Bitcoin Forum

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

It has always been impossible to accurately predict the market movements. For example it was expected to see a drop after the halving hype ended but I personally never expected a crash all the way down to $56.5k.
Is it over? Possibly, since over the past 3 days we've been seeing a reversal and setting green candles.

Dead cat bounce requires bitcoin to have died and be in a bear market where price continues going down over the long haul. This was just a correction after the halving hype big-rise.

If you zoom out and watch the chart over the past 5 months you can see we have been on the rise (starting from ~$38k) and we are heading to $70k again to test that resistance for the 4th time. However, this time it is not just halving hype that is the driving force, it is the halving itself (the fresh supply that was reduced by 50%) that lowered the supply and reduced the sell pressure.

Don't just go with the market or you'll lose all your assets. It's true that BTC has given so much profits into the previous bull run but it not the case always. You have to look into this real world that everyone one here is to make the profits so it will not be you always who'll make profits.

Just be careful while investing into the crypto world as the big investors can manipulate the market everytime they want to make them good profits.

$62,839 weekend open price. The problem is that it is almost impossible to predict the direction of the market accurately.
$63k is also still not completely a price that will last even though the market has been showing a green graph since yesterday.

A new ATH will happen and that's for sure. Again, we are not sure whether it will happen this month or next month or in 2025.
For holders, a certainty regarding the new ATH will be obtained even though I once had a thought that said a new ATH would occur next year.

Oh yeah. Just move this discussion topic to the speculation board.

We don't know if the retracement is over for now, but I do agree that it's good to see the price goes back to $63k after a dump to $57k. But that's how the market is, very volatile and most of the time when we expect that it will go on this path, suddenly it goes on the opposite direction. And maybe after 2 weeks from the block halving, we might have seen the glimpse of what the movement will be in the future. So yeah, we should be glad to see that it has bounce back, and hopefully during the time that it went down, majority here could have accumulate and take that opportunity to stash some Bitcoin at $57k'ish.

How?

Can you tell me how this person will lose all his assets because he go with the market? He is in Bitcoin, he will never lose anything until he decides to sell for a loss, some people bought the top in 2021 and they are still here today, holding, it is Bitcoin and it doesn't matter, Bitcoin will always be here to stay.

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OP all I can tell you is to have patience, everyone keeps saying things will be different this time but so far Bitcoin is doing the same thing it did in the last cycles, all you want is some good gains just like me, it will take time, for now do not believe what the news is saying, in fact stop reading them, just wait for a new ATH and take profit.

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I as a person have nothing to lose, I have most of my money in Bitcoin as I plan to make it my Bank account instead, the reason why most people panic about Bitcoin price action is the source of the money they invested, most of them can't see that money shrinked in value, you will be fine if you invest only what you can afford to lose..

It is very difficult whether the market will go up or down from the current position of the Bitcoin market. We have been seeing volatility in the Bitcoin market for quite some time now. We see Bitcoin markets ranging from $67k to $60k and $60k to $56k. Since we have completed the bitcoin halving and are slowly heading towards a bull market, I can predict that the market will gradually move upwards. Many predict that Bitcoin will be in the $100,000 range in 2024, so we can say that the market can go up from here.

You'll never know if the retracement is over or there will be some barrier that needs to be broken to say that the retracement is over. This is going to be a long overhaul for Bitcoin and everyone who's been on this market are patient to wait for that push that we're all waiting for. Give it time and react accordingly whether you're a seller or a buyer.

We don't know, it's always like this. It's speculative and everyone opinion that has some good backup analysis will convince you that it might create another ATH for this year or a dead cat bounce or any kind of analysis. But one thing is that we're all looking forward, and that's to see a new ATH.

Except future trading,  you can never loss your asset due to a massive decline even one of -99%
What falls is the value of the asset not the quantity you have.

https://www.talkimg.com/images/2024/05/04/rVyjd.jpeg
The good thing is Bitcoin covered the previous gap around $59K and has entered a bullish momentum in the one month chart
As long as it holds the circled portion ($56K)
We should be seeing a New ATH this month
This applies when you keep fundamental analysis constant though.
We can never accurately tell the future just speculate, so anything can happen
A news can change the direction.

I stopped accumulating around ever since
Waiting for some retracement and helped myself with some around the $57K range and I can assure you
Not regretting it and believe in this month.
The cost of mining a Bitcoin has increased to around $53K according to coindesk.

We now have fewer sellers than buyers
I think I read some miners are switching into AI's since their returns can't mitigate their expenses.
We go closer to oligopoly as years go by.

I would say we are still in the price correction phase. Hence if you are planning to sell or buy then you need to observe for a bit now. You need to understand that why this sudden rise and fall happen in the price of Bitcoin. This happens due to the traders increasing the demand to accumulate the coins. Due to the limited and fixed supply of Bitcoins, the price goes up when more buy orders are placed all over all the exchanges. Similarly the reverse also happens when more sell orders are placed. So if you are planning to buy, then buy the coins. These price ups and downs will be common for certain period of time now.

Such an impressive rebound from $53k to $63k clearly indicates that BTC-investors are inclined to buy this asset rather than sell, which is a good signal that bitcoin will not fall further. There were more people who retained sober thinking and didn't succumb to panic and bought cheaper BTC, which in turn kept it above the psychological level of $50k. I assume that the price will hang around at the current level with a slight gradual increase. I don’t think that the price will collapse again, but we will certainly see ATH, but not in the coming weeks (month), but later.

Move this topic to the "Speculation" section please.

The biggest problem is Grayscale which still has around 300K bitcoins left.

When they run out of BTC to sell the price can really start to take off again.      

Bitcoin is very unpredictable, so no one will be able to answer your question. Do your own research and make your own decisions instead of relying on other people's predictions because predictions are just predictions, there are no guarantees.

I can only tell you that the recent recovery can be attributed to the impact of the employment and unemployment index news released yesterday.
All predictions of a rate cut are becoming more positive as the unemployment index rises and that is why we see the entire financial market being positive since the news was released. But what will happen next no one knows, this may or may not be a trap.

I guess that the price drop was a trampoline of some sort for the price to go up even higher but I'm still too early to be talking about that though as it's still not that high, it's like the market has just recovered. To be honest though, in terms of expectations, probably lower it or expect the unexpected, being ready for all the things that might happen is the best thing to do, if the price drops again, be ready to buy more bitcoin than usual, if the price pumps then wait for it or take a little bit of profit to get something going with your life, but in all of the possible scenario in the bitcoin market, be it negative or positive, we shouldn't forget doing our DCA investment routine because that's the way the we grow our investments and that way also makes sure that we don't miss out no matter what happens and we risk too little when price dumps happen.

Bitcoin is volatile, and it's been volatile since its creation. It's a by-product of being unregulated and subject only to the free market. There's no need to give too much thought to daily or weekly Bitcoin's fluctuations, as they don't mean anything and major trends are only visible in hindsight anyway. I'd say that any price above $60k is certainly a good price, and, zooming out the price chart, it looks like we're still very close to the peak and there's no reason to get worried. The price is just 15% below the ATH, which is uncommon.

I think so but I also have a hunch that this might be the lowest price we see in awhile.
Though I am fairly confident that it will take quite a bit of time for a new ath to be set, I believe bitcoin is heading towards that.
Nope one of the indicators of a dead cat bounce is low trading volume which is not the case for bitcoin as we see. It was a temporary dip and those who were smart enough to take advantage of such time will surely reap some rewards in the coming months.

Actually, I knew the of Bitcoin price was not going to turn green immediately after the halving but I never knew it would take such a deep. So If anyone tells you that the retracement is over and we are heading to a new ATH, such a person is not being truthful, no one knows what's going to happen in the coming days. If the price retraces again you shouldn't panic, we are already in the post halving and the market will soon go bullish.

If the price declines again, consider me the happiest man alive. I feel like I was not able to completely take advantage of the dip. I wishI could have accumulated more and I could have done that if I had more money so hopefully I get to save more money just right before the market goes on quite a recline once again. I will then use the opportunity to buy some more bitcoin.

I think this is a speculation topic, so maybe you should move it there. Now back to the topic, there was no significant fall in the price of BTC, so we cannot talk about a dead cat bounce in this situation, this is just a correction in price after the halving, and to be fair a lot of bitcoiners were expecting it, though we could not have guessed exactly how much the price would fall.

The price has started showing signs of an uptrend and it is now above $60k again, if this correction phase is over which i think it is, then the price will continue to rise until we are above $70k, and if we break that resistance, then we are getting closer to ~ $100k.

After the Bitcoin halving we saw the Bitcoin price go down last week and saw it drop a bit below $57k. Over the past two days Bitcoin has started to rise again which I now see above $63k. The future of Bitcoin is very difficult to predict, although Bitcoin is currently trending upwards. If Bitcoin continues to slowly enter the bull market and can maintain the current price uptrend then I think Bitcoin will reach new highs very soon. If we think about the future and want to profit from Bitcoin then we must hold on to it while increasing our investment in Bitcoin.

Weekly still needs to be bought up more before we can say the retracment is over.

My serious reaction:

https://imgvb.com/images/2024/05/04/7d0e1a1b7ca81903825028610d739483.png

I mean, what? it's just $63K, Bitcoin was reach $73K and I didn't even sell any of my coins, so why I need to pay attention when the price is just $63K?

If you think Bitcoin price always increase then you're wrong, it could be a correction or dump again, no one knows. Short term rise isn't what I'm looking for, but I'm looking for huge spikes that will happen in the end of the year!

I don't know what a miner (with a SHA256 ASIC) switching to AI means :P
But it is normal to see some miners leave whenever the mining income goes down whether it is through halving where the block reward goes down or whether it is through a market crash (eg. price falling from $20k to $3k back in 2018) and their income goes down.
This process is not causing "oligopoly", there are still a lot of places around the world where the cost of mining is too low to become hard to mine even with price drops or reward cuts, etc. so mining remains spread and decentralized enough.

It is not possible to predict anything by looking at the market sentiment. Because the market movement can change at any time. But those who hold bitcoins have faith in bitcoins and depending on it they try to reach their goal. Bitcoin price reduce from $73k to $57k after new ATH. Some investors were quite disappointed by the price drop. But currently Bitcoin is back to previous levels. It is easy to understand that if there were no buyers, Bitcoin could have gone further down but instead it has gone up. I don't think it rising for temporarily. Since it has recovered quickly from the bottom position it will definitely be bullish. The positive attitude of investors forced  to the market to turn bullish.

well it means they start doing Pump and dump on other coins.
So the cost isn't constant but calculated based on locations
Well I guess I shouldn't be expecting the cost of electricity to be same across all countries.
Flawed thought that the cost for mining a BTC is quite similar across the globe.
This was helpful
Then the cost fluctuates and could even get lower than the current cost if more miners leave the network and vice versa.

If asked about the future of bitcoin, of course you want to increase, creating new ATH again continues to be profitable. But we never know the direction of bitcoin can only predict that in the future it will rise to $100K, you may be skeptical but for me it is optimistic because bitcoin can always repeat the same history which is the new ATH.

When? Time? The date and month never know even think this is even longer some argue at the end of the year yes that is their speculation about the future bitcoin.
Now bitcoin is only experiencing a longer correction that I think yes we only think no more than that, the future no one knows we only predict.

The interesting thing is that everyone claims they have never considered bitcoin as a get-rich-quick investment, but they always check the bitcoin price every day and every time there is a correction or slight increase, they start talking. People run everywhere to find reasons why prices fall and reasons why prices rise. It didn't stop there, when bitcoin started to increase in price, everyone was optimistic and set higher goals, but as soon as bitcoin corrected, the crowd began to panic and predicted that bitcoin would fall even deeper.

Bitcoin is a financial market and once it is a financial market, it will always fluctuate, if there is an increase, there will be a decrease. We cannot expect bitcoin to rise to $100K or $1M without any correction.
We are investing long-term in bitcoin but we are too sensitive to its short-term fluctuations, which is really not good for our investment.

Most Bitcoin price observers were speculating a price dip after the halving, but they never expected this much dip, especially since Bitcoin started being bullish after the ETF approval, now we're seeing a new price of over $63k today, perhaps it's a sign that price has started to rally upwards or it could just slightly dump again. I just choose not to worry or panic about this temporary pump and dump, because I know that we're definitely going to enter bull run from now to a couple of months time, so I'll just use this opportunity to accumulate more, before the inevitable ATH that we don't know when it'll happen.

Man there's no one can predict the potential price to reached by bitcoin. Its bit unexpected for bitcoin to reach recover as fast as that and that's really good sight to see since that mean there's more to go for bitcoin and maybe we can able to see some great price changes in upcoming months. Much better if you research and don't easily believe on other peoples opinion since they might be wrong on their speculation so we should not make those as a basis on what we should do in future.

But I'm expecting to see more from bitcoin since we maybe not done yet with bullish season. Also looking forward for bitcoin to reach another ATH since this could bring some good confidence for a lot of people that bearish season yet is not gonna happen yet.

Market seems to have shown real strength, after the dump to 56k it has rebounded to 64k already. This bull run is only just beginning, the market does not want to cascade downwards. Soon the effects of the halving will refoect in the price. I am feeling very bullish right now, exciting times.

As far as I know the future of bitcoin is not easy to predict but we assume that the bull run is not over yet and bitcoin will perform better in the coming times. Bitcoin can make its new ATH again, we just have to wait patiently. Bitcoin has a good outlook on the market and if you do market research you will understand that no other currency is doing as well as bitcoin.

True that he will never lose all his assets even if he sells at a loss, just for instance, he bought at $70k  and sell at $56k  when the price dip in fear of losing more, he still did not lose all assets, more or less he lost around 20% of his capital.  The only scenario where a Bitcoin holder lost all his asset value is when Bitcoin becomes worthless and that is unlikely to happen at the current state of the market.

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It won't hurt to know the news, in fact it is suggested to be updated on whatever investment we had.  We just need to have a deep knowledge of our investment and have faith in our decision of buying and holding BTC.  After all, the Bitcoin market even though is unpredictable, always rebounds and even records a new high every 4 years, in fact, it recorded a new ATH even before the halving event happened. 

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If we look at the history of the Bitoin market, it tends to transition into a bull run trend some months after the halving since it is one of the catalysts of the market to transition into a bull market.  So I think we can expect a gradual recovery of price and eventually a bull run that may record new ATH, lets just wait and see it happen.

The crypto market is currently not good, so whatever you want to do with crypto, especially Bitcoin, you need to think carefully, as much additional information as possible is really needed in the current situation.

You need to know that Bitcoin has now passed a new ATH and halving, so many experts and investors are having difficulty guessing the direction of Bitcoin's development at this time, but many people are speculating and predicting Bitcoin for some time may be one or the other the next two years there is no further movement after what has happened, as you mentioned $63k or $70k, overall the downward direction is most likely, but experts do not say how much.

Honestly, for me the best step to take right now is trading, I see many people don't think about the new ATH anymore, they take advantage and follow the current crypto market movements, to get good results in the crypto world.

Yea as ever its a great time for traders but not everyone has the knowledge or time
to make trades but buying the dips in a bull market should always pay off really.
Fortunately I was able to buy at just below $58k.

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The rise to $63k is just a sign to me that we are in the post halving bull market and
should be doing so for the next 10 to 12 months, that means rising....with pull
backs along the way just like we had recently. These are perfect conditions for traders.

No ones cannot tell accurately whether there’s more retracement coming or it ended up at $57k, but one thing is certain, the next couple of months will still be a roller coaster ride before we will hit with the new ATH price. That is already anticipated by majority, so all we have to do is to prepare ourselves.

However, it’s also good to speculate if the current price will follow an upward movement consistently, which means we will come to witness more than $70k this time as everyone is expected. That is, if price correction will not be worst this time, and things will work out according to plan.

I don't think the current price bounce is a dead bounce because it occurs because there are still people who are willing to buy at the current price or before the price returns to $60K. So I still believe that another ATH could happen again if the Bitcoin price continues to move upwards from now on because this is still not over. So you don't need to withdraw from Bitcoin if you still want to aim for more profits or more Bitcoin in order to keep it as an asset for the future. Now throw away your skepticism and continue to believe in Bitcoin because it will not disappoint you in the future.

When they sell all their assets, of course the price of bitcoin will have an impact on decreasing. of course everyone here is ready to accommodate if prices experience a big drop. I think They are not that stupid to sell all their bitcoin assets.


What you say is correct, we don't need to panic if we see prices going down. There are many elites out there who really believe in this one asset, and they continue to accumulate assets without looking at the price, why can't we? We have to look like the big guys out there who keep collecting bitcoins every month. Indeed, the current price seems very expensive for some people, but I don't think so, I will continue to accumulate as much as possible. I am sure I will reach a new ATH in the future.

I mean no one expected for bitcoin to set a new all time high a little before halving but it did so now honestly who knows what comes next? The only thing we should expect from the market is that it is truly unexpected.

Do not expect a specific thing and then get so anxious when it doesn’t happen. No could possibly predict the movement of bitcoin accurately.

no one can predict the direction of the market or the price of bitcoin in the future, therefore we have to be smart and clever in looking for information about bitcoin in order to minimize our losses, if you look at the history of the price of bitcoin from when it was first created until now the price is very far away, this one This means that Bitcoin is widely trusted by investors, where the price of Bitcoin tends to rise every year.

If we intend to invest in the long term, this might reduce our level of worry about Bitcoin itself, why is that? because from the start we intended to make a long-term investment, we may not see the price of bitcoin go up or down every day.

Price will fluctuate like this so think about your profit instead of examining the market for its past or future. In previous Halving every one was benefited but those people work according to their knowledge while currently people are using greed more than their knowledge and are facing troubles.

We have no knowledge about whether the correction ends or not and also we don't know if the price will touch another ATH or not in the current year but we are assuming that next year will show better than the current year as we will see boosting months in 2025.

Really? Are you excited by bitcoin being 10% down from its ATH? Is that it? I see it as a day like any other, but maybe for some people, specially those who bought in the recent dip at 58k it's something to celebrate.


Will that make you buy? Let's say it's over, will you go all in right now because of that? It might be over for now, but it doesn't mean you'll see a new ATH this year.
What if it's not? Will you sell all your bitcoin? What if it's not over, it will go down to 55k and then jump back to $70k? Will you catch that dip?
IMO both your answers to these questions are no. ;)

After the latest news related to the FED meeting, and having US elections by the end of the year, I guess it is quite likely to go up during the next months

Not so fast.
The volume and demand aren't that high to support a continuous price increase so I guess another correction may take place. Mid to high volatility can be observed in the market right now and I am choosing to wait for further market confirmation. If its market value will be able to break $64.7k today, then there's a chance for its price to continue reaching $70k mark once again. It is still too early for bullrun to happen because its just been weeks after the halving. Investors basically took profit of their holdings which triggered a deep decline on its market value. Chances are high that it will be able to recover but if it is surpassing the ATH this month, is still not possible at this moment.

it may seem like a quick bounce but we were actually going down for several weeks since 70k +. i couldn't really say we are going back up to $70k again. but that FED meeting does set up the stage because no hike was announced.

if we go straight to win big and break that resistance in 74k i guess the halving is taking effect already and it's breaking the golden ratio rule.  i like it when it hits those who expect a lower price and then suddenly leave them behind.  ;D

in my opinion the price could continue to rise up to $71,000 - $73,000 if there is no bad news like the bad news we had about the war in Iran and Israel and then the news came about the arrest of the founder of Binance which in a certain way way was no longer big news, but people still thought that he could reach some agreement that wouldn't lead to prison, so the news that he was sentenced to 4 months in prison made people get very scared and started to panic selling for a few days until they realize they have no reason to be worried

https://www.talkimg.com/images/2024/05/04/r1Nk8.png

looking at the daily chart, in my opinion the price is stagnant in that zone of 60,000$ - 73,000$, it may have dropped for a few short days below 60,000$, but it immediately recovered, but it will not go above 73,000$ anytime soon, it will remain in this zone of $60,000 - $73,000 for some time, if we had a scenario ready to break $73,000 we would be seeing the price rising very quickly, but what I am seeing is that it quickly recovered and is rising little by little and will remain stuck in this $60,000 - $73,000 zone for a long time

63k is only the first rung on the ladder and we're holding on with one hand still, its easy to slip at this point.  The negative decline remains intact until proven otherwise, we are above the weekly average so perhaps it is fair to say what now a new ATH but I think we have battles ahead still.

67.3k is the next point to overcome, reason being it is the lower high in a series of descent and we have to break the pattern to decide we are able to make a new one, a bullish move.  The most simple rule is we are set to repeat what we have already started so I only mean to assume that much.  

No one knows whether bitcoin will continue to rise or fall again, and expectations will vary depending on each investor.

Right now, what I'm seeing is a faction that is expecting bitcoin to continue to move higher, and it's not too difficult to predict that these people have bought bitcoin at a higher price or they've bought enough bitcoin for themselves. Meanwhile, one side still expects bitcoin to plummet to $40,000 again so they can accumulate a large amount of bitcoin at a cheaper price.

It can be seen that the bulls and bears are still fighting fiercely, which side you choose depends on your investment portfolio. For me, I expect bitcoin to continue its recovery and enter its biggest bull run ever.

Well we do not know where the price of Bitcoin is going to go to. Bitcoin price of 63k is not a price I did think it would be after the halving we just did.
But this is not something we need to be concerned for. I do think we are still going to see a big 'bull run' before the end of the year. I do not think we are going to see price of 100k for each Bitcoin but the new all time high I think will happen.

I would be with Iamcrypticguy on the outlook and generally of a view of the
'Glass half full". I would rather see the market rise than fall further from where it was.

It might be 10% down on the ATH but its now about 8% closer than it was before this
thread.


The previous halvings showed that directly after the event the market falls and then
recovers to break the ATH. I expected this to happen which I'm sure others did too.

we all woke up with this high price from bitcoin in which I believe something that we are not expecting
and yeah we are all excited .
not sure but Hoping ti is over because we have been seeing the market moving differently from
what we are expecting.

we are expecting this to happen this year but I don't think it will come any time soon?

i guess don't get too much hopes in this month probably until late third quarter of this year, we're still trying hard to keep the price above $60k even now.

the ETF approval of hongkong which deemed disappointing by some people despite instead the news of ETF hongkong released at the same time with price decling it doesn't mean that its a bad thing, instead it iwll helkp strengthen the foundation of BTC reaching the newer highs.
probably i'd just try to buy the dips at this price, no time better to invest than when there's sudden flash dump and also might as well try to wait until end of the year and see how much the price has changed.
i'm pretty confident with my portfolio right now, there's only one way for accumulation of wealth and that is buying bitcoin more and more.

It's really difficult to say it especially since we already fell below $60,000 recently and just bounced up to $65,000.

So for me, it's better to wait again. If we break $70,000. I can say we will able to create a new all-time high if below $60,000 first, that's difficult.