Bitcoin Forum

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

https://i.imgur.com/cG7wxfc.png

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?

Even it's a yes, nothing will change and no one will stop that drop that bitcoin is showing to us. I thought that we've recovered already but it keeps showing a drop.

More bitcoins to be bought cheaper by the whales and those investors who have been waiting for this.

For sure lots had been freaking out this certain drop in price which its a bit faster within minutes time frame but if we do see on the price drop then it isnt really that too big where $2000+ price drop

isnt something that for you to get surprised but for those who are expecting that much with some pullback might really be frustrated at the moment.Rather than seeing or hoping for bitcoin

to rise up to $100k, it did go to the opposite path instead but actually i do prefer on seeing this way where drops do happen compared on having sideways movement.

Nobody knows, but one thing is for sure, this will be a good time to buy Bitcoin.
Market seems consolidating to make another run. Could be higher than the last ATH.
With more than 25% Btc price loss from the last ATH, weak hands was already panicking right at the moment Btc flirts to go below $50,000, and the panicking becomes intense right at this very moment.
So, I'll be expecting more price drop, I'm not sure If it goes below $40,000 but chances are always there.

Definitely, I like it too..  ;D

I would love to see a big drop after a bull run, not because I don't want bitcoin to reach a new ATH but I think it's just necessary for a price correction so people will not freak out big time once it reaches $100k and drops $10k due to heavy correction. With this trend, I think you guys are right, $40k below is possible and even $20k, I guess.


I never thought of this, price has stayed at $49k to $50k, and now it was rejected and dump again.

Next stop should be below $40k?

I hope for it to buy more. But just focus on Q4 when we should go parabolic.

We just love to speculate and follow the trend, if the trend has changed to bearish, then eventually people will panic and more dump is expected. This isn't new, we've seen this many times but newbies probably witness it for the first time so they could kinda panic which will only make the correction worst.

Prepare for more dump, it should not hurt our eyes, instead see it as an opportunity to collect while others are panicking.

We make money from their weakness, that's it. Weak hands dump, wise people accumulate, choose which side you like.

And just like that bitcoin goes on a +$3k and then goes to $50k again. And it seems that we are now on a full recovery phase. I think that's it, that the lowest low for his month @$47k.

The price is going to $51k and if the price holds, maybe this week we are going to trade above $50k and be able to sustained it as this correction might be over.

So to answer the question, No, I'm not seeing the price going below $40k.

$40,000 is very possible before the end of the month. Especially if Bitcoin will touch $44,000 which for me, is the key level for strong support.
But I am hoping Bitcoin will not, especially since Bitcoin is now above $50,000 again.
I challenge that bears should try first the $44,000 before that $40,000, no worries at all, stay calm and stay 💎 hands.

nope.

It remains a possibility even if it is obviously highly improbable. That is definitely far from happening.

I think the correction that happened is already deep enough that $40,000 is already a figure out of anybody's mind. The price of Bitcoin has already fallen more than $10,000 in this quick correction. We have already crossed $60,000 a number of time before this correction happened. There is no strong reason right now for the price to fall down even more, touching $40,000.

as much as the fudder wants to price to go down to $40k, it looks like it's yet not doing what they want the market would do. reviving an old fud wouldn't make much effect as of now, there is got to be something else out there besides the tax laws that will bring the price to dip lower. they haven't figured it yet.  ;D  but if it crosses again to $60K after this upward movement, the assumption will be over.

Bitcoin is dying and 1 year from now will 100% be below $40,000. The easiest money you could ever make in the history of the world is to short bitcoin right now.

Thats almost 40% drop from ATH, looks like impossible the last big correction I saw this year happened last January with 30% dropped and eaten really fast by investors waiting to accumulate btc at good price how btc will fall at this price when btc supply are going low everyday this correction maybe some short term effect on what is happening in Turkey banning cryptocurrency and collapse of exchange.

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https://www.financemagnates.com/cryptocurrency/news/bitcoin-supply-reaches-the-lowest-level-in-3-months/
https://www.reuters.com/technology/turkey-bans-use-cryptocurrencies-payments-sends-bitcoin-down-2021-04-16/
https://finance.yahoo.com/news/turkey-cryptocurrency-pain-grows-second-063853458.html

Nah, even if it were to go down to close to $40k, people who were expectant of it going down to buy when it dips would just bring it back up immediately. I suppose the market has given up on trying to go past the ATH, but that doesn't mean that it would go down to low levels. It'll just be a rather straight line market from now on, probably for a few months again before it acts up once more. Now it going down below $40k by then or going up somehow still remains to be seen imo. Probably someone intentionally dumping the market together with the correction, hence why the strong correction as of recent, but a dump like that would only last at most a few days I presume.

Call me crazy but i see 40k as a bottom even in next long bear cycle when we come crashing down from where ever we end up being, might be peaking $360k for all i know; That's where i would cash out my btc anyway.

It is possible, but maybe with a little possibility and then bounce again to above it again. Bitcoin price itself still have strong support and usually news only affect a little to make it dump, and then it will rise again with another good news that come.

I hope not, because baby whales are the worst, they crap up the fastest  ;D

I think $40K will be the line in the sand whether we break ATH again or did we top out at $65K. If you look at the daily chart, $40K looks like important support because its where the prior ATH was and it was close to getting tested a few months back but never did, it rallied away from there front-running many people.

So if we break $40K, by break I mean we close under $40K at like $38-39K on the weekly, then I would say there is a 90% chance $65K was the top and you should look to get out. Going from $65K to $40K will be a ~40% drop which is similar to 2017 where we went from $20K to $11K and then bounced to like $16K and never went higher. I think if this does happen, we might go to $54K or so and that might be the failed high and we go lower.

However its too early too tell, the $47K might of been the local bottom and we might hit ATH by middle of May.

the current price is still pretty close to the $ 40k mark, so the odds are there. however, despite the possibility, I still feel that the price of bitcoin will continue to go up and leave the price of $ 40k. Currently, bitcoin price is back in the $ 52k range. i hope that by the end of this month, bitcoin price can be above $ 55k.

It has finally recovered again, that quick.  ;D

But if the dip continues a while ago, we should really be expecting it to drop up to $40k and even can go as low as the next prices such as $30k and $20k.

Hopefully that this recovery will stay just as it has stayed for those levels that have made its support.

The last time I check the coin market cap bitcoin price was below $50000 well it was $49,700 to be exact. At first it convinced me that bitcoin may now entering the bear market and probably it might goes lower than $45000 but now upon checking the coin market cap bitcoin was already back at $54,000+ so it convinced me too that bitcoin wasn't yet at the bear market. It might be a price correction but to be honest from the ATH of bitcoin this month of April which hits $65000 down to $54000 was a quite a large difference.

That's how volatile the market was, it's hard to predict all we can do is to speculate and hope that our call

might come true, there are many big players around this business some might wants to shake the market

and collect those cheap coins that may sell out, while others are not comfortable and wanted to hype it

up to bring more investors inside.

Well, we cannot deny that it is possible since Bitcoin is somehow unpredictable after all. However, looking up to the current price it now rises up on $53k, though I am not sure this will continue, I guess the market is now slowly recovering after a deep correction. Now I felt bad for those people who have weak hands and sell their holding believing that this bull cycle is now over. Anyway, even if it showing a good bounce-back we shouldn't be overweening because we still don't know what's gonna happen.

Athough we are not sure about the possibly situation towards with bitcoin still we should look at the bright side on the past incident, the current price recovery is a big lesson needed to learn by newbies since they can actually look at it as strong basis that they should not get afraid with the dump since bitcoin will pump up after the storm.

Bitcoin will go below $40,000

More buyers have come and bought bitcoin with cheap price. Observe the chart and you will see that the price breaks the accumulation zone (rectangle shape) where investors tend to collect bitcoin from seller. In this zone, I believe that who ever sold bitcoin at $60000 has already bought a lot back

https://i.imgur.com/efMefKa.png
Hence, the price of bitcoin will return to $60000.

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Correction is getting bigger and bigger after each time. Monthly chart demonstrate 6 green candles consecutively. Soon, there will be a huge sell-off which can be determined as a reversal.

It is just a warning. Bitcoin is still in a good condition for us to buy

currently bitcoin price is still in a fairly positive trend so it is unlikely that the bitcoin price will fall below 40K, now the way forward is quite favorable for Bitcoin in my opinion, because we have seen if the bullish flag starts to form again, so that can help bitcoin to find price momentum again to get back to $ 60K, but of course that will happen if bitcoin can cross the $ 55K wall in the near future.

Haha, it looks like the predictions have come to fruition.  Bitcoin is down $ 47k, and it still has a friction at $ 45 but no, it looks like the addiction took the market abruptly and moved earlier.  With all the information I have heard, the scarcity caused by the delay in mining will cause bitcoin to spill over supply and demand.  It will put pressure on the price of bitcoin and that pressure could help us embrace a new ATH.  But I don't think the market will rush forward, but will move steadily towards the end of the year.

A lower price on one day isnt a reason to sell exactly, its a feature of retail markets especially or consumer end prices where people react too actively and it becomes a phenomena that prices are especially volatile and thats true of BTC I think.    We will go under 40k I will still argue that after todays 10% rise because one day down or one day up doesnt make the trend or overall reasoning.   We have enough reason to test lower prices, establish volume and then form lows.
   The overall guidance you have best might be the strength of dollar which I think will spike sooner or later but in general its not getting stronger relative to BTC, its probably continuing to weaken over years but also I expect erratic disorderly markets.   That last phrase is the magic word for FED to lose their **** and extreme things happen which in the end is best summarised with further plain dollar cash value losses, more QE type action.   Its very unlikely we get 10% interest rates which would be a proper sell off in many assets including BTC I think.   Anyhow what is most important is that development in BTC and crypto overall is progressing positively, base line relies on that and froth is people getting too hype short term when its going to take 2024 or more to advance properly imo.

I hope so that Bitcoin will move steadily until EOY but there's a lot of falling knife in position already by institutional investors that has a inflating of holdings during this pump and dump market. I'm sure they set a threshold price on when to sell there holdings to guarantee profit. 1 institutional investor like microstrategy is enough to dump the market since there move will cause a ripple effect. I hope that they really hold for a long period of time.

The correction has now been completed and recovery will soon be achieved with prices returning to $60k or more.

While the downturn was taking place there were still many continuing to speculate about bitcoin where they said it would be lower by $30k while others waited for the lower price to be ready to buy more because they knew this decline was only corrective and could be recovered, while those who had. buying at $49k is already starting to see a bright spot where bitcoin will cross its previous highs on ATH.

The $70k target will be overstepped soon.

Yeah at some point I think you can see a dip in the 30s.  After almost every major spike and plateau you see a lot of profit taking which causes those pullbacks.  I don't see any change here.  We went from $3k ish last year to 60k this year.  There is a lot of people in the green right now waiting to take some of that back in.

After observing the monthly candles, I feel a little hesitant to say that bitcoin price will again form a new ATH above $64K as there is still a chance that the big sell scenario will last several month from now. This is just my personal assumption, although we can take advantage of price fluctuation but it's best not to buy to save in the long term. Whatever I think now, it's still possible to see the fact differently. Institutional investors' interest in bitcoin will be quite influential.

Price of bitcoin at the time of this post was $53,518 which is still showing a strong resistance against falling. It rose after touching the area of $49,000 but started an upward movement around the weekend. I have seen many speculating for a fall of price but bitcoin looks more bullish which is a sign for more running in bull because the institutional investors who have higher portion of bitcoin are not dumping.

It still seems bullish but not to the point that we see it in the past few months. The sky rocketed too high that the price now falls maybe just fine to give some room for others to buy back or start the btc investment, the question will upto how much seems no where to found below 50k.the resisnce still changes whenever it reaches such point since there are already institutional companies involved in crypto that will not let their investment goes too low.

It's easy for bitcoin to dump below $50k as we have already witnessed it, the trend is back to bullish, so we might see a $60k price soon than the $50k. That's how people react, they usually follow the trend that's why they usually makes mistake, I'm still a bit worried about the recent price dump, and I think this minor recover might still lead to price rejection and might result to the further dump.

$ 40000? yeah soon it will be hit, but for now the bitcoin price will still be bullish until it can be above $ 70k and maybe after that the price can go down, yes we don't know for sure the peak of bitcoin prices later, the indicator of fear and greed in a long time frame indicates that greed dominates , of course, from this indicator many people believe bitcoin can be above $ 100k, and this will be a danger, keep trading according to the plan you have, don't be greedy and don't take the wrong steps.

I don't think so, look at the market today bitcoin has returned to $53k, I think the bulls will come back again in the next few days or weeks, because currently bitcoin is still at its lowest price it hasn't reached its peak, I'm sure this year bitcoin will be able to reach the price of $100k or Even more so, it's not just me who predicts this, lots of analysts also say the same thing, the most important thing now is to take a buy position if bitcoin is corrected because in the future we may never see cheap bitcoin prices again

No time frame was given by the OP so technically the answer is yes, we can see bitcoin below that price range. The truth of the matter is that bitcoin can't stay this high forever without experiencing some setback as these setback could be opportunity in disguise creating room for others that haven't gotten on the train to buy in before we moon to 6 digit price figure.

Irrespective of how long we go, that if the previous all time low is put into consideration we would hardly see bitcoin trading below 20k and many will come to accept it. The new highs can easily be retraced without much effort especially when there's fud spreading around the community.

the support that has $47,000 is very strong, people are showing a lot of interest in buying in that region of $47000, if you want to think of  $40,000 first the price must break  $44000 and then the price must break the strongest support that this is between $41,000 and $42,000, I doubt (I venture to say that it is impossible) that the price drops to $40,000 m we will never see $40,000 in my opinion. the price will stabilize above $47,000 for many long years

I seem to love it when people are proclaiming the death of Bitcoin every step of the way. Bitcoin was proclaimed dead perhaps a hundred times in the past years. Bitcoin was dead right from the beginning and then it also died when it reached $0.50 ang again when it reached $50 and then once more at $120. It was again declared dead at $1,200 and then at $12,000. Death was again proclaimed at $20,000 and at $30,000 and then at $40,000 and then at $65,000. That was a sweet death every time.

Bitcoin died several types already, according to the perma bears, and yet they are still in the market an they have been proving wrong. Now the price is going to $55k, when a week ago people are so dishearten and worried and panic sets in because the price is going down and people thinks it will go down to $40k.

Now we are going to $60k+, but these perma bears or bitcoin haters will go on silent mode again, until the price goes down again and the cycle repeats over and over again.

Yeah, I am having similar speculation as well. Right now bitcoin market is trading very strong and it is going to have new ATH probably within this week as it seems some institutions keep buying right now. When we are heading toward a new ATH, OP is talking about getting back to below $40k, it seems fairly impossible one with respect to current market scenario.

I'm expecting $100k to happen by coming May month hence the final ATH would be more than $350k as per some speculation. Because we are having continuous support from institutions and corporate which is more than enough to pump bitcoin to some unbelievable levels.

Everything is still possible because nothing can guarantee the future of this volatile asset. It's never wrong to hope that bitcoin price will no longer hit the $40K, but we definitely know that these period and cycle are sure to change sooner or later. We need our own analysis and research as that will help us make the most of our portfolio. But remember, because bitcoin is such a volatile asset, we are bound to see things that don't go quite as expected.

I do agree with this 100% and it is totally understandable. We are talking about something that would be super difficult to do. We have moved from around 47k levels to 54k+ levels already, which means we are in an upwards trend right now and people are talking about under 40k prices, that looks like not possible right now. I am not saying that we will never see under 40k but isn't it obvious that we might see another ATH with this increase instead of a drop?

I mean last time we went from 58k to 43k and people all called for a huge drop again during that period, everyone was selling and running away, then big companies came in and bought so much that price reached 64k dollars. Now we are talking about a drop from 64k to 47k which means it is about the same, so the increase could be as much as 70k+ very soon, this is why it looks like we are doing fine instead of dropping.

Just prepare either way. As no one can exactly tell where bitcoin is going, you have to make your plans depending on your own financial status. You can't depend from others because they have their own plans as well. If you believe that btc will go up, accumulate more but if not, you can cash out anytime. The steps are simple but the execution is hard. But based from the recent drop, btc bounces back again and we are now seeing the 55k level again. The support this time is really strong.

Exactly, just imagine bitcoin going to $150k and then fall to let's say $100k, lol, that's a huge decline but a 6 digit price of bitcoin? that is still huge at what angle you look at it. So regardless if bitcoin goes down to $40k, but if you look at where it come price, we can still same that bitcoin is a success, it's just that there are too many 'enemies', who's going to pull it down no matter what.

I think Bitcoin is just testing a new support level but luckily it stopped at $47k then coming back again at $55k, I guess more people are onto fomo rather than believing in their fud news. Sooner or later we'll be seeing that $100k they've been waiting for it's just a matter of time before we gonna see it.

For now just keep holding your Bitcoin and avoid looking at those stressful fud news everywhere because we all know what they wanted they just want you to dump your coins so that they can buy it out to you during dip.

This is the curse that they will have to bear forever. Bitcoin is not going to die so they will not end proclaiming the death of Bitcoin every step of the way until Bitcoin reaches $100,000, $200,000, $300,000, etc.

I know some of these perma bears will probably buy Bitcoin when the price is going too low. Others may just feel happy that the price falls and will be proud of their being bears but the rest might just want the price to fall so that they could enter. What they miss is that the cheap days are now and today. If they miss the train today, they will forever be bitter at not buying.

I love the term "enemies", I assume these are the FUDSters?
They're always out there lurking anyway, looking to make a good entry point and then sell short during the price bounce.

IMO, Bitcoin still in a bullish market as long as It doesn't fall below the level of the 2017 ATH. Even at $30,000 level, Btc still considered as high price.
Btc touching below the $50,000 support level was just a consolidation period.
Let's see what Bitcoin brings us on May.

There's always FUDSTER even in the bullish trend and it's their business to create FUDS so they can create panic and those weak hands sell and they are the hands that are going to buy what these weak hands going to sell.

I will only believe that we are going back to the bear trend if Bitcoin falls to $30k even Bitcoin trading at the $45k level can still be considered bullish.

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.

In my opinion bitcoin will dropped to 45k$ and then again it will start growing and will start maintaining their price on which bitcoin is trading now which us in between 51k$ to 58k$ but this is crypto world so anything can possible may be bitcoin will drop below 40k$ may bitcoin will cross 60k$ again so the chances are 60 40 percent. If bitcoin dropped them will see a major drop.

Expect the unexpected indeed! there are still chances that due to heavy volatility the market can go back and pull down for more. The only thing that we can do right now is to continue speculating, you'll be able to continue earning from this market as long as you understnad the flow.

We can hope for the current run to push for more and lessen the chance of moving down up to that level. But still depends from how the appreciation coming from investors and end users.

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:


https://i.imgur.com/aqYntub.png
Source: https://finbold.com/bitcoin-miners-earn-57-million-in-average-profits-daily/ (https://finbold.com/bitcoin-miners-earn-57-million-in-average-profits-daily/)

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.

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

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.

I was thinking the same but we've been trick again. We are thinking badly as the market shows some declines but looking at the chart, we are likely heading back to $60k before the end of this month, a big opposite from what we speculate.
Seeing the market to dump and getting over with the Bullrun, it seems hard this time. We even heard that there is another big company  (https://bitcointalk.org/index.php?topic=5185763.msg53384338#msg53384338)buying Bitcoin this time and this could positively affect the trend to stay long at $50k.

Yes, I think the same as you. The current price is about $54,000 and looks like too far if we predict to drop below $40,000. But nothing impossible, there is always a chance to drop at that price. However, if there is no bad news or negative issues about Bitcoin or crypto, I think the price of Bitcoin will survive above $45,000. In the last few weeks, the corrections in Bitcoin price didn't move very significantly. CMIIW

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..

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.


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.

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.

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

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

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

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.

$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?

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.

Look at the price now, Bitcoin easy to recover, right?
If you think the price of Bitcoin drop massively, the best option should do is a buyback, if keep dipping so buyback again. Because sooner or later will recover. Bitcoin is the safest and profitable investment ever, so don't miss the dip price

Yea. But we need to get over $60k this month.


Timing is the key here, of course the price can go down anything, but we should complain about it. On the contrary, as you have said, we need to buy because it is at a discount. And for sure there are smart investors who are doing this. However, for newbies, they have to go to this sort of experiences and be tough mentally and not to complain about the price going down.

It's very easy for smart investors to accept any market situation as they always have a plan for that.
When the price dump, they'll accumulate, when the price pump, they'll sell.

They have been following this simple strategy and all they need is just the market to stay volatile so trading will remain profitable for them.
As of now, the market is still highly volatile, bitcoin could dump/pump 10% in any day, and that would result in a big 10% profit from smart traders.

I think BTC will still go below 40k though many might disagree with me on the basis of the current trend.  There are always multiple time lines to trends with the greatest strength existing over the longest time periods, its also true the largest section of Bitcoin trend is represented at far lower prices including below 40k.  Its not that I know we go back down especially, not until we break in some way but Im fairly sure we return to a mean price and no market ever stays at purely the frothy top prices pushing upwards always.

  We will test lower, take the 200 day average as fair game.  Draw a line sideways at that point and we get 38k or so, this is only the prices existing at the year start and is in no way especially harsh in the wider picture so I think its a fair scenario to have listed as possible.

I think still it will go below 40k$ but maybe in the next years we are still at the bull trend and i think it will take a long time for bitcoin to fall below 40k$ base on the bull market status, i see that bitcoin dump a little and then it recover again in again. So i think there's no need to worry about the price in fact it is a great opportunity to buy and hold to gain more profit if ever it will go down below 40k$.

Actually if there is someone that will be very glad if this happen? that was Me lol because i have sold Half of my Bitcoin recently and now waiting for re investing .

Atleast 40k below is much better for me.

easy recovering but  easily dumping also.

That is just a prediction or speculating that saying bitcoin will go below $40k, but we do not have to worry about that because there is no right sign that will know for sure.
I am not expecting the price will go down below $40k in this near because the trend still goes up, although the price makes another correction again.
Hopefully, the price can be like this to make the altcoin get its time to increase and have the altcoin season.
Bitcoin price will always fluctuate and even if we do not know the time for the price to make a correction, we should always prepare so we can use the time to buy more bitcoin.

It has corrected much. I think you didn't notice at tge recent market its still up and over 55 k$ and going forward. However i think there is no chance recently to get a downtrend and fall down on 40k$. Surely it is a great mometum on the market and it will keep untill the year end i think.

Bitcoin is now slowly rising back to 49k$ so we still far away from the downtrend, small correction and it is now ending we are now in a rising status maybe bitcoin will be back to 57k$ next week, my speculation is that bitcoin will rise up to 100k$ this year that is why i will hold until such time that it will reach the limit.

And so cycle repeats again, last time I check the price is on the $49k mark.

So this month is not really good for us, we all thought that the price can't go down below $50k and yet here we are in the middle of the week. In any case though, all crypto are down as well not just BTC so it's a sign that there is something going on behind, so let's take advantage of the situation again, price is cheap and at a discount, so if you are a investor, another great opportunity to enter.

This is not the time to take advantage of this discount as the sea of blood has just begun to come upon us, choosing a discount to buy would probably be risky as the market could continue to break these discounts, creating a huge sell-off. Can't believe our king fell in a fairly short night, resistance has also faded, it is difficult to say when these losses will be corrected but hopefully a few short days will be enough to give bitcoin a new impetus, which is also the general psychology of investors right now.

Sad to see but bitcoin rice now drops 40k level   , Specifically 24h Low / 24h High   
$46,980.02 /$56,908.96

Looking at the movement there is a possibilities that this will level in below 40k in the next days.

i hate to say this but be ready for the Bearish market this following days .. and will return climbing in the next month ot next Quarter.

I think it has something to do with Elon Musk's announcement that he will stop using Bitcoin on his Tesla company, that's a huge drop but I can't imagine that Bitcoin will go on the $40k level again, the market is very speculative just one bad news and the market will have a change of direction in an hour, I'm hoping that there will be good news to get the price back on it's feet.

Those tweets is little disturbance for the current strong movement of bitcoin and if those news made by Elon will slowly fade I'm sure bitcoin will bounce again, the current rate of bitcoin is pretty much decent and if you bough at he price earlier you are a lucky earners at this point. Maybe for now we can see a slow movement but I'm so so positive that in next few days we can feel the bull effect again.

I hate Elon for doing this, he can support a coin like Dogecoin but he should not disregard Bitcoin, Dogecoin is a clone of Bitcoin he should support the mother of all Cryptocurrency, he should retain Bitcoin and just add other coins based on buyer's preference, anyway not many people are buying and going to buy Tesla, it will not harm in a long term.

Many people have changed their mind cause of what Elon did. It is no doubt that he tried to manipulate bitcoin price with his fame. After this event, bitcoin might take a lot of time to recover, or maybe it will take 3-4 years which means another cycle

That is why we should not depend on anyone. I used to admire Elon but now, I do not know what to say. What a shame

There's a better part over that. He bought Bitcoin and told the world about it. Then, he found a new one as if he could withdraw all that Bitcoin easily.  ;D
Just because of the energy consumption Bitcoin takes. How foolish is that?
Does that mean he is really a fool behind all this creation of his. Is he just the face of Tesla?
He didn't even make an effort to research about Bitcoin first before putting money into it. Wow! I can't believe this guy.

He said he didn't dump his Bitcoin. Well, that I will believe. He won't have the guts to sell it just yet or he just can't.

This also applies to your investment strategy, that when have intention to spend our money for investing we have to be free from the dependence of others. You will not be disappointed to other people especially to Elon Musk if you choose bitcoin as your investment place just rely on your strategy. You are angry now just becauss bitcoin price fall right? It means you haven't sold your bitcoin.

It will be different if you have sold your bitcoin at the high price and you have got profit from then I believe you will be happy when you ses bitcoin price is decreasing a lot because you can buy bitcoin at the lower price. With or without Elon Musk bitcoin price will always has a high price, it is just the matter of time.

At the moment the market is below $ 50k, but I do not think it will go below $ 40k, although Elon Musk's tweet affected the price, I think this will be temporary, as Microestrategy has acted by buying 271BTC:



Source: https://cointelegraph.com/news/bitcoin-whale-microstrategy-buys-additional-271-btc (https://cointelegraph.com/news/bitcoin-whale-microstrategy-buys-additional-271-btc)

Hopefully now BTC can take a good bullish turn, it is not that Elon Musk is the biggest Bitcoin whale, I think that now more than ever is where many will take advantage of buying cheaper btc. Weak hands always make things easier for the smart investor, in fact, this may be another of the strategies that Elon Musk may be doing for him to buy cheaper, you never know.

Elon isn't the only person considered as whale in crypto space. He might have been a huge influencer for some crypto investors, but he has no total control over the Bitcoin price as he is really trying harder to manipulate the market.
Look at what happened to Doge after he was trying to pump it. Doge peaked at $0.6 and I bet a lot of people has lost some money after FOMOing lol.

Nevertheless, Bitcoin is once again in a consolidation period and it's good for accumulation. In this current price action $45,000 might be the bottom price, and it'll bounce back to around the $50,000 region again.