Bitcoin Forum

Hello there,
I'm not the kind of guy who bothers about its price and any predictions that pop-up, because I haven't let the downtrend affect me. I'm planning to accumulate as much Bitcoin as I can and hold it for a long period. However, an article was trending on my news feed and decided to check it out. According to the article, Bitcoin was supposedly capable of avoiding inflation, although, it seems to have been severely affected by it. The change in risk appetite, the tightening of monetary policies and the withdrawal of liquidity from the markets and, finally, the rapid rise in inflation show that the cryptocurrency market has been severely impacted.

https://i.ibb.co/5WtcdLx/Bitcoin1-2.jpg (https://ibb.co/PZ3CRgz)

George Savakis, with the help of the analyst Dimitris Tsantoy, a member of Elliot Wave trader community, are predicting a correction down to $20.000 - $23.000, while claiming that as long as Bitcoin is below $35.000, it's extremely unlikely to see a market recovery.

Source: https://www.euro2day.gr/investments/crypto/article/2136805/h-tehnikh-analysh-deihnei-nea-ptosh-toy-bitcoin-to.html


Translated to English:
https://www-euro2day-gr.translate.goog/investments/crypto/article/2136805/h-tehnikh-analysh-deihnei-nea-ptosh-toy-bitcoin-to.html?_x_tr_sl=en&_x_tr_tl=el&_x_tr_hl=el&_x_tr_pto=wapp

I guess it just validated what we have been discussing since we enter the bear market, we haven't seen the final capitulation and the price could really go down that deep, reaching as low as the previous all time high of $19k in 2017.

So I'm not surprised with this prediction, it's just a matter of when we are going to hit it. And as a investors what will our reactions, for one we should take advantage of the discounted price and fill our bags.

If that scenario happens, I hope people are not panicking because if they panic, they will sell all of their bitcoin before the price goes down. I really hope that the price can hold at the current price and have the power to bounce up to the high price. But we should be prepared just in case the price is really down. If that price goes down to that level, we will be back to the previous years and I guess we will have more supports that can lift the price to break the next highest price. So be patient and be careful.

My gut says there will be a flash down to $20k to mop up all the shorts and then a steep rise to leave all the weak hands behind. But then again this is Bitcoin.

$20K that is what I predicted as well, but bitcoin touches that price surely people will again talk more nagative about it and media, articles , etc then the history will repeat so who is smart and rich enough will make most out of it while safe hands will struggle to get the maximum reap as always, never fall twice just accumulate when its cheap because we never gonna see these range after couple of years later.

The scenario you're describing is actually something that's been speculated about since the price went downhill and went below $30k - many speculate that the bottom will be just around $20k. I'm not an expert on TA, but this whole situation with inflation, recession, and war is reflected in everything, and Bitcoin (as many wanted) has become part of the system, and whether someone likes it or not shares much of its fate.

However, let us remember that after each halving and ATH, there was a drastic correction, and that the price, without everything I have already mentioned, would probably have undergone a correction. Looking back, the current price is more than phenomenal compared to halving 2016 ($400), or halving 2020 (about $7000) so in the long run, no one can be dissatisfied even if there is an even greater loss of value.

It’s just a standard bear market that we’ve seen numerous times in bitcoin’s relatively short lifetime thus far. We are still in 4 year cycles. $69,4xx was the top & we’re trending towards a bottom now (which we have yet to reach).

$20,000 to $23,000 seems like a reasonable cycle bottom target. We’ll likely see it in the next 9 months before slowly, painfully grinding upwards as we see the next halving in the distance.

Don’t panic, continue to stack & we will moon in 2025.

I don't think we'll see a bounce off the previous high.  The previous high was a bubble and not a serious support level.  If we fall below the recent low around $25K, there is not a doubt in my mind that we slide all the way down to the real resistance level, which from looking at the chart appears to be closer to $10K.  My concern at that point would be that Bitcoin has never fallen below the previous 4-year cycle high since it became known beyond cypherpunks.  So there are probably many who would view a drop below $20K as the end of Bitcoin, which would likely be the catalyst to such a large drop from there. 

So do I see Bitcoin hitting $20,000?  Sure, on it's way to $10K.  I do hope we bounce off $26K and go straight to $200,000 though.  If I made the rules, that's what we'd do.  :)

Does the price follow logical analysis? The price went crazy at the end of 2020 and the beginning of 2021. Even with all the negative news that was happening, the continuation of some institutions to buy bitcoin made the price go up sharply, so things like accepting bitcoin will make the price soar.

I do not expect that we will witness a change in the barrier of ~20k,30k.40k at the present time unless something exceptional happens, so the levels of changing from 23k to 20k do not represent a serious change.

The serious change will be if it falls below the level of 19k, which is the psychological barrier that was not broken in the previous cycles.


and we touch less than 23k  ($22.9k on KuCoin BTC/USDC.)

From what you've all mentioned, $20.000 sounds like a pretty feasible scenario. Honestly, it has been stuck around $30.000 for quite a few weeks. I also believe that eventually, it will suddenly crash down to $20.000 - $23.000, before slowly recovering and regaining ground. Such scenario will definitely cause panic to investors, similarly to 2017's crash.

Hopefully, it'll eventually recover, providing that we're patient enough to wait it out.

The market is constantly moving and we never really know what will happen next although right now there are some people who think that $20K is coming. The price drop is inevitable due to growing panic among traders over the fud effect, but I don't think $20K will happen this year if people ignore fud and avoid panic.

I don't see an obvious scenario to see it go to $20K, but the whales may be able to take a step back to make up for it as a result of the massive sale. Today we have finished 7 months of the previous ATH, the price is down more than 57% and probably won't stop as the correction continues. But when a weak hand starts to lose its grip on bitcoin, then I believe we are headed for another great climb ahead.

Right, as I have said previously, eventually the price is bitcoin will go down and we can't stop the bear market from happening as we are still in the 4 year cycle although there are school of thoughts that are challenging this concept, but it was proven just to be a theory because we didn't break it this year.

As for the price, yeah, it might be scary at first to see the price at $20k-$23k, but this is again, part of the play, go to bottom in that price range and then wait for the eventual bull run next in 2025.

How can you say that people will not panic if they see the bitcoin price crashing to 20,000$ and below? It will be an extreme panic situation and people will sell their holdings. Only the old investors will stay strong during this time as they have been in this situation before. It would be almost impossible for the new investors to stay strong in these bearish times.

Maybe the panic will be more on those newbies or who bought at the top, but for those who have seen the market crash before, then you have to think a better way to make that negative situation into positive. What I'm saying is this could be the perfect buying opportunity again. And then hope that in the next bull run, and as we have been projected, the next run could be in the 6 digits minimum. So think about the future, don't panic when the price falls hard, but instead, accumulate.

A move down to prices in the 20's even the low 20k area wouldnt really be a crash at this point, its just a development of this prior action known.  Its nothing close to positive but neither is it unforeseeable hence I would not describe it as a crash especially.    BTC is under pressure currently, we know alot of speculative points far and diverse across the market are suffering downwards pressure,  I find BTC reaction still moderately positive comparatively.
  The most negative phase will be the test or threat of 2019 pricing which would be too far for some, only the 200 week average is still pushing upwards now so thats where I expect the market to check should we persist in a negative trend.

It’s hard to say. Today and yesterday were pretty bad days for the stock market. Ethereum also had a bad day breaking the yearly low. Bitcoin however seems to be doing pretty good relative to both.

Seems that there is some large bidder who is constantly buying Bitcoin. Look at the BTCUSDLONGS on Bitfinex. The whales are all buying.

It’s possible we might see those figures however a lot depends on how the fed plays into fighting inflation which is spiraling out of control.

there are several threads already that has this discussion , that 35k is the barrier in our days now and make it harder for bitcoin to recover , but as we see it clearly for weeks now we are staying at 28-31k and nothing is dumping and climbing , this stable value makes me thing that we already Hit the bottom and only waiting for the final blow to break that 35k again and climb up to 50k at least before December ends?

Regardless of what happens, the supply generation of Bitcoin is still inflation-resistant by generating ever-smaller mining rewards every 4 years. Sometimes that's the period it takes to break out of the price rut its in - after the next 210,000 blocks are mined since 2020 halving.


Oh, like last year. That should teach some people a lesson of not going long-term short on BTC.

Even Bitcoin is still raging around $30K, but the sentiments are keep extremely fear for a month. [1] If Bitcoin will dropped to $20K-$23K it will create a short term panic just like the previous bottom how Bitcoin was hit $3K due to panic. At the same time, those people who bought it are the most lucky and smart person since Bitcoin never hit $3K again. There's no altcoins or new currency can compete Bitcoin until now, there's no way Bitcoin will dead and obviously it will recovered and stay again on $50K.

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[1] https://alternative.me/crypto/fear-and-greed-index/

This is what I've been waiting for , there are several altcoins that i Sold recently and reserve for this to come , cannot be dumped even below 20k? like 15k at least? so i can make my funds x3-x5? lol this is something only Holders understand and waited.

And also if this going to happen ? I'm sure we will all succeed because most of us had already taken their funds out and now waiting for the dump to come.

If the price will fall this hard , then maybe I will consider buying some good alts as well.

I would say that it is quite unlikely for us to drop there, even with a huge fiscal responsibility movement from all around the world. Don't get me wrong, it is not impossible, but it is not going to be that easy neither. We are going to be probably at these prices for a while, even after all the FED and stuff, it is going to stay here, and then we are going to end up with going up eventually.

This much is clear for me, maybe some people can argue against that, maybe they will try to do something else, but for me, the best thing about the current situation is that we are not going to drop that much, not to 20k, because that would mean a lot of people going out, and I am not seeing that right now.

How can you be so sure to say bitcoin will not die and be replaced by another coin in the future if something really bad happens to bitcoin? Even I believe satoshi himself cannot guarantee bitcoin will never fail in the future because he knows that currency failures have happened before.

We can only think of something realistic without ignoring the potential for good and bad in the future. It is a highly volatile currency, so there is risk involved although there is the potential for profit to trade and invest in it. $20K or $23K is something that is possible for bitcoin as we have fallen more than 85% in the past, but of course we might expect something different to happen this time around with bitcoin where the drop won't be much lower than $20K .

This can happen in the rarest scenario.
I highly doubt that Bitcoins will fall below 25k usd.
I mean from the past 4-5 weeks , Bitcoin is struggling in 29k usd phase, if it want to go till 20K usd, then it won’t stick to 29k usd for so many days.
Moreover regarding the increase in price, then I must say it won’t happen any sooner.
Now we are in a bear market, and as the trend says we need to wait more 6 weeks to see any movement.
Hope everything happens in favour of everyone.
I am also waiting for Bitcoins to rise.

People who have been familiar with bitcoin for a long time tend to be patient and try to use the moments of panic experienced by others to buy bitcoins that they sell at low prices. Old investors will also use the moment for their own benefit but new investors will experience panic, especially those not used to dealing with the falling price of bitcoin. So if you have experienced a downtrend, you will not panic and I think you will try to buy bitcoin at a low price.

I’m not one to follow things like that, but when the price ranges from $29k to $32k for weeks, it seems logical that some whales make a fair profit by keeping the price in that range. Changes in the price of 5-10% do not seem significant for small investors, but for someone who has hundreds or thousands of BTC and is skilled in trading, such periods certainly bring good profits.


We know that the FED has already raised interest rates, and will continue to do so in the coming months, but if I'm not mistaken, the European Central Bank will soon do the same after 10+ years, indicating that it will do the same as the FED on several occasions. This increase will particularly affect some countries within the EU that are already in big trouble at the moment. How much this will affect the price of BTC remains to be seen.

It is possible that the bitcoin price scenario will drop to the $20k-$23k area which is likely to occur in the next few weeks, especially until now bitcoin has not been able to lift its price back, where currently the bitcoin price is traded in the $28k-29k area.

And what is your fundamental explanation why Bitcoin drops down to that level in a few weeks? Coz what I'm seeing is the continued buying and selling that causes Bitcoin price to stay within the 28k-$30k region. Though there is always a possibility as nobody can predict accurately, but looking at the price actions and market sentiments currently, I don't think it would fall below that level as soon as the coming weeks.
 

The market currently crashing, with Bitcoin recording a 3.90% decline at $28.500 and Ethereum surpassing a 10% decline and trending at $1.550 as we speak. Judging by the price charts, it's easy to say that a further drop is certain and the $25.000 target starts sounding more realistic and probably for the next few days.
Ethereum is currently facing a massive crash in the past 24 hours, trending at price levels of 2021. Certainly, quite a few whales could be buying to take advantage of the lower prices.

Well, it's been so long since the bear market started so there's a possibility that it might fall for that price soon although, no one knows when it would happen but I am certain that it will go at that level soon. What we could just do is to follow most of the prediction and expect it will happen since we can't control the outcome no matter what we do.

And looking at how the price slowly dropping that it almost hit $27k is really a proof that it's most likely going to drop at that price. It just needs a single FUD and you can expect that a dump will certainly go straight to that price.

I like the TA and this the actual graph I'm looking at as basis of my crypto holdings. The timing of inflation news to US very crucial to the Bitcoin unstable condition. This bad news will worsen the situation and might fuel the bears to get the control once again. I'm expecting to see 22500$ until next week if we close the weekly cande red once again. We might experience the long crypto winter if the global economy didn't get better.  :-\

This kind of mentality will bite you in the backside. This is called weak hands.

The current sideways movement means there is a balance in market driving forces.
When you go from a bear market into a prolonged sideways movement that indicates the tide is changing.
It is also called the is the "accumulation" phase. Whales are playing the Market shaking out weak hands.
And when the tide has changed we will be in a bull market...

After being here for way too long I know that FUD is a great bullish indicator and FOMO is a bearish signal.

It can happen or it cannot. After all, we are all predicting, and we don't know what will happen in the future :).

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When Bitcoin is above $40,000, many are saying that it will be the psychological support. Now when Bitcoin went below it, many are saying again that Bitcoin's next psychological support is $30,000. Now it is happening again and analysts are saying that the next support where Bitcoin might fall down is $20,000. It looks like there is a trend here :D.

Well, I will not be surprised if this happens because after all, we are already in a downward trend since the start of the year and there is a chance that we might move either downward or sideways until the end of the year. I don't expect something good that will cause the market to pump will happen at least this year, though I will not be surprised if Bitcoin went on to another continuous upward movement.

This possibility occurs because other scenarios also say Bitcoin will continue to fall even though it will rise first, there have been some big sentiments so far about the decline in the price of bitcoin including now it's back down again because there is news about Ethereum dropping by a dozen percent and it's being widely discussed, of course. this will at least have a slight effect on the value of bitcoin, and I will remain relaxed even though the price will face the next $20,000.

Op really like your tone concerning the regulations of cryptocurrencies. Bothering much or been inquisitive of cryptocurrency acceleration is like someone who import goods and praying for it to reach its country. On my own i don't need to have tension on bitcoin because i know quite well that it will resurrect. It's obvious that people who is desperate for it especially investors are curious to ensure about Bitcoin price increases in order to make profit.

Peter Schiff, an American stockbroker also tweeted about Bitcoin's possible crash at $20.000 and Ethereum's down to $1.000. I'm not sure if we should take such opinions into account, but some of them are certainly experienced analysts. Moreover, he's advising not to make any purchases during the dip, is he possibly implying a further drop? Who knows.

https://i.ibb.co/qWwCKFN/285639353-555276836204536-4402692170000514749-n.jpg (https://ibb.co/mX70kF9)

Im not really that a fan on listening out others calls or analysis because each one of us could really be having their own speculations and predictions but the difference is that these people are knowledgeable on

investment or market movements but doesnt mean that they would really be that precise on where the prices could possibly go and whenever i do see some words came out from their mouths and telling that

we shouldn't buy something on this bear market then i do really saw the opposite thing of such decision. Who knows if we would be dropping low in 20k? IF ever that happens
then my funds is already to buy into those good points.

well the price is in a dangerous zone, what if it drops to $20,000? it will not stop at $20,000, it will continue to fall much lower, that of thinking: "$20,000 to $23,000 is the bottom" I doubt it will reach $20,000 and not fall below that, on the contrary panic selling it will be higher in the 20,000$ zone because everyone will fear seeing $30,100 so they will start selling a lot if the price drops to $20,000 because the trauma of 2018 is still in people's heads, if the price manages to stay above 32000$ then we will be fine because it will accumulate in this zone of 32000$ and then it will go up a lot, but we cannot fall below 28000$

Schiff makes calls on macro economic factors vs fiscal budgets and so on.   I know him from the 2008 crisis and he called that beforehand but he isnt a tech guy and doesnt especially have a great insight into crypto.    Same way I'd describe the constant downvote from Buffet, why would I care about his opinion when he is so happy to back government debt while they undermine the common workers wages with non stop money printing year in and out; he doesnt care about wages he has assets & all players have bias even the 'greats'

Moreover, many analysts are also against Bitcoin for a variety of reasons, thus, we shouldn't always take such analysis for granted, but in this scenario both analyst's predictions are correct so far, since we're slowly moving towards the $25.000 mark (Currently at ~27.500) and Ethereum currently trending at $1.450.

Looking at the market now? it seems that we are on the direction in which you mentioned?

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

the price of bitcoin now close to 26k and still lowering , is this the sign of the new lowest value for this year 2022?

or is there any chance that it will not fall below 25k?

Some use Schiff's tweets as a counter-indicator because in 2018, when bitcoin was falling below 4k he said that bitcoin was just starting its fall at that point. His words sound about the same now as they did then. I also think there are too many analysts talking about a strong fall that it is so obvious. There is a chance that it won't happen and those analysts who were talking about the fall will be talking about ATH again, classic.

maybe they are against bitcoin at the moment to spike up, because obviously the market is dumping now and indeed we are in the bearish market .
and obvious that we are on the verge of dumping more from what we can see on this part .
20k? i am waiting for this now because my mid year bonus has been released and I am wanting to fund all this for Bitcoin so hope you will see this lowering like what market is showing now.

I don't expect a steep rise coming soon, because there's nothing that could pump the Bitcoin price fast in the current situation.
Like OP said, the risk appetite has gone away from the markets and it won't be coming back soon (at least not in 2022).
I expect the crypto winter to continue in the 20-30K USD price range and a new bull run coming after the war in Ukraine ends(or before the 2024 Bitcoin halving).
Anyway, this seems like a reasonable analysis, but the liquidity withdrawal from the markets is going to be temporary (1-2 years maximum).
I wouldn't call the price drop to 20-23K "crashing". A price crash is something that happens unexpectedly. This price drop is expected by many traders and analysts. It's just a continuation of the current bear market.

He is also known as one of the gold bugs whose speculations turned out to be completely wrong, because if I'm not mistaken somewhere in 2015 he talked about the price of gold as much as $5000, and although today we are not even close to those values he is already talking about the price of gold as much as $20 000 (https://capital.com/schiff-sees-gold-at---20000-in-a-dollar-crash) in the event of a collapse of the US dollar.

When you look at some of his statements about Bitcoin from the past, it is more than obvious that his goal is to devalue Bitcoin in relation to gold - because he is primarily an investor in gold and it does not suit him that Bitcoin ever reaches the standard of digital gold.

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It is not difficult to give pessimistic speculations when we are in a bear market, and most of these experts spoke quite differently when the price of Bitcoin was close to $70k.

The current lowest point of the day is standing at $27.266, which isn't far from $25.000, a barrier that I also anticipated weeks ago.
Currently, it seems to have settled at $27.500, without showing major movement. My best bet is that the upcoming weeks will show a further loss of value. I'm hoping that the $25.000 barrier won't be broken, and sustain its price above that.

Just think of all the possibilities right now.

It's possible to fall to $25k, to $20k and even to $17k or $15k. You name it, it is bitcoin and it's nature of being volatile can drop into those prices that we're not expecting it to be low.

We've seen how $20k of 2017 became $3k on 2019.

We don't know how low it's going to be this time after hitting $69k as its last ATH. But whatever it will be, fill your bags and don't forget to buy when it's cheap.

$20k here we go, I'm not surprised if Bitcoin will reach at that level again, I mean a bear market is also unpredictable like bitcoin when it's bullish, so we have to accept if it will reach $20k or even fall because it will always recover like it did many times.

Some people may panic, but some will take this as an opportunity.

Welcome to the bear market, the tough times for those who don't trust bitcoin.

We've lost 28K. Current market condition quite uncertainty, and anything could happen. Bitcoin market moving around 27-30k, and perfect opportunity for arbitrage trader. Bitcoin falls roar $28,000 and down practically 6% to $27,270 as of now. I see lot of technical analytics are taking about if we lose 25K we're heading to under 20k. Here, I'm holding up fro affirmation.

I have to say even 27k was a shock to me because it looked like we were getting a lot more accumulation, and that means that the more people start to collect up, the less there will be available in the market. Whatever is the liquidity in the market, is the decisive factor in the price movement.

When there are plenty available, that means we are seeing a ton of people willing to sell for a certain amount, but when it is not a lot, when it is a lot less, that means people are willing to hold and right now we are there. Doesn't mean it can't drop, like we have seen now it did, because some people may cash out, big amounts, but I believe it is still not an usual move.

Everyone who look for an opportunity to invest in BTCitcoin would always want to see the price to fall to those levels and there is nothing to be surprised as we have seen that multiple times in the past and still some are surprised that the correction means that the market will not rally again ;D.

New investors who are yet to book their profit might stay away from the market for a long time and that is the best solution right now and then enter once the market recovers again after the next halving. Patience is everything in a market.

Some say that it's a great opportunity to accumulate more Bitcoin, however, due to the economic recession we're going through now, small investors are incapable of resorting to large investment. I'm also a strong supporter of Bitcoin and actually believe that eventually, it'll recover, but I barely make ends meet with my salary, thus, I'd rather not take such a risk.

Bitcoin is currently trending at almost $28.000, showing small signs of recovery since the afternoon and Ethereum at $1.500.

As of the current price, is way below $28k, trading at at price of $27,350 and still going down. But this is the start of the week for Asian market, so maybe we will see some recovery here in there. For all investors, may it is DCA method that can really help them accumulate overtime. And as long as you look at your goal long term, no doubt that you can accomplished it very slowly. We just have to understand the game and how are we going to stretch our financial capability so that we can still invest right now.

Selling pressures again, and yes, we are getting closer to $25k, but I guess we can't stop it from happening. Not sure if the opening of the Asian market can salvage what is going on right now. I'm thinking that this is another red candle for us, perhaps at the end of the week, around $25k-$26k.

Of course, another perfect time to buy, but it's going to be a long hold for us. And in the next half of the year, there could be another golden opportunity when we reach like a capitulation price of $20ki'ish.

I'm also not really bothered by a price decrease, not at all because this is going to mean a bigger pay for me in terms of Bitcoin. But it is fun and sad at the same time. It also affects me somehow that a bear market prediction comes true. I am generally bullish on Bitcoin.

This particular prediction is fast becoming a reality. The price is indeed approaching towards $23,000. Things happened quite fast. Just 3 days ago, the price was still holding on to $30,000. Now the price is barely holding on to $25,000.

Personally, I thought Bitcoin was able to overcome the deflation in the global economy as a result of inflation, but unfortunately this did not happen. It seems that Bitcoin was severely affected by the deflation, but I hope that this effect is only temporary, for a long time Bitcoin managed to stay outside the twenty thousand area and maintained a good resistance, but Now it entered this area, and this is a negative indicator that indicates the possibility of continuing the decline, and we may witness 24/26K soon, especially with the negative weekly closing.

Yeah we lost it for some hours but take a look at the price again, we are now back at 28k. This is the chance that @kotajikikox is looking for. I am sure that we won't hit 25k but the price will just play on 27,28 and 29k. Not just the arbitrage trader but a normal trader can also earn on the fluctuations that we are seeing now.

Technical analysis may seem not enough but I would believe it more if they also teamed it up with fundamental analysis. It is still up to btc if what directions it will venture but whatever it may be, we don't have a choice but to go with flow. If price falls more then buy or continue hodling but if it pumps then sell and take out some profits.

This is the positive that we are looking mate? we are now at 25k as i speak , so basically in any moment Bitcoin price will drop below 25k and yeah even How high i wanted this ? yet the market will still drop .

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

Yeah I guess it will , there is a close to that weight , and I hate this to be having potential any increase now.
Indeed , I'm filling my bags now as I have steady budget for dumping market like this.

Well that was pretty quick. Bitcoin already broke the yearly low. At first with the stock market dumping and Bitcoin holding steady and later with the ETH dumping due to the stETH mess, it seemed like BTC would hold however…

When Celcius stopped withdraws and sent like over $100M worth of BTC to exchanges… people knew it was game over. Feel bad for those holders who wanted to make extra % by staking their BTC only to lose it all.

Remember Not your keys  not your coins.

Don't you mean inflation?
In any case the problem with bitcoin is currently market manipulation. The market (that is the order books on exchanges) has always been small enough for manipulation to be effective specially if it is in the same direction as the market sentiment is (currently undecided sentiment).

So when the FUD convinces people that bitcoin has magically and after 13 years has decided to for the first time to follow US stock market and then that market dumps, a lot of newbies who believed the FUD would dump their bitcoin for no reason but being manipulated into panic selling.

Otherwise it hasn't occurred to anyone why dump size is so close whereas it should have been huge if history is any indication? That means stock market dumps 7% and bitcoin dumps about 8% whereas historically it should have dumped 20%.
They are just squeezing newbie weak hands out.

Today I was surprised when I opened a trust wallet and saw the market drop of more than 10%, even when I noticed the price of bitcoin was almost dropped below $ 25k even though it was currently rising again to around $ 25,500, the Bitcoin scenario to drop down $ 25k was certainly very large so that I put up a buying price of $ 23K in spot exchanges.

there is 1000 dollars away before 23k reached and this is the movement now

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

 the sign of drowning is here , as the price is now drops to 24,600 USD ,  I think we are in the next phase of bear market , as the world is now experiencing this economic problem and  even crypto market will not safe into this.

Yes, we are about to reach $23k, and it really doesn't look good, but we can't do anything for now but let this flow happened. And I think we have established lowest lows already, and as all cryptos are down -10% or more. I think the major reason for this meltdown is the Feds on rate hikes and the economy in general.

https://www.cnbc.com/2022/06/10/fed-will-raise-raise-rates-next-week-but-powell-may-matter-most.html

I can't blame those who are in a panic right now and choosing to get out and maybe be back later strategy. So let's see how dip this flash crash is.

Bitcoin has always posed to be bearish ever since it failed to get over $70k and now seeing $20k really sends shivers to anybody hodling onto some big bags, but what's really shaking price to be in the downward trend for this long...are whales selling off, could regulation be the culprit here...

Didn't expect, when i woke up and checked the assets it turned out that i lost more than 10%, sorry for not selling when the bitcoin price was $30k, today bitcoin dropped below $25k and became a record low in over a year, hope it doesn't drop below $20k .

Well, that was fast, all this occurred while I was asleep. Honestly, I truly believed that the prediction would turn out true, however, I never expected that it'd   go that way so quick. Bitcoin is currently sitting at $24.000 as we speak and Ethereum at $1.200, both just hanging above the 24 hour lowest point. By the looks of it, both are going to crash even further. On the one hand, I don't mind since I'm receiving a higher amount in Bitcoin, but on the other, it's kind of sad to see the market in such a state.

https://i.ibb.co/DgvMTnm/Bitcoin.png (https://imgbb.com/)

Screenshot from CMC's live chat. I'd opt for option A.

Honestly, I don't understand what news caused bitcoin to collapse so much today. I woke up today like everyone else and was very disappointed with what happened. But judging by such a big momentum we could really see 20k soon, when Asia and America come into play, maybe even panic selling will happen.

This indicate that the crypto market is so unpredictable and even if there's no news we can still see the market fall, also provably this collapsed is due to another series of people get panic on situations like this and this is what whales like because from this they can start to accumulate more cheap bitcoins. Maybe those worse figures might came because we don't have good positive news that can lift bitcoin at this moment.

According to https://www.cnbc.com/2022/06/13/bitcoin-btc-falls-as-market-focuses-on-celsius-issue-fed-rate-hike.html

These are the key points.


These are just some of the reasons but in totality, the market is already in the bearish mode so we can expect that it will dump big time, and I will not surprised if it will dump below $20k.

I wonder how low this price will be as we have already reached $23k and the price is still not showing to go up. If this situation continues, I am afraid we will see another low price which can make people panic and lose confidence in holding their bitcoin, as many of them already bought bitcoin at $30k. But if more support comes to bitcoin, the price will not go down and can hold the price and even lift the price back to the high price. Meanwhile, we can wait a while and see what and where the price will bounce up.

I was also quite surprised after waking up and checking the market, the bitcoin price plummeted today. With the current situation there is no news that can pull bitcoin back, June 15 with the goal of reducing inflation will certainly continue to increase interest rates and volatile assets like bitcoin will continue to confront selling panic in the market. Selling pressure is huge, I hope people will have diamond hands now instead of panic selling, 1 BTC = 1 BTC if we haven't sold yet.

Bitcoin has entered a price bottom, 23k has been reached today, and indeed there is a chance for it to go much lower,
for example $20k, but I believe it can happen due to panic selling and big liquidation on the exchange,
of course there will be a Wick on the chart, no can be sure, but we have to be careful

Eventually we'll have to sell, thus this argument is kind of invalid, because your assets/portfolio are losing in value. Unfortunately, it looks like there won't be a recovery anytime soon. My guess is that Bitcoin will he stale for at least a year before any recovery is made, like it happened in 2017's crash, 3 years passed for Bitcoin to recover.

I wouldn't be surprised if that's the case in our current situation.

The more bitcoin is concentrated in few hands, the less efficient it will be against economical crisis scenarios, market manipulation and high volatility. The issue is that there is small groups of whales who play with prices and control which paths the market is going to follow. And although whales invest in bitcoin, they aren't bitcoin adopters for real, rather they are profit seekers at all costs, what means they don't bother destroying one thing and harming a whole ecosystem to benefit themselves temporarily in another trend (that is currently US dollar) until they also drain everything they can from this and jump into a new trend.

But it's in crashing times like this common investors have the opportunity to decrease the whales' dominance by purchasing the bitcoins dropped on the market. Compared to previous years I believe whales are more organized and acting coordinated, but in return whales' dominance is thankfully decreasing as the time goes on.

I thought Greek was the language of logic like a member of the greek government recently told to the turkish president but I don't understand how BTC could reach $35 000 if it can't recover as long as it remains below that level. BTC is currently below $23 500, it would mean it will stay at this level without any chance to rise again. But a volatile asset could always pump in the same way it has dumped, that's why it's called volatile.

I would go for A too but for sure there are people who are freaking out and choosing that D.   :D We are crashing now but is this the first time? No. If you've been here on this market for years then these things
arent something new and you are already get used to it and do knows on how to utilize these movements for your advantage.
Cant really blame out for someone to have those impulsive reaction specially for noobs but once they do get the right idea and awareness then
they wont easily be that too reacting in times like this.

I am quite worried when I saw the price today. We didn't witness this deep since years...
I am still optimistic about Bitcoin and a believer that it is undervalued but such a crash since months is sad. Hopefully this will be resolved soon and it get back to +$40k

All of us worried about the situation happen recently since we don't have any reasons why bitcoin drop this rate and besides the recovery is slowly happening last couple of weeks. But for this thing happened I'm preparing my stash and want to buy some bitcoin then alts to knowing that we didn't go deep at this current rate so maybe let see if we can earn by this since as of now many people are dumping because they are trying to minimize their losses at this level.

The current bitcoin price has fallen again to $22k after a few hours ago at the level of $23k. That's why I'm thinking to what extent the price is still going down and it looks like we will see the price going back to the bottom before yesterday's ATH. This is a tough test for those who bought bitcoins at yesterday's highs because some have already sold their bitcoins at previous price levels. Let's just hope people don't panic and sell more bitcoins as the price drops drastically. But I still believe bitcoin will go higher than yesterday's ATH after this bloody drama.

Yes it is and the market shows it now https://coinmarketcap.com/currencies/bitcoin/ now at 21,600$ value? so what more it can fall ? maybe at least 18k? if the price drops below 20k then I am sure that 18k is the lowest and then will spike up till the end of 2022.

Lets not look at negative on this part guys , instead lets find what is the chance to profit from this and that is to purchase more when in dip.

So what more now mate that the price drops down to 21k? so you are more shocked and cannot believe in your eyes?

But that is the reality now mate and we have nothing to do but to wait the increase and never take part of the dumping by holding our coins.

It did mate,  the drops happened already and looks like there are so much participation from the community so the price really fell hard.

I think what he said finally happened today with Bitcoin touching $20,850 a few hours ago, though total marketcap still stands at over $987 billion. Unless there's more doom to come, I don't see price falling below $900 billion. Whichever one it's anyway, I'm not perturbed at all. In fact, if anything, I want price to crash more so I can get in cheaper and buy some of my targeted altcoins. Why should I be scared when I know, of course, that's just a matter of time before the market returns to bull way. Howbeit, whoever that's looking to buy Bitcoin cheap should see now as that elusive opportunity they sought a few months ago but never had.

There's a slight recovery for Bitcoin since morning, where it crashed down to $20.950 and is now trending back at $22.000. To be honest, I don't believe that the prediction is over yet and chances are that it's going to go below $20.000 the next upcoming days, the resistance isn't strong enough to keep it over $20.000. I hope I'm proven wrong, but we'll see how it progresses.

But you did... ;D
I was thinking that no more $20k and below. Despite the current market crash, I was still thinking we can make it stabilize above the line ($20k). The US inflation has somehow given a huge influence on the market causing this tragic downfall that makes some investors got to panic and start selling off their Bitcoin. We just hope this will be the last drop it shows, otherwise, the market will get shaken again like the last bear season.

https://i.imgur.com/WIu2JFR.png

we got some spike, that seems a big hope for becoming better.

The scenario has occurred, the current price is $ 22K, maybe the next scenario is whether the price will continue to drop up to below $ 20K? If this happens, of course, making a large storm and panic will occur again so that it will make a sharp correction, the best thing is hold and be patient.

Of course, this will be a big fluctuation where the market is still volatile. During this slight recovery, it will decline slightly because I believe the bear market has not yet ended.
This is already a year low in which this scenario will still crash below $20k but I still hope this doesn't prolong a bit of recovery in the days ahead enough to calm us down despite the fear of another big crash.

We all were, I really didn't expected it to drop like this, don't get me wrong it is not unnatural for bitcoin to drop, it happens all the time and this is just another one of those times, but it wasn't expected neither. I would say that it is going to be okay, I can't give any guarantee or anything, but by the looks of things I can say that it is not going to be that much of a shock neither, it should be quite alright.

By this time in a month or two, we could be very well above 40k, not saying we will, but since bitcoin is volatile enough to drop like this, we all know that it is also quite volatile enough to go up very fast when needed be as well.

Was it all a coincidence? But maybe not, we have been in a bear market for the last few months so here are the consequences.
I may think the same as those of you who wanted the price of bitcoin to drop much lower to accumulate it, but today $20.8K is a low that may be abandoned soon or could become resistance if the decline continues. I'm just worried we're not going down again, so we have to be positive now.

Since we're not fortune-tellers, we'd certainly be surprised Bitcoin could drop this deep. After all, the movement of the crypto market is very volatile,
so it is only natural for Bitcoin to suddenly fall quite deep. But I believe those of us who have been in the crypto world for a long time know how
Bitcoin works, sudden drops like this have happened before. So maybe at first we will be surprised, but we will be able to accept it and know what
to do to deal with a bear market like now. For sure Bitcoin is the best crypto coin, so everything will be fine as long as we don't sell our Bitcoins
at low prices. We have to be patient holding the Bitcoins we have in the current situation and remain optimistic that the Bitcoin price will soon recover.
Because we already know Bitcoin can always recover even though it has experienced a very deep.

Bitcoin did not crash from the beginning, their is different between bitcoin going down and bitcoin crashed. The two English words have different meanings. From my perspective when you said Bitcoin crashed that means the technology of bitcoin has been eliminated but when you said bitcoin decreased that means the price has stabilize in the market, so their is every tendency that the price will accelerate anytime soon.

We need to realize that its not that common or easy for crypto to be like this, it takes time and effort to make it this low. I am not saying that its going to be easy to recoup, but I believe since we are so low already, I believe that it would be hard to go down even harder, this looks like a proper place to stay and not go down too much. At the very least, we should be focusing on why we dropped, so that we could recover a bit better and do a lot better in the long run. If we can avoid the same reasons in the future, then it would be hard for crypto to drop like this again, and we will protect ourselves from these drops for the same reasons.

As you've mentioned the price have crashed. The network is strong which is the success of bitcoin against other cryptocurrencies reaching the market. The market is uncertain, so we can expect bounce back anytime soon. For now market is experiencing the bull market, which is purely connected to the factors surrounding it. In particular the market have now well connected to the global market which is also a reason for the ongoing market decline. This time we can expect slow progress in the market.

People tend to call a crash when the price go down too much suddenly without a clear sign for recovery at least in short term.
The economy in most countries is taking a hit after the covid-19 pandemic and the Ukrainian war. Inflation is slowing down everything.. That might explain partially what's happening but there is a huge volume of bitcoin bought for +$60k, 50k, 40k and 30k. These investors took a huge loss in the short run. In the medium / long term, the price will recover most likely but who knows when!

And way down we go, we're steps away from going below $20.000 (Bitcoin currently trending at $20.230 as we speak) while Ethereum at $1.030. As I've mentioned earlier, we haven't seen the worst yet, and it's bound to crash even further. In my opinion, the following winter will be a hard one, inflation has skyrocketed, the war isn't coming to an end while fuel and electricity will cost a fortune. On top of that, the cryptocurrency market is likely to follow trends of the 2017's crash for many months to come, if not years.

I'm not sure if the recovery will take a year or a few years. It is more likely that in a few years there will be another big drop after the recovery (not necessarily that ATH will be reached). Big drops were in 2018, 2020 and now 2022. Also note that after such falls there was always an immediate recovery process.

And it's $20,580, we thought that the downtrend is over as we are bouncing around 21k-$22k. But another set of sellers pulling the price into the support line of $20k. Still hard to interpret though, the sentiments is still negative and so who knows, maybe in the next 24 hours, the price will go hard again and then that support line is broken, pulling the price to the next resistance of $18k. As for the recovery, it will take months or years if we are going out of this worst bear market we have seen, worst than 2018 if I'm not mistaken.

The definition of worst will depend on how you look at this, in terms of the money lost by the markets and the traders without a doubt this is the worst bear market that we have ever seen simply because now the market is way bigger than what it was, however in terms of the percentage drop the bear market of 2018 is still far worse than what we are seeing right now, obviously this bear market is not over and anything can happen so we cannot really assess things until this bear market is completely over and we can compare the two.

I didn't expect that the post made 5 days ago when the price was still around $29k turned out to be true, the current price is around $21k, of course it's interesting to know the next price, and I hope to rise again soon and reach at least $30k and in july can reach at least $35 k.

I think this is happening now, bitcoin has crashed down to$21k and there's always a possibility that bitcoin could even go below that, which means the market recovery is too far to be possible. Instead, we are seeing the whole crypto market is in winter, and the only thing to survive is to keep buying and hodling. And those who resort into panic selling will certainly lose a lot especially if they bought bitcoin when it was its $35k-$40k price range.

bitcoin price is rotational and irrational so if the price downgrade from 29000 thousand for 21,000 that is to show that the price r is not constant and that is how it will be when the price is rising because you might expect the price of Bitcoin to increase by 10% different and the price increase by 20% different so the movement of cryptocurrency generally is not something that is predictable or something that is fixed to a particular price or amount so that is why when Bitcoin price falls and people that know heat regulation does not panic for it's value for a moment

We believed that when the price moved between 28k to 31k as well. Anytime it went from 28k to 31k we believed that the bear market was over and we would go high, then it went back to 28k and we kept on waiting and then it went back to 31k and we believed the same thing again. This repeated maybe like 5 times if I am not wrong.

So this time around, there is no luna, no new fed deal, nothing that should have made it go down at all. It just... happened. So, we need to ask ourselves, maybe we are in crypto winter, bear market, or whatever else you want to call it and there is no outside thing required to keep us going down, and there doesn't seem to be a reason to go up?

Bitcoin will always expect to dump more as long as bearish season is here. So crashing between $20k-$23k is not surprising as it could even fall below than that if possible.  Bitcoin once fall into $3k and yet it recovers, so there is nothing new like this. Whatever the specific reason according to OP, but as long as the market remains having a crypto winter, there will always be price drops not only for bitcoin, but the whole market is in blood.

No one can really say how far the price of bitcoin will fall during this bear market. Of course there are those who hope there will be a bigger decline and there are those who hope that it will recover soon. Really this is something that is difficult to predict, but when we talk about the possibilities then there is a feeling of optimism about the recovery that will happen until the new ATH hit.

As for the downside, I'm pretty sure it might happen again in the near future because it's hard to erase the panic in the market. But for most of the time we should really know that the price will move in both directions and the storm will soon be replaced with light.

Why do you assume that bear market is not ended yet? I mean I am not saying that it has ended or anything but I have no idea if the bear has ended or not, I do not know if it will be 10k in a month, or 40k, I would have zero clue about that. I am guessing a bull run after such a fall, that seems a lot more logical to me, but that is just my understanding, I could be wrong.

What made you think that it will continue to go down? Is there a specific reasoning for that? In any other case, we should be focusing a bit more towards buying something right now, because long term is usually higher and that should be right about now and not later on.

We're just sitting above $20.000, as I've already mentioned, I wouldn't be surprised if we go below that in the following days, it seems to be holding for now, but I'm not sure for how long it'll resist. Although, I'm not expecting a bull market anytime soon, at least not till the condition in the world improves. The ongoing war, the rising inflation and the whole tension isn't helping the markets, it was expected that cryptocurrencies would also be affected by it.

Currently Bitcoin is trying to maintain its important support in the $19K-$20K area. Of course this area becomes very important for bitcoin to maintain because if the area is broken down then the next closest support is in the $15K-$16K area. I think this is the worst case scenario in this bear phase. Therefore, it is hoped that this scenario will not happen.

I don't fully understand what scenario you are talking about because so far the massive bitcoin price correction has really worried some people. Especially in the last 24 hours, I'm sure people will be very surprised that bitcoin is still bottoming out even now that recovery attempts have been made.

I'm still convinced that the bitcoin price correction so far isn't the worst, but it certainly makes me feel that many traders still have a weak hand. They sell frantically, it makes things worse. Hopefully something good will come soon and the price of bitcoin can recover again, this is a hope that is sure to get a lot of support.

We have left the scenario even yesterday became the lowest price record because it became $ 17k, maybe the current scenario is around $ 18k to $ 20k, if we can reach $ 21K then I am optimistic that the market will immediately rise again, and conversely, if the market drop again below $ 18k might continue to drop up to $ 15K.

the strongest support is still at $18000 and I'm also still monitoring the price of Bitcoin until now,
there's nothing to be afraid of at this time, I'm sure Bitcoin will sideways at the level of $19000 to $20000,
so we are also getting ready to buy or sell, because it's true what they say, if we lose $18k then we will go to $15k

This is right, we haven't been there multiple times so far, so we can't know how much that wall could stand, but we know for a fact that it is one of the biggest walls we have seen during this fall, probably the biggest one so far. I know that it doesn't mean it can't get any lower, of course it can get lower, if we sell a lot then it will be under 18k and why shouldn't it be.

But, it just means it is going to be a lot harder at least, it is going to take a lot more bitcoins sold to get anything under there. Which is why I am feeling quite comfortable for the time being, I believe that it is going to take a while before we could see it go any lower.

Today the price is up about 2% but still around $19k, hopefully it will return to $23k tomorrow or the day after tomorrow, and the next target is July can return to $40k, nothing is impossible because rising tens of percent has happened and often happens in a day.

I don't expect a $40k soon, we are in a bear market so the price will likely go down. Actually, we can consider the current price as the bottom already as it's very cheap versus its ATH, but it's up to you. It's okay to remain optimistic but we have to understand the current situation and we can only do that if we are realistic.

It's currently sitting $21.700, seeing an increase of over 7.12%, which is interesting and I'm curious if something specific triggered this small price rally. Nevertheless, it's quite doubtful that it'll continue, chances are, due to the economic recession that we're bound to go through, Bitcoin will be no exception to the rule.

right now Bitcoin is having small increment for it volume. It's for last week when the was unbearable and Which some people prediction go exactly to $17000 and why some people said that bottom line will be directly to $12000 which we expected and Bitcoin the price has not gotten to that, and instead Bitcoin maintain such values of $19000 and $20,000 which now right now is at $21000 and approaching to $22000

Don't get ahead of your self mate, $40k is unlikely, we are still in the bear market, and this recent spike could not be sustain then we will go back below $20k again. We even reaches as high as almost $22k if I'm not mistaken last week and yet it did go down again. And which means that speculators are playing the market, and whenever they see a good chance to sell and make a profit they will do it. So I'm expecting the same here, if we ever reaches $22k this week, I'm expecting another sell-off. So this might be another trap being set to us by manipulators so just be careful and just expect the worst this year.

The reaction of people in cryptocurrency downfall recently is what is making some people to predict wrongly about cryptocurrency everybody knows that what is happening now in cryptocurrency has happened before and he is not going to be the last all the first cryptocurrency experiencing negative reaction in the market so from my own point of view I understand that cryptocurrency is a currency that without it down for it will not to make a popularity

I would say that 40k is not a big big leap from here. People think that getting 2x is a big deal, but in crypto it’s not. I agree that it will not happen in July, but if it were to happen, 15 days is more than enough to double bitcoins price. You'll see, when the price goes 2x, it will happen very fairly quickly, not now but it will happen fairly quickly.

Hence, I do not see it as a big trouble, I see this as an inevitable thing that we are waiting for. For all these, I am not selling my coins, I am just holding them and I think it will go up very much. So much so that, if I hold it for another 3 cycles like this, I will be able to retire as a rich person.

Except that no one gives any guarantee that these cycles will be repeated further, since they have been repeated 3 times. This does not mean that such repetitions will last on a regular basis. In any case, I would not rely on bitcoin as a carefree retirement. :D It seems to me that at any moment the same story could happen to cryptocurrencies as it once happened to dot.coms. Surprisingly by the way, back then Michael Saylor went bankrupt.

I do agree, yes we can do x2 or even more, but what I'm saying is that the prevalent market conditions, we are in a bear market and as what the article link by the OP, this is mostly the case right now, We will remain in that price range, $20k-$23k, because of what is going on and recovery will really take some time.

so I doubt that even a $30k push is possible in the next couple of months or even at the end of the year. We have to accept that scenario that we are really in a bear market and that we have to endure it again.

The reasons for the decline in Bitcoin prices are varied, but one of the factors that caused the price of bitcoin to drop to as low as $20k-$23k was due to the strengthening dollar and the deepening pressure on the crypto market amid the monetary tightening of the central bank. Bitcoin is currently under intense selling pressure where the bitcoin price is currently at the psychological $23k mark.

The right prediction is because we are in the price range of $ 20k- $ 23k, but as an investor who wants to be successful, this is a good opportunity to buy, don't buy when the price of rising, but when red like now is a good opportunity to buy at a price inexpensive.

It wasn't actually dollar getting more "strength" but more like withdrawn from the markets. I mean the money is still there and as soon as the rates go down again, or people make more money some other way, that money will be back on the market. They didn't make it vanish, they just stored it on their banks and that's it. This is why I highly doubt that it would make any sense for people to go big on dollar anytime soon.

On top of that, most of the banks that now offer more money, do not make that because stock market crashed and that is where main income came from. Hence, I think it is quite understandable for everyone to not make a mistake about crypto right now, and buy into it.

Currently the price of bitcoin is experiencing a slight increase in price, where the price has returned to touch $23k after a few months ago the price of bitcoin fell to touch the level of $17k which resulted in the price of bitcoin experiencing sideways. Therefore, let's see if the current price still has the potential to bounce down like before, or whether it manages to rise up. Hopefully the market recovery will return as expected.

Bitcoin is still under $30k in my opinion, it's still very risky to be under $20k again, because some time ago Bitcoin also reached $18k,
of course this is a sign that the price is still very weak, especially now that the war between China and Taiwan is heating up,
and interest rates are going up, yes the market is volatile and better wait.

It's really not "risky" if you know what you are doing. I am fine with bitcoin being under 20k again because that means I get to buy more bitcoin at a cheaper price and I would be happy about it. That's what the real bitcoin long term investor thinks, if it goes up then it's great, we all would make profit, if it goes down then that's great too because we could all buy some more and then profit even bigger later on.

There is no loss in bitcoin as long as you are not willing to sell and in order to do that you have to believe it, many people did in the past and they are in big profits, and if you are not sure if we will survive the current situation, then you do not know much about bitcoin.

What do you mean risky? if you are going to purchase when the price goes under $20k, invest and hold then where is the risk there? bitcoin is on the top of the food chain because of supply and demand. And when we hit the halving in the next 2 years and as the supply is dwindling there could be demand in the future. And right after the halving we may have to experience bull run again. So the risk that we are taking today will be worth. Yes, there are a lot of things going around the world that can affect the price, it would hit global trades and the world economy, and not just bitcoin market that will be severely impacted by other traditional financial markets.

I believe the price of Bitcoin will always be above $20k until next year, and $18k is an all time low for the bear market this time,
because according to technical analysis Bitcoin is really at the point of oversold, which means that many have sold Bitcoin when the price under $20k, well I hope this is true

Yes, its oversold basing on technical indicators but we know that TA's doesnt work precisely or from time to time which means that we cant really assure that we would really be following on what those

analysis would be telling us but at least it do really give out some idea on where it could possibly go but telling about wont be going below 20k for this year is nothing can be assured.

Everything could really be a possibility because this market is totally unpredictable and there's no way that you could really make fix presumptions about price or numbers
that might end up for this year but i do hope we would be seeing some significant numbers for this year.

Making these type of predictions is not really that hard when you are not followed up. I mean if you asked anyone what the price peak will be in august (right now) and then September and October and November. There would be very very few people who will get it right, and I mean like make it an online thing.

I know this because I have gambled at freebitco.in for a while now and rarely people know where it will end up, and let alone do that back to back. So, some guy could know about what it will do once, but could they do it back to back for a long time? Because you need to do it like that in order for me to start listening to what you are saying and make trades based on that.

The price of bitcoin have reached $24200 in the last 24hrs. The week have started with a bullish move, and now slowly the market price of bitcoin have touched $23800. This is something common in the market. Now the price will try to create momentum around the range of $23k - $24k. Achieving this could push the price cross the barrier $25k. So, in the upcoming week there is more chances of $25k.

Good shape to BTC progress but it has to get past the 50% retraction (https://talkimg.com/images/2023/06/12/AIiCT.png) level for the June top to bottom pricing, once it does that and maintains above the 50 day average it has my confidence we can actually go somewhere.   

50 day MA rising and holding this pattern is good but we continue to hesitate and volume to the rise is so far below the volume to the drop that I presume it can only mean we must fight far larger in future to rise back to yearly averages in a proper recovery.     Basically I think this autumn into the end of the year is the reasonable timescale for our recovery.

then you are completely wrong already because the price of bitcoin lowered down to the lowest price of 17k already and that happened last month of July so your assumption is far from what is reality.
 and how can you assume that the price will constantly hold that 20k above? you will only feel the disappointment if that will be your outlook because market wasn't stable still .

If you happen to read the thread , it was created back in June when the price is still above that level , and OP is wrong because the price even dropped to 17 k things that he did not mentioned.
But this thread should be closed because it was already happened and we need to have another prediction by now.
I think the barricade now is 25k  , if this can be broken then maybe it is safe to assume that 30k will be the next target?

As for the lowest price on Bitcoin, that's definitely true. But for many who have sold Bitcoin when the price was below $20K, I don't think it's the right thing because until now there are still many people who hold Bitcoin and choose not to sell it, including when the price is below $20K. So I'm sure that next year the price of Bitcoin will be slightly different from this year's price which could even approach $30K again.

The bitcoin price scenario to the $20k-$23k price level has occurred where the bitcoin price is currently trading in the $24k-$23k price range. Therefore, if bitcoin is stuck in the $20K resistance area, the bearish trend will continue and it is possible that the bitcoin price will fall back to the $19k price level.

We are stuck in the resistance level of $23k-$24k. And yes we are still in the bear market, and even if we hit like $40k, I would say that the bearish sentiments is still there and can't be discounted. Maybe some sort of comfort short term.

We can't tell if we will go below $20k, at least for now, I do think that we have hit the lower lows at $17,500. But still though, a good buying opportunity as the price is not really that high. We can go and continue with our DCA until you have enough in your wallet in this bear market.

Agree with most of your opinion, apart from being stuck between $23K and $24K that is (as of typing) no longer that case  ;)

Long-term price is still in a bear market, and it'll likely be the case not just to $40K, but $50K, even $60K. Unless a significant higher low is established before then, then any coming rally will merely be a dead cat bounce before establishing either a lower low or higher low (in the macro sense). But this is what many Bitcoiners can't get their head around in a bear market, that price can double from here relatively easily.

Personally I think the bottom is in now and $20K to $22K has become strong enough support to hold price, as long as we get a significant bounce to $40K to $50K levels prior to making a higher low many months later, possibly around $25K to $30K, but too early to tell for now. Just yesterday price was around a 4-year average, so it certainly still looks like a good buying opportunity long-term, nothing has changed there.

that's right!, today is the right time to buy Bitcoin at the price of $24k,
because technically the price of Bitcoin has broken out and will go to $30k,
many channels have said, of course this will be a bullish signal for cryptocurrencies.

Hmm, love your optimism about the price breaking $30k, but still a long way to go from here. Luckily we have bounce back to $24k again and that is one of the mental barriers, but I will say that the next one will be $28k and then $30k.

Definitely that will be a bullish signal, but still way below from what we reach in November of $69k. So there are still a lot of things that should happen from here up to the end of 2022 so at least get closer to $40k. That will be the goal, short term.

I also hope that the price of bitcoin will always be above $20k and not fall below $20k again, but anything is still possible in the crypto market, let alone the global macroeconomic situation that is still volatile. So, let's see and wait how far the price movement of bitcoin so far this year.

The price of cryptocurrency is not something somebody will rely on because I believe that the more we enter market or cryptocurrency the more the price is going on so they are for saying that bitcoin is getting to the endpoint I disagree with so many people because this one is something that increase or rise  anytime we never feel. I believe that with the level of what we are experiencing now there is a certain change concerning cryptocurrency movement. But some people don't think that bitcoin is crashing and it will not get any value again because of a drop for higher concentration to lower concentration so right now I think is maintaining the concentration of higher.

Although the past few days are showing bright signs, the economic situation is still too volatile, once the war has not ended, a stable economy cannot be expected. I don't care how much bitcoin will fall, the more the price drops the more bitcoins I will collect because I am a long term investor, I can hold and wait longer than 2025 as everyone is expecting. But if the bear market lasts too long, it will also affect the market, many people leave and it is difficult to develop the crypto market.

True, too soon for the celebration when BTC is over $24k when the market is still uncertain and hasn't stabilized yet. If BTC drops down to below 20k, you'd DCA more since you're a long-term holder. Even then, you're hurting your own bag since if the market goes too low, things will go overboard. Did you see crypto financials and investment groups filled for bankruptcy and bait out? Another drops like when BTC hit 17k might set back the crypto scene for years.

I would agree that the war is still a noise in the background and it could affect every market not just crypto. And there is no way that this might end in the next couple of months or this year. So it will affect the mindset of investors, nevertheless the market will remain and try to go above the $20,000 market. That is the biggest test for us and it seems that we have gotten over it already for the last month or so. And hopefully it will sustain that price or even go to $26,000-$28,000 as this is going to be very critical as it can tell if we can go to $30,000 or more. That for me is the biggest barrier to be broken so that we will not see another lower lows for this year.

If for this whole year I'm sure the price of Bitcoin will not be below $20K again and even I am still very confident that the price of Bitcoin can exceed the price of $25K within this year or during this time of year. Although anything can still happen in the crypto market right now, but for the price of Bitcoin I think it will still stay at a better price.

yes also agree with you that the price of Bitcoin will not go back below $20k, and maybe it will be another bullrun,
because the recession will have a positive effect on cryptocurrencies, just like during covid 19,
many people think bitcoin will not be bullish, but 2020, the bullish trend is very strong and makes altcoins and bitcoins reach new ATH

What was stated by George Savakis who predicted a bitcoin price correction of up to $20k-$23k was true. Especially now that bitcoin is traded at a price range of $23k-$24k after a few months ago it fell to a price level of $17k. Therefore even though the bitcoin price is currently stuck in the $24k area, it still seems difficult to see a market recovery in the near term.

I don't get some analysis most times. It seems that George was right but then, in the process of being right there is still contradiction. If bitcoin can be able to move from 17 to 23 according to him that is recovery already. So does he mean that after Bitcoin gets to 23 it will return back to 17 or it will remain in that price range for ever?
Common sense should say that if something rises from 17 to 24, it can still get to 35 and more. Let us day that the first phase of his prediction has happened, let us wait for the second phase.

^^ Just remember most of the time, as we can't predict the price movement, those TA gets invalidated as well. So it doesn't mean that we will get back to $17k as I believed that the bottom is in already. But we might go on another sideway pattern again, as we goes down to $21k, so it could be around $20k-$23k as what the OP have said months ago. I know, it doesn't make sense to go back to the movement again, but it is what it is, that's how bitcoin market work, it's hard to gauge the movement until we crossed the bridge.

Bitcoin has now entered that price, and is now trading at $21K, briefly dropped below $21k and bounced,
and hopefully this price is the strongest support price, because if $20k breaks, maybe we will see $15k to make a new lower low

Bitcoin is trading at $22k right now, and I've been told that I've seen the telegram channel,
twitter and some ideas from tradingview also all say $20k is still important support,
so it might be time to buy? because if indeed this price is a cheap price have you also bought it?