Bitcoin Forum

I am not 100% sure. This could be the bottom i.e at $20k - $22k or there could be one final capitulation to $13k for the final bottom.

Usually, BTC bottom is a drop down to 84% but again we have more awareness and adoption. From now on the drops might be smaller.

What do you guys think? Go with your gut

So far it looks like $20k was the bottom and the market doesn't show any interest in going any lower. For example over the past 48 hours they have been trying so hard to manipulate the market for a bigger crash but they failed and price went back up again.

Usually there is a >10k% rise then there is a >80% drop. We didn't have that kind of rise this time to be followed by this big a crash. So what we see is new and can not be speculated based on past market behavior.

While we cannot be 100% sure, I would say that the $17k we saw recently was the bottom of this cycle, barring catastrophic news.

I didn't quite understand that after the rate hike both Bitcoin and the stock market went up. In theory less liquidity is going to make them go up less, but I guess that is because with these rate hikes inflation is going to be curbed.

What I don't see is great joy until the next cycle. I don't think we will beat the ATH until then.

Why are saying $20k is the bottom. Bitcoin was below $20k as of the month of June. But as for now $21k is the bottom. But I can not be hundred percent sure because the market is unpredictable in nature. If anyone wants to invest in bitcoin, don't look at the bear market but having strong heart and determination.

Well we have seen the price going to $17k and others say that this could be the bottom already, but there are still who thinks that it can go lower.

But so far, we have stayed in the $20k'ish price range since that last all time high. So who knows, we are in the -70% drop from $69k. So if we go by your 84% then we are still very far from the bottom price. But then again, market is very volatile, so it's hard to predict if the bottom is in or not.

this could be? or will be? who knows?

nowadays , the price is constantly changing , it is somewhat climbing a little but falling big and that is not a good indication for short term holders.

it is far different from what we have in the past , because we have more institutional investors now and imagine that the market is not falling to below trillion dollars.

Whenever I see topics about the bottom both on the forum and the social media, then I expect another dip. It could indicate several buy order are set around this price in most of the exchanges. Then the onchain analysis could tell with number of bitcoin deposited in past few weeks on exchanges. All the space will need a news, not necessarily a very bad new before we see another deep, I dont deny that we are close to the bottom of the market from here, maybe just 2 steps from it.

You should know that the price of bitcoin can drop sharply again and take us by surprise, especially if we are not prepared for anything that could happen to bitcoin.
Only by being patient and calm can you continue to analyze the market situation to find something that might be useful to you.
If you ask if this is the most basic price for bitcoin, the answer is only possible because we don't have a definite answer.
But, if you want to buy bitcoin, buy it when the price is decreasing and if the decline is sharp, that is the best time to buy bitcoin.
But it all depends on how your analysis results because never do anything based on other people's analyses that you don't know.

Hard to say, if we look at the current price, it's just like $4k-$5k, so that can easily be shave if there will be a negative news, pulling the price down below $20k.

On the other hard, it seems that we have bounce back again, and even if we still war the war in the background, the price hasn't struggle. And as we either the last quarter, wherein the price seems to be recovering a bit, maybe we have witnessed the bottom already.

No one has seen the future, so yes no one can actually say what is the bottom.
What people are saying or answering you is based on predictions and estimations. BTC has fell upto 17k usd. I guess that was the lowest point for the bear market.
And now BTC will struggle in the 20-25k usd range for few more weeks, then we can see a price jump maybe.
Let’s hope for the best and wait.

I'm currently at 60% believing the bottom is in, so have voted yes, but not fully convinced yet. Closing back above the 200 WMA this week or next, currently at $22.8K, would increase this to 80% for me.


While the 200 WMA looks like it can be reclaimed relatively easily now, my main concern is that hash rate has not fully recovered yet, which has always been the requirement for a recovery in the past. This is simply due to strength of the network being an important fundamental aspect of price increase. That said, this could simply happen at a later late around similar prices, after a pump and rejection from $30K for example.

The price have been between $22k and $23k for more than a month and for now no body can say it clearly that the price of bitcoin has reached buttom for now it is about prediction and being careful because this could also be a bull trap that if you sell you may regret when the price start to bull, it is only an uncertain market this time.

It's impossible for anyone to predict what will happen, if the last run was any indication. Having a plan for anything is the best advice. Be realistic.

There is very strong support at 19K, so the worst may be over. I do not think Bitcoin has any better chances of going lower, but it is still a gamble. As far as I'm concerned, there is a great deal of manipulation going on. Bitcoin bought under 20k is now being sold to us for 23k by those who purchased it before.

I will vote yes on the weather showing up today because BTC did just react very positively.   Medium term I did imagine we make another low and scare a few more out even if it was brief it will harvest some stop loss orders before finding a less volatile direction.   
  BTC spent the last 4 days contending then beating the 50 day average, to leave that behind along with most other shorter term momentum measures will have many assuming BTC can remain positive for the meantime.  30k seems possible or that general area so long as Dollar trades lower, ideally I want DXY below 105

I think you are now too late for this. Most of us here are now talking about the pumps and not the dips or the bottom. Where you at when the price is falling down to 16k? But that should be the real bottom for btc because after that, the price did not drop anymore but it only became stable and then showed a small increase later on.

This current price we are in now may not be the true bottom but I think I still can consider this low so you are always welcome to buy it if you are planning. Don't wait for a more dip as it may not occur anymore. You once said that btc is now becoming more popular. In no time, many people are going to pour more money on here.

I think we are still in the levels that anything can still happen, remember that we are still in the bull run. Although TA might help to predict the price, as others may have said, nobody knows as no one knows what the future hold.


Of course, this is still low, the bottom is around $17k, and the price today is on $24k give or that. So that is still very cheap and there is still a good opportunity to 'steal' some bitcoin and then simply hold on it.

For the sake of speculation, we can assume that the $20,000-$22,000 range is the current bottom. The price is swinging at that range for weeks now and seems that there's strong support to hold that price range where there is notable more demand.

After all, we don't know what will happen next. Regardless if that's the bottom or not, if the plan is to hold for long, then just do the buy at that price level.

We should always try to avoid the question to ourselves, "if only I bought before" when an uptrend is now slowly happening.

For now we can say $20k is the bottom since market is showing some strength to remain playing at $20k - $23k figures and maybe we can remain like this until we see bitcoin price recover after bear market effect on it.

But we still need to watch how the flow end up these days because even if we see some green lines for the past few days still chances to see it dump still there.

The market once downtrend to $17,708.62 before it maintains the $20K - 23K price range which automatically makes $17K the bottom price. However, the recent market trend doesn't mean the bear market is over nor does the Bitcoin market's last bottom price been achieved because the last bottom price always happens in Q4 of the bearish market.

More awareness and adoption are not enough to make the market bullish and there's something that could make the market bearish despite more awareness and adoption and the mining difficulty level is one.
Having said that, I expect the Bitcoin market to downtrend 90% of its ATH price.

With all the recession and inflation going on, Bitcoin keeps recovering with veracity.
We are also making higher lows.

For me the bottom is in but confirmation will be when we hit the 30k support...

We probably hit the $17k so far but I think it's not done yet since I feel like there's still bottom coming like it's going to hit $15k and the rest will be aiming to a new support which is higher than $20k. I feel like staying at above $20k is the the new trend in this market just like how $10k to $15k was trending in the past before the bull run.

Well, who knows? But I think it's a thing in this market since the bull run is done and we are in this bear market again then we might keep seeing this $20k+ trend like a support before the bull market come again.

The global markets have a stronger sentiment now . Especially how they reacted with the CPI and fed rate hikes recently. This is why BTC and ETH especially seems to be recovering.

However it’s hard to say if it’s the bottom. Keep in mind that next month is when MtGox coins will finally move. And depending on how many of those holders decide to sell we might get another run at the low of the year. Unless the distribution gets delayed again.

At this point it is impossible to know what will happen, bitcoin has been showing a decent recovery and now we are close to the 24k level, however as we know the volatility of bitcoin is so extreme that the price could go down dramatically in just a day, so it is not like we are out of the dangerous zone and we could see a new bottom once again, personally I would not like to see this but I understand that something like this is possible and I got no choice but to adapt to the movements of the market.

I couldn't tell nor I can assume that we hit the bottom already until this bear season will end and the market turns bullish again. But as we are still in this bear market situation, more price drops can be possible at any time. It was best not to think about it but rather think about buying more Bitcoin while the price is cheap, as it takes a long time to buy this again if we miss this time. Just think about waiting for the next 4-5 years before you can see Bitcoin at $20k or not even seeing it anymore.

Well, I'm just doing my thing no matter what's the price it hit as long as my goal is hit too then I'm good. Just do the usual thing as a trader then you can overcome whatever the outcome of the market just don't expect too much since the volatility is our usual problem when it comes to prediction.

Doing DCA in a bear market is a thing and it's even more on your side when it keeps going down although the market seems to be recovering a little somehow but with the condition of the market then the correction is just around the corner.

We have reached close to $18k in the 2nd quarter, if this current momentum continues and there are no drawbacks, that likely be the bottom. But for now, it was just an assumption as clearly, we don't know yet for the incoming. Well, it was not important for me to see the bottom price of Bitcoin or even wait for that because what really matters for me is I already buy during that time and holding it until now. I wasn't in regret doing this and continue to accumulate more if there is huge market correction comes again.

We can't get into conclusion on the bottom price of bitcoin. It drops down and it bounce back in no time. Yesterday this happened. All of the sudden the price dropped drastically and today it is moving above $24k which is quite good. As people say the market movements were uncertain and so we can't predict which is the bottom and peak price.

My answer will be no. Mike Novogratz has already declared that the worst is over, however, how can we trust the words of someone who has a tattoo of Luna on his left arm?

Our old friend Tom Lee has also declared that the 2022 bear market is also over, however, in the last bear market Tom Lee is also famous for his prediction of $25k by end of 2018. Bitcoin was dumped to $3500.

https://i.ibb.co/TB7tmFV/4-E6-E9-DB1-585-B-426-E-8629-F925255-AF457.jpg

Tom Lee says the 2022 bear market is over

Source https://www.cnbc.com/2022/07/29/tom-lee-says-the-2022-bear-market-is-over-stocks-could-hit-new-highs-before-year-end.html

Well ...in the end it seems I'm about to be right that Bitcoin cannot surpass the 24k range for now and this should mean 1 thing : We are still in fully bear market and I don't think it will be over during this year and most likely will continue in 2023 or until the halv happens which is still a long way from now. Also , we should keep an eye on Bitcoin as it could go below 23k and if that happens , BTC might to back under 20k so that means we are still to see the bottom.

As for now i think we have touched the bottom, so i voted yes in the poll, i am not saying we are out of the bear market, cause we aren't, but btc might have touched the bottom and we prolly aren't going that down again in this period, but well who knows, quite a lot of things and some bad news too whilst we are still in this bear market and we could see Bitcoin at $17,000 again or below.

Your poll misses "I don't know". That's what I'd go with.
We may not go under 20k, we may go to 13k or maybe even 8-9k. Time will tell. Also in time we will know where was the bottom for this bear market.

If you find somebody who has a crystal ball, maybe you can can get better answers. I don't have one, so I wend for honest answer.


 ;D ;D ;D good one!
Indeed, prediction is worthless, stop listening to all these personalities, they are just as clueless like everybody!

As always it is an uncertain market for bitcoin. It is unpredictable especially with the times we are with the price and there is much confusion if we have reached the buttom or not and now Tesla selling some large amount of coins bringing more uncertain speculation and fear. The price action to me looks dull and I think that's because the sentiment is of different views for continuous bear or turn around for bull.

So far, there are even those who predict they will continue to fall until the price is deeper there even though it looks better now but still we can't rule out the worst possibility by always being careful and keeping us from being carried away in panic.
I personally think $17k will still have time to drop there and I still feel $13-$14k could still happen, but looking at it now it looks like maybe I should re-check the research I did.

I am happy that Bitcoin's performance has improved in the past week and hope that the price of Bitcoin will continue to climb even higher.
But I realize that the crypto market is still in a bear market,  meaning that there is still a possibility that the Bitcoin price will drop below the $20k
price again. It must be admitted that it is very difficult to predict the price of Bitcoin,  the most important thing is that we have to be patient holding
the Bitcoins we have, and never sell Bitcoin at a low price. Just stay focused on collecting as much Bitcoin as possible, and don't panic if it turns out
that Bitcoin is falling again in the near future. We must believe in the future of Bitcoin, we must remember Bitcoin has proven to be recovering
several times after experiencing very deep declines. So we must be able to control our emotions when investing in Bitcoin.

I also think so but the bear market is yet to end, so there is a possibility of some bottom prediction happening such as the one with $14k. I hope it won't happen since the current Bitcoin market sentiment is somehow positive after having a relief rally for six weeks.  I do hope this rally continues and turns into a positive sentiment that will trigger the transition to the BTC bull market.