Bitcoin Forum

Is it truly a month of downturn, or is this perception based on anecdotal ?

It is happening like that already. But you do not need to be panic if it is bitcoin that you invested your money on and not those altcoins which are highly volatile. I do not think the bill run is over yet for bitcoin. But during long term bull run, there are times like this which could discourage some investors, especially the newbie investors. You do not need to panic and sell your coins. Just wait and let the price of bitcoin increase back. I am still expecting more all-time high.

You just have to look at Bitcoin's previous history,

https://www.talkimg.com/images/2024/06/12/crDQo.png

https://www.coinglass.com/today

Year 2020, halving year, you can see that in June, we have a slight decreased in price at around -3%.

So it might be history repeating itself again, for all we know. Nevertheless, you don't need to panic as you need to look at the long term, or at least at the end of this month as I think we might be in a big run in the last quarter of the year.

Another reason it could be dumb to invest in altcoins.... there's no guaranteed of their pump they can dump at any time and might never recover from the massive dump, bitcoin on the other hand has always recover besides we don't experience dump(IMV) I call it dip which only last for a short period time... the bull run still awaits as its too early to call the pump we experience earlier this year our bull run

No one know, in the previous month, many people keep saying to dump their coins since they believe in Sell in May and go away theory (https://medium.com/coinmonks/sell-in-may-and-go-away-true-or-false-for-crypto-fd9dbbd527b9), they also see a pattern that in May for every 3 years, the market is red (2015, 2018, 2021). But, this year the market prove it wrong, the market closed in green, so the past history didn't repeat.

Even market in June are mostly in green, it doesn't mean this month will green too.

https://i.postimg.cc/BZxvk4sf/BTCMAY.png

I have not really check the historical records of previous years on how the all the coins normally respond during the month of June though I have heard from people that most coins normally face some drastic fall and it could be possible but however nobody knows if this year will be like other years when it was maintaining that direction because since we enter the month of June nothing negative has really happen on the crypto prices.

If so, December 2024 will be the peak of the increase. This only refers to my experience when following the previous BTC price journey and all coins also rose and reached a new ATH again after a few months when the market was slammed again.

 

You may panic when yesterday bitcoin slumped to $66K and now back to almost $70K meaning there is nothing to worry about now bitcoin is easy to bounce, I just believe this is for the long term not to worry about.

In June 2022 maybe it was in the bearish phase of a high decline but now it's a little different because it has passed the halving meaning there is a possibility of an increase even though history cannot be 100% accurate it's just that we don't need to worry about bitcoin that's all.

If you ask about the current month then I predict that bitcoin will not experience a sharp enough decline it will remain more stable at $70K.

June is still not over and some time ago Bitcoin did dump to the price of $66k, and I think that is also natural, because some of the previous gains and no corrections are needed.

This is a fairly normal situation and needed by the market, but the influence of monetary policy from the Fed is also a significant influence.

https://www.talkimg.com/images/2024/06/12/cLUBZ.png
And now look at how the Pullback is done by Bitcoin, It has returned to the price of $69,999 and is almost breaking through $70k,
I am sure if the $70k Resistance is back in the Bitcoin break it will reach an even higher price in the next few days.

So there is no need to panic about the decline, it is an opportunity to buy and add to the assets of Bitcoin and some of the other top altcoins.

I'm sure anyone in crypto will notice the market is very different after the investment companies started coming. We can see the drop in prices a few days ago and then suddenly jump back up quickly like traders are just left waiting for the bottom and then suddenly they are left holding their stablecoins lol

It's already a weird market even before they come into ETF but this time, it's much weirder and worse for those who panic in the bloodbath days. It can really frustrate you when you expect bull run to come and you are not stacking sats while those institutions are juicing out the market.

Im not really that a fan on trying to look with these charts or tables but for the sake on trying out to make some comparison then its still considerable on having such thing. Its not shocking that people
do freak out on the moment that they are seeing 3-5% decrease in price on which making up questions on the moment that the market would be having that price decrease without even trying out to realize
that this is really just that like an ordinary day that we do have here on this space. Just put up into our minds that what happened in the past doesnt mean that it would be happening in the future
but doesnt mean that it would really be that irrelevant. We can always make up that comparison and at the moment that we've seen those numbers whether increasing or decreasing then it do really
shows generally that everything could really be that so random and there's no way for us to tell on where it would be heading next.

It's your personal perception and I had similar perception about the month of December until it was shattered this time, As the basic principles of crypto we can never predict anything and expect it to be always correct as it's highly volatile and doesn't take much time for things to turn around, hence there is nothing static here rather it's all dynamic.

It used to be sell in May, go away... now it's June?

Notice how people's sentiment goes up and down all the time. Beginning of May was full of fear, now people are starting to talk about June being bad, when it's really great if you look month by month.
Check it monthly:
March was great
April was trending downwards, but we stayed in the 60-70k range.
May, despite weak start was mainly trending up.
June seems to be boring, mostly within a small 65-71k range.

Bitcoin is looking pretty strong, especially since we haven't seen any post halving bull runs yet. I don't care if it tests this or that line next week, all that matters is that by the end of the year we'll have a new ATH. I'm sure of it.

If you see it that way, maybe but it could only be momentarily as we may witness bitcoin the next days start to surge high again. There might be dump or price crash at the moment but know that bitcoin price is still as volatile as it is, so we don’t have to worry and turn panicking because the price today might be too far different the next day. Patience is the key. If you can’t do that, you will definitely lose in this kind of game.

I won't say this is a downtrend month as we are still in the 2nd week, yup but at the same time as you can see there's a sideways movement so in my view this month with the coming up month as well is gonna be boring for investors, especially for those who already filled their bags and waiting for the moment of truth, but there are some silly crashes are expected with fast recoveries as you can see the last 24 hours behavior in the market. So you can say that in the end maybe we are going close in red.

This wont matter a lot for the strong hands and the regular accumulators, and the traders should take a break haha, for a while only.

Based on the historical data of the market, it's logical to say that June is that time of the month where the price drop is consistent but I'm not worried about any of that, pretty sure that it's an opportunity to many of us to buy bitcoin at a lower price, I mean when you look at the current price of bitcoin, you'd always be wishing for it to go down everyday because if you really wanted to buy bitcoin, you'd want the best value for your investment and people don't see it that way when the market is down especially the newbies, they almost always panic.

Dumping is normal for some time this June, but if there is no long-term dumping, it cannot be said to be a recession month. The Bitcoin market in particular though was pumping at the beginning of June and has been dumping again for the last two or three days, and after this dumping the price of Bitcoin has recovered and pumped again. So it is never possible to say definitively that a bear market is in progress, but it will definitely be a bull run. That's why I think it's normal for the Bitcoin market to go up from the current time.

To be honest, I also noticed that this market isn’t easy to please now and expect a massive price increase.  It may even turn to its opposite if you keep on longing to see a significant price increase. But I’ve come to understand that maybe this is probably the current trend of this market these days, one day it will go up, the next day it will drop again, and price may varies one day or another.

However, this remains the thrill in the market that keeps the newcomers interest to get in. So while this could be annoying for some, but for those who understand how this market moves, this is quite challenging for us.

It's really hard to quantify this market, I mean with so many players in the loop right now, whales, institutions, retail investors, very difficult to see where the price and although we can only have the old data to look at and then compare and see how it goes for this month.

Regardless though of the movement for this month, I will remain positive in the long term. And everyone should be and not just really look at the daily or monthly charts as this market is very volatile. Look at what's going to happen next year and for sure everyone will be happy that time.

Why not? It's good to look at some old logs and then we can have our own conclusion. Of course it might not be accurate, but with Bitcoin very young data, at this point we can somewhat deduce what could have been happening in the past could reflect it in the future.

I'm just showing the data though, it could be relevant or irrelevant for some. But I do think that those who love TA could go back to it's historical logs and see and maybe plot their predictions on the same period on the last post halving in 2020.

Hedge funds are just building short positions on futures. It’s an understandable way to make income. At some point it will become a positive instead of downward pressure on the market. I think the downside pressure will likely continue through October, but I expect November to be the kickoff to the next bubble.

I don't really think so the movement of Bitcoin or crypto at Large is always volatile going upwards and downward it may be dip today the next day it pump up we can't really predict, but those that invested into Bitcoin shouldn't panic because Bitcoin investment is not like other coin in the Crypto market like shitcoins which is not reliable. For me the dip should be an opportunity for investors to accumulate more Bitcoin instead of panicking and stack enough Bitcoin in their bag and continue to hodl.

month of downturn ? where have you been mate ?  because I believe that there are no even month for that downturn because market will only act depending in the response of the investors here in market so if ever there are downing moment then that is not permanent and may change in the coming months .
so best to take advantage of buying when the month is dumping and keep your holding till the market recovers.

yeah people belief too much on some random sayings and the previous year chart shows that may or june is the month of downtrend doesn't mean it will happen when overall market greet index is at high and also we are at bullish. so that is anecdotal at best.
currently there's downturn because we've reached $73k not too long ago it does make sense for market to go down a little but there are many speculators out there saying that if bitcoin somehow cross $72k it will means another big rally coming for us which you shouldn't never take it as a financial advice but quite optimistic speculation coming from people probably gonna be self fulfilling prophecy.

so far market is well, there might be another wave of correction ahead, definitely best chance for people that have been waiting to invest, bad for people that invested in peak, but regardless still a healthy market.
even if somehow this month around goes full on corrections after correction doesn't mean we are at bearish as long as bitcoin still stays on the trajectory of going $100k.

remember we're probably still too early to call it peak of this bullrun, one thing that I really trust about past chart data is that the overall bitcoin growth over decades has been consistently linear.

No one can say that.  No one in history will be able to give an exact solution. Just watch the price of Bitcoin go from week to week, going up a bit and going down a bit. Most meme coins and alt coins start preparing for a run when the price of Bitcoin starts to go up. Again, when the price of Bitcoin goes down, the value of memes, alt coins, goes down. One of the biggest things I think no one knew beforehand was how the value of the coins would go this year, many assumed it would follow the same trend as years past. However, this June market, I personally can only guess that there will be a small improvement from the current price and some small correction may be a situation.

I have no reason yet to think the market will dump but we have no escape from that situation knowing the the current situation is not the same as before. Therefore, it is still a need for us to prepare and take action depending on the actual condition, not because we speculate.

For several weeks, the price of bitcoin was still in the range of $64k - below $70k, it never looked bad, isn't it? That is why I still need to urge myself to feel worried and think we are going down because the market still doing great unless the price of bitcoin dump below $60k. But if it is still in the range, I remain positive and hopeful that one day, it surpass $70k and reach another ATH.

Acceptable or not, in the early of June the cryptocurrency market get downtrend and this middle week bitcoin get crash few percent make many altcoin decreasing more than 10%.
Need more patience in this month after bitcoin failure break out above $72k and make bitcoin getting down drastically under $66k yesterday price, left two weeks for the month of June and waiting what the progress in the next few weeks later will bitcoin get increasing or decreasing price make some altcoin have downtrend moment.

I hold some altcoin recently after yesterday price decreasing and expected take profit as soon possible without waiting until the end of this month, its difficult looking portfolio assets get downtrend day by day and difficult some top altcoin break to higher price following with bitcoin still on downtrend moment.

I would say that if we look at the technical analysis, it is not showing any signs at all. I am not saying it is not showing down or up, I am saying it shows absolutely nothing, by TA we could say that it will stay like this for a long time. I do not believe that by the way, I am just saying most TA indicators show that it will not move at all for a while, probably like all June, but also we have seen indicators being wrong plenty of times before and sudden movements could very well happen.

I have not seen plenty of months where the price did not move at all, that's rare, even if not something big, price always moves a bit, even if it goes back to what it was it still moves a lot. Which is why I think we should be careful with what we have, and not expect silence all month.

Yes, if you are really that tending to see or look with technical analysis approach then its true that you cant be able to see something that it is really that leading down or having those potential corrections or downturn,
Why people do always having that kind of impressions at the moment that the price goes down and ended up on having assumptions that it would really be going down further? Yes, we can be able to see those histories
in past years about its movement and tally it out and making up some comparison but still it wont really be that enough for us to tell on what would be the next movement on the upcoming months or years to come.
This is why it is really that hard to predict on where it would be going. This is why it would really be better that you should really be versatile on whatever market condition that you would be able to encounter.

We do know that in every month on which we dont know on what are the fundamentals that could enclosed to it. Market could move out unexpectedly whether there are events
or not in the market on which it could give out that significant movement or not. So it would really vary.

I believe it’s more on your own observation and perception towards the market, there are months that it turn our bullish as much as the bearish months as well. However, I honestly don’t see this month as a time of downturn but most likely just some price correction appears inevitably. After that, we can anticipate to see bitcoin price increasing again, due to its volatility that makes its price hard to predict.

You can just simply say yes by looking at the price trend now, maybe this is a preparation for the ghost month which usually a red market every year. Though, better to take this as an opportunity to accumulate good project because bull trend is still here and there’s still a big chance to hit a new peak this year, its just a matter of time and a good hype, be more patience.

We're already halfway through this month and based on the images given, it's true that there's something reliance on the history for every year of this month.

Well, holders are not gonna mind that much and we're going to keep on holding this time. And use that discouragement that we're not yet on the peak and everyone still have got time to accumulate for more.

So, use this downtime of the market and we're looking at it right at $66k.

Thank you for the pictorial explanation that made it easier for all to see. I have always had the feeling that certain months do have their market sentiment, as we witnessed in the last quarters of last year where is is believed that Bitcoin performs better than the early part of the year. Nevertheless, there is no need of being worried for those whose intention is to hold longer because I do not see the retracement as something that will last long and even if it does, it is still a beautiful opportunity to buy more Bitcoin. I know that as we enter the second half of this year, the sentiment will drastically change just as we had in 2020.

No one can say whether it is a bearish month or not predicting the future of the crypto market is difficult. Sometimes it is seen that the crypto market goes up through the dumping. This is the best time to hold the coins if they are dumping. If the movement of the market can be held by extremely unstable hold, the currencies can go up in the interval of months and days.

I don't think bitcoin falling from $72k to $66k is a significant correction and should cause us to panic.
I think those who are feeling discouraged, frustrated and think things are getting worse are the ones who are investing in altcoins instead of bitcoin. It's easy to see bitcoin hasn't dropped too much in recent days, but many altcoins are seeing serious dumping, some even going back to prices when bitcoin was priced at $30k last year.
I found this year to be a difficult year for the altcoin market as everything revolved around bitcoin while everyone was investing in altcoins.
I think OP is also investing more in altcoins instead of bitcoin because like I said, bitcoin is not falling too much and not scary enough to be pessimistic.

Bitcoin is now down but it does not mean that oy will not bounce back, the bull run is not yet finished so it is expected that btc will turn back to bull, and we don't need to be panic because being panic will not help us earn , if we don't control our emotion we will surely lose, if you invested on some altcoins and now it is down because it is being affected of the bitcoin price that drop them dont be panic because when btc rise the coin will also rise.

Well, if bitcoin price consistently drop in the next few days, I would admit then that we are now at a month of downturn but that does not mean that it’s going to be bloody for the rest of the year. Personally, btc price at the moment is never really that low, it’s still $60k above so there’s always a lot of chances that it will continue to cross $70k and above, until we’ll head into its newest all time high for this year.

However, whatever it is, hodling is the best option. We can’t dare to sell our coins while seeing its value plummeting, most likely we need to hold it more and be more patient not to be bothered by the sudden price downturn.

In this case, it is no longer a public secret that increases or decreases are something that normally happens in the investment world with fluctuating prices on the market. If there is a downturn, you should not panic as you mentioned above, panic will make you lose a lot of money there. It's best to provide cold ammunition (money) and continue to accumulate every time a downturn occurs, this is a golden opportunity for us to get a cheaper price than before. Yes, of course, if Bitcoin experiences a fairly rapid increase, alt coins will automatically also be affected by the increase.

Even in the case of no more money to continue accumulating every time a downturn occurs, we just need to sit still and do nothing. As long as we haven't sold our bitcoins we won't lose money, the downturn is temporary and it will always recover from it, just remember that 1BTC=1BTC.

But I think if someone is investing in altcoins, they should be careful and reevaluate their portfolio, because not all altcoins will recover if bitcoin recovers. Investing in altcoins can bring better profits than bitcoin but will also have more risk, we should be aware of that and have a more reasonable investment plan.

The cycle continues actually. Cypto market may become boring now. New events can definitely grab attention though.

The market is highly volatile so if sometimes the market is not in a good condition then it does not mean that the market is going to collapse forever but sometimes there will be a pump and sometimes there will be a dump but one mistake which newbies are often doing is that they get afraid of market dumps and suddenly change their mind so they sell with loss.

Some altcoins are risky so if their price reduces then one can sell it to minimize the further loss but it should not be done with Bitcoin investment because Bitcoin is the only currency and investment tool which cannot give you loss until you lose your hope and sell with panic. Holding Bitcoin without keeping any negative thoughts in mind will help you to continue holding at least for one cycle which consists of four years.

It is very hard to predict month by month as how the bitcoin price will behave. We cannot say that June will be a month where bitcoin price will dump because the price even if it dumps throughout this month, can also pump back by the end of the month. This is true for every month. The only think we can predcit is that over the next few months, the bitcoin will be in a bullish trend.



I think all the altcoins are dependent on the movement of bitcoin. If bitcoin dumps, even the best of the best altcoin will take a hit and dump badly. Similarly, a little pump in bitcoin price will make altcoin prices rise high. If anyone is doing investments in altcoisn, they should need to know that Bitcoin is the king of the crypto market and all altcoins movement direclty depends on bitcoin.

To clarify, June is as much a red month as May. Historically there's almost no difference.
Greed index is just a random score that checks social media posts and other random stuff. When bitcoin is in a bear market it always shows fear. It used to show fear when bitcoin was -30% and -50% which is a big deal. If you saw the indicator at -30 you'd say there's not much to go down since it's fear already, then it would go to 50% and you'd say the same there's not much left, and then ift would go another 10% down and the indicator would also show greed, like it used to for the past year. :D Don't try to time your trades with fear indicator or you won't do good.
73k not long ago? Dude, that was in March! ;D

But if you look at the same table you will see that previously we had a 3 consecutive red month in May, yet we went green this year, so....
I've never changed my opinion that past data is meaningless on a small sample, and the more we add on top of those early years the more the randomness increases, plus we have events that will not repeat in the future or will not do it in the same month, like covid or the war in Ukraine or things that are definitely one time events like ETF approvals.

I think that to date Bitcoin has already broken all the patterns, including the no ATH before a cycle, no going below the previous ATH, no double ATH in a cycle, and a hundred more, it's about time we let go of the past and put more of an accent on what is expected in future.

I agree with your opinion - but how can we forget everything considering that there are still many people who really use the past as a benchmark in predicting the future?

As far as I know - the current optimism of holder and investor is because they have learned from past history, but it is perhaps somewhat realistic that now that pattern has been broken. The same pattern may or may not be repeated at all - but there are many other factors that support the same pattern repeating itself considering that we are pass the second month after the halving ^{[third month on going].} High flows in Spot ETF are likely to be expected throughout the year - but lower interest rates are certainly hopes.

It certainly seems that may be the case presently doesn’t it. There seems to be insufficient buying interest to sustain any price above $70,000. We’re now at $65,000 & I’m not confident that $60,000 is guaranteed support either. I am reading lots about miners selling which could be true because Spot ETFs are doing well & we are after the halving now so price should go up soon. We need to see a bottom formed quickly though, it just keeps bleeding.

Until 2018 it's rather a red month indeed but before this year it use to be a green months during several years in a row, so on the overall we can't conclude easily IMO. But if we just look at the 6 last years we can expect a negative month indeed. And since the BTC ETF spot hype has ended along with the halving one, I think people will start to look for other investments or will need(or will just want) to take the profits they've made thnaks to the past bull run. So for me it will be a red month in the end.

Simple, you stop trying to predict the future based on past events and understand the difference between things like stocks that can only float this much, that have a basis on demand and performance of a company, and Bitcoin that started from scratch and is a different league altogether! If we go only with TA that for a century has been dedicated to classical assets on things that is completely different and a first in history is a bullet poof ay to be more wrong and right.

Also, as I kept saying for two years, history has a habit of pushing completely new things, the covid crisis showed us all how all models flopped when oil went into negative, it was one funny sight at that moment as indicators were running errors because of that.


But you see, again those patterns you mentioned are things that were not experienced before, we anticipate ETH inflows but we have no data on how inflows work long-term, we have no data on how Bitcoin works on lowered interest rates, just as we had no idea on how it did on rising ones.

I'm not saying we're not going to see a price rise, I'm actually betting on having one but at the same time I won't say we're going to experience this because charts show it will.

My evaluation for June thus far is a definite decline is in progress, thats not to say it has to continue but going on the trend so far seems to give reason for caution and closer inspection.    We are above the 50 day average but only just and BTC is trying to close below that measure a few times now, so Im waiting now to see if it that breach will occur. 

Important note for moving averages is they are not support they are only indicators or representation of volume as inertia roughly for that medium time frame.  So people will buy at the 50ma but it should be taken as momentary not actual volume support like certain areas can be built up with.

We will just take it that this entire month of June is really always as it is even for the past years. The month of June is likely always the reddish month of the year.

We're not worried at all for this month. Holders won't be moved, we've been holding for years and just because this month is quite slow, we're going to be moved? nah.

We're already half of this month and the best is yet to come. So for the holders, newbies and everyone, no need to panic and just wait for the upcoming months.

Most people are trying to timing the market, instead of buy and forget.

The ATH in the two previous halving reached in Q4, but this halving the ATH hit in Q1.

May in the two previous halving are in red, but this halving the market in May is green.

Now, people speculated Q3 is the best time to buy Bitcoin since the two previous halving Q2 correction happened.

What if I speculate Bitcoin will reach the peak in Q3, then Q4 and next year we will see bear season...

I think down trend can happen every time, and it coincidentally happen in june that is why most of us think that june is a month of downturn, but if we look at the price history there are also a down trend on some other months not only in June so i think it is just a coincidence not every month of june has a downtrend.

miners selling doesn't really mean anything other than maybe they are just selling to cover operational costs, some news i've read earlier saying that some miner do exactly that for the sake of keeping their bitcoin possession not because they want to dump the market because as you know running mining farm like that i expect requires millions of dollars a year just for the cost of electricity alone so thats understandable doesn't really mean its bearish season starting.
anyway the interest does still lacking but BTC ETF inflow as well as the trading volume also still quite high in my opinion, the thing about sufficient buying interest is just psychological in my opinion, had bitcoin reached $100k earlier thisy ear and dumps to $90k, people would think current price which is floating around $60k as rather cheap, its just matter of the market greed.

i'm just expecting that there may be new narrative going after the approval of ETF, one that could really carry the entire market to another level of bitcoin price probably around $100k, probably with even more ETF approval coming from another big countries.

I would consider that they are doing it because they think that June (or summer) will just be not that great since people are spending money on mojitos and beach clubs, and not buying more. They will turn that around when September comes, they always do.

Because people ended up coming back, will put their money back into it, and get ready for another summer for a while. This is one of the reasons why we usually go up during Q4, and I think they will do that. Just because they are shorting doesn't mean we will go down on the summer, I am just trying to see from their point and I think it will be quite good and I think they will definitely end up with something good one way or another, which is why I think we should respect their decision.

Sentiments such as this could really be that precise or not but basing up into those possible actions that investors would really be doing then we could really be able to assume but if we do really tend to look into
previous years conditions whereas Q4 didnt really have that much of a movement or simply it didnt really get in line with the sentiment that mentioned above that Q4 would really be indeed an increasing momentum or will really be the start of the bubble but since we are on this year which halving event happened already then it would really be that somewhat safe to say that we would really be breaking new higher highs
until the bull run even but the main question on this one is on WHEN? Downturn or not, then there's no way on knowing on what it would really be because movement could really be that totally opposite on what we do have experienced on the past years on which there would really be no assurance that it would really be just that the same. So back up plans will really be always needed just in case that there would really be
those rejections or even just that having that sideways movement of the price in the market.

Singling out just one month to determine if you are going to be making profit is not a good way of investing or looking at the market because what matters at the end of the day is if you made profits or not when you are at the end of your investment and not if you made profits in this month or not. Different months always come with a different market reaction each year because the market is growing and can not have the same feedback every month. June could be a good month for profit in Bitcoin last year but this year might be different and that should be fine because what matters is the end feedback of your investments. The market is experiencing a correction at the moment but it should not be seen as a reason to be panicking but an opportunity to be buying.

Bearish and bullish seasons are not predicted then when they will start and when they will end even though one cannot predict the coming hour that what will happen in that. Currently the market has dropped a little bit which means that after this drop there is a hope that we will see a rise and if someone is astonished about the current situation then there is no need for it but one thing is needed here which is to make investment now and hold it longer or up to a target value.

The number of buyers will surely increase so if buyers make more purchases of Bitcoin and hold it longer without selling it then the dump will not be so deep and very easily it will turn greener so I think after a correction the market will again attain a huge price due to huge demand for Bitcoin.

Not every time but from time to time only. Both words might look the same but I think the other is not very frequent, and that is how I can describe or see this market, based on my activity here. If people can see it either of them, then they won't feel that it is coincident anymore because it was only normal.

I think in last days or weeks in the same month of June, there are increases that happened in this market, so I won't say that it is a downtrend month but the month is not yet finished, so it's also hard for me to say by now that it is a good and uptrend month, or even a normal month. Let us only see what this month has in store for us. Whatever it is, I'm sure that a good user can utilize it very well.

We are in the middle of June right now and the price hasn't stopped making lows, so maybe you could be correct that this month of June is assumably a downturn month and what we should rather see from it should be an opportunity to buy the dip as the price gets more down which am convinced won't go below 61k$ before it starts pull back high anytime soon. No need to get scared about the downturn, it's an opportunity to buy buy and buy more as one can.

This is something that you should really be baring up into your mind on which you should really be that expecting that when it comes to price movement then this market would really be just only having two possible ways or path that could be able to take on which it would really be neither going down or up and this is something that you should really be getting that prepared into. Downturn or not then you should be that prepared on whatever the actions you would really be taking specially into those people who are really that making some short trades on which they would really be that keen when it comes to positioning.

If you are really just that new into this market then you would really be definitely get shocked ito the moment that you are really that expecting for positive results but ending up on
having that downtrurn event into this market on which we do know that it is really just thata typical movement but since you are expecting something positive then
you would really be that definitely having that kind of disappointment.

Just as they say history do repeat itself but I say not all the time, the last quarter of every halving year are mostly bullish (green) and December is always at the peak of it until the start of a new year. Tho current halving is more like taking different trends than we use to have and could break the last quarter jinx by been bearish.

But if we go by the momentum on the current trend which has been way two bullish with only the month of may closing on a bearish momentum, which is mostly unusual because some of the months before halving months are usually bearish but not this period. I am though optimistic about a bullish momentum Base on the fundamentals like the reduction of inflation base on CPI data. With also the ETF hype it should be a bullish momentum

That is the key here, a downward movement of the market should not be seen with negative eyes and instead we must think about it as an opportunity, we know that the price of bitcoin will do well during the next months or years, so getting scared over a small correction makes no sense.

So what we must do is to take advantage of the current price of bitcoin, since at some point the price will recover and this will allow you to make some easy profits.

It makes sense, some people are taking this as a good opportunity because they will have a chance to buy cheaper, because sure when we touched above $70,000 recently, a lot of people said "If Bitcoin drops below $67,000" now, it's their chance to buy cheaper Bitcoins.

We still have half a month to go if OP is really correct about this month.

According to monthly return data, June is not green but red. The image can be seen in one of the posts showing it.

For those who stay in the long term, this downturn will be used to add volume to the wallet. They will always be happy with market conditions experiencing a decline like this. I can say that people who buy Bitcoin in this month not only for the long term can get good returns when the price moves upwards again.

To answer OP there is a downtrend in play right now and significantly today we pass the 50 day average.   As I count Monday as a pivotal opening to the week, possibly even indicating likely progress for the rest of the week then this negative open does not sound well.

https://talkimg.com/images/2024/06/17/c0xno.png

Should we recover 66k later today or tomorrow and build from there it would be good to break this idea of a down trend.   For now I have to assume we can easily progress to 58k as the lower boundary.

It is never understood when the crypto market changes its pace and nature. It was thought that the market might move better in June than the previous month but it didn't happen rather the market lost its value. The prices of many coins have dropped significantly. In this situation, some are considering this bearish situation as an opportunity, while many are getting disappointed. For those who are disappointed, just say that this is not permanent so wait patiently. The market is down in June but may turn up again in July. Those who are observing the market situation are taking advantage of this bearishness and making their holding hands stronger.

Who said this month the price of Bitcoin will decline? I think if we look at the recent situation we have not yet come to a conclusion whether bullish or bearish. It looks like we won't get this answer in a short time, maybe next month or at most August we will get the answer. Personally I hope that after this sideway condition ends, the price of Bitcoin will become bullish and meet the hopes of many people, namely reaching $100k.

With speculation like that done by traders, you can at least get an idea of ​​market conditions even though it is uncertain when the market will move up and when it will move down.
We don't bother too much with those who are disappointed with the market situation they are experiencing because they still have other work to do.

According to my observations, market traffic is now boring for traders who choose daily. They will not make a profit within 24 hours as usual. For those who choose the long term, this situation is very encouraging. Whenever the forecast goes up it's not a problem, why? I saw on Binance that I often get buy requests above 10 BTC. This may be done for long-term purposes by investors who expect large returns.

Well, whether it's green or red, the important thing is we don't end up panicking and sell the coins at a lower price since that would definitely put us in the losing end. But instead, buying a lot more when there is good opportunity to buy that would add additional volume to our bitcoin.

Furthermore, if a bitcoin downturn will be more seen this month, so what? As long as we are aware on what to do in every price movement in the market, then there won't be any problem that will arise.

 Selling during a downturn can lead to losses, and buying more during that time can be a good idea. But I think June might be different. With the way the economy is going, people are looking for safe places to put their money.

Bitcoin could benefit from this. While the market might go down, I think June could surprise us and go up instead. Remember, the crypto market is always changing, and June could be a month of unexpected growth.

What you say is absolutely correct, whether the market is experiencing a decline or an increase, of course we must not be careless and panic so that we make decisions that are detrimental to ourselves in investing and we must stick to the original plan that we had. made. before deciding to invest. If we can take advantage of market conditions that are experiencing a decline to buy more than usual, of course this will be easy for those with large capital and for some people who only have small capital, of course they can buy with that amount. we can afford it but can still make a profit when prices rise.

I am not at all happy to reveal that the value of the assets I hold has fallen by 8% in the last month. This change indicates that there is a downtrend ongoing during that time frame, but it is definitely not a bad thing from an opportunity perspective. When the price drops lower, accumulation opportunities open up and this is an opportunity for anyone who is ready to add bitcoin to their portfolio.

For the last 30 days, my portfolio has been in the red zone. This is on the one hand unpleasant, in fact I am not sure if the market will recover towards the end of June. However, there is certainly a big hope for market recovery, this could happen at any time, although I actually estimate it at the beginning of July.

But in my opinion this is a natural thing to happen in the market when a decline occurs because indeed this market in Q1 to mid Q2 experienced a pretty good increase and significantly also bitcoin continues to dominate the market, so if there is a correction is a natural thing, there is nothing wrong with that although indeed when buying at the top price it is very painful and 8% is a hefty amount, but this is still better than the previous cycle which experienced a much sharper decline.

Supposedly a drop like that is the perfect time to resume DCA, but seeing as we may be down to $62k-$60k, we can cast a net to make the worst happen and this negative sentiment widespread.

I think at the beginning of July we will have another growth where the US might lower its interest rates and that is good news for markets like Bitcoin, it will get even better potential if interest rates are lowered, because it is not interesting anymore, believe me the end of the year maybe we will open a treasure chest.

And we only had just a week before the end of the month and there are no uptick unfortunately as we go down to $64k-$65k as of the moment. Not sure if there will be some news that will push the market in this week or so. Nevertheless, as what history tells us, month of June is not good after the halving.

But we shouldn't panic, we still have the second half of the year to contend, and usually during this time, or at least in the last quarter of the year, we might see some good movement. And just imagine though if we are going to close this year at least $100k, that will be great to all of us.

Price drops in quite small sizes also need to be taken into account and it would not be wrong if it were to be considered as a price drop that has ever occurred in the market as seen by many people this month. Currently the Bitcoin price is still very close to $65K and not too far from the $70K level, which means Bitcoin could make a new price this year with an increase to $75K after this price correction period is over. Because now Bitcoin's price decline doesn't look so sharp and it still has good movements in the market.

It did reached down to $63k yesterday. And this really concludes like the month of June seems to be a ghost month.

Yes, there is no need to panic.

Those that have panicked needs to rebalance their reactions. If they're long term, there is no need for them to be too negative at all.

As you believe in the long term, you should be buying some more while we're on this kind of month.

Initially, I thought the month of June would be different from what we experienced in April and May, and indeed, it started on the right footing, but with time, it gave up to the pressure of the Bears which are now becoming more dangerous by the day. Bitcoin is facing a lot of liquidity issues now and is bringing back the FUD to the market, no more FOMO for any reason the way we experienced before. Nevertheless, traders are now getting smarter also, this is in cutting the slice of the cake from the bottom when it has freshly hit the low.

I have done this for almost 2 weeks now and it has been so profitable instead of relying alone on some sustainable bullish movements that will not happen for now. This is expected to continue for a while even as the monthly bias is extremely bearish, it will take time before the market can overcome such a condition. Bitcoin is below many resistance levels now and I believe it should breach above $66,425 and have a daily close above it before any bullish hope can ever be rekindled as far as I am concerned.

Would have easily thrown this outside the window thinking it's just a coincidence, but we have the Data to support this argument and am wondering what's behind all this... could it be because it's summer in parts of the world that have most Bitcoiners and most holders are cashing out to spend some of their crypto holdings now ???
Maybe my conspiracy  theory could be that someone is engineering a move to buy cheap coins by trying to convince people that markets are bearish and when the masses start to sell then the whales excute their buys to secure more cheap coins for their stash ... possibilities are endless.

Definitely a downturn, nothing to dispute that view until we break past the weekly average or about 66k today.   Its hardly a drastic pullback but its been consistently down since failing to challenge 72k.    Even though we move just 10k or less that used to be a large amount in BTC, its only because the gains have been so great in the larger picture that this now seems sideways.

72k area was a double top, a twin peak mountain top that we fell down from.  Its now only completing that formation if we meet 61k and cannot bounce at all.   Further to that is 58k to fully form a double top and at this point I do expect a great burden and possible larger selling to come through.  What news might mirror that graph formation I dont know but its something to watch and be aware of.    None of that occurs in June imo.

This June it is true that there is only a week left, but we see that the movement that occurs tends to decrease, but it is still in a range that is still good and not like the past, and it has dropped below $ 60k. But actually, because time is still long enough to reach the period of increase, it is better to have corrections so that it gives the strength of encouragement for Bitcoin to be able to reach a higher level, at a time a few months later, even until the end of the year and the achievement of the peak at the beginning of next year.
I agree that by the end of this year the possibility of $ 100K will be achieved in order to provide strength at the beginning of next year to reach the latest ATH again.

At the end it does not make too much of a difference, what matters is that we follow whatever strategy we have decided to use and we stick to it, something that can be difficult for newbies which are just starting out, but something relatively easy for people like us that have the necessary experience to do it.

So even if June seems like it is going to be once again a negative month for bitcoin, I see this as a good thing for us, since I do not know for how long the price will remain that low and will allow us to get more bitcoin for our fiat.

June has been red so far but don't let that fool you. It is a misconception thinking that just because we are in a certain month the market should act in a certain way (up or down) every year. We keep seeing this every year where people say this month it dumps and that month it pumps.

What happened in June is not related to the month itself.
The situation with recession hasn't changed so sell pressure will continue to exist; and considering how price failed to break $70k and most importantly failed to stay above it, naturally the price comes down like this until the crash ends and price recovers and goes back up to try $70k+ once more.

Yeah, that's another nature of this market, it's cyclical but then very unpredictable at the same time. I attribute this to the growing number of Bitcoin investors, whales, average Joe's who's in the market right now. Some rules might have change, and there will be month like this one that we will see the price going in a average -5%.

Not just in crypto market, but recession is affecting every market, gold, silver, stocks and even oil. It's just how we react, like buying in the downturn, but I think majority is still afraid to the that because of the uncertainties. But if you are here for the bigger picture, regardless of the month that we see, you are going to accumulate Bitcoin as it is going to be more scarce and limited but demand are going to skyrocket in next year.

Why people cant really just that make themselves that realize that this market isnt something that they cant be able to predict on? We do know that when it comes to this aspect that there would really be no specific
months in a year could really be that precisely on having on the same condition whether its on the past and on the future months to come. Yes, they could really be having those connections or correlations but we do know that when it comes to this manner then everything which is really that unpredictable or something that cant really be known. Yes, it could make out some patterns but doesnt mean that it would be surely be happening ahead. So the best thing that you should do when there's a downturn on which instead on making yourself that freaking out with those drops. It would really be rather that wise that you should be making some
DCA or accumulation phase.

If you've been here into this market for a while now then it would really be impossible that you dont really know on how it moves or behaves on which it would really be just
that a normal thing for you to have that kind of approach on the moment that you do deal up with things.

Yes - market dynamics should be considered normal regardless of the month we live in. Many people assume that past price history, especially in the same month, will repeat itself in the following year - for me the correlation is very low. In fact they consider it fundamental.

There are various reasons why bitcoin price failed to stay above $70K - one of them is high interest rates. A reduction in interest rates will most likely make the market enthusiastic again and it is hoped that recovery can occur.

It has not been like this in all the history of Bitcoin in June all these years. This year we get to see Bitcoin on the red till the end of the month. Here is a chart of how Bitcoin have performed in each month since 2013. If you look at it carefully the green to red is equal that should be each of them 6.

https://www.talkimg.com/images/2024/06/28/hqzo3.png

Truly this period has been hectic for everyone. The global economy, the stock market, and as well the Bitcoin market. I don't want to see a reason to believe that it will take months to recover from this.

Another down day to end June, I wouldnt count BTC out just yet but its not a positive end so far.  There is a flag pattern there but its not beaten resistance now forming a ceiling overhead present price action.

I do believe we visit the 200 day average again and resolve properly in that area the more general direction longer term.  However it does not have to be the case we go straight back down to 58k where alot of volume will its just I do think that has gravity to eventually bring us right back here.

  June isnt going to give an answer to many people looking for a wider direction.  In fact I think we take the whole summer or more to properly decide this bigger question, the clue I take is that we held up this high for so long.   BTC is like spiderman like now, despite many blows its still stuck to the ceiling pretty well for many months.

Although the Bitcoin market is currently dumping, I say there is no reason to panic. Because if your investment is in bitcoin then surely it will be successful at higher level price and aiming more profit. 
But if your investment is in other platform then I can't guarantee it, but without doubt bitcoin market will start bull market by the end of 2024 and I expect maximum high price.

Not the worst month though, if we look at the last couple of months, April was almost -15%, and for this month, -9.xx%. So it's not anecdotal as this point, just a day before the end of this month and so we will not see a positive upside and the dump might continue. Just continue what smart investors are doing, just DCA and buy as much as you can. We shouldn't be looking at the short term price, look at the bigger picture as it is the best strategy.

We don't what the market to continue to decline. But if this is what the market is giving to us, then we can't do anything about it by to accept and then adjust our investment strategy by going long and again, accumulate and accumulate.