the current drop but reverse, maybe it will take a month to just reach $10k and it would be many more months before it reaches anywhere close to $12k, but it will happen, as long as we can continue to hold off sellers we will get to that higher levels eventually.

Exactly, the volatility won't decrease until whole bitcoin resource is mined and most of existing coins are settled down in hands of hodlers.
Thats when bitcoin is going to become a real digital gold

The majority of Bitcoin is mined already, the volatility is not so apparent recently as its been in a range.   I dont expect further reduction in block reward to have as much effect as previously, its already reduced most of what it had previously and each further change is far less again.    Most of the economy is about how much people pay in fees and then the usage vs speculation.   The biggest volatile element is outside the protocol because Dollar has alot of changes done to QE programs and fiscal overspending, shifts in reserve holdings alters its liquidity and value across the world its used in and thats inverse to BTC strength most likely.
   We arent back to volatile times till we lose roughly the yearly average, thats the low or regain the higher trend we had since March.    I think its most likely to reset or revisit the 200 day average out of the two choices.  For 2020 we are about neutral after alls said and done.

i agree that effects of block reward halving are reduced but they are still huge if you look at how much bitcoin is being mined per day even with the reduction. it is still 900 bitcoin per day + the fees and when that finds its way to the circulation that is about $8 million per day. that is still a significant enough number to be able to affect the price.
and that is down from 1800 so basically $8 million less is being sold per day.

keep in mind that last time when reward halved the reduction was only $7500 per day (from 50BTC to 12.5BTC * price = ~600).

I think the price will be volatile, and the price will be changed again this time. But I don't know what will happen in the next month because it could be a good time for bitcoin price to lift the price and break $9,200 barrier. We have the experience to get down at $8k level, so if bitcoin can stay at a price now, the chance to increase will be wide open. Next month can give us new hope to see the price to go to the high price, and we can only prepare to buy more at this time or to wait for a while to sell at above $9,200.

I understand that volatility is scaring people but guys you have to understand without volatility there is no proper trading, when there is no proper trading there is no proper traders and when there is less traders that means there is less attention. We need as much attention to bitcoin as we can, we can't afford to actually let it be for a long time, we need it to get as high as possible without really risking any lack of mainstream media coverage and other stuff.

If bitcoin is $9k for 4 months, that is not news worthy, that is not attention worthy and that is not trade worthy, all of which hurts us and price could go down. This is why we need volatility, even if that means bitcoin going to $5k first and slowly going over $10k, that is still fine by me because that means there is still some people trying to do something with it.

I agree that for the past few months the move to bitcoin has always been not far from $ 9K, even if it ever broke through $ 10K it did not last long and returned to a price of around $ 9K as well. the possibility of bitcoin going down is still potential because it is expected that the rise will start to be excited towards the end of the year. but after passing $ 10K and continuing a bit longer then it is certain that bitcoin will start to increase until the end of the year and even peak in 2021. considering the past halving experience is after a year later then new bitcoin reaches its peak.

Bitcoin has a stabilizing movement from $9k to $10k after a huge drop last March. For that long, I'm really confident that it continues to move high rather than to drops back again and looking forward to surpassing $10k at this quarter.

Anyway, we can't neglect such volatility effect and it will certainly affect the trend but couldn't just a reason alone to think about the declining sentiment to come few days from now? Well, that gonna be possible but looking at how the market behaviors it looks like in a few months? We can tell that we have a big chance to see the price rallying high than to decline below $9k.

None so far, but the price just keeps on dropping, and we are seeing $9k to be a big support right now. And it keeps on bouncing but not really getting over $9300, so obviously that is the big resistance that we need to overcome.

It could be that the price is really stabilising as others have been saying, but I do a believed that a break out run will soon happen once we enter September-December.

But there is bubbles in volatility these days, we have seen many fluctuations in the cryptocurrency market and this has actually helped many traders save some stash. According to some traders: "there is gold in bitcoin volatility". For those who are serious minded traders, this should be the most favourable seasons for traders to make some good profits from bitcoin volatility. Imagine bitcoin dropped to $8730k and then moved up again to $9k+. Though the covid-19 impacts has come and gone, the cryptocurrency market still surpass the stock market and others in terms of growths.

When I had posted this post there was lots of uncertainty but luckily bitcoin has managed to stay in the $9k levels, and since half the year has passed away I found some interesting predictions all of which were done by analysts and all turned out to be wrong.

Some famous ones:

1) Thomas Lee claimed that Bitcoin prices will rise by 197% on Feb 5th 2020, and instead of rising bitcoins prices crashed by 40%.

2) Timothy Peterson, claimed that Bitcoin was close to $75000 on June 8th 2020, and we all know where bitcoin prices were in June don’t we.

Hence as the experienced members of this forum often say don’t read much into analysts statements, and instead focus on your own research as these analysts just can’t get it right when it comes to bitcoin.

Source:

https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-outlook-a-recap-of-failed-btc-usd-predictions-in-2020-202007031320

Actually, bitcoin stability from January has actually landed the price to a stable one, compared to other years which we experienced different things from what we have right now. What I see as the Major contributor to this dropped was covid-19, during this time bitcoin has remains down and unpredictable. Bitcoin would gotten the chance to have a bull run if this pandemic wasn't available. Sincerely, the price of Bitcoin will remains bearish till December 2020.

if according to the current experts Bitcoin is likely to go down,
I am also still waiting when the price of Bitcoin to the $ 8000 and will buy it

Agreed, the price of bitcoin was predicted to mark a big growth by now. Due to the pandemic the crypto market has slowed down, but with the stocks and other financial sectors experience a major blow.

With the present market situation the price could've fallen low to $8000 by now, but the price has set to move between $9200-$9500 for a long. Upon this there is more chances for the price to reach $10000 over the months.