Bitcoin Forum

Do you think Bitcoin will still rise above 60,000 this year, that is, in 2024? Or is it the case this year and then will continue to go down?

Are you speaking of 60k? Or something else. Because Bitcoin already past the 70k mark this year it's just experiencing some draw backs. It definitely will cross over the 60k mark again as the current price is still ranging 50k-58k. So there's nothing to be scared of. It might retest it's currently price mark abit but sooner or later it's going to move past the 60k mark once again.

So long as there are still people who believe in btc, it’s not going anywhere.

The recent dumping of bitcoin prices was caused by external factors and not just perception of investors. Bitcoin dropped significantly because Germany was selling their bitcoin. This alone created a massive downturn which quickly worried a lot of investors making them sell their holdings as well.

I still believe bitcoin can reach up to 100k before the year ends. Investing in bitcoin requires having a strong psychological foundation as to not be swayed by all the FUD running around.   ;)

We have just start the second half of this year some days ago. It is possible that bitcoin will get to $60000 before this year is over. I am not thinking of bitcoin getting to $60000. I am think of bitcoin getting to all-time high. All-time high is still very possible to become true for bitcoin this year.

We already have bitcoin within the range $57,000 + which could take the lead in approach to $60,000. I'm not going to sound too sure because in bitcoin, there had been several experiences that we get what we never expected in the price of bitcoin rather than the individual guessing and Speculations. So then I believe we bitcoin price will surpass that $60,000 with probability to meet new Ath before the year runs out but though I wouldn't say that's going to be the bull run but sure we may have the symptom just as when we gradually came across the current Ath of $73,000

The gap between $55k$ and $60k$ is not too big and we are just over 5 months away from the end of the year. If you doubt that bitcoin cannot exceed $60k, then you are valuing bitcoin very low and you do not have any knowledge about bitcoin.

It seems like you are not only new to the forum and you are also a new investor in the market? You should spend more time researching and learning everything about bitcoin instead of rushing to invest in it and starting to panic when it only drops a few hundred percent.

Only knowledge will help you have confidence in bitcoin, if you only invest according to other people's advice it will not help you hold bitcoin until you make a profit. Take the time to gain knowledge instead of investing based on other people's advice.

Bitcoin has reached ATH price of over $70k this year and as of this moment the price is $57k, this goes to show you that it's a volatile asset. I'm however positive that Bitcoin price will rise above $60k in the shortest time and we can see a bull run where price will reach between $80k and $100k in this 2024. Nobody can accurately predict what the price of Bitcoin will be in the future because it's demand and supply that determines the price, that is why it's advisable to buy, hodl and wait. If you follow the Bitcoin historical pattern, bull run starts months after the halving, so don't worry or panic about the price dip, wait patiently for when price will start to skyrocket.

We've been there for this year and even more than that. And obviously, it will be back there before this year ends.

Just make all of those situations possible to happen in our minds. It's possible to see a huge dip and it's possible to see it break new all-time highs before this year ends and so as going back to 2024. But I tell you what, I'd be more patient this time just like how I'd been patient during the bear market.

 As at time of writing, Bitcoin is $57,647.30, just $2,363 shy of that mark so, yeah we will see it getting to $60k especially now that the Germans who were some how responsible for the dip in price as a result of their panic selling have stopped. Bitcoin is volatile. At the moment it's on the rise because as at Sunday it was $55k so there's the possibility that if all things remain as they are, we'd see price going up.

This topic will suit well in the speculation board, op.

based on a pure assumption/speculation, yes, why not? I mean, just at the start of this month bitcoin reached above $60k so I don't really see any reason why Bitcoin would not reach above $60k again in 2024. that being said, it could still be possible that bitcoin will not reach above $60k again this year.

anyway, the thread should be on the speculation board.

First, move this topic to the speculation board because the speculation board is a suitable place to discuss opportunities for prices to rise, stay or fall.
Second, for me the best year to wait for high prices is 2025. In 2024 there is still no direction where the movement will go even though I think prices above $70,000 have the opportunity to be achieved amidst the torrent of negative issues that are changing market behavior.

It's anyone's guess ( just like everything else in this section having to do with price prediction).

When bitcoin was at a really low point at the end of 2022, I sure as hell did not expect a nearly uninterrupted rise to a new ATH--and yet that's exactly what happened.  I didn't expect this recent dip down into the $50k range, but it's not exactly putting a lump in my throat.  There's been no news that would account for the drop, so it's probably just traders taking their profits off the table, and that's what happens in a lot of markets.

In other words, nothing to see here.  Bitcoin will most likely be back to $60k or above in no time, even if it has to go lower in the interim.

I think we will definitely see Bitcoin price at $60k plus. There are still more than 5 months left in this year so I think Bitcoin will be over $70k again this year. Today Bitcoin price is $57,500 plus, hope to see $60k soon. Bitcoin price has not come down much. So don't be disappointed to see the market down, wait patiently, Bitcoin will come back to its previous position again.

We look at the current price might movement and predict what will happen in the future and from the current price movement of $57,600 though it is coming down right now at the time of making tho thread, but bitcoin will still hit $60,000 before the year would end again and probably from next middle or toward the ending that the real bear market will start again.

As it said bitcoin will go down below and rise again.

I can say it can rise above 60,000. I can also say the price will drop lower than 60,000 this year. The conclusion is that anyone can say anything about anything regarding the price of Bitcoin.
For me, being too concerned about the price of Bitcoin is not good because Bitcoin is not an altcoin.
Before 2024, in 2022 there will be the lowest price drop so that some people assume that the price will not rise again, in the end that doesn't happen because Bitcoin is now 57,000 which is close to 58,000.

Why not? IMO bitcoin could return to $60K before the year is over and also see some other speculation about bitcoin prices in August being much higher.

Even when there is a little spike again bitcoin can go to $60K because that price is close to now, more so never think about the price when it goes up you have to focus on buying if you believe bitcoin is going back up, so never regret it later.

Towards the end of 2024 it is still a long time, this is only the first half, meaning that with the remaining time bitcoin can still move anywhere we never know the truth, it's just that we are optimistic that bitcoin can exceed $70K before the end of this year.

Predictions of people calling $100K are still quite realistic at the end of 2024, even if this for example does not happen then there is still hope in 2025 where bitcoin is likely to be bullish, I don't care about the price now, this is because of the FUD of the government who continues to sell their bitcoin.

Honestly it already went over 57k, and I think it's looking good. Thinking "will it?" is quite pessimistic and I do not understand why people think like that at all, makes no sense to me. I have been always bull about bitcoin and I think it should look quite good at the end as well, we need to just focus on that and be hopeful about it, we can't really see any other way.

If you keep doubting bitcoin, then there is no reason why you should be invested into bitcoin, you are not going to get anything that profitable from it if you are not careful. I personally believe that the best way to approach this would be just focusing on how to make it better, and for that to happen you need to have hope regards the future of bitcoin as well.

1) BTC is dead sell it all and quit this game.


2) BTC is going to the moon take a loan and let it ride.


3)  be like JJG and DCA a small amount every week.

Only look at the charts 1 time a month and hodl.


take your pick op 1 2 or 3

Although in the long term, Bitcoin will rise to a very high level, and its starting point is good because it represents freedom and fairness. However, when the current price reaches fifty or sixty thousand, we will find that its price is too high. Well, it's not that I'm against Bitcoin rising to 100,000. I just mean that Bitcoin may first fall to 20,000 or 30,000 and then rise to 100,000. So for an investor, getting off now may not necessarily be a wrong choice for 2024.

I feel that you've covered all the possibilities, which is equivalent to saying nothing. Among the three options you gave, I can choose any one of them. Is there a fourth option in this lovely world? So your answer has no value at all. However, I still thank you for your reply. This also shows that everyone here is quite concerned about the trend of Bitcoin which is perfect.

Hmm, I think the Bitcoin price will rise above 60,000 in 2024. There are only 5,6 months remaining until the end of this year, and if we look at the previous Bitcoin monthly return. We can clearly see that Bitcoin has performed a super bullish movement in the 3–4 months at the end of the year since 2013. So looking at this point, I strongly believe that Bitcoin will be definitely hit $60,000 at the end of of the year or maybe Bitcoin could hit its current all-time high.
 
Apparently this is a speculation, but another point of view is that if Bitcoin did not rise, that is, due to selling pressure, it did not stop at its crucial support, which is approximately 50.5k, but there are chances that we will stay below 50 for some more time. It can stay, that is, the price can be stuck in the range. Everyone else has their own perspective, it may be wrong or right. This is my perspective, which I have described above.
 
DYOR !

I think you must have been in this forum for a long time, so your judgment is rather radical and full of subjectivity.

Maybe you are full of imagination about the foundation or future of Bitcoin, but we cannot deny the possibility that it might break down in the middle.

Considering the halving of miners to 3.125. The halving of miners' income!  It will put pressure on miners and cause problems with computing power. At this time, the security of the Bitcoin network will also be questioned.

The exit of small miners will cause the mining industry to become more centralized , which will also lead decentralized Bitcoin to become a centralized product . And a 51% attack is likely to occur more easily, which will endanger the entire Bitcoins ecosystem.


So nothing is absolute and cannot be generalized. What I'm discussing is just whether it can reach 60,000 in 2024. Maybe it will go downhill in the rest of 2024 and directly drop to 20,000, 30,000 or even 10,000.

FUD ,good description!

When it comes to the government, I think there is no need for a government to support Bitcoin because the issuance mechanism of Bitcoin is in opposition to the government. As a government, to manage its own country well, it must have the right to issue currency. It governs the country and the people through the right to issue currency. If they support Bitcoin, it is definitely contrary to their will of governance.

Then from my point of view, it is impossible for the government to support Bitcoin. Even if they ostensibly support Bitcoin, they must be cracking down on it secretly. After all, as a government agency, there is no need to stab itself in the back or support something that will threaten its own rule.

So I think behaviors like the German government selling Bitcoin will occur frequently in the future. Maybe the US government and the British government will continuously follow up to sell and suppress Bitcoin so as to make the Bitcoin circle unable to survive. For example, miners cannot survive. A large number of investors suffer losses, and Bitcoin is completely reduced to a tool for speculation and gambling instead of a real world currency.

It's heavily unlikely that Bitcoin doesn't cross the 60,000$ mark this year yet. Right now Bitcoin is almost reaching to 58,000$, and if this bullish tendency can be maintained, we are going to see Bitcoin back to the price range you are arguing about faster than we imagined last week. There is a small chance that Bitcoin will go downhill for the rest of 2024, and by "small chance" I'm being really open minded regards your point of view.

It's halving year, Bitcoin is bullish, the biggest sharks of financial world are fully focused in Bitcoin and it can be already considered a mainstream investment... If Bitcoin still were a risky asset with potential to crash to the bottom prices you mentioned, I don't think institutional investors and funds of investments would be depositing so much money on it.

if both the usa and Germany sold all their coins and price tanked people would buy cheaper corn  and mining difficulty would drop. we would climb back up the hill again.  For your case to work I would think blocks need to be at .39 not at 3.25

but its a short wait of

1.62500 2028
0.81250 2032
0.40625 2036      

  If we were at that time I could consider you argument to have legs.

Lol, we still have a lot of months this 2024 and the current price is $57k. So moving to $60k, the market just need a little push to get to that price and obviously in the next 6 months we might do it.

The thing is that newbies doesn't have the patience of some of us here that's why they will ask questions that sometimes we think that if you think logically, they might come up with their own answers already. So just stay put, maybe at the end of the year, we might be around $80k or even higher, just saying.

I do not think this is challenging at all, I mean if bitcoin had suffered a massive drop I could understand your worries, but bitcoin is currently trading at 57k, the most minimal pressure from the bulls will be more than enough to bring the price above that level, so if this is something that worries you then stop doing it, as it is just a matter of time until this happens, so just keep yourself as calm as possible and avoid selling your coins now.

I am always positive about Bitcoin and I think Bitcoin price will definitely touch $60k dollars in 2024. The market entered at $73k dollars in 2024 so it is very likely to surpass this position again. Although the market has been dumping a lot for some time, it will definitely bounce back. Due to volatility in the market was dumping a lot, but currently the market is pumping well today bitcoin price touched $59k dollars very soon it will touch $60k. And by the end of 2024, I think the price of Bitcoin will rise even more and its price has a chance to enter $80000.

Last June the price of Bitcoin was around $70k, but since this July, the price of Bitcoin has started dumping. Maybe it's market dumping due to government of different countries German and USA government selling Bitcoin. Because they are in a hurry to escape from Dev, very soon the Bitcoin market will cross 60 and it is more likely to reach the peak.

I think 60k is imminent, bitocoin already breaking Bear Penant and is readying to break through the $60k marks but the big question is, will the mt gox dumping be of concern for the bitcoin market?
we so far don't really know how the distribution of BTC gonna be with mt gox I mean there are some info here and there but really nothing sure until mt gox actually do the deeds down the line.
however, if bitcoin could breakthrough $60k and is still having pump and close above $63k I believe it will be good bullrun waiting for us.

https://i.ibb.co.com/CMYSJVS/bearish-penant.png

I tried searching for the latest news about Mt.gox but there was nothing new, however some news said that the German government is still selling their bitcoins. But looking at the market, we can see that bitcoin is gradually recovering even though the German government is still selling bitcoin. I think after a few days of correction, it seems like the market has absorbed all the negative news and no longer cares about this news. So even if news about Mt.gox spreads again, it won't affect us much anymore, people gradually become immune to this series of news. So I don't see any reason for us to be pessimistic anymore, I believe we will recover from here.

Bitcoin is few thousand($1500k) close to the amount of $60k, you are asking if bitcoin could reach $60k when the year is at its beginning of Q3, with remaining many months(5 months) to the end of the year. However, to clarify your curiosity, bitcoin will reach and pass $60k before the end of this month, not the end of the year. I am thinking of a higher price of 70k above this year.

No need to worry about the decline in bitcoin prices this month, in fact this should be profitable for all of us to continue accumulating our current bitcoins,

I don't really care about negative news that makes bitcoin prices fall or market prices are unstable, apart from continuing to focus on accumulating my bitcoins.

and I am sure that the increase will occur after passing this month slowly and possibly after passing this year there is a possibility that the price of bitcoin will pass $60k or even $70k

Comeon, we are just mid year and already conceding that price can't break a 60K barrier we just left psssh  ::)

Look at it from this angle, external factors are influencing how current markets move, elections and political influence, mtgox anticipated payback,  and generally the fear factor into the markets has caused a high bearish sentiment at the moment...but being human's we easily forget and it only takes one major positive news and markets will be in the green....so for 2024 I expect markets to close strong and above the 60K that's looking like a psychological barrier for the time being...

How often will governments sell bitcoin when they only hold a fixed amount of bitcoin and cannot create more bitcoin like they can with fiat? Once they sell all of their bitcoin holdings, we will no longer be affected by them.

If what you're talking about is the government trying to make it impossible for bitcoin to become a currency, then I don't think they need to plan to crack down on bitcoin. They simply don't make it legal tender then it will never become legal currency, and that's what they've already done. They have legalized it but they only allow us to use bitcoin as a commodity (asset). And I also think that in the future they will not change that decision, they will never let bitcoin become a currency because as you said, they will lose control over us if bitcoin is used as a currency to replace fiat.

Going down?

Speaking about volatile market then this is something that will really be just that normal.If you are really just that new then you would really be normally be freaking out but if you are getting used to it then you would really be having another words or sentiments towards it since you do know on how this market works or on how this moves.People who do usually freak out is into those who don't have that enough experience towards this market on which they do easily panic and made out some conclusions that the market would be going down into those low levels.Somehow it is really that relevant that when it comes to movement then everything could really happen in a short period of time on which it would be needing up that kind of approach that you should needing to have that versatile behavior if you do really need up to survive this very volatile market.

To me $60k is a very close price target to be reclaimed, despite a lot of sell pressure coming in lately, but if the CPI data comes out positive on thursday, it definitely gonna get the price pump a bit, Today the price were able to go kiss the $69k, I believe we will even reclaim the 70k price level before the end of the year because, There is also an FOMC meeting which will take place in November few days after the US presidential election, and which I believe the Federal Reserve will resume its rate cute, and likely going to be dovish, in this case, a low-interest rate like 25 basis points will definitely send the market way higher than $60k.

Simple answer to this in within the 200 day average, consider this measure as having a gravity with it.   If the 200 DMA is rising and its already near to 60k, then in future its going above 60k the aspirations in that long term measure of momentum are positive despite the near term weather.


Point being if we are going down today, this week heck even this entire month.  We are still very likely to come back to visit this 200 day average in future in this year, in a bearish way it would be a brief visit and we fall again.  In summary its very likely we are above 60k in 2024, thats the positive its more probable then not.   The negative is the definition of this outcome is unknown, we can go up only as a brief moment of volatility before reversing; its the inverse of a massive sell off that turns into a V bottom a sharp recovery.

$60,000 is a bit conservative if you will ask me. I mean we're $3,000 below that price. Why are you asking it?

Many are expecting that this year would be the start of the bull run. Right now, we aren't seeing it happening yet, but I expect Bitcoin to at least rise up in price compared to where it was last year. I expect that it will surpass its previous ATH of around $73,700. I believe that what's happening around the world is the reason why you asked this, eh? Don't worry OP. Everything will be just fine. We might see Bitcoin going down for the moment, but in the long run, it will go up in price that's for sure.

Right now, what you can do is to just DCA, and ignore the news. Bitcoin will rise up above $60,000 for sure. :)

Last month's CPI was 3.3% and many economic experts predict this month's CPI will drop to 3.1% and if this scenario happens, it is very likely that bitcoin will once again return to above 60k$. We will have the answer tomorrow.

But whether the Fed will lower interest rates this year remains a question, the Fed maintained its hawkish stance and said it would all rely on economic data and they did not promise anything. But I think whether the Fed cuts interest rates or not is not the only factor that causes the price of bitcoin to increase, because let's not forget that bitcoin went from $15k to $72k without any interest rate cuts from the Fed. They have an impact on the market but are not the only factor determining market trends.

I agree that even with one small tiny good news, we could skyrocket again, everyone is waiting for that to happen and the wall above isn't strong so going up will be quite easy, we can do it and there is a good chance for it. I think it's quite possible for us to have something better, we just need to make it work one way or another. I know that life isn't simple, and I know that we are going to end up with something much harder, we just need to make sure that we can do it.

Waiting for the price to go up is nerve wrecking when you see it go down like this, many people get scared and sell, that fear is the reason why we should buy because when others are fearing, that means it's at a great price to purchase, then we wait until it goes up again, which it will eventually one day.

Some slowdown are going to happen because that's what we've been in the last bull run. After the halving, it didn't moved up as high as it was before and that's why if you're in a hurry and waiting to see those high prices, you need to apply more patience to yourself. Because if you're just the casual type of investor without the patience that the market requires, you'll be a dead meat soon because you'd panic and gonna sell. While you sold your holdings, the takers are going to take it no matter what the price is as there's always someone out there trying to acquire as much as they can. Don't be a seller for now, be a collector and wait until the right time arrives for sure it will come and that's when you have to decide to sell. $60k is going to be there soon at the end of this year and if not, we still have a long way to go for this season to end.

You're not even consider for this month if bitcoin will rise pass $60,000 or not, the whole year is too heavy and more wide enough not to have acquired the bitcoin market price of more than $100,000 and you will have to see how possible this could be, if you could recall that this period is basically a post halving experience and the market will soon continue to go bullish despite the bear we are seeing now.

While people kept talking about what's going to happen, we already managed to make it work and get over 59k and 60k+ isn't that far off neither, by the looks of it that could happen. We need to consider something that will take some time, and we will consider how to make it work. I know that we are going to end up with a greater profit if we keep on trusting bitcoin. If we keep doubting it, it will show us how it is going to end up with a greater result with what we have.

So all in all, we should consider how to make it work, and how it could help us on the long run. Considering how we are dealing with what we have right now, I think it is not going to be that hard to achieve, we just need to be careful about it and it will get higher.

Bitcoin almost hit 60,000$ today. I guess now it's just a matter of time until Bitcoin breaks this resistance level again. The issue is that there is a very strong sell order around 58,500$ which pushes Bitcoin price instantly to 57,500$ in a very short time period, and then the positive tendency of the market immediately fades to a negative one pushing the price into further losses. Yesterday something similar happened as well. It's really annoying.

I'm just speculating, but could that be German government dumping their coins on the market?

German government shouldnt especially be able to derail this market but they do have a big name and reputation.  Main take with this or any other selling is the excess supply and so lower price is a temporary phenomena, its not important further out.

  It doesn't represent consensus or a trend, however as well as this news that separately as a negative could be in play as well.   I can see we attempted 60k and came close twice, so let that be the high tide mark to judge direction on.   Should we not be able to pass 60k continually then the tide might well be going out, for lower prices.

You may notice that the price of Bitcoin is touching 58 thousand, just slightly below 60 thousand. Therefore, if the price of Bitcoin increases by a small amount, it will have a high probability of reaching the highest level. 
Because right now the government of different countries such as the German government has already sold bitcoins in several stages. Because they have sold bitcoins from their vast reserves, everyone prefers to escape the bitcoin dip.... I can say they are wrong because the highest Bitcoin price is likely to improve. The price of Bitcoin will hit its peak when the bull run begins and it is only a matter of months away.

The decline in Bitcoin prices that we are seeing now is a fairly normal decline due to important news that has occurred so far, so it can give rise to a bit of panic among some Bitcoin holders. So there is no need to worry because Bitcoin could recover again this month even if it doesn't immediately pass its highest price at this time. Because the range of $60K to $70K is something that is still quite possible for Bitcoin to achieve within two months if the recovery can take place from now on.