Bitcoin Forum

The price of bitcoin (BTC) fell below the $59,000 threshold on Sunday, hitting a low of $58,080 per unit. Over the past 24 hours, bitcoin’s value has decreased by 3.5% against the U.S. dollar, and it has dropped 13% over the week.

https://news.bitcoin.com/market-mayhem-bitcoin-crashes-below-59k-223m-in-liquidations-as-south-koreas-premium-spikes/

if bitcoin keeps having these type of "corrections" i don't see how it ever is going to reach $1 million. or even $100,000.

I am thinking that it is possible that the $60000 which was the support is the resistance now.

Who tells you that bitcoin will get to $1 million? If bitcoin will get to $1 million, it is going to be in decades to come. Even in the next 10 years, I do not think bitcoin can get to that price. But maybe in 50 or more years, something like that could have happened or about to happen.

i've seen it too many times to count. maybe not $1 million but $500,000, $250,000. those type of predictions are a daily occurence from various pundits.


that won't get you any attention to have that outlook. but i agree. if it gets to $1 million too soon then something is really wrong. i don't know what but something would have to be.


bitcoin hodlers wont be happy to hear that.  :o they thought they would never see sub-60k again in their LIFETIME. bitcoin can be your friend oneday, propping you up financially but then it turns into a lid on a pressure cooker keeping you down.

You do realize that the entire market is down right now. Practically every market index that I've seen has slid substantially over the past few days or hours with the bond yield going down as well. You have to consider that the drop isn't localized to crypto, the influence from the financial market is substantial especially when you see how interlinked they are.

Bitcoin is currently in freefall. According to CoinMarketCap, it is down 11% in the past 24 hours. Ethereum is down 21%. We’ve haven’t seen numbers this bad since the FTX collapse. This time it’s traditional finance that is bringing everything down in the global markets. The slowing economy is creating fear around the possibility of a recession. There is also the escalating situation in the Middle East. Israel is dead set on starting World War 3, and the US will continue with its irrational support of their reckless behavior.

from what you're saying, it's going to go down even further in the near future. so people should sell their bitcoin and wait to buy it back. that way they can have MORE bitcoin than if they didn't do anything. fiat is the safest place to have their money in these type of situations. $1 is still $1 no matter how much the markets tank.



i don't know. gold doesn't seem to be down at all.

Finney is pretty spot on as far as I can see things a present.  The traditional United States stock markets really took a tumble the past couple of days (for all the reasons mentioned above) and I can see them continuing to get hit this coming week.

As for selling your btc and then buying, you’re trying to time the market and well, good luck with that. A lot easier said than done.

but how can you lose by selling your bitcoin right now at $59k. if the price doesn't go down but goes up then you just have to wait until it goes back to $59k to buy back in. now i understand that some people have their btc in cold storage so for them it might be inconvenient to have to pull it up out of cold storage and go and sell on coinbase and things like that. but they are risking an extended drawdown...

Well jeez, how long have you been watching the bitcoin market?  I never thought BTC would ever hit $1k, $10k, or even $50k in my lifetime, but that was way back when I was green and didn't realize how strong its user base was.

This is a dip, albeit a big one, that's all.  I'd say the smart money is buying right now and not panic selling along with the rest of the trading noobs and other assorted weak-handed holders.  And c'mon, this is bitcoin we're talking about.  It's always been as volatile an asset as you can find anywhere.  It'll rebound.


Not surprising--the stock market has been in one continuous bull run for what, like 15 years now?  There are so many stocks that are overvalued at present that the market as a whole is overdue for a massive correction.  Bitcoin on the other hand is nearly impossible to put a fair value on, which is likely why it's more volatile than stocks.  I'm no expert, though.  The market seemingly has a mind of its own.

Gold is a precious metal and is seen as an inflation hedge. It is not likely for it to sharply drop or increase in price and it should be rather stable. Most of the countries have a reserve of precious metals in the portfolio or serves. If you ever see precious metal fluctuating wildly in value, then you would have a pretty big problem.

The general index and stocks are currently down at the moment. It is perfectly normal for Bitcoin to be influenced by it, especially when you consider the market cap to be in the trillions. Attributing price movements to the right factor is important to understand what's going on. Else, you're going to be driven by the paranoia and fear.

The road to $100K will begin when people like you start selling en masse because you think the fall to hell has begun.


Due to U.S. employment data.

The best of the cycle has not yet begun and anyone who gets nervous and sells now is going to miss out on the best.

Not exactly sure what is the exact reason for that, could be cyclical or structural. Central banks are also shifting their economic policies as well. I'd hold my horses for now, some of the markets are still closed so it would be quite early to put a price to it.

Where are people who keep correlating the dump of Bitcoin price and Mt.Gox? :D now Bitcoin price dump for 10%, but Mt.Gox didn't send any coins today. (https://platform.arkhamintelligence.com/explorer/entity/mt-gox)

We're still in Q3, while the bull run starts in Q4, so I don't really care with the sudden drop that happened before Q4. But, people can take advantage over this drop to buy at the bottom.

If I have unlimited time, I don't mind to sit in my chair and looking at the monitor the whole day because if I lose I will not stressed out to recover my loss. But since I have limited time, trading isn't a wise decision, I'd rather collect my money by working and DCA-ing Bitcoin.

I do not know of any market than gold when it comes to outside cryptocurrencies. The gold market has been good since 11 days ago even when the crypto market was bad until yesterday. He even got to all-time high yesterday. But the gold market has been bad after it got to all-time high. But crypto market was very bad when when gold market was good but recently in less than 2 days, they all went down including gold.

Yeah, it's an inflation hedge. People buy precious metals when the market gets worse. It isn't a great investment vehicles if you're chasing returns.

It's now 50K.
It will dump to 30-20K this week.
Exist now and buy the dip later, not just Bitcoin but ETH and all the Altcoin are dumping, That cunt Kamila...

This is how some of you will not take the opportunity to buy bitcoin now. Even if it gets to $20000, some of you will still be expecting bitcoin to drop more. What I think is that another strong support may begin around $46000. I am not expecting bitcoin to fall more than $45000 for now.

"10% in 24 hours, see the hourly chart; buyers failed multiple times, and the huge momentum on the daily chart isn't clear either. One hour ago, it hit 49K, and trust me, tomorrow it will dip to 45K unless some whale step in and put 50 million. This isn't the 2020-2021 crash, as the Kamila FUD seems to be already in effect.

And if it doesn't? That sounds exactly like a recipe for becoming a poor no-coiner. ;)


Yeah, right. It will be a beautiful day tomorrow, unless it rains.

Calm down people! You gotta have nerves of steel to continue HODLING your stash during these kinds of crazy corrections which usually bears fruit in the future thanks to BTC bouncing back every single freaking time.

I don't give a damn even if BTC fell below $40K soon because I am confident that it will bounce back in a bullish manner sooner than we think.

"correction" is the term after an ATH when it reaches premium and then corrects back down to value
based on some metrics the ~$50k area is roughly the value line so yes id call it a test of the bottom for the period
and these tests can be a good thing

the stuff happening this month of % changes are not the largest we seen but simply "dips" (to $58k)
however larger corrections of the year from a $75k new ATH to then test the new value bottom test of ~$50k would be

you need to learn that the market naturally swings up and down. it wiggles  in both directions

there are rises and dips /\
there are spikes and drops ^|_|

there are different terms for different events dependant on how small or big the change is and how sudden or lengthy the change occurs for

if you are emotional over a 3.5% - 13% change then you will always get triggered.

heres a trick.. if the price dips, treat that as a opportunity to decide on if you want to buy more at discount compared to the price a week ago
if you were thinking a week ago 'i wish it were cheaper so i could grab more before the 2025 ATH' and now it is cheaper.. grab more

These huge price fluctuations are going to be the new norm in the future, because institutional investors entered the market.

They are not used to Bitcoin's volatility and wild price fluctuations will cause trigger happy investors to dump at the smallest change in the market.  

They also have huge amounts of Fiat invested, so when they panic sell.. huge price drops will be the result. (Causing a ripple affect and triggering more people to sell)

It seems that the week is off to a turbulent start in the markets, with last week's US employment data, the Nikkei with the second biggest drop in its history and the rest of the markets affected: bitcoin plummeting and the European stock markets falling.

In the specific case of bitcoin, it has momentarily dipped below $50,000 and has already bounced back to almost 53 but whoever gets nervous now is the one who is going to lose money.

Bitcoin has dropped more than 11% in just the last 24 hours but that doesn't mean it's certain to fall more so the idea of ​​selling bitcoin now and waiting to buy it back isn't exactly a wise idea. This strategy is too risky and I think it's not worth the risk.


Times like this remind me, I remember someone saying they don't want to keep money in the bank, their savings are also bitcoin. I wonder if their savings (BTC) lose more than 10% of their value in one day, how will they handle it if they need to use it in an emergency?
Inflation causes fiat to lose value but will not be worse than bitcoin being dumped in the short term, those who save with BTC will understand that fiat will also be important in some cases in the short term.

This is big news and we haven't seen anything like this in a long time in the financial markets everything is quite messy, the issue on the US recession and war is the highlight of the conversation today because it has a bad impact on the financial markets both stocks and Bitcoin.

Bitcoin has indeed touched below the price of $50k and it is likely that if the decline will occur again then we will try to break the price level of $44k and $40k-$39k to try the strongest support, we do not know how long this storm will end but keep standing with bitcoin and bring home more bitcoin.

I myself am quite sad to see my portfolio today. LOL

Making predictions that bitcoin will drop to 45k-40k at this time is similar to many people predicting bitcoin will reach 80k-90k when bitcoin has surpassed $70k. No one will know what will happen in the future, your prediction or someone else's just because you are feeling scared about what is happening in the market, nothing more and nothing less.

Fear is flooding the market, so it is understandable that there are many pessimistic predictions, but I bet you if tonight the US market opens and bitcoin rises to 60k. The prediction of bitcoin falling to $45k will disappear immediately and people will start to be optimistic about higher prices.

That's the way the market is, manipulating investor psychology very well.

Trying to time the market by selling and hoping to buy back lower is a tempting strategy, but it's incredibly difficult to pull off consistently. Nobody knows for sure if the price will go down further or start climbing again soon. It's a gamble.

I prefer to hold through market fluctuations, believing in Bitcoin’s long-term potential. I consider the potential for unexpected price rebounds and the overall trajectory of Bitcoin over the years, which has shown substantial growth despite periods of decline. It’s practical to focus on long-term trends and the underlying technology's potential, rather than getting caught up in short-term fluctuations.

The line is 60, 5-10% is a good dip to buy.

Just see the hourly chart and how many times buyer tried to stop the down and failed.


Nope, not this time. People stepped out after Kamala passed Trump in the election as Trump wanted to buy Bitcoins as a government investment. For a brief second, Bitcoin hit the 49K line. The buyers pushed this, but not for long. Unless some whales step in, the price tomorrow will be 45K, and I bet you 5 bucks it will

15% is not a fluctuation of price and it is big enough to be fearful by newbies in Bitcoin market. Especially when they see many bad news released on time to magnify fear, uncertain, doubt effects, it is very hard for many people in the market to be calm in mind and action.

The advice in financial market is "Don't put all your eggs in one basket" because if you do it, you will not have money to use, for emergency and your life will become very difficult if all your money in investment portfolio drops significantly or vanish to nearly zero.

This risk causes massive fear and people who have that practice are actually living with very bad days, even this correction is not worst one in Bitcoin history since 2009.

Seeing the sluggish Bitcoin market situation, maybe I am one of the lucky ones because when it touched $70K my ownership was immediately sold. For a whole week the support level was continuously tested and penetrated in other words we are in a fairly deep correction abyss. World issues, especially war, are the biggest factors triggering panic selling, not only bitcoin but stocks also reacted.

$1 Million is still quite far to achieve, even now $100K is still a mystery and most of us have stopped that hope for now. A month full of surprises, the biggest drop I have ever seen because the price plunged in the last 24 hours indicating something unexpected.

Well I have news for you. Bitcoin just went under $51K and it's about to hit $50K even in the hours since you made this post.

But you know what? It's still going to have another correction in the opposite direction. Most likely even this year. Would't be surprised if it hits $100K before 2025.

¯\_(ツ)_/¯

Back to $51,000 and I don't know what to expect from now on. Fear & Greed Index indicates medium fear, so not the best moment to sell, but it has room for more losses and extreme fear.

This is not a good moment for this. We should be testing new ATHs after the halving, but timidly broke the ATH from the last cycle instead. Maybe the best advice for those who can afford to lose more money is to enjoy a day offline.

Tell that to the folks who sold all their BTC in 2013 when it dropped from $100 to $50, and are still waiting for it to get back down to $50 before buying back in. Or the ones still waiting for it to get back down to $1, which was once considered an impossible price to reach  ::)

the DIP to $59k previous day was a dip not a correction.. but the $50k is definitely testing the value support line so is a correction down to value, and im surprised larry predicted/mentioned the correction before it occurred

either way though these tests of the value support lines are good for the economy, its a good opportunity to buy cheap coin before the ATH premium test next year and by testing this periods bottom then strengthens the bottom

Maybe you don't have to think about Bitcoin soaring to $100k at the moment, certainly not the current situation, but you can clarify again for the upcoming halving, where when you think Bitcoin is no longer valuable, that's when the price can reach the $100k level, no one knows for sure what will happen in the future.

Currently the global economic situation is not improving, as well as what is happening in the crypto market which can have an impact on a wave of price declines, the current situation of investors is worried about the state of the world, They don't want to take risks that might result in losses, but are sure that when everything returns to being conducive and regaining investors' trust, the price of Bitcoin will be better than it is now, maybe $1 million is not difficult to achieve.

Yeah, exactly. BTC can't always go up and I'm surprised that people still don't really understand that. And it also provides us an opportunity to buy it not at the top price.

Pretty much the same thing they said when bitcoin dramatically dropped to $10k back in 2020, and we know what happened back then.

The thing is that at this point a lot of us here stopped rationalizing why bitcoin rises, we just know it would, and while we're looking for pegs and narratives which the bull season is going to bolster itself upon it's pretty much on the general side of things and is not connected to bitcoin anymore. Bitcoin increases in price and value when the people who support it believes it would pump as well. But don't mistake it for a ponzi scheme or whatever.

Also hate these fearmongering tactics made by the main media against crypto, matter of fact bitcoin's been constantly correcting itself for a while now, and a lot of speculations surrounding bitcoin dropping to 50k has been made in the past few months, now that it fell according to predictions they start shaking the stories up? That's just weird.

Years ago, we experienced dips of over 90%.

During the last cycle, the dips were over 50%.

This cycle, we haven't even seen a 50% drop yet.

Drops like this are routine and volatility is clearly decreasing over time.

It's normal to get nervous, but over time I've gotten used to them.

Did you buy this account?
It says you registered in April 2021 and in May 2021 bitcoin crashed 50% (60k-30k) and then it went back to a new all time high and right after that it crashed another 60% to $25k.

These things are normal, bitcoin is volatile. We haven't been in a real FOMO phase yet, but it's going to come. Maybe you'll have to wait until the end of 2025, but it will happen.   

There are a few things that I'm certain will keep happening in bitcoin as long as it exists.
There will be halvings
There will be bull and bear markets
There will be large corrections in every bull market
Each bull market will end with an overbought parabolic peak and each bear market will end with capitulation and depression.

It will be a crazy week for markets... In one hand we have the panic sales, when price moves down like this people start selling before it drops more, but in other ha d we have those who chase oportunities, and they see 50k as a guy price to buy. So, things will get fun this week.

the chances are that even if it did go back up it will still revisit the same price point you sold it at at some point. that's when you get back in.

selling 1 btc at 59k and buying it back at 51k you still have 1 bitcoin but you also have $8000 cash so maybe its worth doing it for some people in some situations.

Personally, I think we might see $100,000 before the end of the year the pullback of the market is not new, if you noticed since the Bull Run started, at every new week of a new month the market always has a pullback and rise again after a week or two. I believe we are experiencing the same circle. I bought Solana after the pullback because it will go as high as $181 when it rises again.

Thats just the start of the dumping mate , because Bitcoin drops even more the next day and just today that this starts to recover , if we will going to tally each time the value drops and climb to make thread here? for sure this forum will be filled with senseless topic.
why not just focus in our targets? to sell when the price starts to hype and buy when its dumping like now?

there are so much thing to think  so better to let things sink about positive sides .

Looks like you're going to lose this bet! But let's wait a few more hours, because technically, it's still "tomorrow" based on the time you made that post.

Why did you jump to that conclusion? Don't you know that Bitcoin was once worth less than 1 USD, and how is it now? It's worth much more than gold. And about corrections, every asset will certainly experience corrections and you can't expect an asset not to experience corrections, and when Bitcoin experiences corrections, it's a very natural thing, even Bitcoin has been corrected more than that, but it still performs well and has even broken its ATH several times. So just because it's corrected doesn't mean it's lost the opportunity to reach 100k USD or more than that.

Financial markets in general are falling, it's not just bitcoin. The USD fell as well. The Japanese stock market is crashing. US stocks are also losing value. The crisis in the Middle East is creating uncertainties on the financial markets and volatile assets like bitcoin and crypto are, of course, hit hard. We also have the FUD about the US government moving confiscated bitcoin from one address to another, maybe in preparation to sell. There is also the bitcoin from Mt. Gox that is being distributed to owners. All that creates fear and sell pressure.

Bitcoin has always had these types of corrections. Sometimes the price goes up more than necessary because there is a hype, a good environment and a positive mindset but then something happens and everyone starts panicking, everyone starts cashing out of their money and that's the wrong thing that they do but it gives some of us the possibility to buy the dip.
It's going to easily rich $100,000, I don't even question that. We had halving this spring, the winter is coming and the bull market will strike with full force and we have ETFs here too, don't forget that, that's a double boost.

Are you kidding me? Think about what you could buy with 1$ five years ago and now think what you can buy with that 1$. The USA prints the dollar like crazy and inflation hits hard. 1$ is 1$ today but it's 0.9$ tomorrow, 0.8$ the day after tomorrow and etc...

I think, the price of Bitcoin will definitely going to reach $100,000 before the end of this year, because the market has changed to green light few hours ago which there is a hope that it will increase higher to hit $70,000 back for other holders to believe that $100,000 above is possible this year. The price of Bitcoin has increased back to $55,000 at today which is still good for those investors that still want to purchase to use this opportunity to purchase Bitcoin and hold for long, but if your target is $1,000,000 in this year, I don't think you will achieve your target this year because the price will not reach that amount this year. You sound like someone that is ready to sell Bitcoin once the price hit $1,000,000 in the market,  you don't need to be panic about that, because it will definitely come to pass but not this year or next year.

Currently, it can be said that the panic that caused the market to be corrected did not only occur in the crypto market but also occurred in all investment sectors, including the stock market, of course. Various bad news continues to emerge, causing panic in the market. Yesterday was the worst. Be it in the crypto market or in the stock market. We see all markets turning red. But today things seem to be recovering quite quickly. Yesterday the price of bitcoin touched $49000 but today the price of bitcoin has also returned quickly to a price of around $55k-$56k. Yesterday I panicked but I still restrained myself and closed the market. because I believe the market will recover. And if we remember that our goal is long term then we don't need to worry about the correction that is currently happening.

OP, anything can happen here in the crypto market. Last month the price of Bitcoin dropped to $53k and quickly returned to $70k. The market has started to go down again, I don't know how much it can go down this time. Dropped to $47k yesterday but is in the $55-65k range today. I won't be disappointed if Bitcoin falls further, I believe Bitcoin will rise again. OP, don't you know what bitcoin was worth in the past? Did anyone expect Bitcoin to reach this point? Since Bitcoin has reached this level today, we expect Bitcoin to hit $1 million at some point in the future. OP, we can expect the upcoming bull run to start soon and we expect Bitcoin to hit $100k in the upcoming bull run. Don't lose hope, Bitcoin will definitely hit $1 million in the future.

I understand what you're saying but here's the thing. I expected bitcoin to not stagnate around for a long time after it hit 70k or whatever its ATH is. But it just falls away from that price alot of times. I dont know why it is doing that. But I surely don't think that it has any chance of reaching $1 million in the future unless there is some type of massive inflation which wouldn't really make it worth anymore than it is in today's dollars....

bitcoin has known market cycles where it was not due to pump to new ATH so close to the halving, so whales are now suppressing further pumps now to stay in the market cycles range for their algos to still trade on via historic data

usually during the era so close to the halving the markets value bottom raises and the market tests out the value bottom and then the following year it then gets to test the tops of new ATH

seems some were too eager to use the moments of the halving as a trigger to want the next bull to ATH to start at the same time. however when many whales use bots and algos to make trade decisions, entering a new era of ATH will break the pattern and break the bots ability to trade on market cycle data by breaking the cycle.. so they are suppressing the market to stay in the expected cycles range for this period to take advantage of cheap trading..

After all, bitcoin is just a financial market where there will be winners and losers, don't be naive and think that someone will print money, pump money and push bitcoin up forever so that everyone gets rich. Financial markets don't work like that, we are on a battlefield, not a place of charity. If you can't stand its rigors, you should leave the market and find something that suits you.

Rewards are only for those who deserve it, if you cannot overcome challenges and difficulties, you cannot expect to receive rewards like everyone else.

If you are sure bitcoin cannot reach 1 million USD or no longer has the ability to grow, then you just need to sell it and leave the market, no one forces you to hold bitcoin and stay here. This is my sincere advice.

One thing is that bitcoin price is not constant and the price can't be accelerating all time, and people who is new investors in cryptocurrency mostly in Bitcoin don't understand such, the price always fluctuates and when it increase and it will decreases

So I want us to know that we have to such principle and not to panic whenever we seems that price of bitcoin is decreasing in value, so that's why so people panic much in cryptocurrency devalue in price, since I joined cryptocurrency the price always fluctuates

Secondly, the price of bitcoin decreases the way it wants, and it's obvious that we can't control the bitcoin price and the essence of the price to get more increased is when the demand is higher, so for the price to decreases that means the demands is low and the supply is high.

Not only is Bitcoin in bad shape, but the global economy is also in recession.  We can blame the armistice as the reason.  In addition, the major countries of the world want to use the alternative currency of the dollar. Due to many reasons, the economic condition of the world is not good.  This has also affected Bitcoin.  How far it will go down and from where it will start to rise we cannot say exactly.  Maybe when it grows, it will suddenly grow a lot.

Growth and decline are always caused by effects and nothing suddenly appears out of the blue and from some of the effects that you have mentioned, I think it is much more logical because it can also make some Bitcoin holders and Bitcoin investors reluctant to buy again. Although in a price drop condition, it will always be the best option to buy Bitcoin again at a price that was previously unimaginable and now I also want to see a little recovery in the price of Bitcoin because that is also the best thing to hope for in this condition.

Firstly, the currency market situation does not justify the future market price.
Having said that, a moment like the current sudden downtrend in the market should be expected ever since the institutional banking pop into the crypto market through the spot ETF.
Second, the downtrend was caused by the TradingJump which is a proprietary trading firm owned by  Principal Traders Group which is an association of firms that trade on futures, options, and equities markets worldwide. They did some huge sell-offs worldwide and if you follow the crypto, and stock market you'll see that as crypto experiences a downtrend so does the US stock, Japan, China, etc. I believe BlackRock and other powerful investment organizations are behind this.

It is obvious that this is another manipulation, possibly on the part of BlackRock or other large players who have not yet added positions to their portfolios and are clearly trying to do this at more favorable prices. And in this situation, I think it is positive how quickly the price of bitcoin is recovering, in my opinion, this indicates that it is being actively bought up.

I expect that the movement in bitcoin should begin in the fall, possibly closer to the US elections, and until then it will be a period of gaining positions for those who have not done so yet, so I will not be surprised if this is not the last correction before the bull run. Very large players have entered the game, with very large opportunities and they definitely have the ability to manipulate the market. I thought that the price of bitcoin would not fall below 50k, but as it turned out, this is possible and without great difficulties, but it is good that the price is growing, and did not remain at this level.

The "do not panic" thing is unfortunately not that much valid for many people, because they end up getting even worse, and unfortunately there isn't really anyway that we could stop them, we just have to accept the fact that it is the reality and we can't make that work. I believe that we are going to end up with a better result if we know what we are doing and we should be aiming at that if we can, would be a smarter move.

I think the best way to go about this would be just considering how to make it work some other way, and if we do that then we are going to be fine, I think it should not be all that complicated at all. What we need to realize is panic will not make us money, and if we just stay calm, we could make much more profit.

Once again we are below below $59k levels and I am expecting another sharp bounce back from here. So, not getting panic and making use of available dips will help everyone for sure.

The only reason why Bitcoin may go down below $60K at this point is because somebody not-so-smart is dumping thousands of bitcoins onto the market.

This, in turn, scares people who use Bitcoin exclusively for trading, and they sell too because they are allergic to red candles. HODLers get drawn in, bullish positions get liquidated, they buy at the bottom, Bitcoin price goes up, bears get liquidated etc. - the cycle continues.

Wasnt expecting the price to fell any below $60k dols though... But, since it rises with the same tension an pressure it does decrease... There's hope probably the ATH before this Year ends would be Celebrated at $100k+

Do not forget that in every correction Bitcoin always positions itself to another rally despite the possibility of going a bit lower.  This is the beauty of a highly volatile market and high speculative investment especially when it has high liquidity.

The high volatility of Bitcoin gives windows for reaccumulation and at the same time taking profit.  This cycle keeps the hype of the market stronger and give holders a sense of trust on the ability of the market to rebound.

That said this type of correction gives new and old investors to put more funds into the market giving the market more solid liquidity and making the market gain more trust and eventually create a speculative of possible higher ATH speculation.

I am sure that $100K will be achieved but it does not mean that it will happen in a short time. Correction is a common thing and good for our growth in collecting more Sats. We need correction to show that bitcoin is running in a healthy market. If you are an investor who is ready to profit, then you must also be ready for the correction and that is the point where you are given time to breathe more deeply.

$100K is not impossible for bitcoin to achieve, even $1 million can be realized if we have a long life, as long as electricity and the Internet still exist. ;D

Until now the market goes with the sideways it makes having a play around the 55k to 61k and still now the Bitcoin doesn't beat the last price which is 70k and people keep wanting this happen so they can buy more and it's seems like a sign that the Bitcoin has a potential to rose up more this year. If I've seen this price possible people get hype with the market and get FOMO to buy more so possible we beat the 80k immediately. Again it's the current ATH last time with the 60k so expect more to come.

This correction was very much expected since Bitcoin has spend lots of time in 60 to 70k range. But this is not the first time (in last 6 months) that Bitcoin has gone down below 60k, we have seen previous dips below 60k and saw Bitcoin recovering very quickly. Those who have extra cash must think of investing in Bitcoin at current dip. Price of Bitcoin has gone down but it will very soon be back over 60k. DYOR 

To be fair, one dollar seems like a wrong decision for an example lol, you couldn't buy anything for a dollar five years ago, and not like you can buy much with it today neither.

But yeah, you are right with the idea, what worths something five years ago, worths a lot more now. So what can we do? We could keep on complaining about it, and that's going to end up not helping us at all, life is pretty serious and troublesome and its not looking good for the future neither. Or, we could use this information for our future and make more money, isn't that better?

We know that things go up in price, we also know that USA (or all other nations) print money like crazy, so what can we do to help us? What can we do to make sure that this system could profit us? We could just learn to use this in our advantage, and in return we could make a good profit from it, smarter isn't it? That way we could say that its going to actually be a profitable thing for all of us. That is just a simple idea, make inflation your helper, not your enemy.

I am not so sure about $100k+ before this year ends, it may happen before the end of this cycle which should be next year, but it isn't looking possible this year, i think anything around and just above $75k is possible this year, but i don't have crystal balls so i might be so wrong in what i said. And to op, corrections will always happen, as long as BTC is volatile, though the volatility would reduce in the future.

Yeah, let's not put our hopes to high for this year and see Bitcoin reaches $100k. We have seen $73k already and so the first target will be obviously around $80k'ish at the end of the year. And with so many news in the background, like the geo-political avenue, might be hard to see that 6 digits.

But the thing is that we still have a whole year ahead of us, and if we look historically, every 4 years we have a huge bull run so I wouldn't discount that in 2025, we might see the price going as high as $100k or even higher.

Haha these media folks who make the commentary like this haven’t the faintest idea how it even works. Bitcoin is up trending year over year and it may take a while but 100k is very VERY close!

Ya, corrections are nothing new.  Every cycle you can see on the chart that multiple 30% corrections along the way has been how Bitcoin has always acted.  Sure, there are plenty of concerns and ways that Bitcoin can fail, but corrections like we're seeing now are not a sign of it.  In fact, you could make the argument that it is a signal the market is working efficiently and removing excess leverage at every opportunity.  That isn't a bad thing for the health of a market.

Yes, it's true that far from going up, the way the Bitcoin market has started to go down is down. If it goes down more than it goes up, it will look like Bitcoin is below $50k at one point. Many may say that by 2024 the price of Bitcoin will be $100k, but if it goes down like this, how is it possible for the Bitcoin market to reach $100k in 2024? If you think a little deeper it is also possible that the Bitcoin market does not take long to grow and within a short period of time the Bitcoin market can grow and cross the maximum. Because we've seen in the past when Bitcoin grows, it can grow very quickly in a short period of time. So let's see how the Bitcoin market can shape up in these few months as we still have a few months to go before the end of 2024.

I am absolutely right, because the cryptocurrency trading market is actually a living mechanism. It contains everything, and the psychology of people, and greed, and news of the world and cryptocurrencies. The price of Bitcoin is the quintessence of the entire news background, seething. And of course, it cannot but experience corrections. It would be strange if the Bitcoin chart only grew and grew, it would look like a fraud or a Ponzi.

I remember when bitcoin surpassed 69k$ and created a new ATH of 73k$, everyone believed that bitcoin would soon reach 6 digits this year. But with the correction lasting 4 months and bitcoin trading at $60K, people are pessimistic and no longer believe that bitcoin will reach 6 digits this year.

I think we should not lose optimism just because of bitcoin's short-term volatility. Not to mention, bitcoin is unpredictable and anything can happen, so expect bitcoin to hit $100k by the end of the year. That's not huge growth that bitcoin can't achieve.

$1M in the near future, it's impossible you have to be realistic in approaching bitcoin prices with the current situation if heading down the road $100K is still realistic compared to $1M.

The current price is still the same, meaning that this will be a long-term sideways I think monthly we will face pressure on the market because the global economy is said to be in recession, but believe that bitcoin can go to $100K, this is my first target.

The sharp Bitcoin pumped hasn't be discussed since it happened and everyone just think it's fine. I mean, there should be a reason why Bitcoin just shoot up more than 10% but everyone was just happy. There shouldn't be reactions when it fall back to where it crawl out because I think it's just normal big players trying to make Bitcoin price from falling below $50k. It will be a long month work before the price will come back to this range again.

The $100k before the end of the year is only achievable if Trump win the US election else that November is going to be a lot of drama. I don't even know how this will be if it's announced that Kamala became the first lady to rule United state, Bitcoin Wil suffer this but I hope Trump win so we can see Bitcoin price in that range before the end of the year.

I don't care. Bitcoin is eventually going above $100k and it's inevitable. The only question is when. Most likely in this cycle, but the cycle can extend to the end of 2025 and we all should be aware of that.
Does it matter though? Let's say you hold 1 bitcoin and it's at $60k now. Are you going to make $40k in 12 months? Are you able to make that from any other investment? If not than you shouldn't worry as your money is in the best place that it can be.

if thats really true that bitcoin is going to 100k in a year then what is everyone waiting for ? why aren't they buying more of it right now so they can make even more money? why not get a loan so you can really go all in? max out your credit cards, mortgage the house, do it all. you're going to get rich.

The future is unpredictable, there is no guarantee that bitcoin will definitely reach 100k USD in 2025 or the future. But once you are a bitcoin investor, you should have faith in it, you need to believe in your choice. If you do not have confidence in bitcoin, you should sell it immediately because no one forces you to invest in bitcoin.

In addition, if you want high profits and want things others don't have, you need to accept risks and trade-offs. If you want to earn x2, x5 profits, you need to accept the risk that you can lose everything, everything is proportional to each other, high profits will have high risks and there needs to be a trade-off.

Who feed yiu with this $1 million price a Bitcoin? It seems you guys don't do your research before you says number but I want you to know that Bitcoin price to a million dollars is very impossible, maybe not right now but probably in the future. We need to see the price to break through $100k before we can even talk about the million dollar journey because the kind of liquidity needed to push that price to that level is many times the market cap we have achieved so far.

Bitcoin has done this in the past and it survive, I don't know why you are scared about this small correction. Even in the stock market, the market don't move in a straight line candle, only ponzi schemes moves like that but real investment go up and down due to market sentiment and so does Bitcoin. If you want to see $100k and above for Bitcoin, you really need to tight your belt and don't get carried away by this short problems.

from time to time, i happen to see people saying stuff like that. whether it's 250k or 1 million. i'm tired of it.



Moreover, crypto entrepreneur and BitMEX’s ex-CEO Arthur Hayes predicts that bitcoin might even spike all the way up to $1 million during the current market cycle.

“The bitcoin price in this cycle is going to go very, very high,” Hayes told DL News recently. “Hundreds of thousands of dollars, maybe $1 million.”

https://www.msn.com/en-us/money/markets/bitcoin-bounces-back-after-market-jitters-arthur-hayes-forecasts-1-million/ar-AA1oxmh7


most people consider research as reading articles on websites. and this one said bitcoin was going to $1 million. whether MSN endorses that point of view is immaterial.

Bitcoin has certainly its own flaws. We can’t expect to see bitcoin price moves upward consistently because that’s highly impossible for such a volatile market. But we all know that once it drops, it will also recover in time. So there’s no issues if we are seeing bitcoin not reaching more than $60k right now or higher than that, because sooner or later we’ll eventually witness that moment. Patience is a must, if we can’t be patient, we will never come to witness when bitcoin price has already reached $100k or even 1 million, but it takes a lot of process before it’s going to finally happen.

That's more reason why I refused to pay attention to everything I come across on the net or media, Bitcoin is still trying to get to $100k it's not even attained $80k yet someone is talking of $1m, sounds funny.
 Bitcoin no doubt has a tendency of attaining new heights over different circles but before it would get to $1m alot of people anticipating that price would've been long dead even before it gets to $250. They should go with Bitcoin's pace instead of speculating prices they might not live to witness.

it's kind of hard to ignore though when famous people start talking out of their ass. and some of them are pretty intelligent in their own right but when it comes to bitcoin i'm not even really sure they understand how bitcoin really works. since some of these people come from the business world. and don't really care about technicals...they could be right but i'm not sure i fully trust them unless they really understand the technicals of bitcoin, it's challenges and things like that. i doubt some of them really even use bitcoin!

if you dont even understand how bitcoin works mathematically, i don't see how you could make any type of prediction about its price in the future. that may sound like a strange thing to say but i dont think bill gates understands how bitcoin works mathematically so his opinion of it doesn't really matter much to me. he would need to understand how it works from the ground up before he could really be in a position to understand its strengths and weaknesses.

the list of famous people for and against goes on and on. waren buffet, mark cuban, keven oleary, etc, etc. whether they support or don't believe in it, doesn't matter to me since i don't think any of them understands bitcoin mathematically to where they could explain it.

No one cares about the volitilities any more and as a matter of fact the more the volitility the sweeter our bitcoin investment looks, and sound to us, because at some point, bitcoin won't be exciting if we don't witnessed all the ups and downs that we normally see in the day to day market movements in bitcoin, more also we need to get used to how we can properly take advantage of each bitcoin movements because when bitcoin goes up, it presents the opportunity to make profits, and when the price drop again, that is another opportunity to buy at discounted rate, so everything goes well for the smart investors.

How is it possible that no one cares about market volatility when they actually exploit volatility to make profits. All day traders are those who try to take advantage of price volatility and they cannot ignore it, while holders can ignore volatility because the time frame they set is longer.

Basically traders and investors are different in how they exploit volatility. Traders tend to sell when they get a few percent gain in a short period of time, while investors tend to hold longer and may also apply accumulation. When prices fall, investors especially long-term holders will likely accumulate regardless of how they do it. While day traders also buy, but they will sell when the market shows recovery.

very surprised to see the BTC price minus up to 3% this week, a little doubt if it continues to correct like this whether it will be able to exceed 70k$ in the future,
If war is the basis for a price decline then it can be predicted that BTC will not reach a new ATH

Bitcoin has been having such corrections since inception and so it will reach $1million the same way it reached $72000.
It's quite normal for any asset to have dips/corrections and bitcoin being more volatile is prone to having such dips.

There’s no problem with dips and corrections as they occur normally in a highly volatile market as well as bitcoin, the important thing is there’s always a price hike after that. That means that regardless of the time, bitcoin will still be able to achieve $1 million throughout the process, we just cannot tell when it’s going to happen.  But as long as the demand for bitcoin is still there and people are still buying bitcoin, its price will continue to increase as well, no doubt with that.

1BTC = 1BTC, if you are holding Bitcoin for a long term period ,there's no need to panic at themoment, however for a short term hodlers of Bitcoin who is skeptical about the current market situation, well after that Bitcoin dip down to $58k,  where the price failed to close below $53k price level on the daily time frame perspective, I believe Bitcoin is preparing to go mitigate the $53k zone once again before its continuation of the price to the up side, or a further price decline.

Bitcoin correction is a normal thing that usually happens, and people take advantage of it and buy more. Talking about it in such manner like this, sound as if bitcoin hasn't experienced correction before. So what do you want us to do now? All what I can tell you is never to let go of such opportunity of buying bitcoin during price correction because correction are rear and when you buy them during this period you have more advantage to stack some starsh in your portfolio.

And who told you that bitcoin must reach $1m? All what I know is that apart from bitcoin ATH, any other price is mealy speculation which might or might not come into existence.

There are only ten days left of summer and we can already conclude that the summer has been quite volatile for Bitcoin.
There was no flat, we constantly observed price changes, and recently we saw a really strong correction, although I am more confident that this was a sign that the price will continue to fall and fall. And this is visible on the weekly chart. And this is correct, because if the price does not fall as low as possible, then we will not see Bitcoin with a price of 100k.

meanwhile gold is hitting new all time highs.

A gold bar is worth $1 million for the first time
https://www.wtvm.com/2024/08/20/gold-bar-is-worth-1-million-first-time/

i think i trust gold more than bitcoin. we don't know what is going to happen to bitcoin but gold will always be important.