Bitcoin Forum

Yesterday the bitcoin price dumped to 17,600$. A lot of people are saying that the bottom would be 12,000$ or 15,000$. Some even think that 6000$ is on the cards. However, we have seen some recovery in the price and it is now above 19500$.

Maybe 17600$ was the bottom or do you think there is more dump in the coming days/weeks?

Just a couple weeks ago people were asking if 30k was the bottom and many thought so.
In the thread I made  (https://bitcointalk.org/index.php?topic=5396673.0) many people thought that we wouldn't fall lower and some who did thought that we'd go to 23k or 20k. For me going below 20k was also a huge surprise because we rarely touched any levels below 200 WMA. You can see that in the well known stock to flow model that we stopped following last year for the first time in many years.

After seeing the price drop below 20k I feel extremely bearish, like I've not been since 2014 when Gox collapsed. I feel like we could be going lower and lower even to 10k because of people's stupidity. Going to 17k meant large number of investors left the market with losses. I doubt anyone who sold below 20k did that with a profit and we're talking about thousands of bitcoins. This is going to lead to a year long bear market. I hope I'm wrong about this.

Really don't know even personally I didn't think it would hit $17K before. But the $17K barrier has been breached and is likely to reappear. This is just speculation if you see the instability that is happening now if the price continues to break below $17K again maybe $15K can go down.

The problem is that we don't know if it's the real bottom or not. We just have to be prepared for the unexpected happenings. Yes initially the bottom that we have initialized was around $30k as I have DCA'd with Bitcoin that time. Then it dropped down to $20k, thinking that it was the bottom again. I DCA'd the 2nd time around $21k+, and here we are at a loss again standing at $19.4k+ as of this time in posting the reply. It's just that we make sure that the amount we invest or trade is something we can afford losing and not going all-in.

We have seen some recovery, but we still haven't felt the full impact of the Russian invasion on Ukraine, the full force of gass prices going up and food shortages, and that economic downfall will surely effect BTC prices. So I think it's still early to say what the bottom will ve, but it's definately a new set of variables we are working with.

A single day is too short term to predict anything. It could go to $22k tomorrow, or to $17k or stay at the same level. What is important is that the peak of a previous cyclle was broken on the downside, which happened for the first time in Bitcoin's history. Previously, Bitcoin had higher highs and higher lows, which was a sign of long-term bullishness, now this perception was weakened,

Way too early to say this. This might be the final bottom btc might ever see or it might just be tiny relief pump just to trap the Bulls further in the net to go down even further. I think both the scenarios have pretty good probabilities of being true. But at this point in time i have an advise for people who think they can't see bear run to get out around an area of 28-30k if btc reaches around there because this bear run might last pretty long and we might see btc and especially alts going to complete rock bottom before they begin to shine again.

Yeah, I saw a lot of tweets saying to get your money out of BTC because it will collapse. Others predicting that we will see a continue dump to $15k to $12k.

But obviously, we've regained some grounds today as we go back to the support line of $20k.

So it's either this year, we will see some recovery to the upper $30k'ish, or collapse to $12k, as the bottom price.

It's back to $20k and this is the weekend, usually this is where the dump happens in the past but now, it is what people have seen as a great time to accumulate because for the past weeks bitcoin has been dumping.

We still don't know if that was the bottom but hopefully it was. Or this could also be a trap and it can be worsen and be quick again in dumping. If it continuous to recover up to $25k, then that can be a confirmation we're already out of the bottom.

this should be in speculation but in my recent tweet https://twitter.com/41n_CuY/status/1538343118340505600
https://s3.tradingview.com/snapshots/w/wNLPnqqm.png
https://www.tradingview.com/chart/rAERMbmO/

max $10K but i down want bitcoin touch that level   :'( :'( :'( is already bleeding red everywhere

You have almost the same thread created just an Hour after another thread was created in speculation section here

https://bitcointalk.org/index.php?topic=5403237.msg60400853#msg60400853

though there is 500$ difference from the said thread , now we are looking for more lowering price and yet ?

Maybe it is the bottom? or this is the next lowering in the following days.

Nobody really knows…btc may go to $10k if the fed keeps raising the interest rates. But on the other hand, the markets may have priced in the rate hikes already. If that’s the case then yes, $17600 should be the bottom. We will see what’s going to happen soon :) You should have a plan for every market condition.

looking at the current market conditions i think $17k is not the bottom level. because there is still the possibility of going down deeper.
like yesterday bitcoin is trying to recover price up to $20k and it's awesome. but it turns out that the rejection a few hours ago was still happening so that it went back down to $19k. and now as i write this it turns out that bitcoin is trying to get back up and has already hit $20k back. However, if this resistance reoccurs, several sources have mentioned that a potential drop back to the $16k area is possible. So keep an eye out for day traders. but for DCA I think you can start buying gradually from the next support after waiting for bitcoin to be rejected or not. just wait and see. because many analyst experts say the bottom potential is $11k-$14k. but of course we all hope that doesn't happen. because I imagined the altcoin price would crash. but for bitcoin of course the decline will not reduce buyers. in fact if we look at the purchase order book in the lower area it is waiting and very much. so that reflections may occur quickly. then DCA and monitoring the market is a wise choice.

If we only we can tell this? then we are surely to make everything and purchase Bitcoin because of incoming  growth , but maybe ?  the fall is going to be more coming .

but make sure that you are ready to purchase anytime soon ,  and be ready to Keep holding till the Halving back in the next coming years.

In ten years this discussion will be interesting to read.

Short term changes in the price are basically impossible to predict, given that millions of people all around the world are buying and selling Bitcoin 24/7, independently.

What you can know, is that over the long term (4+ years) the amount of new coins entering the network will be lower. If demand continues at the same or higher levels, it would mean a higher price.

Few days back, people were saying 20k will be the lowest. Now we have seen something else.
See mate Cryptos are now a days very much unpredictable.
Many factors are affecting for which the price is so down.
Maybe Bitcoins might fall more, but it won’t drop less than 15k usd.
The reason for Bitcoins sudden increase in price from 17k to 19k is due to the traders who started buying the Bitcoins, seeing the low price.
Hope soon the bear market ends, and the cryptos turn green.

Don't exactly know what's happening next as only having watch over the market reactions at this time and prices are going through insane up-down rally like yesterday they were around $17.5k and now it has crossed $20k so what expectations you are having at this time? Just holding with full beleive and in long run it will rise so not much worried.

This type of question is like asking what number will come out in the lottery tomorrow. If people can predict the bottom price for bitcoin then no buy and sell will happen in the market. People will just wait for the bottom price to buy which is very impossible. Bitcoin will lose value if no one is buying or selling, there should be a constant exchange between the two. What we can do is just prepare more funds  in case market goes lower.

I have also consulted some analysis on the future of BTC, but I feel that all judgments are for reference only, and their application in the investment process of each person will be different. On my own journey to find opportunities with BTC, I realized many things. That its volatility is an opportunity for me to buy and hold them until they can rebound and increase. Looking back at supply history as a With the current economic developments, BTC, I always see the potential it can create. Even if the price has dropped a lot from the previous ATH, those who have gone through these stages understand that it will bring opportunities and price surprises in the future.

We cannot be sure about it at this time. Considering the current situation of the market we cannot be sure which price level is the bottom because as far as I can see in this situation any uptrend price movement can be just taking a rest to save the potential for the lower levels, just like an oppsite price correction because the trend is still pointing to lower levels, according to some analyzes there is a price gap to the level of 13.5K and people are waiting to see bitcoin trading at this level, but since we cannot predict the price, that's just a possibility see the price touching this level.

If Bitcoin continues its 4years cycle legacy, yes we should be looking for a lower price but this may not happen this Q2 and it should be expected in December.
Therefore, $17600 is not the bottom price and I expect the last bottom price to be at least $13,757. This is my prediction based on the historical price of the Bitcoin market and the prediction may not be accurate but $17,600 is definitely not the last bottom price.

Just as @darkangel11 has stated above, I feel this is something we should be concerned about, that is the 200WMA
https://i.imgur.com/QlzyrCg.jpg
The last time the market fell majorly below it was back in Nov. 2018 and the market didn't get out of it for approximately three months, I am not saying this might repeat but who knows but we do understand that that is a major resistance the market now needs to close above to continue the momentum upwards.

I'd say that the ~$12k level would definitely act as a good base for Bitcoin to bottom out. However there is always the black swan event. The instability in international politic relations is not doing any good to the economy and we all feel that. As far as I am concerned I'm not convinced that Russia won't release a military war on NATO in the next few months. Historically after economic and politic conflicts, military ones come.

But nevertheless I see the area around $12k to be a very strong support level that could act as a springboard for Bitcoin. The "big players" are surely watching that level as well so prepare to see serious volatility if we reach that target.

Frankly, I have my doubts. I've seen forecasts from various traders who talk about a day at around 12,000. Well, for now, the only thing left to do is wait.

We have seen $30k many were saying that was the end speculating it wouldn't go below $27k but yesterday it was down to +17k and now have recovered and gain momentum another still speculating again saying that could be the end of the bull. My question is; How many Bitcoin are holding to determined the market?
i guess those have thousands can say and shake the market. why getting worried over what you don't have instead acquire it when it low.

Since inflation does not seem to be slowing down, the Fed will continue to raise interest rates until the end of 2022. As interest rates rise, bitcoin and other risk assets will drop.

As of today, bitcoin is up and above $20k, but we cannot determine whether $17.6k is the final bottom of this bear cycle. The only thing we can do is prepare for the worst that can happen, even if it has never happened before.

Unlikely

Possible

Highly unlikely

I don't think Bitcoin will break the previous crash percentage from it's ATH on 2017/2018 year, it's around 85% dump. Now we're around 70% from the previous ATH, so it should goes lower to $15K if many people still want to make Bitcoin price decrease. As soon as whales saw the Bitcoin price is touched $15K, they will start bought the dip, like when Bitcoin touch $17K.

I don't see much more of a dump in the coming days or weeks now that $20K has been reclaimed. Getting back above the 200WMA @ $22.4K would likely cement that theory further. But I wouldn't rule out a dump to $12K in the coming months if price get's rejected from $30K (previous support) and fails to hold the 200WMA as support thereafter.

For now, price remains too oversold on the Weekly time-frame for lower prices imo, at least now we've seen a reasonable bounce from previous volume support level of $17.5K to $20K.

Possibly not, we usually bottom in December or early year (before the halving, which is in 2024). So in essence late 2022 or early 2023 SHOULD be the bottom if we are reflecting previous cycle bottoms. Obviously past performance doesn’t always repeat. I think possibly we go lower though, I hope not but it is what it is. Governments will probably announce a great recession later this year which would ignite another sell off. Also MtGox trustee might unload those coins back onto the market plus companies like BlockFi might blow up as we saw with Celsius & other lately.

I hope the bottom is already in but I doubt it.

Maybe you are right that the end of the bear market will be at the end of the year, November/December time. In fact I also think that price will bottom out then as well (1 year after ATH). But you do really think Bitcoin will need to go lower than it's current low (or near future low) in order to confirm the end of the bear market? This is the part that I'm not so convinced about, as the momentum for the bull market ended in May 2021, so I wouldn't be surprised to see bear market momentum ending a year later either, with instead a "traditional" re-test of the 200 WMA around $25K or something similar at the end of the year.

I'm just trying to factor in the differences between the 2021 bull market and how it could effect the 2022 bear market, while respecting the theory of the 4 year cycle rule. For example it hasn't taken 12 months to reach the 200WMA after the ATH, but only 6 months. Coincidently, it has taken 12 months since bullish momentum ended. Maybe this will be re-tested in 6 months @ $25K, or even much later in 12 months around $30K.

Grab some popcorn and go over these topics
They have all the same reasoning for the bottom at the price mentioned just like this one

Bitcoin's Recent Drop Below $60K Is Not Worrisome, Analyst Says (https://bitcointalk.org/index.php?topic=5371847.0)
Will $50,000 be the resistant price? (https://bitcointalk.org/index.php?topic=5357261.0)
₿ not going below 40.000 (probably) (https://bitcointalk.org/index.php?topic=5382213.0)
Is $34k the bottom?? (https://bitcointalk.org/index.php?topic=5382683.0)
is $30k the bottom for this dip? (https://bitcointalk.org/index.php?topic=5382480.0)
Was $25K the bottom? (https://bitcointalk.org/index.php?topic=5398648.0)

But just like a broken clock, if we make a topic at every 1k increment, at least once we're going to get it right!

Yeah, I really think this was a real bottom
https://i.ibb.co/qCGk680/Screenshot-460.jpg

Actually I don't know if this is true. But if it broke the support of $20K, it was likely to go to $13K. However, it started reasing again from 17 and rose to 21. However, it cannot be said yet that Was 17600$ was the bottom. It may decrease again.

There is no telling where the bottom really because every time frame has its bottom. The weekly chart shows the bottom @17k which is where we are right now. This bounce can still be considered a dead cat bounce.

Looking at the monthly chart, we have yet not touched the bottom. So it could dump going that low to 13k or could also go straight up.

According to some analysis, the bottom of BTC should be in the 12-15K area, if at this price it breaks, then there is a possibility that bitcoin will return to 10K. However, going back to market sentiment, if in the end the market sees 17K is the deepest, then BTC could slowly reverse from this price. Everything is just a prediction, it could be wrong predictions.

20k made a lot of sense if you think about it. It was the prior high which should be a strong support. It also was below 200 week moving average that serves as strong support in every bear market.
The panic was just too much for these levels to hold and it was all bought by whales. Just check some of the richest addresses and you'll see they were accumulating below 20k 1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ, one of the biggest whales, bought over 1,5k BTC and started buying on 14.6 which was the day we first touched 20k.

Basing on technicals then 12k or even 10k could really be that possible but there are no assurance for it to be hit and speaking with the current price as of this moment on which it's starting to cling or climb up but doesn't give out any sureness that it couldn't drop even further or simply shows some dead cat bounce if we do sepak about technicals but we know that this market is really that unpredictable or something that can't really be predicted on what's gonna happen next.Always presume about the possibilities about price crash and correction which is something normal or usual on this market.

We should be very careful at assuming that number is the bottom, we are seeking all sorts of problems in the world economy and it feels like they are just beginning right now. Stock markets took a mini tumble but we are barely breaking the surface of bad news to come with the inflation rate in many countries still widely out of control, people had a lot of savings from Covid and the jobless rate is low - but one day soon that flip will start to switch. Highly risky assets are among the first to be dropped and they have been taking a rather steady decline lately, it's possible if the stock markets drop quick in a crisis then Bitcoin will drop right alongside them. Now is the time to diversify a little if Bitcoin is all you have, I'd rather have 50% of something than 10% because I left it too late to get out.

what i really want us to know about bitcoin regulatory system of increment and decrement is that know one knows the proportion Bitcoin or measure Bitcoin will take in next. Because bitcoin price can be stablize or decreases more, it's the determination of market cap to know the strong bond of bitcoin market regulations or not. Discussing something under assumptions or making a point of speculation in price is not suppose to be dependable. That's while i followed what the give to me.

This is the million dollar question and in order to predict it exactly we would have to know what events are going to happen and what influence they are going to have on the price, which is impossible.

If we are going to analyze, it doesn't seem far-fetched to me that we will still go lower than that price in the future dip, but I don't see us going much lower than that because prices under $20k are a bargain for those who have a long term vision and trigger buy orders.

is there something we need to know? everything in this cryptoworld are speculations , we can call it now while it is different in the next day, so let them bring their perception  but do your homeworks for your own profiting .
Maybe  yes? or Maybe now ? the bottom will be happening in the next coming year , because remember that before halving there is always a dump to come.

I really hope this was the bottom and we are not going to see more dumps this year. The high volatility in the bitcoin market last week was really scary. The news article I read were really pessimistic and already expected a bitcoin price of below 10,000 USD. As always bad news sells much better and generates more clicks. Hopefully the longterm investors are not giving into that pressure and keep their coins. I am definitely not selling any of my coins. Also technical indicators showed the support barriers around the 14,000-17,000 USD level. And Robert kiyosaki stated publicly that he will be buying heavily around 17,000 USD.

I still feel we aren't done with correction yet. My reason being that there isn't anywhere to find a major support again after it broke the $21,000+ line a few days ago. That's where it's at currently in rebound. On the weekly close, the bears aren't done. Though at Daily and D4hr TFs, there are signs of reversal, I still want to go with my earlier projection that the bears aren't done yet. It seems a bull trap for me. While I believe $12k could be possible, I don't think we can FUD Bitcoin to $6k.

It is unlikely that we will see some improvements in cryptocurrency markets before the global economy generally improves and stock market indexes rise again. However, if the US can resolve its present administration's economic difficulties soon, and should conditions improve around the world, the overall stock market indexes may rebound. This would provide opportunities for a short-term buying frenzy, which would be a good time for traders to find opportunities to initiate new positions.

In terms of the price of Bitcoin itself, there have been several such declines in the past, with the biggest occurring after the bull run in 2018, when its value fell from $ 20k to about $ 6k. But as time passed, and the long-term trend reversed itself, Bitcoin's value began to rise again. This is still a fact that can't be refuted, and it has been consistent with Bitcoin's traditional trend.

I hope that the price of Bitcoin is no longer dropped below $ 20k and of course $ 17600 is The Bottom, and we wish to congratulate those who buy at $ 17K, if they sell now, then you have more than 20%profit, this is what we like From Cryptocurrencies, profit opportunities are very large in a short time.

We are not sure if we are already reached the bottom but what I am surely know is that the market is yet stable there are many obstacle to come from now and the following months.
remember that we are only going to enter the 3rd quarter in the 2 weeks time in which another dumping quarter as the record shows.

Not sure what exchange or trading pair you were looking at, but I don't think you did see price at $22K 12 hours ago. Maybe you were thinking $21K or something before $20K was re-tested. Last time we were above $22K was 5 days ago. As of typing, price is currently the highest since July 16th, 21% up from the lows. Looks like we were well overdue a bounce and now we're seeing one.

For anyone that was one of the lucky few that were able to enter the market at the bottom or close to it there is not much of a need for them to sell their coins for such a small profit, if 17k was indeed the bottom then this means that during the next months or years they will not find themselves facing any kind of loss on their investment, which will allow them to hold their coins very easily without having to worry too much about it, unlike what happens with all of those which bought close to the ATH which will have to suffer almost every day as they see the price remaining so far away from the ATh.

The market looks strong today, Bitcoin breaks out $21k and moving smoothly.  Also, rest of the markets performs well, it's always great to watch green market. If anyone really thinks long term, hold is great. Purchasing when the market are transforming into green pretty insane, yet focus on something else for some time for making entry. Do your research so that you can still make money regardless of what direction the market heads. Bitcoin is the ruler, purchase if you can afford.

The market is getting a little green. Along with bitcoins, altcoins are also trying to rise. But the market is still in a bad position. It can go down again at any time. However, if you start going down this time, the price of Bitcoin will go below $ 15K. And if Bitcoin goes below $ 15K.  So, the market is not likely to be good in the couple years

Because I'm not a whale or a big investor, so I'm a bit indifferent to the Bitcoin price phenomenon, $100k or $10k, I have done a lot of research and read about Bitcoin speculation in 2022 and beyond, of the speculations that I have seen below, the most interesting for me to be used as a guide for Bitcoin in the future.
For example:
BITCOIN MIGHT GO TO AS LOW AS US$10K BEFORE MAKING A COMEBACK (https://www.analyticsinsight.net/bitcoin-might-go-to-as-low-as-us10k-before-making-a-comeback/)

From the data above, I assume Bitcoin will go even lower than the current price, the bottom line: I hope, if it happens $10k, hopefully I can do something in Bitcoin for the future, I really lose, if the opportunity goes by and it's useless knowing Bitcoin has reached the level of $ 10k, without doing anything for sure and always in failure.

it's an assumption, actually you got it right, because nobody will like to waste it fund or capital to buy cryptocurrency for higher price knowing that it will decrease to lower price as bottom side. If this actually happen, i think everyone cryptocurrency investors will exercise a huge patient to wait until the time it will get to the bottom side of cryptocurrency before buying. So from another dimensions it will basically have no Lost, because everyone knows it's time to invest.

I think we've just made it through the liquidity crisis that Do Kwon set in motion.  That's a huge step towards recovering to a healthy market.  One still can't ignore coming challenges though.  While we may not see further downside pressure from the events currently suppressing the market, there's still all the ETH2.0 coins to be unlocked and the mtgox coins waiting to hit the market.  Once those two challenges are in the rearview, it'll be off to the races again.  Those looking to catch the absolute bottom probably still have their opportunity ahead of them in the coming months.

Not all no, most are locked up in Lido as stETH and as we've already seen in recent weeks investors aren't waiting to redeem their stETH 1:1 with ETH, they seem quite happy to sell at a 5-10% discount, knowing price could easily be 5-10% lower than current price when 2.0 launches. Or others simply wanting more liquidity for any potential (anticipated?) further downside. Sure there will be others that will be keen to unstake and sell that are running nodes, given that prices are back to where most would have locked them up, but overall I think this is an issue for the wider altcoin market, thus unrelated to Bitcoin.

Thinks like Luna dumping BTC treasury affects Bitcoin, DeFi liquidations that were leveraged with WBTC (Wrapped BTC), 3AC insolvency when enough was long on Bitcoin, but locked Ethereum? I don't see the relevance at all, only that ETH will likely dump fruther against BTC in the near future, not necessarily USD either. We've seen this enough times with bitcoin seasons that can remain immune to shitcoinery.

That doesn't rule out Bitcoin recovering, to me it only suggests a 2019 scenario of a considerable Bitcoin recovery, followed by more carnage in the shitcoin market (valued against BTC at least).

No one really knows what the bottom is, even an expert should be difficult to predict it. $10k, $12k, or $15k for the bottom is purely speculation, people guess it with their own analysis. Sure, no guess who has a big accuracy, sometimes people just speculate it without any reason/research/analysis. However, speculation about the bottom will be $6k seems too much for me. I know it is not impossible, but it is too much if we consider the BTC ATH in the previous year.

My best guess of the bottom would be around at $12k to $15k if ever it's going to dump again but for now let's settle with the $17k then. Let's not expect something from the market since it always disappointing us when we try to speculate a specific price but it's not going to happen.

The best way to do for now is to buy that dip as much as you can because you won't be able to see this price again in the near future. This would be the cheapest price you will ever get so just think about it like that or you will miss the ship again. A lot of people keep regretting their decision in the past that they did not do when they still have the chance but instead they doubted.

Some of the members have already speculated $17,600, that's the bottom or there's another time we never imagined.

I understand Bitcoin once in four years there is a change in terms of price, before the next ATH occurs, my understanding and my belief is that this is not the end of the bear market, there is still a continuation, I don't know how much we'll see.

I reckon things are getting started now. Wherever I go prices are rising. Not just 8.6% inflation but way more. This will lead into much much more economic decrease and I don't think people will be able to hold onto to their precious coins. No some of us may be forced to sell, which will create more downward pressure on the price.

Despite that we wanna see it as a possible bottom and a stronghold for supporters, there are no guarantees or promises about it. Anything could happen without warning, coz’ it’s possible that it can still break the support level like what we have initially expected. Actually, it’s way beyond our expectations that the Bitcoin price declined like this due to many factors such as the Luna crash, Celsius pausing withdrawals, etc. Typical market manipulation by the whales.

But we don't know that there prediction is exact to what's going to happen on the market because even if we are quietly have some little pull ups still it will never give any guarantee that the $17,600 is the last dip we can see. Maybe there will be more as the target of other speculators is at more bottom of $17k or more.

Yeah, it would be a shame if the price goes down but we do not take advantage of that. I still think that we reached the bottom, but that is something I have been saying for a while so I am not going to act as if I know everything about bitcoin, it could still go down, but we should be taking advantage of it right now, so that we wouldn't be upset if it goes up without ever going down further, but we should be ready for another drop at the same time if it happens.

Maybe do not use all of your money and use some of it, and then go in even more later on? That seems like something that could be done if you ask me. Definitely a challenge, but could be done.

Surely we do not want to see the price of bitcoin drops below $ 20k, when the price of bitcoin drops around $ 18k I think that this is the best decision to avoid losses but I am optimistic that the market immediately rise again, although now it hasn't moved away from the red zone but I will Hold at least 6 months.

Did the price really dumped to 17.6k last week? It's too early to say that 17.6k is the bottom just because we are seeing 20k now because a lot of times we have been on this scenario where people expects a recovery and a pump but the opposite always happens.

I think this was just another prank or a trap as they call it, for some people to buy more because there are people that fomo's whenever they see a recovery in the price but aside from the figures above, there are also some that says btc can go 1k and below it but I won't believe on all of them not until I see it happening.

Yeah it did happen

Bitcoin briefly dropped below $17,800 as sell-off accelerates — here’s what happened
https://www.cnbc.com/2022/06/18/bitcoin-price-drops-below-18600-as-sell-off-accelerates.html

Considering  the bottom? Its really hard to make out some conclusions which we know that the market is totally that unpredictable or something
doesnt give out assurance but seeing on the market condition then it do really have some positive pullbacks.

We all can have our own speculations and price prediction, however, these all can't be said was right or wrong. Even having the basis like citing the past events and market history, still can't assure about it, we know how the market works, unpredictable. We still don't know if we have already touched the bottom price of Bitcoin or if there is something that might surprise us someday as to see that the bear season isn't finished yet, we don't see any significant reason for the price hike that is why we could expect more dumps after a short rise.

As you said, the movement of the crypto market is very difficult to predict, so each of us should do some research and analysis. So we can predict
where the market will move, because relying on other people's predictions is not the right action. There is no guarantee that other people's predictions
are more accurate than our own, so we must believe in our own abilities. Because only we ourselves know what is best for ourselves, so just do what
we think is right, that's what we should do. Then never be afraid to fail, because failure can teach us how to achieve success. So we decide
for ourselves the steps we will take considering the current market situation, but according to my prediction the market will still fall even lower.
So I decided to monitor the market movement first, to be more convincing of the decision I will take.

Bitcoin price already dumped and touched $17k and too early to happen. But bitcoin price early dropped in 2022 and staying 3-4month around $40k+ but last 2 month bitcoin price dropped  unrespectable. Bitcoin price touched $68k+ in 2021.we know Bitcoin has always up to a new ATH every dip so maybe we see 75k+ next pump.

I believe that we could be reading too much into this, I mean if we are thinking about the price recovering to a high level, eventually it will be enough to call it a profitable one, and won't go back to bottom.

Sure there are levels to this, just because you reach 23k doesn't mean you won't go back down, but if you reach let's say 33k, it sounds like it would be hard to go back down right? Or go to 43k? That would be still "possible" but definitely not likely. Which means that there is a number where we can go up, and then say that we won't find any lower bottom and that was it. We will not be sure if that was the bottom until we reach those prices, but we will know when it happens.

Looks like we are doing fine. Many people are scared that we could still drop and this could be a dead cat bounce, and I have to say there is no way of knowing if it is or not. However, I can say that it is definitely looking like something that would be very dangerous for all of us if it turns out to be that way.

I think it is doing a good job right now where it is, and if this goes on for a while longer then we will be doing fine, it is going to take a while to learn if it is doing great or not, but that means we are not going to get an answer right away. Let's wait it out, it will be a great situation to wait, and it will result with a good answer eventually.

We havent yet proven the decline has ceased.   Price action remains below the 200 week average, as a recovery we're mid way and its quite weakly attempting upwards still.   I think we do need to see BTC close on Sunday the weekly bar above 22.5k or so.      So to the OP question no not yet, the door remains open.

Probably not, because it doesn't look like a major psychological barrier - that would be close to $10,000 which is also a point from which the bull market has started. Also bear markets usually last for many-many months in Bitcoin, and it hasn't even been one full year since the ATH.

There is some chance that it was the bottom, but I wouldn't rush to buy Bitcoin now, there will be plenty of time to wait and see if there will be a better price or not - it's not going up anytime soon.

Until now the price of $17700 is the lowest, but we don't know what will happen next, even though the price has not dropped below $20k for 4 days but we must always be vigilant, it's better to sell immediately if the price is below $20k.

Well, for all of us who have been around for longer, we have seen that often times the cycles more or less applied repeatedly, but we are now in quite a special situation I would argue. Surprisingly all markets exploded during the pandemic, but that was because of the absolute crazy money printing. The money went into assets, hence inflated the price of those assets, but now the consequences take into effect in terms of inflation. If the inflationary effects lead to people having less and less money in their pockets, it is not about buying Bitcoin to hedge against inflation (because the money in the retail sector simply isn't there), it is more about money that COULD have been used to buy Bitcoin is now needed to pay for the basics in life.

I am really uncertain about the coming months because of potential repercussions from the pandemic and the ongoing war, both firing up inflation even further. So the cycles we are used to to a certain degree don't seem to fully apply at the moment. Any thoughts?

For now $17600 seems to be the low bottom. This can change with time. Right now the market price of bitcoin have crossed $21k. This is just the nominal growth and for the same we can't take it as bullish move. The fluctuation continues and there is no stabilized growth. For now we can't get into conclusion on the low bottom as well as the market trend. It is time to do DCA and buy to avoid unexpected market moves affecting the buying price.

Personally I consider the bull market to have ended in May 2021, rather than ATH in November, as to me the second peak seemed more like a dead cat bounce and bull trap. Also because it's taken 13 months since the first peak to reach the 200 Week MA, as opposed to 7 months from ATH, and we've never seen Bitcoin reaching the 200 WMA since ATH within such a short time-frame.


I'm also not rushing to buy more Bitcoin anytime soon, as if $17.6K was the bottom, then I think price will revisit current levels (or around $25K minimum) within the next 6-12 months. I'm just generally surprised that most people don't see a dead cat bounce scenario similar to 2019 given how oversold prices currently are, back to $40K to $50K levels, prior to a second drop to end the bear market.

Why would you rush into bitcoin right now? It is at or near the bottom levels and there is a good chance it may not go down any more, it may end up with a big increase and we will make a ton of profit from it.

I understand the fear that it may have a bit of a drop from here as well, but we have dropped so much already and I doubt that it would have anything big again after this. It will most likely be something that is a bit more towards how we see things in a perspective of maximalists already, because we are getting there. If you wait out too long then you are going to end up with a big upset in the end, and I would suggest not to wait that much longer.

I thought it is but after what had happened and how the market is still showing no big response now? I believe that we are waiting to see another lowering market and maybe that some says 13k will be the possible lowest price?

But of course I will be very thankful if at least we are now safe in dumping and this is the maintaining value till the end of 2022 comes.

Hopefully, the price drop at $17,770 is the lowest and doesn't happen again or even touch lower prices. If it happened again, there would probably be more people panicking and selling their bitcoins quickly, while people with lots of money could use the moment to buy more bitcoins. Yes, we still have to be vigilant because the price of bitcoin can go back down even though, at this time, the price tends to be stable at the current price level.

these few days no more declines, so I can probably expect a lot for Bitcoin support at $17600 is strong,
and hopefully July is a bullish month for Bitcoin, because we have been in the red zone for a long time

Nearly a week prices above $ 20k even though it is still close to fall down $ 20k, we can say it is safe if the price has reached at least $ 30k, and of course we hope the price of $ 17k is The Lowest Record and I don't want to see the price of dropping again.

It is difficult to predict what will happen in the next few weeks or months, especially in the current situation of the crypto market which is still in a bearish phase. it is likely that the price of bitcoin will fall even further. Even some people predict the lowest price of bitcoin is $13k. It's better for us to wait and see where the direction of the bitcoin price movement will go.

everyone wants a cheap Bitcoin price, and it can be under $15k, but I'm sure the Bitcoin price won't go below $15k,
because the more people want cheap prices, the easier the whales will accumulate, and the whales will pump to make sure that $13k is a dream

It's indeed difficult but as the market goes now, I said the chance it goes lower, even lower than the 17600$ price which a lot thought was the bottom. It isn't hard to see where we've gone when the situation in the world looks grim every day, both in economic and political stability.

I think so. But there might be a sudden dump to $16.5k and move upward much faster towards another ATH this year and this might happen probably by end of November or December 22. The long correction created an opportunity to pile up as much as everyone can. I am sure especially the whales might have piled up a lot and now ready to play with it on profits. Hope July 22 should be a market of Bullish.

we should expect bullish market in next year not exactly this year again. Bitcoin is at twenty one thousand (21k) their is every tendency that the price will decrease again. Because cryptosphere marketcap is not constant in all ramifications of price. From my perspective i know vividly from initial that cryptocurrency it always be reversible in price  , example from higher concentration to lower concentration and it's applicable when the price is low..i want use this medium to recapitulate that bitcoin price is under the Flux of rotation and it's not constant

The main difference between the previous years and this one is the economical crisis that will refrain everything and could limit the rise to the bitcoin price.
I assume many people are using their crypto funds to cover the expenses that increased after the war and covid-19.
I don't see why the price will drop again under $20k but everything is possible of course..

Here is a super simple take on when is it go time for BTC to at least break its most recent selling.   I expect a serious of movement upwards not just one but a good start is to outrun the overall selling trend, when that occurs its far easier to rise.    These are weekly bars, you can see we are constrained post bottom pricing and confidence remains low.
https://talkimg.com/images/2023/06/12/AsR53.png

A success condition for this scenario would be about 25k, I take that from Fibonacci levels using peak to trough prices as per OP.   It also matches other perspectives such as the moving averages, as yet we have price action still left with much more to prove.

Right, it's been more than a week the price of bitcoin is not dropped below $ 20k, of course it will be a difficult thing if it falls again, it may take more than a year to be able to pass ATH that occurred in 2021 ago, our focus at this time is to immediately see the price immediately Bitcoin goes up and hopes that prices will reach $ 25K before July.

I guess it is obvious that all of those people want to see a low price so that they would end up with buying it at as bottom as possible so they could make a huge profit. Buying at 15k and then selling at 60k means 4x profit, buying at 20k and selling at the same 60k price means 3x profit. This is the difference between 15k and 20k which is why there are so many people who wants to do this.

I know that it is not going to be that simple, but it is going to be pretty difficult to ignore as well. Many people will keep on considering that angle and they will keep on forgetting that they would miss out on that 3x profit if they keep wanting to make that 4x profit instead.

Given the current bearish crypto market conditions due to inflation and aggressive interest rate hikes by the Fed, it is likely that bitcoin prices will drop to $19k-$18k prices. Moreover, negative sentiment in the crypto market is still increasing and the sell-off in the crypto market is still not over.

What a twist though, then Fed make such announcement today, the price seems to go over $23k.

Maybe this is just a manipulation or catching a falling knife scenario and could be a trap. Nevertheless, this month we haven't seen the price going down hard and it keeps on trading around $20k-$24k. So for now, the button might have been reach. And the price could be in this range, trading sideways for a long time. But hopefully we will have a break out and it will be on the upside.

The price you said happened in the market last month in Bitcoin so it doesn't seem like a big surprise anymore and the current Bitcoin price isn't that far from your stated price ($23k vs $19k). So what needs to be seen now is the issue of negative sentiment towards the crypto and Bitcoin markets because that can sometimes influence some people to let go of Bitcoin at this time.