Bitcoin Forum

Firstly it is great to have found this forum, makes a refreshing change from Crypto Twitter haha.

I have been thinking over the last few days that the bottom for Crypto may be closer than we think? After all the FUD and bad economic news, it does seem that $16k was very solid for Bitcoin. I was just reading this post that I came across on Twitter: https://cryptochiefs.io/crypto-outlook-2023-is-the-crypto-winter-nearing-its-end/

What they are saying does make sense. Especially about the Fed Pivot, as I think the rises will be paused very soon. I think the economic situation will improve dramatically over the next 12 months.

This leads me to the question... so I need to start accumulating more heavily? LOL

We're still 500 days away from the next halving though I don't think people are going to be too optimistic about it yet. Whether we fall more or don't remains to be seen though, since most of the stuff to do with ftx and other insolvances didn't cause too much of a problem with the price, I don't think we're guaranteed to go much lower but there's still a chance a stock market crash causes everything else to panic with it (I think it's fairly likely we see one of those this year).

Bitcoin started to falter when a recession was starting to materialize in various strong economies around the the world, first it stumbled due to Covid and now due to Russia's invasion of their neighbor. While we have seen a recovery in business, people are still in shock and maybe the recession has not fully completed itself yet, so there could be another year or two of people being very careful with their money. It's also a lot more expensive to borrow money, while Bitcoin's massive spike was in some ways caused by the ability to borrow at very low rates. It pretty much became a game of pass the parcel until the music stopped and the game could still be running now, so people are reluctant to get back in and may be looking for the next wave to ride.

Bitcoin is master on the art of the unpredictable, every scenarios are possible to happen anytime, unexpectedly. What we can do is to observe the fluctuations on the present time, comparing to previous situations in order to predict the most likely next tendency. What I can say is that bitcoin is clearly showing satisfactory progress since two days ago. It's really inspiring and rewarding to watch the charts displaying the current bitcoin's steps. I can feel an optimism taking control of investors, like we haven't seen during the whole 2022's years. However, it's necessary to keep our feet on the ground to not start giving free rein to our imagination. The bear market isn't over yet and we need more evidences of investors' optimism before finally concluding it's happening for real.

I agree that people might not be optimistic until they get this feeling of halving being just around the corner but that doesn't mean they'll be willing to dump.

I feel like we've reached a period where there's not enough bullish people to start an uptrend but those who wanted to sell did so and people who still hold bitcoin went through a drop from a possible bottom of 30 thousand down to 15. They aren't going to get scared now because another 50% drop is very unlikely.

We're going to stay in this range until something really bullish happens that drives the price up.

Accumulating is always a good idea, but I'm really confused by people who didn't want to do it at 16 thousand but want to do it now. It doesn't matter in the long run if you bought at 17 16 or 15.

This is what we should really be having in mind which there's no way that we could really be able to determine if this one would be the bottom or not where we could only say if it is when it is already that rising in
value or its price which is something unpredictable since from the first place.

This is why you should really be that versatile and be aware on how this market behaves so that you wont really be that everytime hassling or stressing yourself asking into your mind whether this could be it or not.
Adapt entirely when you do see on whatever price movement that it would be making.Not all would really be having that risk taking mindset when it comes to their investment but rather they would really be holding up their position and would really be observing on where it would be going, this is something a very common behavior for investors here on the market.

There is still a lot of FUD about exchanges and all the new investment methods that have come out in the last couple of years. There is a lot of insecurity. And yet the price held at a very high level and with that, if no major problems arise in the coming weeks, it is very likely that this is the floor. But as always, any crisis can cause a new despair in the market and the fall can be big followed by a resumption of the rise soon after. Buying and holding in the portfolio can be excellent, betting on leverage is still a very high risk.

Its close in that we are closer to the bottom then the top where we were, in optimistic view we have surely shred most of what there was to lose coming 60k plus down to here appears to be a heck of alot.  We know a ton of hype and 'froth' type action occurs in BTC pricing so in that sense the bottom pricing is a ton of more solid content and we are for sure closer.  Everything I've seen prior cycles the bottom pricing is alot slower in its movements, people get bored but in a sedate way it can be considered bullish.  Its like a tortoise and the hare type race dynamic imo, people over react to both instances and gears that BTC can be in.
  Short take , BTC has alot of work and still time ahead of it before a proper full recovery imo

If you can of course, it's not too late yet, you can possibly make a profit if you're willing to wait for it.
I read a lot of questions the same as you ask if it's the perfect time to invest, my answer is yes, and how much you can afford to wait?

FUDs continue spreading because of the recent news of a centralized exchange collapsing, that's why the Bitcoin price movement remains struggling at this moment because a lot of people learned from past mistakes.  Though it's unpredictable sometimes the price always matters on what happening outside or even manipulation like social media spreading the worst news about crypto.

You should have started it weeks or months ago. Choose to dollar cost average your investment money rather than invest it in one big purchase. DCA during dips is especially attractive.

The volatility, uncertainty, and unpredictability of Bitcoin are high. It is better to prefer DCA over one-time investment. The price could actually go up just when you thought it's going down, and down just when you thought it's going up.

I understand that you're probably one of those who wait for a sign of recovery before investing. You might do it now. But be careful, this might just be a bear trap. Either way, DCA.

What is your main reason for asking this? have not mentioned if willing to invest or just curious to what will be the future prices?

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If we are going to track the chart? you'll see that bitcoin bottom cannot be predicted as the last bottom was below this value now , and had just increased 2k from it so there are so much potential for bottoming again this year.

Anything can still happen, as you have said, perhaps the Feds statement about the CPI is very important. And maybe if they pause or some statement that everything is going back to normal as far as the US economies then it might be good for crypto and the rest of traditional market.

But nevertheless I will still be cautious, there are speculations saying that we haven't seen the bottom yet.

So it's better to be prepared than be disappointed, just continue to accumulate and we will be good till the next block halving and bull run.

I don't think "everything is going back to normal" any time soon, I expect more of the same for the foreseeable future.

I didn't think that the lowest bitcoin price was $16k because the bitcoin price could touch below $16k at any time. The current price is not impossible to fall even deeper, but the question is, have you bought bitcoin at every lower price?

But indeed, the situation in this new year is getting better than last year because we can see a slight increase in the price of bitcoin. But that does not mean we will continue to see the price of bitcoin increase because any increase will surely face a correction for a while. You can still collect more bitcoins because the price has not yet reached $20k and the current price is still worth buying for you and all of us.

It is good to see some green at the beginning of the new year, this makes people feel optimistic, especially Bitcoin lovers, there was a stagnation in the price for a long time without any significant movement, but now some movement has begun, so people felt optimistic.

I hope that this greening will continue, but I expect that it will not last for a long time. When Halving approaches, the demand for bitcoin will increase dramatically, especially from whales. Therefore, I do not think that we will see strong rises in bitcoin before the end of this year.

Back in June indicators like RSI signaled market had dipped to its lowest. Apparently, it didn't rise up after a few weeks, and then by November it goes to $15K. It could be the bottom already yet the market is very unpredictable. The FED they said will pivot which was also anticipated to happen, I guess that will be the moment the financial guys are saying.

If it goes below $15K in a few weeks, then we are really going to be seeing Bitcoin bottom on the monthly chart which had not yet happened in the history of BTC.

If that's the question, then the answer is yes you should collect more bitcoins in your wallet. This is an opportunity that may not come twice. I'm not just suggesting that you collect more, because I've done that myself. If buying in bulk is too much to do, then DCA is the solution to that problem.
There is no mistake that FUD is heard everywhere, but if we have been in this space for a long time, this has become mainstream news and even I personally have ignored it, because I know there are people who want to take advantage of this situation. So rather than hearing news like that, I better be consistent with the strategy I'm using now.

It's too much of a headache to even think about if the market already bottomed or not, instead of doing this I will keep buying when I have some money since we are still in a bear market anyway, if BTC dips to 10k it is going to another great opportunity to buy.

I have a portfolio I built when BTC was 17,000$ in June 2020 and I have another portfolio I built when 15,000$ per BTC happened, it won't hurt to build another if 10,000$ per BTC happens.

I'm not really bothered about the down speculation of bitcoin for this year because it has survived this speculation from after it went to bull. Looking at the time for halving and the distance now is around a year and that is not too much to bear even if there is price drop. The history of bitcoin has been after bear come bull so nothing different is to happen, soon the bull will arrive so going in now by DCA is still appropriate.

It is very likely that the Fed will stop raising rates, but that does not mean they will cut rates, I think they will keep rates unchanged until the end of 2023 and maybe 2024. National economies are starting to absorb interest rates more than we thought the crisis was over. I think that's why many economists predict we'll enter a recession in 2023, not a post-crisis recovery and growth period.

Whether the economy will get worse or better, don't hesitate to accumulate bitcoin, as this is already a very good price to collect, we are already very close to the bottom if bitcoin falls further this year.

If you have money that you want to invest and not use for anything else, then collect more Bitcoins from now on. We're going to see a lot of profit in the long term. See how bitcoin is still holding in the $16k-$17k price area and currently there is a tendency for recovery. 2023 could be a good year as long as there is no FUD like the previous ones. There's nothing wrong with collecting more, it's the same as making an investment that will give you future profits from every bitcoin you collect. if the price can be much lower than now, that will also be the best opportunity, but don't get your hopes up, buy gradually.

Will always be hard to tell. The market price could stabilize, go up, or fall down. Depends on indicators and factors. Right now, I think it is more likely to stabilize at its present market value until something of a news would take place to wake the interest of investors to engage with this industry, again, just like with previous all time highs. Also, what's anticipated right now is the 2024 halving but that would be too long to wait. If there would be other indicator, we may see its market value to climb up and break the $20k barrier afterwards.FUDs will never be gone as long as there are people who believed in it. Also, in this industry wherein there are no certainties, assumptions will surface the web continuously and that simply includes FUDs as part of it. This is why making onself knowledgeable would be always encouraged.

On his last sentence he is asking if he will accumulate. The OP came from Twitter and it looks like he have some good backgrounds at analysing the price because he already laid out some samples there. He came here asking for a second opinion other than relaxing for a while in twitter. I agree on the sample analysis that he laid there.

$16k is indeed solid which is why I don't think we fall beyond that point but I don't also think that we will fall below $17k. So the OP should hurry up now and accumulate more coins before we saw more price increases. There will be pauses and then there will be small decline, which we can use again for accumulation.

I would also like to congratulate the OP for finding this forum as he can get a lot of valuable insights from here on.
As he has a lil bit of an idea what's going on, he can be considered not really a newbie in crypto.
If he does believe in the capability of btc, of what it may contribute to the financial market, he can invest anytime he thinks he can afford to.
As everyone is reminding everyone, just invest what you can afford to lose, don't loan money or any of that sort, because no one can assure where the market is heading to.

The movement of bitcoin seems to be affected by news from the FED so that it inhibits the price of bitcoin from increasing and it seems that there is indeed an intention to hold the price of bitcoin so that it does not rise first because the global situation is still uncertain. But in the future, I'm sure that when the time comes, the price of bitcoin will go up high and nothing can prevent it. And when the bitcoin price starts to increase, it will surely make many people who don't believe in bitcoin be surprised and amazed by the power of bitcoin. But we don't expect the bitcoin price to drop to $15k in the next few weeks.

It did increase though right? from $16k we have move up to $19k although there could be downward pressure in the weekend pulling the price to $18k++. Still this is a very positive outlook at the start of the year.

If you are talking about the future, maybe after the block halving, then definitely the price will increase ten folds as we will officially enter the bull market by that time. So short term, let's see $20k if that is possible or not. We don't need to force it this month though.

I think btc halving will have a big effect on market positively however we are far away from it yet. Surely people will love to accumulate funds now and continue to do dca. We cant be positive yet with all the heavy fud coming to centralized market and until this issue died out we cant move forward without huge doubt from other retailers and even institutions. But I believe it will be just temporary and will go back to the trendy hype like last bull run.

Indeed, trying to determine the bottom of bitcoin only adds to our stress and is a waste of time. Even though bitcoin is trending up and can hit $20k but in price comparison, bitcoin is still down more than 70% from ATH, which can be said to be a bargain price to buy. It is confusing for those who are still waiting for bitcoin to bottom without buying from now on.

I decided to begin accumulating when bitcoin fell below $25k because I thought it was a price that was in line with the target I had set. And I will keep collecting bitcoins until the halving happens.

Bitcoin will recover even if these people will never support crypto. The winter is likely to have an end, that is my opinion. We are moving forward to face the next market cycle which is the bull season. Bitcoin had overcome many market crises in the past and still makes it soaring high. That it keeps my spirit to invest Bitcoin more rather than waiting when the price to rally back.
If that will please you and you think it was comfortable, then make do it. Don't worry about the dip nor think about it every day as it only bothered you to make good decisions.

This forum is as older as Bitcoins. Indeed this forum was founded by the Og Bitcoins and Satoshi himself. Very sad to hear that you found about this forum so late, and were busy in twitter crypto fights. Nevertheless if we come back to the Op, then my friend Bitcoins won’t fall further. And if you now greed for more profits, then I am fearing that you might miss this golden opportunity to buy the Bitcoins at such a low price. So if you are able to buy Bitcoins anywhere below 20k usd, then consider yourself lucky. Don’t waste time and buy as many bitcoins as you can.

FUD is a part of the current crypto market to influence market prices through Fundamentals, some FUDs are deliberately made so that the market is unstable and some people who believe in FUD will panic and take selling actions. when the market price starts to fall, the FUD objective has been achieved and some good news will start to appear to make the market improve again and practice a bull run.

Yeah, that always happens in the market but I guess only temporarily.
I don't think FUD would be bad for anyone expecting bitcoin to be priced low, especially if they want to invest a lot. FUD is bad for price stability because usually the bad effect is panic among traders. But so far people have probably realized that FUD is just part of the market and won't last much longer. Even if people are freaking out a lot with big transactions to exchanges, it can also trigger panic.

With the current bullish momentum that the market is showing, looks more like people have missed the  bottom which is not easy to catch... and btw if they aren't lucky won't see this price again anytime soon unless someone out there liquidates a chunk load of coins now to lower prices briefly before the upward trend resumes.

So i need to start accumulating more heavily? the answer is No, but accumulating slow and steady yes Dollar Cost Averaging is still the best In my opinion like  in my previous post that bitcoin break 20K level but we need to see if the price can maintain that price is so you can all IN(*just kidding)  ;D do DCA till we see the ATH

I do agree that this forum has been one of the peak places for bitcoin discussion for a long time now. I have been here for nearly a decade, and had a few different accounts back in the day but never really took advantage of it, been here non-stop for a long time now.

I have to say I learned so much about bitcoin here because it is not echo-chamber here, if something is bad then it's bad, on twitter if you say something is bad then thousands of bots could gather around to tell you are wrong and fool others, here that's not possible. That's why this place has been the best thing that happened to be ever, this forum is my entire profit reason and that's why I love it so much.

Fingers crossed. I want to believe that but when you are experiencing the worst of economy you will have high doubts about it.
Accumulating is a problem when you don't have money in your savings because most of it will just go to expenses for necessities and bills.
Now, if ever this gets better then maybe there's a chance we could see a swing upwards but I won't expect too much, just as I said there are doubts and I know it's not just me. I am optimistic with Bitcoin growing but I don't see the "now". It grew to $20k as of time of writing but there's this strange feeling it won't be long.

You have every reason to believe that the market has bottomed now, but we should not get carried away by that at the moment, the market could be surprising. As the year 2023 just started, today is barely the second week of the year, and what the market does now should not be a total representation of what it would do for the most part of the week.

What matters is for us to stay connected with our charts and economic realities for proper speculation and view adjustments. What helped BTC to rise this week is the US CPI, and that might have a few more days of impact on it before it starts doing what it wants through the real market sentiment.

Yeah, it is doing very well but I disagree that it shouldn't represent all of 2023. I think it does mean something good, I mean it's obvious that we are going to be different in 2023 than we were in 2022 and by the looks of it we are actually doing quite well enough as well.

This means that we shouldn't be really worried about the current situation at all, we should consider that as normal as it gets and 2023 being great. I am not just hyping the situation up, and yes maybe it could drop back down this week as well, but that doesn't change the fact that we had a great start to the year and shows that people are willing to spend money on it.

If you missed the opportunity to buy during the bottom price then cost averaging is a good strategy, just buy the good coins and don’t ever hold any tokens that is not good, cost averaging should only be done with the top coins so your funds will be more safe. The market is getting better now, the pump is a good sign for us. Just wait for more pump and we will confirm if the bull is already happening or this is just a small pump.

small pump or not, i believe some people are looking at this market positively now because after few months, we have seen btc jumping up to 20k. if good news will come around, it may sustain the 20k level and may possibly go up for more.
this market is usually affected by the news surrounding it, so if we will hear positive news more then likely we will be heading to 30k. the possibility is high so you need to think on how to collect some valuable coins while the market is still like a bargain.

$20,000 is still the price that we have to look right now, to sustain or not. Seems to be that the price is jumping to $21,000 and then it will just go down very quick. And it's obvious that there are sellers at this price to make some profits.

So it's too early to see where the $20,000 market will lead us. I want it to sustain as for me this is a barrier that we should be getting and the support line. It's that recently we have a lot of events that push the price down but this should be the price where we should be at months ago.

$20,000 Level needs to be maintained since this is crucial point we don't wanna see another bull trap again  ;D the only we need at this position is sideaway and make rally base rally and we should easily touch 25K but in my opinion not gonna touch sooner

The level that the price of the bitcoin should maintain is above $18,200, because it's where the major support resides. The price of the bitcoin is on urrently in retracement time, the price may support in around $20,000 but if the price pierce the support then expect that the price will go $18,200. If that happen, it only confirm that we will now see a new market season where we can expect that the bull market can finally come. But it will take time because it needs consolidation for us to have a strong price where it can hold in the support levels.

Yesterday the Bitcoin price had broken through to the $21,200 level even though it only lasted for an instant. But for now it is still constantly at the level of over $ 20,000 which means that the gradual movement this month continues to be very good. So don't worry about the level of support because as long as the number of Bitcoin buyers can continue to grow every day, the price increase will always be very strong, even if not immediately to a bigger level.

Basically, by nature of any market, you should accept that what Bitcoin is doing now should not represent what it would entirely do in 2023. I was even surprised by your certainty tone that has concluded what it would do this year. With years of trading experience, I had seen a market that started a year very badly but dominated with good performance throughout the year.

This year has just started, so I insist that we should not decide for the whole year yet, and with the bad performance of last year, BTC can't be speculated to be bullish so early. Though it is bullish now and I have gained money from it, we should continue speculating daily, weekly and monthly and not be so certain of anything.

With everything that is happening. We are probably at the point where it’s tough to predict because there are a lot of factors all over the world that could affect the current pricing of bitcoin. I think it has always been like this, knowing that those big players that are known, like the big exchanges, Binance, could be detrimental if something were to happen, like with FTX.

If no significant events come, I think we are at the bottom, and it’s good to accumulate more. That’s the optimist in me.

We have seen that bitcoin has broken through the $21k level even though the price is back down at $20k but that's okay because bitcoin will rise again.
We assume that this is a correction received by bitcoin after reaching $ 21k so that later the price can break even higher.
But I'm not sure that the bull market will come this year because the price of bitcoin still has to try to increase its price slowly.
We have to use this time to keep investing in bitcoin and if we still want to wait for a lower price, we have to be prepared for what happens next because we also don't know if the price will go down or if it will go up again.

Meanwhile or not it depends on how strong the FUD itself is, as in the case of FTX which gave rise to a lot of FUD about trust in a centralized exchange and this has been FUD for quite a while although it will gradually disappear. Those who expect low prices will certainly be happy when FUD comes, but continuous FUD will also affect the psychology of traders to continue to hold or sell immediately because the market is not good. Panic ensues when FUD affects those who want prices to continue rising.

Why do we need to worry about the FUD though? That's just one of the constants of a speculation market, along with hype, just in various degrees of domination over each other.

We do seem to be a happy lot when the buzz and moon hype come along, we should be able to accept the FUD that must naturally accompany -- after all, if we're all buyers/holders, who's selling to us?

lucky that I am one of those who did not missed the bottom , had bought last start of December meaning I am at least almost 20% profiting now, looking for at least 30% and consider selling for a while because the Bull i was expecting comes early and there is another dump coming in several weeks or months.

and it is a surprise seeing more than 20k just this month alone considering that we are just starting?

Would be the main thing that would boggle up our mind is that we dont know if this would be the peak or would be the start of the bullish run or market situation of this market? This would really be the main thing that would really hinder you on going all in with your investment because its never been that something predictable. Bottom price? possible but we cant really be still sure since there are some fundamentals
which would really make out some hindrance that the market might be ending up on dumping if that time comes.For now we are eyeing about that Genesis bankruptcy
but it turns out that it hadnt some effect at all.