Bitcoin Forum

the price of bitcoin and as well as market go down. bitcoin under 40K now. my question is that, how much more may go down or market will recover form now? if require how many time require? what is good for now, buy or sell? my tendency is, if more go down, i will sell now or if not go down start to recover from this price, i will buy now. expert guy help me please by give your valuable prediction.

thanks for your support in advance.

I think the only thing that we can do right now is to watch it go down and see how things will go, it is difficult to predict how deep will the dump go down because bitcoin is known to prove predictions wrong plus this is a different market movement from 2018 so we just hope that when it goes down, it will go back up higher than its ATH.

There's an old adage that what goes up must come down.  As those who swore black and blue that Bitcoin would never sink back below $50,000 are now learning the very hard way.

Always keep in the back of your mind why Bitcoin was created - not as a store of wealth, but rather as a means to make secure payments electronically.

Don't do anything imo, selling now would amount to you just panic selling right now. If you can afford waiting, you can still hodl it imo, though then again, you can sell now and wait for the bottom before buying in again. Up to you. As for the question of how much more, I don't think anyone can really say for certain. It's been a constant decrease now though, and I'd expect a bit more at the very least for the rest of the day.

Sadly I don't think the majority of those who even bought Bitcoin even aim to use it as such. Not that I blame them, the amount you can do with it in most cases are quite abysmal after all, since adoption is still pretty low.

I wonder how many stories of wallets deleted or Bitcoins burned will surface in five, ten or even twenty years time from inexperienced newbies who joined the Bitcoin bandwagon during to Tesla 2021 smoke and mirrors gold rush?

Probably two or three of these stories will be true but I am pretty sure that there thousands or even tens of thousands who will make a claim that they have thrown or bricked their HW because they panicked and they thought that the Elon episode in the history of bitcoin is going to be the end of it. I don't know how low it will go down but I am sure zero is an unlikely number for bitcoin to land with a lot of lost coins.

Bitcoin is down 43% from its ATH a month ago...

I think it is very difficult to predict when the bearish market will stop this time. the potential to return to $ 20k is huge as is the potential to bounce back to $ 60k. keep holding if you have an asset that you bought at a high price and don't sell it.

This is not made by elon episode anymore the market is on trouble and that creates a fear to the people right now since many cannot decide if they will hold or dump since the drop is so heavy, we might gonna see bitcoin reacher at 20k level this heavy drop will still occur this week. Also I wonder how many people right now are been liquadated since its interesting to know how traders adjust to the current situation.

thanks for your suggestion.

I think all we can do is to keep calm and make a good decision, because if we are going to sell we will surely loss, but if we are going to hold we cannot loss the pofit from our holdings, market will soon recover maybe big whales are now in action and they now playing with small investors like us and if we are going to panic and sell our holdings they will surely buy it. Sometimes the wrong decision of the small holders or investors is a profit to a big whales so we need to keep calm we need to used brain instead of emotions.

This is really a hard situation especially if you have savings on this market. Or you are eyeing a short-term cash out of your crypto. But if you are not depending on your crypto investments, there's no need to worry. This is the reason why it is always better to invest what you can afford to lose. But think of those companies or institutions involved in crypto, as they are growing in number, the price may bounce up again. And yes, maybe, these whales are now accumulating more btc as the price is down. But no one can give us precise situation what happens next. Just keep up with the market.

The bitcoin market is one that operates in a consensus of traders actually flow a part. Yeah there might be news, critic statements and more than could create an impression on traders on where the market is to follow, operate but for there to be a reaction, there must first be a consensus and it is individually done. This is why bitcoin is known to prove people wrong.  The fact that though thee sentiments can be created by a single individual or company,  the reactions are collectively expressed on the charts.

If I'm to make an analysis of the market now, I'll say it has reached a pivot point and any moment from now, it wouldnbe aimed at a reversal. The low for a bearish trend was at $40k which was broken but, we could see a speady recovery that tends to follow. So, I guess this trend has had its session and we should expect a reversal soon.

For the moment Bitcoin has paused at $38k enabling people to take stock of their losses and perhaps for others to work out exactly how much they want to invest in crypto be it short, medium or long term.

(Or if they want to get out of the market entirely)

Bitcoin traded between $30K - $32K after a sharp drop in price from $38K - $40K. Even though the market looks very bearish at the moment, I strongly believe that we haven't reached the top of the bull market yet so reversal should be in the works soon. I've been expecting this correction for several weeks now and kept piling up the little USDT I could save up to buy altcoins and BTC at cheap prices should an opportunity present itself. I've bought a small bag and will DCA till the market recovers (which should be any moment from now). The big guys like Michael Saylor are still buying Bitcoin at these prices, so that should tell you about what's coming next.

When it comes to buying decisions then it would really be varying into each person because we do have different level or risk management on where we do consider on making out some entry
on this crashing market.Honestly its really a good time to buy but of course no one can predict if this market would go even way more lower or would make out some recovery
after this big red candle in the market. No man or investor would have that crystal ball to tell that on how deep the price would possibly could go.
If there's one existing then they would just simply make money on their own rather than on sharing up.

The market had to face another market struggle after almost 1 year in a bullish season. But if we compared it to the last bear season, we can see that we are still far from that time considering that the price still at $39,000 (at this moment). Even the market drop at $20,000, was not the worse drops that ever happen.

The market will sometimes turn like this (dumping) and if we keep looking and checking the market price the more it increases to build a panicking emotion. It is to know that the market dump is inevitable but I think that everyone is already aware of this.

The price already dropped around $30K today, but seems to increase again about $37K currently. We actually don't know how far the correction on Bitcoin price. But I really hope the decline is over and the trend of Bitcoin will rise up again. So, the prices of all altcoins can increase gradually as well.

Well, I cannot imagine if the price of Bitcoin drops below $30K, those altcoins prices may come back again to the price in the previous year. Bitcoin has the main role, it determines the trend in the crypto market. The increase or decrease in altcoin values depends on the performance of Bitcoin.

The prices is now is on 30k seems no chance to retain the current position because of being still red for how many days.. Just imagine from 45k to 30k in just days after elon's dump his bitcoin .? Ppl are really panic selling like there's no tomorrow.. For this reason if the market keep crashing we will see bitcoin at the unacceptable level soon or later..

No one really knows the answer to your questions. What I suggest is to do dollar-cost-averaging on this dip if you still have money to buy because if the price goes up but you sold your coins thinking that the market will dump more then you will just lose more amount of that coin when you buy it back at a higher price. If you are not able to buy now then just hodl it, this is not even a bear market and some of us patiently hodled our coins way back 2018-2020. There is no reason to sell at loss.

indeed, to hold is a good choice in a market like today, but not everyone can stand it. like the previous example where bitcoin had touched the $ 3500 mark, at that time many people were frustrated and incurred huge losses. therefore strengthen psychologically for the sake of something that has been planned

It really doesn't matter what the price of Bitcoins is from day to day if you are looking to buy and hold long term, just set yourself a goal of $X dollars per day, week .... month .... then stick to that amount and watch the balance grow.

Watch out to latest tweets and news. Could help to make an estimate based on sentiment but nobody could be dead sure about anything in the market

I can't remember ever having such high volatility in the market before. The price of bitcoin lost 35% and during the day was followed by a pump of the coin by 40%. It is obvious that we see the completion of the correction of BTC, and with it the entire cryptocurrency market.

Maybe we just have a short bearish time, the market correction has been just a while that makes seeing now that Bitcoin is moving back high again. We're now at $41k plus, I really don't know what really happens and the cause of this pump but it was a huge rally that happens in the crypto.

And we are wrong, definitely wrong thinking that we gonna reach back to where it started. Many were waiting for the dip but somehow, it looks we are missing it as the market recovers faster than the decline. The road to $50k? well, it may be...

The cause of the pump is simple; it was too low and people wanted to buy more and that's it. The cause of the dump however was a bit more unknown because people sold for absolutely no good reason at all. The first drop was basically just because people wanted to get out and that's it but then it is unknown what people wanted to do afterwards, like yeah you should but then what? That is why the dump didn't made sense a bit more than the pump. We are higher now obviously all thanks to people who still had fiat and saw that the price went down and decided to go in, that is a good thing that happened for all of us.

I am hoping that the same will happen a few more times because 50k+ is definitely within reach and there is no major wall between us and there which means if we could have a bit more purchasing of bitcoin the price will definitely break over 50k with ease.

to take advantage of the momentum when bitcoin is bearish, like now, is to buy as the lowest support. the lowest price is currently hitting a price of $ 30k and that is a very drastic drop.

if you've bought over $ 40k you have to hold on to don't sell when you lose, it's a stupid choice. Holding on and waiting for the price to recover would be better. Having spare cash will give you the opportunity to buy at the lowest price. Capital management is absolutely necessary for now.

Agreed.

Anyone who FOMO buys when any crypto is at its ATH then panic sells when the price tanks such as this week's one third write off just simply should not be trading in something they don't understand.

Bitcoin should be traded, not bought and held indefinitely.