Bitcoin Forum

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period? Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month. This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

Will the price touch $38k this months?

Anything is possible with bitcoin, Mt gox coins, Germany and USA dump I believe is the reason why the price is dropping.

Why buy bitcoin at 70K, when you can buy it much lower when all of these coins hit the market.

I don't think we would see more below 56k it's already touching the dip price or breakout under the symmetrical flag it might be just a retest at that area and I believe after the price touches this area around 57k wait for a massive price pump because that is the cheapest price right now and it is still within the symmetrical flag so there's a pump coming soon this is just my own prediction and we will see the pump maybe after a few hours later or tomorrow if not then it would retest the 56k again then it would pump if no more sellers sold their holdings.

I think you haven’t read around the news, there is a massive sell by institutions, US are selling, Germans are selling, miners are also rumored to be selling as there is movement of coins from old abandoned wallets to exchanges this has caused some FUD and possibly increases the supply strength of the bitcoin. Mt.Gotx refund also happening is another caused again. Bitcoin is not a static currency but actually depends on the demand and supply. There is nothing to worry about because just like the ETF approval hype caused the high demand of bitcoin then which resulted in massive price pump so is this institutional sell offs causing the huge price dump too, it’s just a normal correction phase that is happening now.

Yes the bitcoin didn’t directly happen according to past trends because we even had a new ATH right before halving which wasn’t the trend before but still bitcoin isn’t far from the past trends because in previous halving years the bearish trends takes place right when the halving occurs and bulls set in months later.


No prediction is perfect but I don’t see us hitting $38k anytime soon. My secondary support at the moment should that of $56k fails to hold will be at $52k. Anything below this will only be caused by a strong negative news other than this sale offs

I don't see any reason for anyone to complain about bitcoin price right now, this is a good opportunity to get more bitcoin if you haven't, you've seen the dip then take most advantage of it, I'm not the type to expect bitcoin to fall any more than this, if you are using the DCA method and you have a good reserves I guess this is a good time to put then to use and get more bitcoin for yourself.

If you are just that new into this market then its not shocking or surprising but if you have been on this market for a couple of years or something that do able to experience those year cycles
then you would really be telling into yourself that it is really just that a normal phase or movement this market could have. On the moment or time that you do deal up with this space then
you should really be that accepting it on the first place that anything could happen even if it seems that it is really just that already too far off. Expect the unexpected and this is something
that you would really be needing up primarily so that you wont really be ending up on being impulsive.

Get used to these movements and we arent still on a bull run yet. Also, come to think that this market is always that volatile on which there's no way
that we could really be just having that single line of movement. Anytime the price could go down on least expected.

There is also a big support on $40k. The bottom could be there, this dump is too hard to ignore, holders are anxious when there is a threat of price dump due to German and US government dumping while MtGox is also about to be distributed.

Sometimes it's reasonable to just sell and wait til the calm of this panic. But most traders already saw it coming when the price peaks. The hope is just its just months after halving.

The all-time high ($73.7K), down to $56K, is only approximately a 27% drop. And if you take a look at bitcoin's historic drops, let me tell you — 27% is NOTHING lol so there's really nothing to be surprised for here.

Welp, no one knows, but I won't be surprised if we reach that and I won't be surprised either if we don't reach that. BTC is simply just such an unpredictable asset.

Bitcoin got to all-time-high before halving which is an indication that history is not repeating itself this time around. But the market can deceive sometimes in a way there would be a bear market but followed by a massive bull market.

What people have speculated is that bitcoin could fall below $45000. The next very strong support would be $50000 but there would be some strong support even before it got to $50000 if provided that bitcoin will fall to $50000. It would be hard for bitcoin to break $50000 even more than as it broke $60000. As for $38000, I do not think bitcoin will fall that low.

Please don't be surprised because it's also the same feeling when Bitcoin goes oppositely. And always think of the possibility that the answer to your question is a yes because of it being volatile.

Not shocking and it's not low compared to the past months. And it's true that we're thinking of a higher price but don't be too quick to see them because the time will come soon and we'd hit that $80k mark and even more.

The year hasn't ended yet and this bull run would take more than a year so let's wait and see up to next year.

As for this, we might it see it decrease down to $50k but I don't think $38k.

The market can be sometimes very unpredictable, that was why I was telling somebody the other time that $80k benchmark just within the  month of July is unrealistic, but I still believe it will bounce back to sixty something. I was even surprised to see the amount go down to 56, I wasn't expecting that especially now that people are looking forward for a new ATH, though the dip too allows for more affordable accumulation if you look at it on the side, but i don't subscribe to seeing it fall down to $38k as you are speculating OP, because I don't see any indices suggesting it will get down to that level.

As for this month, i think bitcoin will be more volatile than before and we should be preparing for as low as $52,000 dip and also expect for more pump in the other direction to about $72,000 because this month is seen as the type that will be more orchestrated by high market volatility and from the way we have seen it appearing this early, we should expect the opposite before or towards its end, but not as OP had predicted for the market to go dip to $38,000 this season.

People who want to wait for a supposed dip to $38,000 won’t buy. They’ll convince themselves they’re going to wait until $20,000 then and it won’t come, they’ll remain in fiat and full of regret.

We’re already over 20% down from the ATH, what more do you want. It’s early in the bull run, next year is the main pump. Now is the time to buy, not wait for a price that may not arrive.

People like this only doubt but do not take action to buy when the price is decreasing, as you said when the price, for example, falls to $38K he will wait for it to drop again this is because he wants to get a low price value but doubts the ability to increase bitcoin.

Don't know why he keeps thinking "is this month to $38K?" the fact is no one knows, it's better to buy now and if the price drops to $38K buy again what's hard to do that right?
If I were many who would not think about unclear prices but would think about the current price to buy immediately not to delay.

56,000$ was expected, due to the bearish news for July. Those who were attentive to the recent events predicted this potential scenario with success. And it's possible Bitcoin's price still crashes deeper. I just hope it doesn't reach 49,000$ or below.

I believe once the distribution by Mt. Gox happens, the scenario starts improving for Bitcoin once again. There is a lot of fear and pessimism among investors due to Mt. Gox exchange, US and Germany governments dropping large sums of Bitcoin on the market. So we just have to wait for this to happen for that wave of pessimism fade out.

Anyway, why is 38,000$ being mentioned here? There isn't any reasons to conclude a prediction like that yet, since we are still above the 58,000$ price range. Despite the bearish tendency, Bitcoin is maintaining its price inside a stable price zone. 38,000$ looks an unreasonable prediction based on despair and fear after the recent crash from 63,000$ to 56,000$.

I read the news on X that is associated now more Germany has sold BTC that has been confiscated this may cause the market to crash, do not panic because if this news is over then bitcoin can recover again.
Maybe you thought when you bought at $70,000 bitcoin would go up but when the price fell, you still wonder if it will go down deeper while we don't know where the lowest point is at the current price or will go down again.

The current further drop may be a result of traders taking advantage of the news about the MT. Gox coins disbursement.  The traders are possibly shorting their orders so that they can accumulate when the distribution of the coins to MT. Gox victims started.  The 9B dollar amount of coins to be released on the market is huge of a supply and many think that a fund this huge would greatly affect the supply of the Bitcoin market and a possible dip for the market price. Also this:


This is also a good opportunity for people who want to re-enter the Bitcoin market and for those who love to DCA their way in accumulating Bitcoin.  However, I am not seeing BTC to drop $38k or below since a demand pressure my flock in once Bitcoin dips down below the $50k area.  Aside from that there are also good support above $50k unless these supports are taken off, Bitcoin might recover even before it touches $49k.

Market sentiment has been somewhat negative of late considering Mtgox's coin distribution plans. Many traders or shareholders may sell their holdings to make a profit, but there is also the possibility of manipulation in the current market by whales. A large movement of bitcoin from wallets to exchanges will cause panic, especially if BTC enters the market in large quantities.

No, but who knows?

I have stopped to imagine what the next price of bitcoin will be or when the price will get to a certain amount when I’m foreseeing it. Bitcoin is a very volatile asset and despite his retraces back to its original trend, it always end up shocking people and not always going as predicted. I love the pattern of indecision it gives to speculators. One thing is just for sure that bitcoin will grow to an unimaginable level after all this retracement and change of pattern it is currently witnessing. Let the holder keep holding, while those apply DCA keep building their portfolio further. These are rare opportunities and they come not quite often.

I hope every investor would understand that seeing the price decline in this way even when all hope is based on seeing the price make new price mark, it shouldn't have to come as a suprise because that's what the market is all about, very volatile and even with facts to back up predictions the market may decide to go side ways.

Since the market can be sometimes misinterpreted, we should endeavour to kick up on how we accumulate Bitcoin, whether in DIP or not but base on the current price we should acknowledge and make good use to accumulate more, it might end up being the DIP we hoped for before the bull run begins.

Reminds me of this:

https://www.visualcapitalist.com/wp-content/uploads/2021/05/Artboard-1-2.jpg

Especially focus on 2013 and 2017 as these were bull market years and count how many significant drops there were in each of these years!
We were in bull market, about to reach an ATH and we had to go through 4 or 5 corrections to get there.
Now display this current bull market in a 1d chart and you'll see that this is only the third significant correction of this year, the first being in January.
We could easily go back to 40k this time and go back to a new all time high this year and it wouldn't be anything out of the ordinary for bitcoin.

Unexpected - yes, but not really surprising.  Bitcoin has had its ups and downs in the past, and a 27% drop, while significant, is not unheard of for this volatile asset.  As investors it is wise to keep some perspective during times of market turbulence.  No one truly knows what the future holds - the price could continue falling or reverse course at any moment. 

zooming out a bit, it is important to remember Bitcoin's tremendous growth trajectory over the last few years.  Short-term price corrections can feel jarring in the moment, but may cause less distress for those taking a long-term view and avoiding overexposure.  Time will tell whether this is just another bump in the road or part of a larger correction.  Patience and discipline are key.

Why are you surprised - this is normal and prices can fall and rise whenever there is a trigger.
I'm not sure what's next - but if you're already invested in it, then accumulate and be patient. This is simply the best advice I can come up with - but remain optimistic about the future potential considering the impact of the halving is yet to really be seen. Wait at least 15 to 18 months after the halving - then see what happens.

No - this is not surprising. Expectations sometimes don't match reality - so I should have considered it all as a risk of investment.

Most likely not - there is strong support below and that strongly supports it not falling further. But now - what are you waiting for and what do you want?

And it just shows how unpredictable the market is, we thought that we will go to $70,000 as last month was really bad, but at the start of July we went to $63,000 and now suddenly we are way below but the good this is that we were able to bounce back, just check the price and now we area at $58,000 and it looks like this is the support for now and hopefully the trend can continue and hop and break the next resistance at $60,000.


Anything goes with the market right now, we are bearish, but I do not see that the market going on the price at it is way below. If you are asking because you are going to buy on that level, then I would advise not to wait for it but take the advantage that we are below $60,000 and that is good enough entry level.

I don't know if bitcoin price will stay at $38k this month but the market signs are not very good. Today, almost everyone feels bad about the way unique coin prices have started dumping, including the Bitcoin market. I expected Bitcoin to stay close to $60000 and gradually move upwards. I'm in a lot of volatility right now because I had a lot of $$ a few days ago but the market is dumping more and is currently taking my portfolio down a lot which is feeling a lot of volatility. However, I stopped watching the market to brace myself during this dumping period. I don't know if the market will grow again but it can be estimated that the market will grow by 2024. To those who have invested I would say hold on to your investment. Control yourself even if you feel restless at the moment. And those who want to invest can get ready to invest because the time to invest has come. But right now I think investing in DCA method is most acceptable.

Everything gets possible with bitcoin, no matter how we think that's quite impossible to happen. So I'm now more open seeing bitcoin in the next few days dropping its price more dramatically. But in all honesty, I'm still hopeful that we will see more price increase and recovery in the next few days, which I think is also possible if we will experience current positive news and updates about bitcoin.

Many of us did not expect to see Bitcoin at $56,770 and we were shocked and I think still we should be expecting more dip after the market recovers a little. There has to be a follow up correction as everybody was taken unaware and people need to sell after they have bought this dip. We were all bullish towards Bitcoin breaking a new highest price this month which can still happen because Bitcoin has the potential to recover very fast and continue in an upward trend but all of a sudden Bitcoin has started dipping. Some people are saying this is not going to be the lowest price after the halving and they are calling for $50,000 which is now looking more likely to happen after this last dip has sent the price of Bitcoin below $60,000.

I guess everyone less expect this to happen, but knowing bitcoin is highly volatile, then we can't take control of its price. And right now, you are predicting that it will drop more and touch $38k later on? I won't dare to reject that idea but I have this feeling that bitcoin price won't drop below $50k this time. And if ever it is, that's just good to say that bitcoin is preparing for another price skyrocket that could reach an amount 2x or even 3x from its current price. Bitcoin is undeniably unpredictable, yet I'm more optimistic to see price recovery and price surging high after this.

Lol, in the first 4 hours of the day Bitcoin has already touched the 56,800$ - 56,900$ zone 6 times! The price hits that support level and then bounces back to 57,000$. I ask myself how long Bitcoin can still secure the position with so much pressure pushing the price downside. There is a fierce battle going on right now with the bears attempting to fell Bitcoin at all costs. Unfortunatelly, I think the price is still going to fall deeper... There aren't any good signals on the horizon for the short term.

I wish I could close my eyes and only open them again once the Mt. Gox redistribution and governments' Bitcoin sales were done!

It should not surprise you to see price go below $60k and as low as $56k because the Bitcoin market is not just easy to predict because a lot of factors and interest are at play. Since the news about the Mt.Gox refund broke out, there have been mixed reaction in the market and the confidence of many people in price continuing to rise have actually diminish. In general, people actually anticipated minor dip at least till after the refund is complete but a dip up to $56k was not expected prior to the actual refund date. To be honest, it is very difficult knowing how low Bitcoin will go when the refund is actually done and it is followed by massive sell off which is what will likely happen.  

Why would you think it's not possible? I already thought Q3 will be the bottom and Q4 will be bullish. If you hoping to double your money, then you also need to take risk to lose 50% of your money too.

Touching $50K is possible, however I don't understand why you can throw random number like $38K, high unlikely.

Bitcoin might not follow the same pattern like the last two halving seasons, but what I'm sure is Bitcoin will breaking new ATH after 4 years.

The $60,000 has never been my benchmark with Bitcoin, it's just a psychological level, and as usual, many will just be using the psychological level to believe there is strong support or resistance there, but in practice, they may not be there but the sentiment of some sectional people with this belief may be making the level prove as though they are there. Regardless, Bitcoin has suffered enough defeat since March and I am glad to have warned of this many times. The fresh liquidity inflow is not coming in and I wonder how the huge investors will be committing their money to it at high prices, the risk is high. If it rather falls and tries to regroup higher, fine, it might have a better power to buy above the current ATH then, but on the high levels, as it was, it can't do so much.

However, my reference level remains at $62,120, it is a TrendMagic level which I have been calling since last week. This is a dangerous level if Bitcoin remains below it, it is a weekly chart and Bitcoin itself is overall negative on the chart with the price action and many other analytical confirmations pointing to the same direction. It might hit the $50,000 psychological level soon, it is already around $54,000. A break above the level will determine your $38,000 which seems too low of a target.

Even now it is lower than the price of 55,000$ and after seeing its movement in the last 24 hours it looks like we will see a fairly deep and fast correction.
This is surprising because it happened quickly, we have rarely seen price movements like this lately, but don't worry too much, there are still positive things that can be taken from what happened.
I think starting to buy more when the price falls below 50,000$ might be one of my efforts to avoid panic and also think positively for the future.

From the Technical point of view, It wasn't a surprise to me from my analysis. In the Bitcoin market you have to expect anything, our expectation shouldn't be always that the price will go high, because of the law of demand and supply, at some point we will also get a major correction way far below our target and same as when the price goes up and that's normal in the market because you don't control the market, rather the market forces will determine.

Therefore, with the July selling pressure from government MTGox Bitcoin distribution, from the fundamental perspective this already signals we will be getting this decline in price. However, since we are still in a bull market, such corrections is a great opportunity in the market and no panicking, from the handwriting of the clock ,most institutions want to get their hands in Bitcoin and wouldn't want to buy at such a high price 70k, and Technically this correction is in agreement with a possible weekly retracement on the chart.
Bitcoin should be getting a bounce at $50k- 49k if melted further.

Bitcoin price is trading at $53k and the gap to $50k is not too big. If you still want to buy more bitcoin, why not now and wait for the price below $50k? We have no guarantee that bitcoin will fall below $50k, bitcoin is unpredictable, you know that right?
Many people are panicked and worried by bad news like the governments and Mt.gox taking turns selling bitcoin on the market, and I think those who don't dare to buy at this time will also not buy if the price drops further.
I think it's best to use the DCA strategy instead of waiting for bitcoin to drop to $50k because there are no guarantees.

Well, I have been waiting for the serious crasg pre bullrun to happen. Anyone who believes in amy degree of cycle behaviour (I'm one) has been waiting.

This isn't it though. Too small. Not enough panic in the markets. No blood. Yawn.

$54,000 now!

Dont get me wrong, Its great for us who can pounce on this opportunity to buy low,
but WTF are people thinking who sell at these times?

Are they afraid of the MtGox coins hitting the market will drive the price down?

Can they not see and/or realise it will be a time for buying not selling?

Buying the dip is like catching falling knives, since people are also afraid of that news you mentioned, it just makes them so hesitant to buy bitcoin from this price point and maybe waiting for further dips, i've read some speculator predicting that it will go as low as sub$50k but honestly i don't believe it will go that low and even if it does that means i'm gonna entry.

i already repositioned all my investment from alts and ready to make entry when bitcoin is at the lowest but determining one is hard.
but so many newsletter keep fudding on the rumour of the dumping of bitcoin that gonna take place in the future amounting to billions, like literally whenever there's big btc movement, account like arkham intelligence keep tweeting it so yeah it created clout.

to be fair, the future dumping of all those bitcoin indeed looks scary granted that institutional investors could just buy it all up.

Surprised, surprised, now we are at $54k.


Perfect opportunity again, but the question is, are there any buyer right now as they are waiting for the price to go down to $50k? Or will be bouncing back to the support of $58k at least?


You can't really blame those who sold right now because of the news of repayment to Mt. Gox victims. And if the Mt. Gox victims are selling then again, no worries, is there right as they have been waiting for this opportunity for so long now.

This is indeed very surprising, and worse predictions will emerge and it is not as surprising as when prices rise very high.
Will it hit $38,000? Of course, no one will know for sure, everything is just a prediction, but for whales, such a low price is an opportunity to buy more, only retail will probably panic even more, especially if there is no fiat left to buy, they can only be spectators and wait for the price to bounce back.

The seller was likely the German government, who received compensation from Mt.gox. The German government can sell whenever they want because they don't buy those bitcoins so they don't care what the bitcoin price is. Meanwhile, Mt.gox victims are receiving 100x profits after 10 years, and they have waited so long to receive these bitcoins that selling them is inevitable.

My question is with such negative news, who will be brave enough to buy bitcoin now when most of us fear more price drops are waiting for us? Bitcoin price drops are always an opportunity, but how many people are brave enough to buy it?

BTC hit the 53,000$ mark and then returned to 55,500$. It's going to be pretty good if Bitcoin is able to maintain this price as support level until a new bullish tendency starts. I think Bitcon is going to try breaking the 56,000$ line until the end of the day. Now the test begins to see how strong it is and what we can expect from Bitcoin in the following days. The psychological impact of Mt. Gox news is much more intense over the market than the redistribution of coins they are going to execute.

Some traders claim 53,000$ was the bottom. I'm skeptical about every scenarios and predictions so far until the market stabilizes and a new tendency is drawn.

I certainly dont see buying any dip as 'catching falling knives' I see it as pulling '7 7 7 7' !

Personally I wouldnt be holding out for a sub $50k, I've bought already at a $20k discount.


Yes the German government was selling but thats all temporary selling in a bull
market, that as well as the MtGox saga will pass and be part of Bitcoin history

I cant believe there should be fear - again in a bull market post halving.

there are some news today that make bitcoin drop, but something like this is not new for bitcoin, even bitcoin has experienced a worse drop than this, so there is no need to panic that bitcoin will drop even worse. the point is if you have bitcoin investment keep holding and don't panic, because you will not lose if you do not sell.

even if you can, you can accumulate more bitcoin when the market condition is like now and do not need to worry that the price will continue like this because bitcoin will definitely go up again.

Except for the newbies who are panicking, those who have been through a bear season or two before won't be worried about what's happening. But I guess many people were quite surprised and a bit disappointed because everything happened quite quickly and not as people expected. Most were very optimistic and expected a bitcoin recovery this month, but in less than the first week of July, we continued to see bitcoin being dumped. Disappointment is inevitable.

I was also surprised and a bit disappointed but did not panic because with such a deep decrease, it will take us quite a while to recover. But like you said, this will be an opportunity for those who still have money and want DCA.

The current situation of Bitcoin has surprised everyone . Bitcoin touched the 54k level and is now trading at 55k . The sudden drop in price of Bitcoin is not understandable . Experts are busy analyzing it's reason but could not find a clrea answer . Both investor and trader are worried about this uncertainty . Some believe that this is the result of a market correction  , while others believe that large selling pressure is causing Bitcoin price to fall .

For now and this second, no one, whether they are Bitcoin experts, fortune tellers, astronauts, has yet to speculate and predict 100% accuracy regarding the rise and fall of Bitcoin, that is the advantage of Bitcoin, no one has done it right.

It should be noted, anything could happen to the development of Bitcoin itself, whether in terms of prices falling or rising, $38k is not difficult for Bitcoin to achieve, maybe even lower, What is clear is that several bitcoin speculations for this year say that Bitcoin will experience deeper figures than the year after the previous halving, Now it seems that it is those who have faith who will succeed, it is those who are brave who have an understanding of the true value of the bottom line.

Right now it wouldn’t be outrageous to actually predict that bitcoin wouldn’t test that support because the FUDs are just growing strong at the moment which is worrisome for bitcoin. The Mt.Gotx refund has started and as I have predicted earlier bitcoin tested the Fair value gap at $53k, filled it and then pushed up. If the news doesn’t impact it below that I think that is our primary support but should it break then the $43k is where we might be heading.


Any sell of now will just be as a result of fear of losing out or say FUD which in my opinion is very bad. Yes there is no harm in selling but only when you’re taking profit, other than that you’re losing which is not good. Now is the perfect time to hold, accumulate and accumulate not a time of sell offs.

If no one is willing to buy when the price was $70k, who do you think will buy from those who are selling? And what actually will bring down the price if no one is willing to buy and is waiting for the price to drop? 
 
Real hodlers will definitely buy no matter what the price is; their target is to hold and accumulate for a long period of time, and when the fund is available, they will refill their wallet.

People will end up buying at 70k, some will even think that cheap its just not that time right now.   Theres never only a singular price, its a price on that time and place and they all vary in context.   The price now is 3000 over the lows of only some hours ago, thats a pretty good recovery alot of effort and money in that rally but we still got question it.   I do however think there is more to come in development, more traffic to deal with before any ideas of shooting down those higher prices.

   Its work that BTC price action has to do like clearing the road of snow before you can properly drive it, no option around it really.  57k is 2 day average and 58k is where Im waiting for BTC to confirm above before I can expect something more positive lasting over days not just hours.    Sometimes every rally just ends up another chance to be sold because the price contained alot of trade(r)s who want to exit which leads to a repeat downwards and so on it cycles.

dropping to $38k in my opinion is impossible, in my opinion the lowest bitcoin price until the end of this year is $45k imo.
If we look at the history of Bitcoin prices since it was first circulated, price declines after the Bitcoin halving often occur, so don't be surprised, if you have a stable income then i suggest buying Bitcoin using the DCA method.  The point is, don't sell bitcoin that you bought at previously high prices ^{(if you buy it)}

It is true that those of us who invest in bitcoin should have this mindset, the rise and fall of the price of bitcoin is normal because the market is dynamic and things like this often happen in the market. If there is big news it will affect the market. However, we don't need to panic, in fact at times like this we have to take advantage of market declines to continue buying bitcoin. I believe that if you are an investor using the DCA strategy, this is a great time to continue buying and holding for the long term.

Bitcoin once fell to $16.000 and once rose to $72.000 and now bitcoin has experienced a slight decline because there was news that made many people sell it until the price of bitcoin fell to $53.485 but is now back at $56.702. So don't ever think that we will end, that will actually make us panic? Stay patient, because now Bitcoin is slowly starting to recover, we just need to be patient. It's true as you said, as long as we haven't sold bitcoin, we haven't experienced a loss, so keep holding.

Ehh I mean it's not that big in the grand scheme of things. I reckon it's just such a big impact because majority of the market sentiment (or at least what you and I saw) was expecting that Bitcoin would stagnate at 60k at most, hover around there a couple of months and go straight to 100k ish or somewhere around there. Still, I'd say we're still only halfway of the year and I personally expect more positive growth later on the year compared to now.

As for 38k, oddly specific but anyway who knows. Highly doubt it, we'd probably see a stop at 50k ish if we do drop continuously though.

As beginners who are still in the process of learning about investing in Bitcoin, of course it is natural for them to panic, but if they continue to try to understand how Bitcoin works, of course they will understand that this is how Bitcoin works, you are right, this happens very quickly and not everyone we can assume that Bitcoin has experienced a decline below 56k and this will be able to be exploited by those who have sufficient funds to be able to buy at this time but if we do not have sufficient funds then we still have the opportunity to collect funds to be able to buy it so that we can hold it Until the increase arrives, of course we will be able to make a profit.

Well, you don't have to be surprised, mate. According to some price analysis last month compared to the month before it, Bitcoin was definitely going to experience a price dip this month, and even next month, it could be that a price pump will happen towards the end of the year or even next year, so until then, the price of Bitcoin might likely not pump any time soon.

Bitcoin is a volatile asset, and if you understand it, you don't have to freak out about its price change. It could be seen tomorrow at $60k or more, and the reverse could also be the case the next day.

The lowest I saw was $53,500 which wasn’t pleasant but at least it didn’t go under $50,000. Hopefully I haven’t jinxed us there but it seems there is willingness to scoop up coins under $55,000. We are not out of the woods yet though, the German government is still selling & MtGox are about to, or are already if you believe stories on Twitter, reimbursing creditors. Hopefully the worst is behind us but don’t bet on it.

We're on the weekend so probably the damage has been controlled as of the moment. But we'll see when the markets open on Monday and for sure that many aren't going to like that. 

But with all of these unexpected moved from Bitcoin. We have been used to this and those who can't take it anymore are free to flee the market but don't sell all that you've got.

Just flee, rest and don't look at the charts if it's hurting you so that it will be your mechanism to address your panicking heart.

I don't think so, I don't think the price of Bitcoin will touch $38K again this month even though the price is currently experiencing a decline. Because on the one hand, I still believe in price recovery, which could slowly happen again this month until it passes the $60K mark again. The decline in prices due to the influence of news that has caused excitement in recent days should still be considered a quite normal thing because in the past it has also happened to Bitcoin where price declines were influenced by bad news and could cause more panic among many investors.

Some whales and unscrupulous circles are trying to mislead investors by depressing the price of Bitcoin. If the investors fall into their trap, then the circles will definitely benefit but the ordinary investors will suffer. The price of Bitcoin will never reach the level it was in 2017 or 2018 because the investment has increased and the number of investors has also increased. Those who are looking for big dips will also suffer so what to do at this time is to regularize DCA and increase your Bitcoin portfolio as well as boost your confidence. Because Bitcoin fourth halving is completed, Bitcoin's ETF has been approved, so the possibility of its upside is very high.

The crypto market is unpredictable. You don't expect to see any price at any time. Bitcoin's price can rise or fall at any time without anyone's permission or knowledge. But one thing interesting about the price movement of bitcoin is that it always falls to people's advantage to sell their bitcoin at profits or to accumulate more bitcoin at a discount price.

My expectation is for bitcoin to decline to a price less than $50k so that I accumulate bitcoin at a discount. but how sure am I that it will decline to that amount, now the market is picking up despite the MtGox sales this month 

I hope so... Bitcoin managed to return to 57,800$ nicely and it's already trying to break the 58,000$ line. It's possible that on the next days we see Bitcoin reaching close to 60,000$ again, which is an important price range to retrieve the optimism from investors after so many negative news and the recent crash. Personally, I believe once the sales from Mt. Gox's customers begin, the market will see it's not going to be so devastating like it was expected once the news came into the scene.

So, the tendency is that fear of new crashes will cease, and more investors will start buying once again. The crash we saw was due to a psychological effect caused by fear, as investors didn't know how deep Bitcoin could fall, so they guaranteed some funds back into fiat on the short term. It's worthy to keep in mind not every investors can give themselves the luxury of holding forever. They have real life expenses and schedules, so the money they have invested in BTC has to be cashed out to fulfill such appointements from times to times.

It's a responsible measure to cashout before a large crash, so they can guarantee they can meet daily routine's debt.

Sometimes when the market is hit by a disaster like that I think it is necessary to have a distraction rather than looking at a portfolio that is red and very sad.

Leaving the market for a few days is the best way instead of constantly looking at the candles, it will give a little calm and not get a sense of panic, if you continue to look at the market, the possibility of panic will always arise and can make us want to sell the BTC we currently have at a loss, except maybe people who really think otherwise, that they need to get more BTC when the market is experiencing a significant decline like now, it is a smart move to do additional DCA.

If you were following the market right from 2016 you would understand that there's nothing impossible to happen in the industry. I don't think something serious have happened let say to me the market would still drop to about 30 to 40 percent decrease from the ATH, this will happen before we finally get into full bull run if the history are in sequence because it seems the market is no longer moving the way it should but it is better to be optimistic that something positive gonna happened.
If you were looking for a better moment to enter the market then now is the right to engage yourself with DCA.

Monday will determine if the market can recover to $60,000 or if Bitcoin will continue dipping to below $50,000. We should not celebrate yet because we do not know what will happen on Monday. But I do not think we are going to like it though because I have a feeling that the selling will continue. The sudden dip has left many traders in shock including me. I always felt the market was going to dip but not to this extent. The fear spreading is a sell off coming from people with a large amount of Bitcoin and the panicking is still going to continue until they either sell or postpone their selling. Market is always slow during the weekend because some traders are not active in make trading.

The price was already below $55k this week so there is no need to say bitcoin will not decline below $56k. It has already gone below that and and for this month bitcoin will not hit $38 and if bitcoin reached that price then the dip is sure to bw hit. And for those people who are saying that the price will reach $60k on Monday, they are just dreaming. The price will not reached $60k on Monday and if it increases the it will be at least $57k if not it will be at the price nod $55k or $56k.
The price of bitcoin at the end of the year is 60k as my prediction because the price is about entering the bear as of April next year.

This is why on the moment that you do step your foot into this market then always bare up in mind that everything or anything could happen in a snap or least expected or simply "EXPECT THE UNEXPECTED" as always,
because on the moment that you do find yourself that way too positive but the market turned out to the opposite side of things then you would really be definitely be having that kind of preparation on what
things that might come and this is something that be recommended so that you wont really be ending up on frustrated or getting shocked on what happened.  ;D

Instead on freaking out with the current price then it would really be that ideal that you should really be having some considerations on making some entry instead on having those
kind of negative impressions or emotions on the current market condition. We do know that when it comes to movement then everything would really be turned out to be that
random and we cant really be having that moving upwards behavior forever, there would really be having corrections too on which this one would be normal.

Seeing bitcoin dropping its price drastically is never new to us because this has happened already in its previous years. But to be honest, I also expect bitcoin to start skyrocketing its price months after bitcoin having, but I don't think it will be happening this month. In fact, we may witness more of this in the next days or months, that's how volatile bitcoin is. But one thing is certain, time will definitely come that we will see bitcoin price one of these days surging high and going up to the moon again when we least expect it to happen.

We actually don't need to be surprised by the current market conditions because market movement dynamics will definitely exist after the drastic increase in the price of Bitcoin which reached ATH this year, so there is no need to overreact to the current market price and don't believe in low-level speculation that predicts the market price will fall to 30k, this situation will make people panic to sell bitcoin which could result in the price dropping, but we must be wise in taking advantage of DCA investment opportunities to focus on increasing bitcoin investment. However, bitcoin still has the opportunity to recover quickly because the current dominant price is still very close to the ATH price.

Recovering past 57k to end the week would help resolve this weekly bar positively and its generally the closing price that tends to matter more then most other factors.   Above the 2 day but needs 60k to average out the week as positive then you really know thats a full recovery scenario.   Weekly average or 60k here would be my golden rule or measure to take a move as genuinely positive or negative just acting to fool us.

Actually what is happening is a good thing for the market and for us because the Mt.gox story has been going on for the past 10 years and it always causes panic every time news about it spreads. So the fact that they are refunding bitcoins to everyone is good news because they will soon be history and we will no longer fear anything related to Mt.gox in the future.

But in reality, not everyone thinks like us, especially those new to the market. It's understandable for newbies to panic over news like this, and it's normal for them to sell their bitcoins. But in the end, all of this will soon pass and the real bull season has not yet arrived, so those who have sold will soon regret it.

Currently the price of Bitcoin is still around $57K which is generally not too far from the highest price seen this year so I also don't think Bitcoin will fall that low this month. Because if the decline certainly has a cause, it is clear that recovery is still a definite thing to hope for through other causes. However, for the new ATH, I still haven't made a prediction because it still takes a little more time for Bitcoin so it's also a good idea to keep holding and buying before a big recovery occurs again in Bitcoin.

The price of bitcoin has fallen by over 22% since its last ATH of around $73k in March 2024. This has been too much for me and most other users, but of course I don't know how you feel now that you know that fact. Holders' mentality is tested by this downward trend, those who panic and fear loss will sell, while those who believe in the potential for recovery will hold and accumulate.

Personally I've ignored price volatility as much as I can, but it's certainly not fun to see prices drop that much from March to now. Of course we cannot hope that the upward trend will always last, sometimes there must be a downward trend so that the mentality of investors and holders becomes stronger.

There is no other way but to survive and continue to HOLD because selling now will definitely experience a lot of losses, maybe some of them are mentally affected because they see the market continuing to decline but with patience to wait for bitcoin to recover even though they don't know when it will happen so just stay optimistic.

Yaehhh ... will try to continue to accumulate in the falling bitcoin price.

Who does not panic with this falling price again tests the mentality of other investors how strong they survive, but after other news sinks the usual bitcoin starts to recover slowly.

Yes corrections are normal on the journey of a traded asset, supply and demand are the main indicators in this case, so yes there is no need to panic, just let it stand or add another entry.

What is certain is not to make decisions too quickly in buying or selling bitcoin, we must have prior planning so that whatever happens in the market we must be prepared for the consequences and maybe some people do not have bad expectations of bitcoin movements so they are a little afraid.

We just need to hold and never sell, especially at a loss, it will make ourselves in a bad situation in the future when the market goes back up, even higher than what has happened.

disappointed is very natural considering that it is an investment that we make using our own money and we hope that there will be an increase in price but what happens is the opposite. but an investor who understands bitcoin investment does not panic, because when they panic they will think carelessly and maybe they will sell their investment at a price that they should not sell. so just focus on holding and consider buying bitcoin back using the spare money that we have prepared in advance.

They actually have to be prepared for the risk of current market conditions because however the market can move beyond our predictions, if they are not ready to accept the current market price then try to save your money to buy at the market price you want, for example a realistic target price of $50 k or below $45k, so they are mentally more prepared to accept market conditions than the current market price is still relatively high according to my review, so I still have reserve funds to buy at a lower price than the current price.

Current market conditions are difficult to predict, for beginners like me it might be an advantage if there continues to be a decline in prices, I can buy at a slightly cheaper price. with the spare funds I have, but I'm not sure if the price drop will be less than $50k.

Yes, this is a good opportunity for someone to buy bitcoin, now that Bitcoin is dipping continuously we shouldn't complain, instead we should buy when we have the money. Yesterday I watched a video when a dude was complaining that anytime he buys the dip the dip will continue to dip and I was like this man shouldn't bother at all because Bitcoin is dipping for a purpose. However people who complain now that Bitcoin is dipping are not using a good strategy to accumulate Bitcoin that's why they are not seeing the better side of the dip. Moreover we already know that Bitcoin will skyrocket after this dip so I don't see any reason for anyone to complain, there is always a passive purpose as Bitcoin is dipping.

I can't really predict what is going to happen or what may happen in the future. But in my personal opinion if Bitcoin goes on a further correction I don't think it will go below $50k, but I don't think it will get to $80k very soon. With the current bitcoin dumping I think there will be a good opportunity for many because if we keep investing in bitcoin in this market we can expect a good result at the end of the year.  Many may be hoping for a further drop given the current dumping, but I think it's better to invest now rather than hoping for more dumping, if the price of Bitcoin starts to rise I think it would be foolish to miss the opportunity.

I do hope that before this week ends again, we'll be able to see it back to $60k, if that's possible. But who knows how soon it is going to be.

For short-termers, this should be their thing. But for long term holders, we wouldn't mind whether a crash happens again.

Exactly.

We need distraction and that's why staying off from the market is what one must do. Don't look at your portfolios and never check the market, go back on it after a day or two.

Not yet for this Monday, it's closing to $56k and we're $4k away from it. Not a problem but as long as it won't go below $53k and $50k, we're fine.

Even we didn't follow the market since 2016, we should understand that there are many factors to trigger the price decreasing severely. We have the news about MT Gox to send a big number of Bitcoin to creditors, this surely makes sense to influence the market price. Just image if the creditors sell the big number of the Bitcoin, the supply will increase significantly and the price drop quickly.

Related news: https://www.theblock.co/post/303594/bitcoin-dips-mt-gox-moves-btc

Yep. We already saw the same way in the previous cycle that the price dropped quite a lot after the halving. It will increase gradually when it is nearing the new ATH in the next year. Decreasing 30% - 40% is quite big, but it is still reasonable because we have some negative news recently. However, I am also the same as you, I no doubt with Bitcoin future. When the negative news is over, there should be another rally on Bitcoin uptrend. I assume in Q4 of this year, we may see another rally for the new ATH of Bitcoin.

DCA can be done any time as long as the price looks far from the next ATH. However, sometimes the problem is about capital, we often has no longer money whenever there is a big dump.  ;D

I think it will hugely depends on the future mt gox settlement of the distribution of credits, that will be the one that determine whether bitcoin gonna tank below $53k or not, because honestly speaking if it were to go down below that, i will be readying myself for the DCA.
the thing is, since government dumping has made quite the impact, people are hesitant to DCA or buy at current price, but at the same time, mt gox distribution which gonna takes 3 months, is distributed to individual, where each of them gonna make their choices, whether majority of them gonna dump, still yet to be seen, but knowing that they bought BTC at really low price, the chance of them dumping is quite high.

Who would want Bitcoin to fall especially those who have invested a huge amount in Bitcoin, given the current situation of BTC there is more fear of the market going down. People including me who started doing DCA when it was at $65k have already invested a good amount of their money in BTC and now can only hope that it doesn't go down further and the market remains stable or starts going up soon. Indeed, it will not always be profitable or the market will always be up, so those who say that the market will not go down are just reassuring you or they are marketers. Don't understand that much about it.

As for the rest, only time will tell in which direction the market will move next, but we should hope for the best and we all are hoping for the best because we have seen BTC earlier and we know what it's capable of. For us, this is not new but a long wait.

Yes, of course for some people waiting for a moment like this, yes, the opportunity will never come a second time. If someone has bought at a decreasing price like this and in the future experiences a decrease again, I think this is a normal thing for an incident like this. In my opinion, people who complain are not not using a good strategy but they are not ready to lose their money, usually people who have experienced, of course they won't complain, in fact they are waiting for a moment like this, which is what investors always want.

Back above 56k back above 58k even but its too late.   Big thing now is the 200 day average kept on rising and is now overhead of the current price.

 We need to recover half a dozen different factors to properly regain positive momentum in an assured way.  There is some hope in that the 5th July sell off day was a pin candle which is considered bullish.  1 day doesnt mean anything by itself but we have done ok since then.  If July 5th is now the low of current action then a build in price is underway.  Stay confident so long as we continue in a similar manner.

Next thing to watch will be late June action and beating 60k to 63k will right much of the threatened sell off that was extending forward before us.

This is the very reason why if you will invest a significant amount of money on this market, you should be ready for this kind of market movement as you can't always get the target price that you want. Also, it should not be the only asset that you are holding onto because if you have urgent financial needs, selling at a loss is always at bay.

Since this market is still very volatile, you should expect a roller-coaster ride of your funds. Even if we say, btc market has already established its position, still it is understandable to feel the anxiety when you are seeing the price to go down below your buying price. Hence, most long-term holders have strong belief about the capability of btc, in terms of how it can increase its value in the coming years.

It seems like it will be a little difficult if you want a Bitcoin price below $50K because today the Bitcoin price has almost returned to $59K, which means you only need the courage to buy at the current price if your dedication is to make a profit in the next month. And for now I still think that in the next month Bitcoin could get even more price increases as long as there is an influence that can trigger more Bitcoin buyers in the market. So it would be better if you want to make the decision to buy Bitcoin now rather than continuing to wait for low prices, which I myself am also not sure about someone's courage in buying Bitcoin when it has fallen a lot.

There is an opportunity for a price below $50k to be reached in the next price correction because price recovery does not guarantee that the price will last as long as above $55k, anything can happen in the crypto market and if you are targeting a price below $50k then you have to be patient waiting for the bearish market price. I think the main key is patience because everyone regrets missing the initial target because they thought that price would never be touched but the reality is that the market can fall below $55k regardless of any issues and cases that affect the crypto market price.

I'm not waiting for a price that low even though it's a price that isn't bad for everyone who wants to buy Bitcoin again to wait for, because today we can all see again where the price of Bitcoin has started to recover slowly until it has returned to past the mark. $60K. Even though it still tends to be small, it is also a good achievement for those who bought more Bitcoin when the price was still $55K a few days ago because the current price is a fairly profitable price for them with a fairly short duration.

Apart from that, we all also have to continue to monitor market trends in order to avoid making wrong decisions and also have to remain patient because if the trend has started to move again and is heading upwards. Of course, we all also have to move to immediately buy Bitcoin again with the reserve capital that we have been saving so far.

We do know that dealing up with this market then it would really be something that pertains about risk taking whether you are basing up with some technical analysis on why you do come up with those prices
or simply you would really be having those kind of price speculations and projections about into those potential drop price. When dealing up with this market then it would really be that understandable that
anything could really happen because TA's or FA's wont really be giving out that 100% precision on where prices could go and this is something that you should really be baring up into your mind on dealing up with this space.
On the moment that you do find yourself having those kind of projects and ended up on getting left behind because the price didnt go as low as you had predicted then it would really be giving out that kind of disappointment
on which it would really be leading into that impulsive approach and this is something that must be avoided in the first place. We've seen on the current market condition now that the price is really that making up some
recovery on which you would really be telling that we might be seeing 70k soon instead of 50k levels but actually there are still some people who had been having those thoughts about deadcat bounce
but basing and looking around then it doesnt seem to be that way.

And we can also say that we didn't expect the price to go up to $63k but now just because Trump got shot? So there's a lot of thing in this ecosystem that it's really hard to explain, especially how volatile it is and probably that's why we love this market.

Very unpredictable, and it's going to make or break a traders mentality in terms of how he will do his trading strategies. And then for the investors, we will have what we call diamond hands and then those weak hands that will sell because they don't like what they see, and they think that they are going to lose money because of how it went down to $54k. But in matter of just 48 hours, now we have bounce back already.

Expect the unexpected and this is something which is really that very normal when it comes to the movement of this market on which its really that a common approach that you would really be needing to adjust
on whatever the price would really be that looks like.Always be that sensible on the actions that  you are taking and never ever make yourself that panic sell on the moment or time that you've seen the price is already that making those ups and downs. Expect the unexpected indeed on which same as you said. The ones who would really be able to survive this market is to those people who are really that wise on making buying and selling decisions.

The price is really that volatile on which there's no way on knowing on what would be the next movement and there's no way that you will really be able to determine on where it would be
going but at least you do really know on what you are doing. This is why on the time that you would be dealing with this space then you should really be that prepared
on what are the stuffs that you would be making.

It it goes up to $68,500, and I think this is the biggest so far for this month and we still have a week before the end of the month and I thought that we could get as high as $70k. But we will have to wait, for traders, there could be some strategies to make quick profits.

But for long term holders, nah, just go and buy as much as you can specially during the dip to $54k. Or for today, continue to do DCA as we are looking for at least 6 digits for this bull run. And as for the $56k, or $54k, this could be the bottom for this post halving in my opinion.

The 200 week average is down at 37k but that represents the worst case for a market and BTC is no where near that bad so the 200 day average is more relevant a guide.  We just traded that area and resolved it positively after some trading.

Right on the 50 week average is 50k and we'd really have to lose this whole year first to properly negative, it doesnt seem to be happening or even threatening.  I expect selling but nothing so serious to negate gains of 2024 properly, eventually we will rise so regular buying seems fair to me if you are capable of being involved long term its much easier.

That's true.

It's hard to find an answer how volatility of Bitcoin works. But it seems that the politics that's being tuned in in the USA has been affecting the market.

Looking to the price that OP has given, it's more unlikely that it will be there but don't say no when volatility hits hard the market. Maybe not now, and we've seen the lowest for this cycle that it can be just after hitting the ATH.

$100,000 is six digits therefore your predictions can happen because I also think $100,000 is going to be the lowest highest price that Bitcoin is going to be trading at by the end of the bull market and this is what makes me very excited about this bull market that I am a part of. I missed other bull markets because I was not yet into Bitcoin but I will not miss the present bull market and other bull market coming. We should just be buying Bitcoin with DCA and not get worried about anything that is happening to the market. If the price of Bitcoin keep dipping, we should continue to DCA and accumulate Bitcoin because at the end of the day, we have set ourselves in good position to make profits when Bitcoin gets to a new highest price and it is going be a minimum of 6 digits price in the long run as you have said.

Which is why I'm still prepping (deep down) for something that bad, or at least enough to cause some concern. We're months past the cycle where something ought to have happened that's painful, and yet still surfing well above the current.

Personally would be bummed if the cycle we're so used to really is over. Need that 200MA worst-case to at least threaten.

As much as we are well aware of these opportunities when the market dumps and as at about a week ago, it dumped to below $56k which offers a buying opportunity, investors still likes the idea of having to see price appreciate, well above where we bought or even, well above highs that were maintained for a time.
Of recent, price have been on the recovery, gradually pushing towards the ATH and from the way it’s carrying, we can end the month with a price range above $65k as it is already and not below.
One can always anticipated the unexpected when dealing with Bitcoin and it’s been even more unpredictable after the halving.

To gain profits in Bitcoin investment depends on investors responding to the conditions that occur in the market, anyone who dares to take risks on what they have invested so far will get a commensurate profit. Price fluctuations have played an important role in providing profits to investors, investors who had already bought at a slightly higher price and then the price decreased again afterwards, they had to increase the number of assets when Bitcoin started trading at a cheaper price. The risks contained in Bitcoin investment are in accordance with the results that will be obtained, supply and demand have made investors enjoy maximum results, a good moment to buy when the price is down and then sell again when the price is high.

38k is not possible to be seen again in this month already month has runs out, today is 25th July 2024 so if I'm not mistakenly we have less than 6 days to run out of July to August although anything is possible in the crypto space but it is not certain that the price could drop so low to the extent we would see 38k but however news may carry it to around 60k to 45k but seeing of 38k could be hard.
Instead we may likely see a surge in the market just as we witness it is a price rise back to 68,000 dollars unexpectedly and draw back to 64k currently so likely anything is possible.

$38k will probably only can be seen around bearish time after we're done with all the bullrun.
people who thinks that BTC might hit $38k low for this cycle of bullrun should also know that BTC is more stronger than ever, ETF helps grow BTC market cap and volume and it will not BTC to go below $38k again unless we see another bearish.

If any, $54k again probably possible but that's it, it will be the bottom of this cycle.

Now those who have bought at $55K have also started to smile again when they see the current Bitcoin price which has increased again to reach more than $68K in the market. This means that in addition to the patience that must be in ourselves, the belief in the increase in the price of Bitcoin at the end of this month must also be there because in fact Bitcoin is already in demand by many people so that it can cause the price recovery to take place so quickly in the same month. And now everyone can probably make another target with a higher price in Bitcoin before entering August this year.

They have capital and the mentality is very lucky to be able to add assets at the lowest price of $55k after the last ATH, I'm sure they implemented DCA investment so that they will increase crypto assets at every low price in the market, I didn't expect such a high recovery to be achieved in the same month and this seems to be very related to the western political case which is currently the main topic, if the price of bitcoin can reach $70k this month then we will definitely see the next ATH reached soon.

We are still not sure about the bottom of this bull run as far as Bitcoin remains below $70k, the chance of it going below $60k also gets higher. And, if somehow it falls below $60k once again due to a bad news or fud then we might see it dump below $54 if the intensity of that dump gets severe. That's why we aren't yet sure about the bottom of the cycle yet.

The price level of $70K could be reached again in the near future if the price correction is not too big at the end of this month, but for a new ATH again I think we all still need to be patient because considering the current conditions are still influenced by sensational news that can have other impacts on any market including the crypto market itself. Currently the Bitcoin price range is still at $67K more even though it had increased to $69K more yesterday which made more people excited again to see the price level exceeding $70K, but unfortunately that did not happen yesterday in Bitcoin.

Right now to close out the week we are seeing BTC price action push past the 2 day average.   We pass 68k on the week to closing with a 70k price possibly.  

What I wonder is how this action at the peaks reflects towards that lower low across multiple months and if July being so negative at the start matters now.   I want to see if a repeat failure to approach and defeat 72k just like happened twice in May and early June will matter now.


If we do attempt 72k with volume but fail to surmount this point.  Will it then lead fast down to 56k or lower prices.    My first thought is this wont happen because recently the price has only sold off smaller amounts before trying harder.

   It has all been happening now in just days rather then the months previous of repeat, is the tempo rising and chances of new prices & new ATH now greater.

When it comes to technical approach then its indeed on point that volume will really be that significant whether it would really be able to have some breakout or would really be just that totally be rejected again
on trying to break that ATH but of course we shouldnt really be that trying out to neglect nor trying out to forget fundamentals too on which i dont see that we would really be breaking ATH soon on which
considering that news or sentiments around are really that negative. Although it wont really be an assurance but these huge sell offs news are really that driving the market on negative state.
As for expecations about price movement then of course it would really be always best that you shouldnt really be expecting something positive. Always take caution and be wise on taking up position and exits.

We are far from going back to that price benchmark for bitcoin at least not in this season, bitcoin will  take a long time before seeing anything close to 56k because at this point, bitcoin is more focused on touching 70k and trying to stay above that price bench limits for a while now which has resulted into constantly resistance around 65k to 67k at most times and we should at least allow the positive vibes to continue for a while, bitcoin have really done well in this season at for some reasons we are going to be playing a resistance role for a while since the entire cryptocurrency market have been on recovery note for sometimes now after the last all time high for bitcoin and a few of other altcoins, most of the time, majority's of bitcoin market analyst failed in their responsibility to properly predict the price bitcoin will go and even though they have some available materials to work still yet the Fail to apply them properly, but still on that based on my experience, bitcoin won't touch the 56k for any reason even if there is a bad news to attack the market it won't bring bitcoin to it kneels to the point of touching that 56k.

that's true however institutional investors seems very unfazed about the potential of dump and instead keep on accumulating but can't deny the fact that there's always potential that market might fumble and it went down below $54k but honestly $50k is probably as low as it can get since even with current price the ETF flow still positive

https://i.ibb.co.com/ngYhC5V/infl.png

can imagine people are readying their money to buy BTC if the price ever hit below $50k which means great resistance.

I don't think people will be willing to buy if bitcoin drops to $50k, instead there will be panic covering the entire market. Because if people are excited about buying DIP, bitcoin will not be able to reach $50k, people will buy massively when bitcoin falls below $60k or $55k and it will become a hard support prevents bitcoin from falling further.

Many people always declare their willingness to buy the DIP but when that happens, not too many people will dare to buy. I bet you that if bitcoin unfortunately drops to $50k, many people will tell you that they will buy if BTC drops to $40k. The market is like that, it always knows how to create fear for us instead of bringing us excitement.

And with ETF flows still positive in Bitcoin, to expect a low of $50K will also take a little longer because after seeing a price of $70K at the end of last month, everyone has been faced with a small correction at the beginning of this month which made Bitcoin back to $65K. So that could also be a sign that the level of price resistance in Bitcoin at a certain level is still quite strong because there are always buyers in certain areas until now and people who expect a price of $50K as a low price have to wait to see that in Bitcoin.

Very true, the institutional investors are trying their best to increase their Bitcoin holdings by accumulating more of it when they see dumps.

We may hear some bad news coming many times in this bull run and that might increase the intensity of the dumps due to overselling by the weak hands.

It's quite hard to see Bitcoin dumping below $50k but if that happens then surely most of us will accumulate a lot of it and keep it with us for long term.

This will be your lesson to be a hodler. In the past we all panic-sold when it seemed like Bitcoin was going to fall. And sometimes, it did fall. But it always recovered higher into untouched price levels.

After the rejection occurred at the price of $70k, it was a sign that bitcoin could not break the $70k level at the end of July yesterday, and seeing the current structure does have the possibility to fall back in the red zone in the first week of August, the lowest price level of $54k which was the last defense of $50k that was raised in my opinion it will not be touched, most likely today we will consolidate again in the price range of $60k-$65k.

Bitcoin investors still continue to accumulate, especially the big ones, including Microstrategy, they are buying again, on the other hand I also see that the rejection occurred yesterday at $70k because of the Fed's decision to maintain interest rates, then we will get a position back in the 3rd and 4th weeks of this month because of the pursuit of the possibility that the Fed will cut its benchmark interest rate significantly which will affect the market to be very crowded again.

You should be surprised seeing Bitcoin price falling or depreciating in value, because I know very well that since existence of bitcoin it always increase and decreases, so that has been the nature of Bitcoin and we don't need to panic when we see the price bitcoin fall's

I could Remember vividly when the price of bitcoin is directly on seventeen thousand [17k] and nobody expected that price of bitcoin right now will skyrocket to this particular amount it is right now, so I know that bitcoin price is unpredictable and it's rotational from my basic knowledge

I know that people who has not know bitcoin very well will be afraid or panic whenever they seems the price of bitcoin reducing in price, I know that not everyone that cannot endure the pressure of bitcoin decrease after it has increase in price

When this topic was made we were in a similar kind place as now.  Price now is back to the 200 day average, unlike at July start I dont expect it to be weaker then it was.  Its already a higher price but it could be we just have moved before 50 day and arrive at the 200, which is where we then rise.

I dont see that as occurring now but I think its possible.   So far because the 200 day is reflecting long term gains, is still rising we are actually higher and havent even lost 10k from the recent peak.   July start was genuinely threatening alot worse where as right now is mostly profit taking as of now.

It did correct to the $60K level briefly before returning to the $61K level and is even very close to the $62K level at this time. I think this is another opportunity for Bitcoin buyers in large numbers because from the price fluctuations that we saw last month, of course we can still take a reference where people who bought at the $54K level have made a profit when Bitcoin returned to $70K at the end of last month. And for this month I think the same thing can still happen again to Bitcoin, although we must also remain vigilant with a deeper downward trend in prices.

When the price of Bitcoin was slightly lower in July, there was a excitement among investors that August would probably be bullish, but the Bitcoin price dropped to 60 in the August hint, and it is not difficult to understand that the price may reach lower than 60k. And in this situation those who collect bitcoins will definitely be profitable. Meanwhile those who are doing DCA can collect significant amount of Bitcoins. Although I think this bearishness will not last long. Bitcoin will be heading upwards again in the next 2 weeks. Chances of going below 56k are very low considering the current time. But investors must be prepared for any unexpected incident.

If the bitcoin price journey again is the same as in July to reach the $53k price level and then we get another price decline rejection at that price level, most likely we will get a double bottom pattern and will retake the bitcoin price and re-enter the side ways arena or could be a bullish zone again.

We seem to need to be prepared to get more BTC at that discount price, right now the decline seems to continue and continue, the $60k price has been tried and bounced, but the negative atmosphere still continues and will certainly experience another decline if you pay attention.

For that, I personally am still a little hesitant because in the last two days I have seen the price resistance at the $60K level is still quite strong and is still in that area until now so the possibility of seeing the Bitcoin price again below the $55K level seems a little slim even though it is not impossible to happen again to Bitcoin in August. But on the one hand I still think that Bitcoin will move back up from the current price before showing sideways in the market for a not so long duration.

The Bitcoin market had a big rally towards the end of July when it touched $70,000. But in the new month of August, the price of Bitcoin has decreased a lot, below $60k dollars, the price of Bitcoin has dropped even though it is now in a dumping market. But it can be expected that in the coming days, the market speed will enter the positive direction and the value of Bitcoin will increase. I think the price of Bitcoin is likely to be around $55k in August but will definitely touch $70000 again if it goes up.

Now it's said investors are fearful of recession in US. Jobs spots created didn't match the expectations and it lead to a wave of pessimism in global markets, what also affected cryptocurrencies negatively. It's bad news for everyone, but especially for Democrats, as it will be seen as a failure from their government.

It means that on middle term it can trigger Bitcoin price positively, as Trump is likely to be favoured by Democrats' failures, and in the current stage, Bitcoin investors are more optimistic regards Trump than Harris.

Anyway, despite the bearish scenario, Bitcoin is still holding position at 60,000$. It has just to resist a little bit longer until a new bullish tendency takes place.

We have seen a price correction and increase that happened so quickly last month so I think the same thing will happen in August.
At the beginning of this month we saw a fairly sharp price correction and it even just dropped below 60k but I am still quite optimistic that this month there will be a significant reversal movement, just like what happened last month.
So just enjoy the price correction that is happening now, if necessary we can add some Bitcoin when the price is down, this can be a good use of the moment and we are ready again to see a fast positive movement.

Price volatility is something that you would inevitably be able to encounter on the moment that you do step your foot into this market on which it would really be that something recommended that
making yourself that getting prepared at least on the things that you would really be that dealing into specially into this unrpredictable or random space. Who had been expecting that the price dips @60k?
We've seen the price did make out some upward movement on the time that those positive sentiments did really make out some noises recently but we did really end up into that huge negative or price decrease/.
Expect the unexpected as always on which this market is really that not something that you could really be able to predict on where it would really be going.

There are even talks about dropping below 50k on which if this one happens then it is really that going in line into those previous years when it comes to August drops
and thats why if you are emotional then you would really be that primarily thinking that you must really that sell to cut losses on which this is really that a suicide thing
to be done.

Bitcoin has disappointed us all in 2024, it has been a wavy pattern other than the reliable bullish slope that people expected, and certainly, halving has not helped either, let's wait and see, maybe the effect will start materializing in October as it did after some of the past ones. But I doubt it this time, different patterns are unfolding that will not let that happen.

Now, I advise us to watch out for between $55,000 and $70,000 it's possible Bitcoin ranges within those regions for the time being. However, a break away from either of them, especially if the market had a weekly and monthly close above ($70,000) or below ($55,000) levels, it could be a serious pointer to where it's heading afterwards.  

And to be precise today really tested the $58k level, and as we talked about before this will be a continuous decline so that the market returns to take a breath, the $56k price level and the $53K price level will be the highlight of this decline in my opinion, so that we need to be more careful in making entries.

This is almost unbelievable to me personally too, but the negative sentiment is affecting all of this, and my view is that this negative sentiment is strong enough that some traditional investors have fears, including the escalation of Iran starting to Israel heating up again as well as the US economy is under threat, this allows US interest rate cuts to take even longer and stay at 5.5 basis points, keep doing DCA until we can see the eyes of the day at the end of the year sir.

There is clearly fear in the minds of all investors including traditional investors as you said that through some of the things you mentioned that made the price of Bitcoin go below $50K even though at this time it has recovered and is approaching the $58K range again. And actually I am also quite worried about some of the influences that you mentioned because at this time these things will still be a cause for making the market remain abnormally volatile, although at this time at least I am also starting to feel a little relieved when I see that there is an immediate recovery in the price of Bitcoin itself.

of course not a few people are worried about the uncertain market conditions and the decline that is very much in the forecast of many people, but we need to see again that indeed the sentiment is now improving, although there is still fear of a bull trap.

But the starch in my opinion is that next September when the Fed cuts interest rates will provide a fresh aroma for the Bitcoin market, so the continued election in November will make us even more excited in the market, especially since bitcoin narratives are now very popular among the US political elite, this will be an extraordinary drama for the growth of bitcoin adoption.

Today we just need to collect it slowly, precisely tonight bitcoin wants to touch the $60k price level again.

Today the price of Bitcoin is still in the range of $60K even though it had increased to more than $62K in the past two days and in general I am starting to be less worried about market conditions when I see a little price recovery in Bitcoin like now. Because some of the things you said could have a positive impact on Bitcoin and the crypto market this year, and moreover, there is a US presidential candidate who is also very fond of Bitcoin, so there is a better potential if the candidate can win the election in November.

No one knows if bitcoin will back to 38k$ price all we know is bitcoin price is unstable it moves everytime from low to high and from high to low so there is no need to be astonished if you follow bitcoin from year 2016 till present you will see a lot of high and lows and the people who hold will always win or earn profit.

I think bitcoin price will never touch $38k this month is a completely wrong analysis. Because we know that the bull season is waiting in 2025 and at that time the price of Bitcoin is likely to exceed $100k. As the price of Bitcoin hit its all-time low of $49,000 this month, most people were worried that Bitcoin might fall further. But we can now expect hope to return from the upswing in the Bitcoin market and expect the price of Bitcoin to rise further in the coming days. However, since the Bitcoin market is currently above $60,000, we can expect $70,000 by the end of this month. As the bull season is coming soon we can see and look forward to it then the price of Bitcoin will increase even more.

I hope you're right, Bitcoin_people. We will see it back from vacation, as I expect the last quarter of the year to be the time when we will pass the ATH by large and enter uncharted territory. If price doesn't get it, it will be a difficult situation because the trend of cycles that we have seen  so far will break, and that could be uncharted territory too, but in the worst sense possible.

Anyway, I'm optimistic, and recent news predict a bright future that I hope will come true.

If you find the market fundamentals turn very negative for some bad reason, then you may find the price of bitcoin falling very deeply.
Several factors can be used as a benchmark for analyzing future prices, one of which is circulating news. If FUD about bitcoin increases, the price will fall accordingly, and vice versa when the price will rise.

Exact prices are difficult to predict, but you can determine whether the market will grow or fall by finding several reasons. Currently the market is unstable, I mean not very positive after falling to $49k, but the market is starting to recover where bitcoin is back to trading around $60k.

Bitcoin market price remained an unpredictable thing to do, we may not be precise on the exact rate of how dip it may go and also, we cannot tell on when and how fast it could pump in favour of the investment we are making, as we see some few days back, the market plummet down to $48,000 before pumping back to $62,000 and were it is now, this is part of the expectations with the volatile market because we are going to see it at any direction.

Q4 this year might be a special year for bitcoin, there is a lot of bullish sentiment from the economic macro for bitcoin, even if the correction returns in my opinion it will not be separated from the price of $56k, this will not be repeated if you see the current situation.

The biggest fear is the escalation of the war between Iran and Israel, if this involves more countries in conflict it could be the worst negative thing, we know that these two countries have their loyal friends in running their business and strong government, if it comes to blocking the industry it could and become a conflict between two associations or camps will have a bad impact on the global economy.

Indeed, the price of btc will always be difficult to predict. This was seen after the global market crashed and then caused the crypto market to fall, even bitcoin fell to a price of $ 49k on August 2 yesterday. However, after a few days later bitcoin slowly began to recover and indeed btc seemed to be the spearhead in market recovery. Because after BTC fell to a price of $ 49k with a decrease of % 20 but now BTC has returned to $ 60k, this means that BTC has also recovered and grown by % 20.
After bitcoin broke through the $ 62k mark even though it is now holding for a long time in the $ 60k area, this indicates that the market is improving again and it is not impossible that btc will continue to soar in the next few months. So even though btc is difficult to predict, it would be better if we continue to do dca on bitcoin and continue to hold btc until the desired target is achieved. The price of btc is indeed volatile but we must avoid decisions caused by panic.

I think the market can be predicted, it's just that the exact price is difficult to determine. We can predict what price range will be in a certain time period when doing analysis, but it will be very difficult to say the exact value. The existing volatility should be considered normal and it will always be beneficial for those who are able to maximize it. Investors who have strong capital will buy a lot during price drops, giving them huge returns.

The best thing to do when prices are falling is to hold and continue accumulating. The problem is that not everyone can do it, while some panic and accept the loss. Bullish sentiment will likely come in a few weeks or months, but the market will take time to recover.

56k is still not that far away and we have to sort out that yet again we made a new low in this sequence.   That I presume must be tested and proven finished before we move on.

However away from that , a new factor is the 50 day average trading below the 200 day.  Since late last October the 50 day has been above the 200 showing the positive momentum and gains that were occurring regularly in the price.  

Even after the recent double digit % gains in one day its not been enough to alter these longer standing averages.  We have slowed down enough to say that BTC is not gaining overall.  Nice start to the year but its become caught up here.

I call this consolidation, I wont opt to say its bearish but without doubt this crossover of 50DMA below 200DMA shows slow down.   This condition last appeared as a trend in 2022 which saw a great pullback.
  I say its consolidating but also pullback  has to be written down & considered as the next period for BTC


Last days of 2023 I wrote in a poll and posted 60k as my guess for 2024 end (Dec).  We're there now but I doubt we'll stay flat for months :D

I also think so, but every different possibility can always happen in the market so everyone must also be more prepared to face the level of Bitcoin price correction in the market when approaching Q4 this year. Although I am still more optimistic about the price increase at the end of this year because there are many parties who are happy enough to buy Bitcoin and continue to hold it until now.

I hope this doesn't happen because if it could happen this year it would most likely have an impact on all markets including the crypto market itself. So I just hope that the impact of the war between the two countries doesn't really affect the market if indeed the war cannot be avoided because each country still has an ego in showing their own abilities.

Of course even though we are optimistic about the bitcoin outlook in Q4 but we also have to understand because the name of disaster is not in anyone's calendar, something that cannot be predicted always comes and it is a mystery in a future journey, we must really understand the possibility of bad even though it is quite optimistic bullish in front of the eyes in order to manage the risks we can take at this time.

Yes you are not alone in such expectations, because if it affects the global economy it will be very painful for any market including bitcoin, hopefully it does not affect bitcoin at large, and the fear is just like a war like the wind.

Yeah, could you imagine the price in the next four months the price is going to be on the on the $60k'ish?

I doubt that it will happen though, no offense to your prediction, although the price today is $57k from the highs of $61k we have seen in the last couple of days. As for the OP, yeah, no one thinks that it can go down low at this point.

But this is Bitcoin market, the very definition of a volatile market. In the early beginning of year or prior to the halving, we have a new all time high. Now post halving, the price seems to be tanking.

Dangerous words when nobody thinks it can go down.   Like those are famous last words, the market is a tricky beast that wants to snap back and bite us always.

I do see weakness right now and tellingly the volume is not there on positive days to really assure me we are past the worst of selling, I think more scares happen.   However lower prices are what I prefer because Im still wanting to buy into weakness & if anything  lower means a better price in exchange for what Im going to do either way, set a buy order.

Agree on the volatility, but its time to take the tiger by the tail and be ready for that fight.   I think we are going up eventually but should not ignore all negatives such as the 50 day average falling below the 200 day.  There is quite a few signs of weakness but its short to medium term and overall I find 2024 to be positive and accumulative.

If we dont regain 58k by midnight, ring the bell we are bearish [today onwards, weekly also we are negative].  Certainly the weekly bar needs to be above that measure, it seems it wont be.  Last week was a recovery and the hope of more, this week its slipping away right in front of us.

We are 118 days after the having.
Looking at the past price actions, if we consider the combined (average) data from the last 3 halvings, we should now be above the price at the halving and in the middle of bull run.
But each halving had a different timing. i.e. in the 2016 one, 120 days after halving we were also below the halving price and it took around 150 days for it to go above that. So I wouldn't worry to much about the price at this stage.

Sometimes its always that important to look up into the past specially into these similar condition specially in speaking about post-halving thing on which we could really be able to count numbers
and making up some comparison in between cycles on which the days different and on the value that it is really be involving into it. Seeing up those values does really indicate
that this market is really that truly random and there's no way that you could really be able to predict on what would happening next. Take a look for example about those recent dip of 48k and then the price
did make out some recovery and hitting up 60k and now we are going down again. These kind of movements would really be that basically making you thinking on what the heck is happening
into this market?

This is why it would really be that important that you do come prepared for whatever conditions that you might be able to face on when dealing up with this market. Always expect the unexpected
and always prepare for some USDT on which it would really be something relevant on the moment or time that you would really be seeing these market dips on which you could potentially
make yourself have the chance to accumulate or making those good entries on which later on it would really be that giving profits on the time that the market will recover.

Do you consider this based on the data of Bitcoin monthly return (https://bitcoinmonthlyreturn.com/)?
If you take a look closely, we mostly have red market in August-November in the first year of every bullrun season. Kindly check the market trends in August-November of 2020 and 2016! So, it is not really surprising if the price is not rising significantly now. And we must be aware that the ATH has been achieved before halving in this year, we have a bit different pattern with the previous bullrun season.

It is true, each halving may have a different timing. Sure, we don't be pessimistic because it is something normal. There is no certain pattern of the price movement of Bitcoin, it may change at any time. As long as we still have good news about crypto and Bitcoin, we must be optimistic that there will be another peak of Bitcoin price in the remaining time of the current bullrun season.

It can still go down just like what happened today. I think another news came in that this has something to do with what Warren Buffett does. He knows something that not the majority knows. He's cashing money and waiting for a great dip I guess and when he's done, we'd see the market to become stable once again.

I'm still believing that we're on the consolidation period and count it, maybe 3-4 months and we'd see how stronger the bulls are. Right now, we're seeing the correlation of Bitcoin to the global market. But when it's done, we'd see how high it can go like no one has ever predicted or probably some and believed that it can be reached for this cycle. There's still more to go for this year and next year but it's true that don't be too overconfident that it cannot go.

We're likely in there but I believe that there's always the uniqueness for each of these bull runs and after halvings.

In addition, in the last 2 halvings prior to this this year, we have haven't seen the market getting into a new all time high pre-halving. So this is the first time that we have seen and it might have change the course of this bull run already.

I'm not saying that we won't have a bull run, but it could have been invalidated what the combine (average) data of the last 2 halvings plus this one. We will eventually reach bull run, but we might have to wait a little big longer, like 150++ days or even more in this version of the halving + imminent bull run.

I think this year is not the year of bitcoin, we have seen bitcoin touches 70k $ milestone and then dropped to in between 50k to 57k dollars. Many analyst predicted that by the mid of 2024 bitcoin will cross 100k $ milestone but bitcoin failed to break the 100k$ barrier. As we know the world is facing economic problems so there will be no huge pump this year.

In addition to having to understand the bad possibilities that can still happen in the future, everyone also needs to be more prepared to face these bad possibilities because when it comes to bullish and good trends, everyone is definitely ready to face them except those who do not have Bitcoin or other coins when they are in a good trend.

It's not about not being alone or being felt by many people, but something like that is something that maybe not everyone is ready to face, including myself. So I just hope that the conditions will remain fine and not affect the worsening of the crypto market because of this. Because when there is a price drop in any market, everyone should also have time again to see the reversal.

Basically everyone tends to be more prepared in good things, bullish trends will always be easier to accept than the opposite which causes panic, it is in line with human nature in general, but indeed as an investor must really understand all situations whatever happens and be ready to face it, especially planning to invest in the long term.

Yes, but unfortunately they don't see that, usually someone is more likely to panic when the price percentage drops and look at the daily chart, without looking at the monthly or even annual chart to assess a movement in the market, the fluctuation is a natural thing whatever the sentiment, but we must believe that bitcoin will definitely come back and make new history.

To say that this year is not the year of bitcoin is not true. This year is still bitcoin's year. This is because in this year, bitcoin touches new ATH.

https://imgvb.com/images/2024/08/19/42bb2fca5b61223cae7efd02240da0bf.md.png

To be honest, I don't really care about those wild predictions by some analysts. Most predictions are not serious. They are meant to create FOMO in their followers. BTC has not even passed 80k, and 100k seems far away or almost impossible to achieve. I don't think the economic problem is the key factor, but bitcoin is now always following the US market.

It goes up and down based on the US market. As long as the S&P 500 or US stocks don't reach new highs, BTC will be stuck at the same price.

That is a bold prediction you got there. However, I will ask a question, are there greater economic problems than the pandemic we have in 2020-2021? And during that times, Bitcoin market has survived and even had a bull run and new all time high?

So what makes it different from today's situation? yeah we have the war in the background, but it has been ongoing for quite sometime now. Although there is a new war brewing in the Middle East, but still we also survived that situation. For me, we will have the bull run in the last quarter of the year and we will established a new all time high in the 6 digits.

There is no chance that the Bitcoin market will reach $38,000 by August. I think those who think that bitcoin will stay like 38000 dollars by this month of August are totally wrong but yes bitcoin went down by this month of August but it was at minimum 49 thousand dollars. Bitcoin hit a high of $49,000 and didn't stay there for long before moving upwards very quickly. Currently the market is standing at 61000 dollars but looking at the market condition nothing can be said but it is expected that the market will go higher. Many people may be worried about investment, I would say you should not worry about your investment, hold tight, surely you will get something good from here.

External events that we do have then it wont really be precisely making out such effect all the time in crypto market on which we could really be able to say that its not something that you could really be able to
always connect out with crypto space in relation with the price movement. This is where it do makes even more harder for us to predict on where it would be going in terms of value or simply into its price.
This is why it would really be that relevant that on the time or moment that you do deal up with crypto space then you should really be that making yourself that get prepared for whatever things that you would
really be able to encounter. $56k might not really be that the lowest price and we've seen that we've been able to go below 50k on that last dip but now we are already that recovered but of course there would be no assurance that we wont really be going below again.

Just like that been said by most people that it would really be better to make yourself that get prepared for whatever things that would really be happening because on the time that you would really be finding yourself
that easily panic out on the time that the price goes opposite on what you are expecting then pretty sure you would really be that prone into tons of mistake or decisions you would really be making.
This is why on the moment that the price would really be going low and instead on panicking then it would really be better that you should really be that taking this as an opportunity for you to
buy cheap.

Every year is the year of Bitcoin. Because we have seasons within a year doesn’t mean, winter seasons don’t count as you enjoy summer much better. One season compliments the other and it’s what makes it the more enjoyable.
Bitcoin have got the bears and bulls for a season and it’s what we’ve had to endure all along. Effects from them both. We’ve had the ATH broken even before we imagined it to be in this year, we might as well endure and enduring bearish move on the charts. Bullruns haven’t been known to come immediately after the halving, it always took months to materialize.

Coming to 2024, Bitcoin's value is still relatively good after halving over the past few years. As of the end of August, its current price has reached over $61,000. I think the price of bitcoin will increase further in the future and its price is very likely to go down now but hopefully the price of bitcoin will exceed 70 thousand dollars in the next few months. However, it is not too unusual for Bitcoin to go down as it starts up again and stays at a good level at the end of the day. So I don't see any reason to panic about it. So we need to be optimistic that we should come up with a plan so that we can invest in Bitcoin and hold it in the days to come.

The truth is that everyone should get used to the market uncertainty as a natural phenomenon, it is only that way that anyone can not be bordering much about the market dynamics at every given point, it is better to focus more on buying than looking at the price hence the reason why the DCA strategy is very important and essential since utilizing the strategy does not require monitoring the market but make purchases of Bitcoin irrespective of the price points on different intervals either weekly or monthly as comfortably as one can be.

Everyone got surprised with how bitcoin price drops drastically, but this just like how a volatile market moves. One day you're up, the next day you're down, and it will continue to move like that most likely. However, I'm still excited what Bitcoin has to offer us in the last quarter of the year. It's certain that there will be price crash due to price correction and market volatility, but we also know that price reversal could happen every now and then, so let's just wait and see.

Even lets say that you've been here on this market or simply being already experience and aware on how this market behaves or works but still it cant really be avoided for us to have those kind of impulsive actions on which we know that it is really that normal since we dont really like on losing money. Even if you are really that been long time experience towards this market but it wont really be that something that you can avoid
to have those kind of reactions. Just like on what everyone is really that telling that we should really that expect the unexpected because the market could really be move into those conditions on which we do least expect. Even if we do see the market is on bullish sentiment but movement could really be having that negative approach on which this could really make your impulsive.

We arent that still on a bull run market on which there would really be still tons of possibilities that this market would really be having some serious correction on which if you cant be able to bare it out
then you might really be ending up on being that impulsive. This is why you should really be that careful on the things that you would really be doing specially into your trading decision.

Now the increase in the price of Bitcoin has also begun to be seen again where yesterday and today the price of Bitcoin has almost returned to $65K again. And that could indicate that the market might not be as bad as it was at the beginning of this month because in a week everyone will end this month with a surprise through the increase in the price of Bitcoin.

Panic due to the decline in the price of Bitcoin can also disappear when everyone sees the increase in price like now so that the level of patience in waiting for the price recovery must also be possessed by every investor in any condition. I hope today's price increase doesn't last long so Bitcoin can get back closer to the $70K level before we enter next month.

Every year is a year for bitcoin, even if the purge reduces to staying positive. It's still part of the things that make Bitcoin. Analysts have predicted that we will see $100k this year, which Bitcoin crossed above $70k before it dropped down to $50k, and now it's above $60k.
 
$70k is about 70% of the predicted $100k. Is that not a good sign that we can still achieve the $100k before the remaining 4 months of the year run out? Even though we did not see $100k in the 2nd quarter of the year, seeing it before the year runs out won't be a bad thing to me. We just have to keep our hope alive and our expectations low.

Bitcoin price almost broke $65k today, but it failed and is now priced at $64k. I don't think $70k will be hard to touch again if this upward trend persists until the end of August. $70k is an important resistance that needs to be surpassed before $100k is expected. Since dropping to $49k some time ago, there was some doubt about how long the price recovery process would take, but today we have seen that bitcoin price is well positioned to recover soon.

$100k can certainly be expected over the rest of the year, but this really depends on how the FED behaves in lowering interest rates. Investors are certainly affected by the FED's decision, but the issue of interest rate adjustments has generated new enthusiasm for the growth of the crypto market.

I am not always shocked when it comes to the price of bitcoin. Bitcoin can pump or dump at any moment, so the dump wasn’t really a surprising thing to me, it was an opportunity for people to grab their bitcoin at a cheaper price. Actually,  I was pained because I had no extra money with me to accumulate more bitcoin when the price dropped. Maybe I will be prepared in case another happens. All I could do now is just keep on holding the bitcoin that I have.
 
What I don’t do is expect bitcoin to get to a particular price at a particular period of time. I know that’s really difficult to predict, and most of the people who predicted bitcoin to hit $80k by month end will end up being disappointed when the dump happens.

We are in a range bound price for BTC so no shock should be available to apply when we are just repeating ourselves here.  I'll only take it as new when we are doing something beyond the boundaries already seen.   I do think we can goto 69k next because we've done it before, another repeat but when I look at the volume I see we are not done with the theme of this thread.

The sheer mass of volume at the bottom of the range for BTC here is too big to end by just drifting away and not looking back. Its a battle left unresolved, the Feb prices for this year are going to get reexamined and any wider comparison longer term is part of that probably.    Quite a bit of this repeating price is the involvement of business who deploy buy programs in their BTC accumulation, I feel like some of this is on purpose and nobody wants to pay that highest price so we fall at that point.


Be more confident when the 50 day average is once again above the 200 day.  Not because thats magic but it reflects the time and inertia required for success in truly rising and staying there.

When dealing up with this market then you should really be that making yourself that getting prepared for whatever price condition that the market could bring. It could really be make those extreme dumps or bearish sentiment then later on we've seen the market did make out those huge changes on which it did really resulting up into those neither be profitable or loses on which it would really be that reflecting out on the
on what are the actions that you've been taking and on the decisions that you have set out. Expect the unexpected on which i do highly agree into this word on which we know that it is really that truly
having those unpredictable movements on which it could neither be basing up or not with those sentiments that been shown or currently happening. Just like on what had been said that the market
will really be having that total random path to take on which it would be having those upwards or downwards then it would really be that too hard for you to consider.
Whenever you do make out those kind of predictions and turns out to be positive then it is really just that a good call on what you had made out. It is really just that hard to make out
some decisions because we would really be hindering ourselves on doing such action because we've known about into those probabilities on which it could cause up whether you would be profitable
or not on the certain trade.

I saw heavy selling pressure a few hours ago that saw the price of bitcoin drop from $61k to $58k. Even though I had been quite optimistic about the recovery after the previous correction which touched the price of $57k. I'm not sure what caused the price to drop that much in a few hours when the market looked positive, but I know it's hard to know the real reason that caused traders to panic.

Even though some people think that a price drop of $3k is not a big amount, I am sure this drop will make many people careful about accumulating. Even if they want to accumulate, then they should consider DCA instead of buying all at once.

The level of panic among traders is always there every month which always makes the price of Bitcoin difficult for us to predict and today the price of Bitcoin is still around $58K even though it almost touched $60K again. I just hope that Bitcoin does not get worse again at the end of this month and can immediately recover early next month with a more positive price recovery because if panic can continue to occur in the minds of many people, it will certainly be difficult to see a price recovery in the near future in Bitcoin.

It remains to be seen what will happen in September, but hopefully this will be a good start, even though the bitcoin price is still playing in the $58k-$60k area.

Some Whales also exerted selling pressure and manipulation, putting pressure on Fundamental so that market prices were affected and much more was being done.
It is only necessary to wait for the next bullish to arrive.

The Bitcoin monthly Return Table shows that in September last year Bitcoin went up, and then the peak was in October because October for the last 5 years experienced a good spike in gains and Bitcoin started to be bullish, Hopefully this will be a good reference and follow the previous trend so that ATH $100k will be able to be broken.

https://www.talkimg.com/images/2024/08/30/9ED5c.png