Bitcoin Forum

The entire cryptocurrency market is on a blood bath level most cryptocurrency witness a higher percentage of price drop which have turned so many analysts to speculate the next stop price before the bull run, if you have been flowing up with recent price actions it show Bitcoin losing almost 7% of it price falling back to 38k and have been struggling to maintain that price level up till now.
Will the 30k price benchmark be the next bottom line before the rise?

^  You mean ‘dip’?  30k should hold strong but there are no guarantees.  Let’s hope it holds cos there isn’t really any more strong support from 30k down to 10k if we look at the weeklies.  In the daily chart, it’s kinda iffy too.  It could find some support and bounce from 16k - 17k but dunno...  When it’s that far down, it could just continue going down.

Maybe, maybe not.

But since we're in the Speculation section — my rough guess is that if we do hit $30k, I'm guessing that it's prooobably the bottom, or at least somewhat close to it(27k/28k?). I probably need to check Reddit for suicide hotlines to get a good grasp of market sentiment lol.

Its good indicator, but there can always be more pain.

"So, Tuesday was a bad day for Bitcoin. Within hours, the original cryptocurrency plunged in price from roughly $13,000 USD per 1.0 BTC to just over $10,000—and that’s down from an all-time high of $19,000 in mid-December."
Article is called:
"A Suicide Prevention Hotline Was the Top Post on the Cryptocurrency Subreddit Yesterday"
https://www.vice.com/en/article/wjpkgn/bitcoin-price-dip-suicide-hotline-reddit

It was way above the real bottom of 3300$.

Speaking of market sentiment:
According to fear/greed index we are in extreme fear / fear since 27th of November. There is really not much more to go down. Price is very oversold. Not as much as during may-july 2021 dump but we are close to that.

Despite the fact that we broke major support at 40k we still hold inside this falling wedge:

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

Which is a bullish patter with price target of 69k.

The only thing that I'm afraid of is global market situation and possible big (>30%) correction of the biggest stock index. This will trigger panic sell that wont be stopped even by 30k support.

The 200 weekly is 19k so that should be the true bottom, as even in sustained bear markets for years has not broken it in the past.

28-30k is a fair value for a local bitcoin bottom , last time that is where volume stepped in last time for a trend shift in the market to bullish.
In reality there is no way to know until volume steps in to set a reversal in motion and until then nothing but guessing.

It's not struggling to get back to the price above $40k. Let's just give it time until it can, that normally happens, and apparently, it has caused many to panic again.

Well, you've said it so let's assume that it would be the next support if the dip continues. But if not, then we have to wait to see if the price would recover eventually after it has hit $38k.

I expect weakness to continue right upto April or so.   Might be superstitious to think so but I relate it to the end of the tax year and how people will take profits to maximise their yearly allowance of capital gains and similar legislation in every country.    Of course thats not it alone, just the sheep or lemmings effect however you view it of how crowds negatively follow each other in a trend and that might take months to stop.
  If you didnt sell near a top it does become quite quickly fairly pointless to sell imo, you will regret when it rises but in the moment people only feel negative so they keep pushing that sell button until its worn out.   Ask yourself is selling completely exhausted in this way, probably not is the view I would guess on tbh.

I don't expect the drop to reach $30K any time soon, although it's possible but market recovery can be expected after the current correction. Bitcoin will soon return above $40K once the FUD in Russia is gone, but if this sentiment is followed by a stock market decline then I believe bitcoin will dump its price again.

What I hope now is that $35K won't fall any time soon, it will be good support as long as the FUD doesn't go away. But stay alert and anticipate further declines as bitcoin has also lost more in price than it has now in the past.

All this speculations are becoming alarming and are generating fear. Whether it will hit $30k is possible it may happen and it is also possible it will not happen. But, I want to believe the whales will not let that happen they have got a lot to lose so they will manipulate the market so that it doesn't go below $30k. I guess the current market situation is looking like to take a turn back at any time. So, buying right now and even if any bottom happens then buying again also will not disappoint any long term investor.

It could be lower, who knows.

As the market is in a bear mode, it's on the opposite scenario of the bull market that the price is going up without a ceiling, here, it's dumping and we don't know what price it will floor.

Good luck people and always think positive, buy, and don't worry about the dump.

It definitely was! Like it didn't literally marked exact bottoms, but it's a good indicator that people are definitely scared, and that the masses already sold or at least very close to selling at a loss.

So far Reddit r/cc still has hope. While that doesn't automatically mean that we're going to drop more, it definitely give me a bit of uneasiness.

Looking at the movement and the behavior of Market now ? i think my dream will come true and it is to drop the price of Bitcoin to 20k level once again and i will buy more of this lol.
how i love seeing the price falling down and down before going hyping again.

sorry to those who had been trapped but that is what i see in this trend and this will take long before recovering again.

Bitcoin will fall like 2018 , and will climb back in 3-4 years after.

We've already seen bloodbath and this isn't new in the market but I don't think that we will see like the 2018 scenario. The market is lengthening and with huge institutions and investors coming at play I'm just confident that we may strong region on either the 30k or if not then make that last 2017 ATH be the strongest support. Anyhow, I wouldn't call this a struggle but likely an opportunity since crypto market always comes up strong whenever we see these kind of moves. WAGMI.

Maybe, maybe not. The dip was a good indicator of buy-in for investors though. It's really hard to tell since even a few months earlier, most of the news were about Bitcoin reaching $100k, which was quickly denied a few weeks before the new year started. Now we're at a huge dip from back then, but it doesn't necessarily mean that this would be the bottom. There was also a short squeeze sometime ago so it isn't actually impossible. I'm more of the hope that it wouldn't go there. Though if it did, I'd just buy more.

Ok, many experts here, some stating 10k. I guess most of you sold? Or sell now? You can buy back three times more at 10k :)

Funny though as it can look this is not like something like that has not happened in the past. If you compare when btc got to  $20k and later dropped to $3,500 was unbelievable by that time too. Now if it drops down to $10k it will break some people's heart but what is certain is that the rise will at some point start again. At the fall is the time to buy and I'm sure at $10k, many more buyers will hodl btc.

It is impossible to say because as I've said before the price shouldn't have dropped in first place. Anything below $50k was unreasonable, let alone reaching a crash level drop.
If we look at the percentage of this crash we can see that it is so far a huge 50% drop (from $69k to $34k). Considering that we weren't in any bubble or anything like that and also the fact that price had crashed a couple of times before going back up to $69k there is no logical explanation for this crash we are having right now.

A few days ago we saw Bitcoin price rallying strongly but had dipped back to the 38K range and has now dipped below that level and looks like it may soon touch the 30k mark. The last few hours are still operating with negative price direction and as of now the fate of Bitcoin price is clearly in the hands of U.S. investors.

People who say that we have already reached the peak of pain obviously don't understand how awful a bear market can be. In the short term it might feel awful, but Bitcoin price needs to reach lower than the 35K range to give a chance to buyers to bargain. At this point it looks like most of the trend is down and its only a matter of time before it starts heading lower and the bulls lose.

---

I do not think that will ever happen.

I saw this falling pattern too but as you said on your final note. It might be break since most of the people is already in panic mode due to this heavy sell pressure happening right now. This kind of dump is very scary since the price movement is very fast for a short period of time. This only means that people already losing trust to crypto that's why most of them are already taking profit or loss without having consideration on the price.

This is sucks but a perfect buy opportunity again to our favorite crypto that already overbought for a long period of time.

If we're heading for worse bearmarket like in 2018, then I can say it's better If Bitcoin falls below $30k. Why? So everyone will have their chance to fix their regrets before for not buying at a the cheapest price possible. Now, I guess If Bitcoin falls under the $20k level, that's a good way to make profit for hodling long term as Bitcoin will most likely to be hitting the 6 digit figure in the next bull season.

As of the moment, Btc is at $35k and I'm not gonna be surprised If it falls down to $30k in a day or two.

I can say there will be lots of supporters in the $30k range, but there are no guarantees or promises about it though. $25k to $30k might be the supporting range in my own instinct, but this could be very interesting for those of you who have hoped to buy some BTC at a cheap price.

after Bitcoin price managed to drop past $40k, I'm not sure Bitcoin will get past $30k...

Market dips do happen every year, but I see the $30k bitcoin price is no longer possible. Besides that, I also see that those who focus on campaigning to buy bitcoin on social media will work even harder, the market will definitely recover, and we can all sleep well again :D

In the last cycle it went to 3K from 20K so it dropped almost 700% so based on such calculation imagine this cycle's ATH was $65K if I am not wrong we can expect the prices reaching the 10K even at the worst case scenario it may drop to 4 digit value too. Don't panic this is normal and if you came here just after the last bull market then you will know the value of HODL in the tough times.

For me, there are still chances that bitcoin will definitely fall more and may end up below $30k. Because once we see bitcoin making a consistent fall, it becomes even more unpredictable so its hard to predict its bottom value from the current dip. But let's not be pessimistic because of the current events, bitcoin and altcoins may be experiencing a drastic fall but as long as there is high demand for them, they won't end up zero value. They will still recover from this latest dump and once positive news will fill in the market, i think they will start rising up again and continue to skyrocket.

Even though the market is currently crashing, it will be difficult to predict the underlying value concretely when the market is in a pump and dump momentum but in general it is possible based on connecting facts about market news that is happening. I'm assuming the market won't recover anytime soon but heading in the direction of the $30k lows, I'll be waiting for early February to review the real market direction before converting the USDT pool into coins.

Easy to say but when you are already on such condition on where the market had plummet or crash down like that then you would really still have doubts whether you should buy
or wait a little bit more.It would really be just normal for us to find the possible bottom as much as we could which is really a very common behavior we do have since its an unpredictable
market on the first place and looking for the bottom is always been a challenged but with due experience then you could at least have the idea whether it is worth to enter or not.
This would vary on someones personal risks management factor.

^ Possible it is.
But the fact is predicting is really hard at this moment, nobody knows where the market price is headed it could create a more narrow line down or it will have a fast boost growing up. But I still believe in BTC and I have faith in it that it will surge back in the market. Let's just wait furthermore when it will be a good time to invest while small-scale investors panic selling their coins because they were afraid to get a loss while the wise investors start investing right and full their bags. As I say, this current drop was given a chance to others to invest, and probably at the level of $30k is a bottom dip and the correction will be done this week.

I think it may happen or not, because its really hard to predict with such an unpredictable market.  It may even go down below $30k if bearish season will last longer. So this only means that the opportunity to fill our bags with potential coins will continue, and it won't stop unless the market starts to recover. But definitely, a lot are panicking today and are afraid to see the coins falling into dips, however we cannot do something about this but to wait patiently until the bearish season is over.

This opportunity is very good to those who have extra funds to spare. Because if you are buying now, of course, would be hard to say, you will sell after a week or so because it depends on the market conditions. If in case, btc will go down as much as 30k, then, that's very good opportunity to collect more satoshis. Because in time, its price will be rising again. So to avoid regrets, why not buy some today if you strongly believe that bitcoin will rally again in the near future.

After $40,000 broken, $30,000 now will be the psychological support for me.
If you take a look at how huge the dump was when Bitcoin broke $40,000. The $40,000 is now acting huge psychological resistance.

It's just sad that the dump is too huge, it's not healthy for me, I am expecting some bounce here and test the $40,000.

It depends on other markets.  I think both stocks and housing gonna slug through 2022.  People might be more willing to part with their crypto before some of those assets so I think we really get into the sub 20s before this flattens out.  Could be a long drought all the way up to the next halving, buckle in.

$30K seems very too obvious to be the bottom. Kind of how $50K was too obviously to be the top or $100K so instead it topped at $69K.

Many will want to buy at $28-30K. So Bitcoin will do what it does best and it will either

1) Go to $30K, look like it’s going up, and then dropped down below $30K.

2) Go close to $30K like $31K or $32K and reverse from there.

Same with $20K if $30K doesn’t hold. Trading can’t be too easy.

I wouldn't count too much on what people want or better say wish. It was last month they were wishing to buy at $48k-$50k then changed that wish to $40k-$45k and it was last week they were wishing to buy at $38k-$40k and yet today we are sitting at $35k and they didn't buy at any of those prices!
All it takes is a small signal to see a tsunami of buys from panic buyers, and right now they are all scared and hiding.

I hope that is correct speculation. I suspect that when the bitcoin price drops more than $30k, it could easily drop to the $25k range. Well, I didn't expect that. I'm still very hopeful not to see a $30k price at this point, and hope that the bitcoin price will bounce back at least back into the $40k range.

I don't believe that we will going that low mate because seeing how supportive the price now and how recovering starting to happen?

https://bitcointalk.org/index.php?topic=5382683.0

this thread is much believable than yours, 34k would be the bottom and we will never go another low from that.

that is IF THE PRICE FALL TO 30k then there could be another 20k level , but is this coming? I don't think so lol .

Entire market is experiencing it's downtime, and the market may drop down even further or this could move upwards. Right now new users who entered the market last year will be now experiencing the bad time of the market. As some users predicted the price could turn bullish and then might drop down to the present low price.

Everytime the price drop, people panic to invest. People were speculating much about the market to be bullish, but this hasn't happened. This looks like the price of bitcoin is moving same as that happened once after the previous bull market of 2017-2018. Once after the bullish move, people were with much expectation and the market crashed. Now similar move is happening. For this reason there is more chance of gradual decline in the market for long term.

Just keep the patience guys . market is experiencing another dumping because of many factor but this is temporary because we have seen this more before and we will never doubt the capacity to recover and reached another ATH in the coming years.
so buy now , and sell later.

for me come what may now mate because I know that this is going to happen actually and i am waiting for the chance to enter more and this is the perfect timing.

I have been looking for this opportunity and now that it is here? i will grab this and will never miss like what i did in 2020.

But today I saw the price of bitcoin was still around $35k, so if you want to buy bitcoin, I think just wait until the price goes down $30 so there's a little profit when bitcoin goes up again to $40k or $50k.

It is really difficult to predict what the bottom will be, but if there is a correction from this position, we could very well see below $30k and i wont be surprised if the institutional investors wait for a rise from this position to book another profit again. If the market performs like they usually performs during a bear run like they did during the past correction, i expect the market to go below $25k. 

the price is now at $36400 and it has not even reached $32000 so this is a case to say that the price will not reach $30000, at least we are sure that it will not fall below $28000. in my opinion cause for concern would be if someday bitcoin price falls below $28000, as long as we are above $28000 there is no reason to worry and never believe those analysts who always fail in price prediction


this will no longer happen, we will not see this price anymore

the market is slowly going up again. so i don't think we will hit the 30k level. but let's not be confident that it won't. anything can happen. just prepare on possible scenarios that may happen in the next months to come.
for those who bought at 35k level and are in short-term trading, you are already getting your profit. not big for now but if you can wait a lil bit more, you may get good returns of your money.

if it's true it will go down as you predict, obviously I agree it's better to wait indeed so that it can reach $ 30K. but if it does not reach the desired price, it is clear that the current opportunity has decreased enough to be lost and the opportunity will not be obtained again.

so indeed everything must do the analysis correctly and need predictions that are at least close to. because the opportunity to buy at the best price will be lost because it is too long to wait for it to go deeper.
So all now depends on what we think, are we going to do it right away or wait some more?

I highly doubt it.

I think we will actually go down to below $20k surprisingly, even though some people seem to think that the bear market will not go that low.

The increase in interest rates is going to be a big hit to all risk-on assets in my opinion and I think that it will hit much harder than people expect since inflation is still high.

Have plenty of liquidity for the next 2 years or so on standby ready to be deployed.

Its possible and it can go even lower to $30k. I think the lowest that we will see is $20k if the price continue to drop before the consistent increase. But somehow the market is recovering a bit so we're hopeful that the price wont drop further. On the other side this is a good time to fill our bags to those investors who missed to hold BTC after reaching the ath last year. Who knows the price will start to climb up again in the coming days.

We will see it later as the price can be up and down like this many times. But if we take a look at the moves in these few days, it seems the price can go to $30k but it is still difficult to know where is the bottom and we can only guess and speculate. Hopefully, the price will not go down to the $27k-$29k level because if that really happens, we will go back to the situation before the last ATH is reached.

But this situation also gives us the opportunity to buy low and sell high. As long as you do not feel too greedy to chase more profit, I guess you can make a profit and if you can repeat many times, your profit will become bigger too.

there is a concern that if bitcoin is not able to maintain the $30K price threshold, it is likely that it will continue to decline, although of course I don't expect it to happen because the impact is certainly not very good for the development of bitcoin itself and what is clear is that the development of new projects will clearly experience obstacles that could occur. many projects are put on hold.

Your hope for bitcoin does not reach $ 30K of course also from the many expectations of all those who are involved and currently holding bitcoin, but maybe for those who want to buy there is of course an opportunity and hope otherwise. surely bitcoin will increase, will last and be back above $40K next month. of course we are waiting for that hope.

I don't want to call a bottom for now. There's no telling whether the price bloodbath is through or not. The previous support which was strong enough to hold the line for a while was $40,000. I thought it was the bottom because it was a solid support. But then I was already thinking that such a strong support could not withstand for long after constant battering. And it finally happened. It was shattered. The price was falling freely right after. But that must have somehow drained all the sellers of their Bitcoin.

Yes specially in our market movement now that the price is constantly changing and no stable that market is showing .

but good to see we are having a green market now because for couple of days we have seen a bloody market.

at least market is now on green line again

https://coinmarketcap.com/currencies/bitcoin/

hope this will  continue back to normal again

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

Recent high to recent low and fib levels between them.  So we are past the 2 day average again but I'd feel alot better if we can pass a weekly average and stay above that, it'd be the start of some positive momentum that could be trusted.  38k appears to be the fair mid way point in all this, see if that point can pivot into forming this recent as the bottom.   It'll be a process as quite a bit of volume occurred, that has to plowed back out the way to progress up.

As for me I do believe that we may see below $30k if things remain unchanged that is if positive news that turns things around are not forthcoming as it should be. Although, if the market value of Bitcoin continue to maintain its stand above the current $30k in the next one month then the bearish period is said to be over.

Looking at the flow now? it seems that we have been in a good resistance now, dropping down to  33k  now we have settled at 36k and still stronger .
 but the question if the price will still drop to 30k? well there is a possibilities and may fall down to 20k level.
but if i am to choose? i will still live buying nowadays while the price is still lowering and the pumping will happen very soon .

Could be. $30k, worst $20k. But it makes you think, where is the money if its a bloodbath for both Bitcoin and Altcoins? Is all the missing money sold for stable coins?
If that's the case then someone is manipulating it heavily. We don't know who they are or when their decision to buy back will be but I know they will come back.
When you become a Bitcoin holder for a long time there is not much options anymore. You just wait again and trust the process. Look back at history and expect the same thing will happen.

I've seen many articles on crypto news websites(and mainstream news websites as well) bitching about 1 trillion USD being wiped out of the cryptocurrency markets.
This is so wrong.The fact that the combined cryptocurrency market cap dropped by 1 trillion USD doesn't mean that 1 trillion USD had left the cryptocurrency market and moved somewhere else.
The real amount is way lower.Probably around 50-100 billion USD.The lack of liquidity on the market combined with the fear and insecurity leads to panic selling and severe price drops.
I don't think that anyone is manipulating the crypto markets right now.Currently the fear dominates over the greed of the crypto investors.The stock markets aren't performing better than the crypto market.Is anyone manipulating the stock markets? 

it looks like we are in recovery now?

https://coinmarketcap.com/currencies/bitcoin/

the increase is starting because we have gained 3k for the last 24 hours and still showing strong moving up.

though i don't wanna take this that high yet we can see that bitcoin is keeping its positioning in Upwards even there are many FUD happening recently ..

You're right. Once you're a long term hodler, i guess your only goal is to see your coins reach their new peaks. You don't have any choice but to believe in your coins and trust the process as it will always end up with a good value no matter how long it will take.

However, the market is showing continuous price decline and no one of us can really tell what will be its bottom price. One thing is certain, if the market will be more bearish this year, i guess $30k will not only be bitcoin's lowest price. It may even hit below $20k if this bearish market cannot recover easily.

Just because we reached a higher level today doesn't mean that it will keep going higher, it also doesn't mean that it will keep going lower neither. It just doesn't mean anything at all. Do not try to look at the price right now and try to guess what is going to happen in the future, when we were at around 68k people didn't guess that we would be 50%+ lower, and yet it did happen.

So, what happens right now has nothing to do with the future, it is just the way it is at that point. I am guessing that a recovery and another drop is possible, feel like we will get to like 38k to 40k levels for a while, and then drop to 30k or even slightly less than that. Unfortunately we are in the bear market right now and we just need to realize the current situation.

For me, since we are in a bearish season, then anything is possible for bitcoin to drop its value into $30k or maybe lower than that. Just like when the market is bullish, we are always hoping for its price to reach new ATH, so the scenario still the same, we can only expect for the worst price of bitcoin as long as its bearish. But looking on its positive side, having that said price of $30k, i think that's already a big opportunity for us to invest in bitcoin while its very low. Anyone who's still hesitant to buy at that price will surely regret once the market starts to recover again.

Well, we can only tell that that this bearish season will be over if the price increase continues to create positive signs after couple of days. But more on, i guess what you see is a usual price fluctuation that usually appears at the middle of every bullish or bearish season but it always comes back dropping again after a while. So we can't expect that this bearish season will be totally because the present price decline will even drop more and goes below $30k. So better prepare for the worst, but the best opportunity to enter into the market.

No one could predict on what would be the bottom price would be since this market is totally unpredictable and we have seen that the market had made out already some slight recovery which we could presume that
the lowest price was on 34k as far as i remember or correct me if im wrong.
To those who had risks out on entering that price level are the ones who do make out some profits in short time as the price had risen up a bit but it wont be an assurance that it would be heading back on 40k
once again since it do moves sideways as of this moment.
If there would be other negative sentiments or news in the market would pop out then we might be seeing declining prices once again.

Having manipulation in this crypto market is something that is really inevitable but somehow, it does help too in profitable ways. And with the price decline that is still visible up to the present, reaching $30k for bitcoin will always be possible, and may also not. That is, if we can see price surging in the market due to positive news that will still affect the market. Otherwise, we will witness how the market will continue to fall and possibly, bitcoin will settle down nearly $30k or $25k.

It may or it may not. Who knows because at first place we are in a speculation section and we are all speculating.

Well, this is the strong support that I know just by seeing the charts but there is always a chance that it might go down below $30,000 anytime soon. The blood isn't over yet because many are expecting for more downward movement. We are in a bear market so expect downward pressure.

It doesn't matter if it is the dip or not. The best thing to do right now that the market is down is to accumulate more and more. Opportunities like this doesn't come very often and this kind of opportunity comes after a few years again so take the opportunity because in the next years, we might not see Bitcoin at this price again.

It could happen in the next correction since we do not have the right information about the bottom of the bitcoin price. But if that happens, you can feel happy for a while because you can buy back bitcoin at a low price and hold it until the price is back to increase. When the investor already sold their bitcoin at a high price, they will save the stable coin to buy back at a low price so we should follow what they did to profit from the market. So you do not have to worry about the market and still watch the market.

indeed the bitcoin situation is not very good at this time, what you fear is a natural thing. indeed bitcoin should not fall below the price of $ 30K because it is very worrying, because to increase sharply in time, it will take a long time to reach it.

I think it's clear that everyone is afraid to see the bitcoin situation coupled with news from The Federal Reserve / The Fed that they plan to shrink their currency which then has an impact on rising interest rates.
so everyone also started looking for safety, by temporarily switching to stable coins.
but we believe that there are times when bitcoin will increase and it doesn't always have to be corrected, but when?

The price is repeatedly testing the weekly average now, it does keep declining below that line but the multiple attempts to beat this measure make me think a further attempt upwards will occur.
https://talkimg.com/images/2023/06/12/Ak3Nm.png

If we close below 34.7k on 4hr bar then that would seem to invalidate this proposition.   Dollar index has been rising for most of the last 12 months, this accumulates to some pressure on BTC and if we could reverse that measure to any extent indicating a peak it would greatly help the bullish case for BTC

Price of bitcoin could drop to anywhere and it would not be a problem. The reality is that the drops are temporary and the increases are permanent. Look at where we are right now, even if we managed to drop to under 30k, that is still higher than the ATH we reached during 2017. That was the biggest increase we had since we started, and now we are above that price. Which shows you that even though we have downs time to time, the overall increase is still there.

This is why I am not worried, it could go under 30k, it could go under 20k, as long as I am holding it, I am not selling until I have enough money, maybe one day when I am old then I will sell and retire and leave something for my children, or maybe I will just leave my crypto to my children.

Crypto has been closely doing what the US stock market has been doing for this past week.  And it seems more closely than what we’ve seen.  But yeah I think the BTC sell down which started during November and without any bounces has been exhausted.  Now it’s time for the bulls who were in the side lines to get in.  But then again it could be a dead cat bounce.  I think we’ll see around 45k.  

But one good thing about the whole thing tho is BTC didn’t need to test 30k.

Edit:  It’s really following US stocks more closely this past month.

 We don't know yet if it's the real support since bitcoin still playing around approximately 37k at this current situation. But perhaps it's impossible now to fall down on that value in my personal opinion as the market gradually showing geen day by day, it seems bearish is getting weaker to be honest because as the matter of fact alts is showing a positive sign as well. So probably 30k has no chance to become the next support.

Yes the support is showing us a strong 33-37k stand meaning this maybe the limit or the bottom and depend in the result of the talking from the incoming invasion of Russian Government against Ukraine .
if this progress then expect more dumping from the crypto market and world economy but if peace takes place then we may see a recovery and may reach back to at least 50k .
I know that we are still in process of stablishing the position this month as it is the end of 1st month of 1st quarter , and this is mostly the undecided time for the investors ..

The recent decline in the price of Bitcoin has continued. In fact, the price of Bitcoin has fallen sharply to drop to as low as $33k in the last few days. Therefore, I predict the market will continue to move sideways with a depressing tendency in the next few weeks. However, currently, Bitcoin's strongest support level is at $38k. However, if the level cannot be sustained, it is possible that the price of Bitcoin could fall even deeper and maybe even touch the $30k price level.

33k was a week ago and if we talking a trading prospect then its not to be viewed negatively right now.   We all know how much BTC can move, do not stand in the way even if you have your doubts how far or how strong the rise could go it also might already have put in the lows and its really hard to say otherwise.

It didnt do that, it has to be recognized as trending up.  There's for sure battles ahead of it but also dont ignore the positivity in the pricing that has been clear & present right now for quite a few days consistently.

Its just breaking past or attempting to break the downtrend seems like.    If it fails to do so then yep be cautious how far it can withdraw as bulls are disappointed and close out.   The fact its made multiple attempts and not previously lost much in doing so makes me think something greater will occur.   
  Its been stuck in a range (https://talkimg.com/images/2023/06/12/AkFno.png) for a while is a fair take also.  I'll be more confident of positive momentum when we are negotiating 40k instead weaving back and forth here.   Lows are a weekly moving average price, we stall if we lose that is my general rule.

We are already under 38k, how could that be a strong support? The biggest support is around 30k levels, if we go even slight bit under that level there is a good chance we could skyrocket back up, but between people not wanting to go down, and people who are not willing to sell it to make that happen, we do not see those prices. So, since it can't bounce back from a good price, it just got stuck here and that is how we are going to do for a while longer.

The drop to 30k and a bit under won't happen anytime soon, price looks like it will organically go up instead of based on indicators, it is simple fact that there are more people who are buying right now then selling, not everyday but most days, look at the last week increase for that. So, I am guessing is that we will probably just handle it this way and then end up going slowly and surely for a while.

I have always been waiting for when bitcoin will drop to below $20,000 then I can comfortably afford 1 bitcoin but till then I will keep buying little bits in the corrected price.

This is one of those times when price has already finished dropping but because of the sour recent experience, a lot of people are still afraid to buy back. But at the same time there is no more room left for drops since the buy supports are also there.
So the only thing that can get us out of this state is a "signal", usually it is breaking some resistance but it could be a positive news too. Then we can see the panic buyers once more!

Right now it seems that everyone is waiting for the 30K level and a lot of buying orders are placed at this level. As per my feeling, the market may make a wick to 30,000$ before moving towards the supward direction. In the broader prospective, 30K is also the swing low and this support should hold if we want the bull market to contiune. If we dip befow 30K, then i am afraid that we may be in the short term bear market.

$30K was the lowest point bitcoin hit in mid-2021 and after that the bitcoin price recovered and hit another ATH in the same year. conditions this year are very different from last year's conditions because last year the price of bitcoin was able to recover very quickly and was able to reach ATH twice in one year. so I think before the price recovers bitcoin will reach a lower point than last year, maybe around $25k or $20k.

Yes it looks like a good choice to wait for the next correction and buy it at that moment,
with current conditions it is difficult to make the right decision,
we need to really consider various things and maybe deciding to buy gradually is a good decision

Yes, conditions last year is very different from today. Last year everyone is really happy to see the price reaching a new all time high. So speculators are very positive even at the beginning of the year and making a bold statement that we might hit $100k.

But in current market, we are in a bear market sentiments now, and everything is so sensitive and fragile that in any moment that there is a FUD the price could really be affected and go <$30k.

To be honest, this year is indeed different from 2021, because there are some investors who enter 2022 with a sense of disappointment,
because the target of $100k which was expected to be reached by the end of 2021 finally failed to be achieved. So finally in January the price of
Bitcoin decreased quite deeply, because some investors are starting to get disappointed and decide to sell their Bitcoins. Actually, initially
the Bitcoin support price at $40k was very strong, even I once thought that it was impossible for the Bitcoin price to fall below  the $40k price.
But my prediction was wrong, there was a panic sell after several times the Bitcoin price failed to pass the $50k price. Finally now the price of
Bitcoin is below the price of $ 40k, and it also looks like the price of Bitcoin can still drop below the price of $ 30k. But as long as we keep holding
the Bitcoin we have and continue to collect Bitcoin, I believe we can still make a profit. Because learning from the history of Bitcoin's movement
no matter how deep the price of Bitcoin falls, it can always recover and rise higher. So as long as we can be patient in the current market conditions,
we will get the profit we want.

I also thought that we will be bottoming at 30 but after 33k fall? the price rose up and now stands strong at 37-38k precisely

https://coinmarketcap.com/currencies/bitcoin/

and slowly showing a good upward though of course nothing is certain and this can change at any moment, as long as there is no road to 50k? i will still look at this as bearish market.

I think bitcoin's low point this month will stay at $30k because if we look at the chart that bitcoin shows after falling to that low but then bitcoin price is back up again to the $38k-$40k area in no time, so that makes me believe if the price bitcoin for now will stay at $30k-$40k. Hopefully this year there will be a positive trend for bitcoin so as not to experience further bitcoin price falls.

I also hope like you and all who want bitcoin will be in a price position that can be controlled and able to survive. $30K price is reasonable if bitcoin is able to maintain but if it happened the same as last year, maybe there would be another story but is it possible? anything can happen and remember last year starting mid febuary bitcoin started crawling to increase until a few months later hopefully this will happen this year and we will wait for it.

So far the price has not dropped below $32000 so there is no way for us to know if it can drop below $30000 but I estimate that it will not fall below $28000, this is an extremely strong support that any attempt to fall below this support there will be rejection and the price will go up a lot to the point of reaching 47000$, and that's what we're talking about, a big boost for the price to increase a lot and recover

Currently, bitcoin is still confirming a downward breakdown. Despite a slight increase in price in the last few days, bitcoin still failed to break the resistance in the $39K area. Perhaps the closest potential support for bitcoin is in the $37K and $35K area. Therefore, If bitcoin fails to maintain the $35k area, it is likely that bitcoin will fall back in the $30K area.

It is nearly at 40k as of right now. We had a huge breakout, well not huge of course but huge compared to what we have seen in the last month or two. This is why I called it huge. This is why we have hard time understanding crypto, sometimes we think that it will not do something good and expect the worse and it goes up, then we expect it to go up and it crashes.

All of these are things that we should not be really worried about, it is basically things that we should be comfortable with at this point. I know that we are not going to be able to actually make predictions that stick all the time, so there is one thing that has always proven true; long term holding. This is why I turned into that, buying crypto with a bit of my salary on the first of each month and keep doing that for nearly 2 years now. It has been proven profitable and will probably stay that way as long as I work.

Should be a good break upwards we can see in price action just today, the dollar continues weakly and this helps BTC to make progress vs its continual decline from the ATH.   Now its broken that trend it should not be so regular in that negativity.    No doubt it wont rise without struggle but immediately is looking alot better now imo

https://talkimg.com/images/2023/06/12/AkR69.png

Everytime there's a sudden pump, it kinda brings back the hype, and it's a good thing for the market as it's been a little bearish for a while. However, we have to confirm this first as we don't want to get disappointed again if it turns out to be a bull trap. By the way, is there any big news behind this sudden pump?

I don't think bitcoin is going to drop to as low as $30k again. I see that bitcoin has the potential to move up to test the $45k resistance level in the next few weeks. If you pay attention to the charts in the crypto market, there are indications that bitcoin is strengthening and has the potential to breakout or at least the bitcoin price will touch the $46,000 area.

And just like that, there are no strength to move past $45k, unfortunately, so no $46k as well. As in the last 3 days, the price seems to be moving sideways and in the last 24 hours, it goes on a negative run and touch $41k-$42k. So I guess the bears have taken the market again and maybe, just maybe the reality that $30k is not the bottom at least for this year could be real again.

A reset is normal, whats bigger then that is moves in the dollar index which did rally late last week.   However, much bigger picture on the Dollar value long term is we see decline.  This prediction can be wrong but right now the recent rally in dollar is a small movement compared to the tide going out on it, we cant know for sure that happens but the sell off in BTC is just normal profit taking for now.

if discussing the next bottom line then it will be endless....but i still believe that "the bottom line" of bitcoin has passed and we will not experience a price drop below $30k.  i see the sideway on bitcoin prices will last a long time and Bitcoin ATH for this year is still difficult to predict when it will happen.

The shorter time frames look a bit more negative but this view shows we have broken above and maintained the 50 day (https://talkimg.com/images/2023/06/12/Akw6P.png) moving average.   Going back a year or so this measure of momentum marked the lows for the highest prices and BTC did well when trending above 50 daily average.
https://talkimg.com/images/2023/06/12/Akw6P.png

I think that after the huge bull market we went through and the correction that we saw then it makes sense that we will see bitcoin moving without producing any kind of big trend in either direction, and to be honest that is not bad at all, as it gives us the chance to accumulate more bitcoin during that time at prices that are relatively stable, so personally I would appreciate that something like that happened as a lot of time has passed since we could find those conditions in the market of cryptocurrencies.

It seems like the bottom has been reached already and people who keep denying that probably missed it. I mean if you still want to see bitcoin going down, there are two main reasons for that. You either missed it and want it to go down so you can buy some more before it goes up in which case you would probably still miss it out of fear to buy it when it is low just like you previously did, or you are just a person who hates crypto and everyone who made money from it.

There is really no third option for me, if you WANT it to go down, if you guess it or predict it but not really want it then it is understandable but you predicting it going down to 30k would be like me saying gold will be 100 bucks each again one day.

Nothing will happen for people waiting for another dip since those $30k figure will not possible for now knowing that bear market season is I think end up. Maybe there are certain dump we encounter and possibly this is due to some other reasons which can possibly create economic crisis.

If we keep waiting for something not possible to come then we will miss those good position enter which can give us a profit.

anything can happen and in my opinion the bear market is still not over even though the Bitcoin price is now above 40k. Of course, talking about the lowest point is difficult for us to determine because the movement is very fast, of course entering at prices like today to buy some is the right choice because no one doubts that BTC will recover in the future.
although I don't believe the bear market has passed but I hope there won't be any more prices below 40k and I firmly believe that my expectations will be right.

I got to report back that just as we seemed to be slightly more positive while above the 50 day average, failing that now is not a positive sign for any further gains appearing.   We are challenged and on the daily graph it should be quite clear to see a double top, a quite commonly observed negative sign .
    Dont expect much in Feb but possibly we calm, go sideways and appreciate during March onwards.   For now its wait and see, Im not with any negative for prospects further out especially with dollar inflation unabated but near term we cannot be said to be bullish at this moment.   Perhaps next week will reverse our course but Im not expecting it personally.

I don't think the bitcoin price will drop further to the $30k level although in recent times the bitcoin price has decreased slightly where the bitcoin price has dropped to the $38k level. I see the current downward trend is only temporary because the potential for the market to return to bullish is still possible.

Lol wait if the war in Europe happens , then even 20k will be on our way, remember that this is involving one of the most powerful country in the world(Russia) so the effect will surely cover all businesses and markets and including cryptocurrency .

In my opinion, it looks like the price of bitcoin has the potential to drop to the level of $30k because throughout the third week of February the price of bitcoin has returned to the level of $35k. In the current drop in bitcoin price, liquidations have been lower than expected. The current liquidation volume is much lower above the volume that accompanied the previous gains. This can be a very important indicator for the market to continue to experience price declines.

We have put in a higher low for BTC this week, if this should hold to the closing of the weekly candle then we should be more bullish from it.   Despite the conflict BTC continues to be used and of use to all participants outside of political and nationalistic control.
   I see that we can be quite bullish so to answer OP 30k could be a decent marker for the bottom.  There is still the wider question of if 20k occurs imo, extremes tend to magnetic in some way if only by their fear and volume as turning points.
https://talkimg.com/images/2023/06/12/A38dm.png

Whats important now to mark the lows off in the rear view mirror would be that we we discontinue the recent decline from 45k.    The wider range I've tried to crop this graph to is 43k to 33k, the ideal to say this is over and the low is now established and past is by breaking that range.  Our recent attempt failed and you can see the weekly bars were pins that resolved downwards.   The pin or candle for this week is the opposite direction, it should be noted positively imo.

Currently, the price of Bitcoin is back in the $43k area after experiencing a decline in the $36k price range a few weeks ago. But I see that the market is still going sideways, which is quite volatile up and down. Therefore, I think bitcoin still has the potential to drop in price but it doesn't seem to be going down in the $30k area.

Prices are playing on between these levels which it is really hard to tell on which way it would go but it isnt bad if you have able to accumulate coins on 36k price point and even selling it on the current price isnt a bad

idea but if you do go with shorter trades then it is already that worth to make a move and now the price is getting low again close to 40k then rinse and repeat on the same process for short term kind of profits.

It is risky move since dealing with price on active manner is not for everybody but its considerable for those people who doesnt really like to wait.

The bitcoin market is currently still in a correction trend where the bitcoin price is currently in the $39k price range. But it does not rule out the price of bitcoin will go back down to the level of $ 30k. Moreover, many experts predict that Bitcoin will enter the crypto winter this year. If there is a crypto winter, then the price of bitcoin will drop even deeper and potentially drop below $30k.

No one can say what will be the exact botton. 34-35K could be the bottom before we see the next all time high. If there is a war and other crises, fundamentally bad news can push it to 20-25K also. Nothing is impossible when it comes to bitcoin price. It may reach 100 thousand dollars or it may reach 10,000$. No can can predict the top and bottom of bitcoin.

In as much as we can't predict the top, it is the same with bottom.

There are speculators who said that we will hit $100k last December and it didn't happen. And the same scenario, there are predictions that we will see $20k as the floor fight, but so far we hadn't even touch that.

So it will really base on how the market will react at this point, now that the covid-19 is on the back seat issues for most countries, now we have a new one, the war in Europe that really affecting the market.

Large quantity of buying around $30k isn't the indicator/sign that $30k is the lowest price of this bearish phase. In my opinion, Bitcoin price is very possible to drop more, even it can drop to $20k for sure. We must realize that we are still at the beginning of the bearish phase, Bitcoin price drop to $30k is only the sign of the true bearish season. Since the bearish season can occur from 2022 to 2024, the chance of Bitcoin price to drop lower than $30k should be very possible. I guess the Bitcoin price may drop to $20k in Q3 - Q4 of 2022 or in Q1 - Q2 of 2023.

The market is unpredicted so anything can happen, Bitcoin's price can plunged below 30k. But I think the possibility is low because if it happened, its certain that many investors will take advantage the cheap price. Hence even the price reached that value, it wont last long.

Anyway, we are only in first quarter of the year so there's more to look forward.

Why do you think so? Other than merely making a wild guess, do you have any basis for this prediction? Are we in the beginning of a bearish phase? I don't think so. The price of Bitcoin was bearish ever since it fell down from its ATH. From that point on until now, the market looks bearish. There were moments when I thought the bullish sentiment has resumed but those were very quick moments. The price would still go down after some days.

We don't know yet though, I mean that might just be a coincidence that it has gone up in transactions, also what if they know that they might be able to drive down the prices further just so they can buy bitcoin a bit more cheaper than the last lowest price? We never know what's going to happen next so as always, we should wait and observe.

There is absolutely no prediction that could be made, just the historical data. Whenever we reached 30k, there were tons of buy orders and that is why he thinks that the same will happen. First of all, those are usually just support walls that people are putting, they can be crashed and the price could go under that, so there is no guarantee. However, I agree that it is a bit harder to crash that compared to other prices.

Like there isn't one at 31k, not at 32k, not at 33k and so forth until any price, so the strongest is around 30k levels and that is why people are actually making a good prediction that if that is the strongest then it will bounce from that.

Strong support lines are always harder to crack, not impossible like you said, but harder. Which means there will be plenty of people who will put buy orders at around 30k and then sell orders at 29.5k, that way you would be losing only a little if you are wrong, and if you are right then you would be buying at the bottom and it will go up. That's the type of thing that you could make money if you do it constantly.

Doesn't mean that you need to do it once a day, but you could always see it bottoming out at a strong support level and if you know what you are doing then you will end up with a profit. It will certainly cause a bit of trouble to be constantly online, so you could also use a trading bot to do the same thing.

They are harder to crack only during the periods when it is not really that bad. When the market is not really that big, you end up with support lines or even resistance lines not getting broke that frequently. However, when you end up with something that is a bit more serious, like a big crash, or a big hype, you end up with something that is a bit more understandable and it's easier to crack.

What I mean is, maybe 30k will not get broken down under and the price will not be there, but if it were, it wouldn't be just slow by slow, we won't see 5% per day drops few times a week for months before it goes under that price. We are going to see a huge crash that happens like in a day and go to near 30k levels, like maybe 32 or 33, and then we will see under 30k after a few days. If it ever happens, it will be like that.

of course but at least the price now maintains 30k level , though it may sounds stupid and bad but I am seeking for 20k level because i wanted to purchase more when the price is really that low and may give me more profit for long term holding .

Anyone who missed the opportunity to hold the coins when the price was low would want to market to go down drastically so that they will have the opportunity to invest and then wait for the next rally. When there was a major correction, i expected the market to go down further but magically it was held together and it did not go down to $30k levels for a long time and it is exciting to see how long we will have a strong support at $30k.

I see every day the development of Bitcoin lately a little difficult to step up to $ 40k, January to March 2022, still playing in the position of $ 30k and above, I think Bitcoin this year, will experience more changes and fall again, can..so touched under $30k lower.

Usually after a price explosion there will be a decline and this happens every 4 years, namely 2013 and 2017, and when the market can skyrocket in 2021, the beginning of 2022 looks sluggish, I hope 2022 will not repeat 2014 and 2018 which took time to more than 2 years to recover and skyrocket again.

They will lose then if they didn't hold when the price is low but what you mean to say is if they missed buying when the price was low but it was sometimes their fault because they are expecting for more. Nothing will change if that was still their mindset. Nowadays, I don't think the price will drop too much because of the stronger support that bitcoin is getting from the public ( adoption ).

I did mention the hold word earlier, hodling is best once we successfully bought a coin but again, let's try to be realistic if what price are we going to see before we finally sell what we hodl. Someone says btc will hit 100k but I'm sceptical to that because btc didn't reach that yet.

I am not sure if we are going to have that kind of thing anymore. I am not saying that it is over and we won't ever have it, but we are in a situation where we saw 64k as ATH before in 2021, and then it dropped 60%+ or so, and then we reached to 68k again.

It all happened inside a single year, many people think that we had it in that cycle and it will be 4 years later again, but that drop and increase proves to me that we may not be in a cycle anymore. I believe that we could be 70k in a month as well, or maybe we won't but at least the chance of it is there. This is why I am not really waiting on a great return that many years later, it could happen at any given minute.

If my memory serves me right, we have achieved multiple all time high in a single year. We haven't seen that before that's why others have said that bitcoin narrative is changing already with many whales and then majority is still the retail investors like you and me.

Nevertheless though, we are still not sure if we have seen the lowest low or not, many things can happen in the future. The best thing to do is really be very careful and just buy if the price goes down hard in the lower $30k.

In 2021? We definitely did. We reached to 30k level by the end of 2020, and from there we just kept on going higher and higher, reached 64k which was a new all time high and dropped very hard, like literally under 30k levels at some point.

By the time October came around, we reached 68k again from all the way down, which was awesome to see, and that was breaking another ATH. I do not remember a single year where we had a more than 2x increase, more than 50% drop and then more than x2 increase and another 50% drop, all in a single year. Doesn't mean that it is impossible, it happened so it is possible but it was something I really did not expected at all.

but it seems that since the beginning of 2022, bitcoin has no desire to drop below the $30K price and continues to hold on to a fairly stable price in the $33K+ - $47K+ range, and now the trend will increase again to be able to break the crucial figure at the $50K price. .

but I strongly agree that bitcoin is very interesting because it is always changing quickly and not easy to predict, this is indeed a characteristic of bitcoin. at any time able to increase quickly but will also be easy to drop drastically. but because bitcoin will always create its newest ATH, this is what makes bitcoin always in demand as an investment.

So far so good though, maybe we have seen the worst already at $33k, but I wouldn't be that confident, we still have 9 months to go for the year, many things can popup that can change it.


Bitcoin has always been interesting to many of us. Some see the volatility as a "friend". And as long as you know how to squeeze and utilize it's unstable price, then you are going to stay in the market for so long and play along with it as a investment instrument.

Volatility is the nature of bitcoin, regardless of the number of users and demand, volatility will always stay, that is the result of a fixed supply, so we have to deal with it. Some of us are just investing for long term, but volatility might cause a panic to us if we are not aware of it in the first place, we should not only look at the price increase or bull run because the market has a cycle, and we cannot deny that some of us are entice to invest during the bull run.