Bitcoin Forum

Right now, it is looking very bearish for our coins because recently, we had a big loss. Bitcoin and Ethereum almost dropped 10%.
But Bitcoin and Ethereum are still up from previous gains.
It is very difficult if we will have new bull market or new bear market ahead.

What is your personal expectation?

There will be for sure a new bull market in the coming months, but we can not also over look the fact that we are already on the bearish season, Bitcoin price is already down by more than 10% over the past days, and same with ETH but ETH seems to be recovering by 5%+ from what it have previously dump with after the recent news of it getting approved by the SEC on Bitcoin ETF. It is just a matter of time for the crypto market to recover again, maybe before the end of September we might see a green market again, as of the month of August I don't see any great price upward movement coming soon.

Bitcoin was pushing another coin to be dumped. Please look at this
https://www.investing.com/news/cryptocurrency-news/spacex-sold-373m-worth-of-bitcoin-acquired-in-20212022-report-3156924

Bitcoin needs a lot of volume to push it back again to the 29k -30k. One of the companies that holds a lot of btc was just liquidating its crypto. Im not even sure what's gonna be the future of bitcoin. I can consider spacex leaves crypto is bad signal.
We must be patience until market turns to be bullish again soon.

The price of bitcoin and ethereum are still very strong at this moment but it seems like that it's lack of buying volume. This is not bad but i hope there will be more volume to come for bitcoin. It may stuck in the same place this time.

Slowly but surely crypto will be going up again in the future. The market being shaken by the dump from one of big company in the world. I would not be surprised to see that everything turn into the red due to the bitcoin dump.

Relax mate. We are in the midst of month of August and this is the time where mostly believe of ghost month where everything went down. Obviously sensitive traders and people who are into this belief are probably converted into stable for a while and waiting for this to end and surely will buy back once the market regain again. I dont know but its normal when this month arrived. Btc and eth chart are both fine and we just need more volume to compensate those -10%

I'm always relax, Sir.

Yes, we need more people for buy. If everyone (or most people) who own Bitcoin now, do not sell it, while many new people buy it, it will result in a big market demand and it's a very good base to start an extended bull market on.

Basically, we repeated the pattern we've seen already in March to June (when Bitcoin fell slowly from 30K to 25K). The difference is that the Bitcoin Dominance in this sub-cycle is substantially higher (https://www.tradingview.com/symbols/BTC.D/), this means altcoins are in a bear market since March already.

I believe there are however some signs to be optimistic:

- BitVol (implied volatility)/EthVol. Even if very recent volatility is growing again, these indicators are still very low (https://t3index.com/indexes/bit-vol/). Low BitVol and EthVol values always preceded bull runs in the past (at least since 2019). But sometimes there were short dumps before the bullish turn, so we could be in such a situation again.
- Possible double Bitcoin bottom at 25K. This could stabilize the whole market again.
- Possibly, a volume uptrend after August with positive outcome for BTC and altcoins.

I think the bear will be dominant in the next couple of months. After that, the BTC price will start to increase and the bull will probably take control. In 2024 we might see a new ATH.

That's very early for growth. And bitcoin's peak usually comes after six months of halving. I don't expect growth any time soon. Maybe in the winter, if economic conditions are favourable.

Upon seeing this comment I just realized that we are in a ghost month. It's a Chinese belief but knowing how big its economy is and its worldwide contribution then I won't be surprised if many non-Chinese are also practicing the same beliefs when it comes to the open market. There were years also in the past when I used to sell nearly all of my holdings in favor of USDT and then buy I'll just buy again later. Lately, I am starting from scratch so my holding is not big and it's probably the same reason why I am not very sensitive and forgot the ghost month. Anyways, at least I am able to accumulate more altcoins and bitcoin this time.

10% drops in price are nothing, most of us here more than 5 minutes have seen multiple 50% plus dumps over the years. Use dumps as an opportunity to sweep up cheap coins/tokens. Most people panic sell but the smart guys amongst us buy the fear. A bull market will come, don’t worry.

Yes with that scenario Im sure even non Chinese would eb caution. But if you are a holder, then nothing to worry cause everyone knows after the ghost month it will be the real market movement. This drop is now occuring due to that reason but as September approaches that will be the start of a new market trend.

If you got more stables then you could add many altcoin in this bargain sale.

Despite the price decline of Bitcoin and major altcoins, I was not worried yet nor I should have to. I was aware of the possible drop and I guess we all know about it because we are here in a volatile market. And to say that 2023 is in the recovering year for crypto and even during the time of the bull season, price corrections are still present. It is not wondering why the situation goes like this as FUDs certainly have a huge impact on the market trend. But this is not the reason to think and assumes that we are turning back bearish again, I was still optimistic for the upcoming days.

I prefer not to predict anything in the short term. Pumps and dumps are temporary. But I don't think we're gonna see a bull market too soon. I just wonder if crypto will stay for a moment or will go down even more.

If you browse the price chart of Bitcoin during April to June this year. Bitcoin price slide from 30k to 25k on same manner but it recover slowly after that. There's a bad news that time about inflation or something but the price recovered after a few days of 25K support hold the dip.

I expect price recovery soon because there's no real bad news in crypto space unlike previous heavy that is really backed by bearish news.

I won't have to panic about such slight drop as 10% on bitcoin or etheruem. Bitcoin move from around $29k to $26k is not much to fuss about. In fact some whales are still keeping their cups open to make a DCA on further drop because the larger aim is next year's halving and not really what is happening now. The bull run for next year is predicted to be massive and speculated to jump into 6 digits, that is going to be massive

I don't like making predictions. I neither believe in nor know how to make them. I think all predictions are designed to influence users to do what the market maker wants. The market will grow, but not right now, especially since several countries are currently facing economic hardship.

The current situation in the market has left us feeling frustrated as it has declined. I think many of us are hoping for an upward trend, but we all understand that the cryptocurrency market is known for its unexpected fluctuations. It's important for us to be prepared for such unpredictable shifts. However, at the moment, the market conditions are not favorable, and the fear factor has also increased. The total trading volume of the crypto market itself conveys a lot of information. Therefore, it's hard to make any definitive statements right now. We'll have to wait and see what the market's next move will be – whether it will break below the support level or break through the resistance.

We all understand the volatility of this market, anyway if we look back a bit we've had a pretty exciting time around the beginning of 2023, I think there will be a decrease and a correction around the mark $20000 or even deeper. However, in terms of long term and looking for profit opportunities, I think people in this market need a capital management strategy to maintain their investment in a long term way, a familiar fact here nothing goes up forever, nothing goes down forever .

My expectations are that the market either will be a bit steady or will go down even more. I wouldn't mind any of those options, grabbing cheap coins is always great.

Things like this happen, and we have no control over their decision to dump their shares, still based on the article
I'm surprised about what happened we all gearing up for a bull run because of the coming halving but if there are dumpers there are takers also so I expect massive buys in the coming weeks.
This is a good entry point for those who want to accumulate for the coming halving I'm trying to accumulate as much as possible because anytime we will soon see the price moving up again.

I still hope to see another bull run in next year or 2025.
Even though it is still speculation, it is still hope for many people so that they can get big profits again.
But for this year it looks like we still have to see changes in the prices of bitcoin and altcoins and we have to be patient and stay calm.
And right now, we are still in a bear market and we shouldn't panic when a decline will still occur later.

Not difficult to have a new bull market. That's what we're waiting for and it's gonna be the savior of this market as of the moment. But to expect it come, it won't come on an instant and see to it that it's likely to come maybe by next year or so. That's why I don't see any reason for us to think if it's a bull or bear market, it's difficult. No, we just have to be used to it and do your own thing whenever you have to. If the market is not good for you as it's bearish, still think positive because you'll have to see how good the market after this dump. And if you have done the exact thing that you have to while we're experiencing this like buying when the price of Bitcoin is low. In fairness with ETH, it didn't plummet that much despite Bitcoin's dump.

This is expected to happen because we still not entering the bull run season yet and we will probably witness more decline in the price of bitcoins and the top altcoins as well. This is where your patience is tested and when you are investing in altcoins I'm sure you already know the risk of not getting back your capital if something goes wrong because altcoins are not bitcoins and sometimes when bitcoins recover their price, some altcoins remain its price at All time low since sometimes their developers abandon the project when they faced such difficulties.

No trader or investor will give you 100% certainty of bull market or bear market. Because bull markets are not monotonous and billion and million investors can spin a wheel. Last year many people said that bull market could come very soon, but it remains only a story because the thought scale has not happened yet. A hype of bitcoin we may get early even results in bull from altcoins. You invest and make profit but hold for bull market if there is excess money.

We are in a dip correction cycle that can neither be called a bull market or a bear market since the price of Bitcoin which is the major market determinant has shaded off some good percentage of its price which forced other coins to follow the same market pattern so waiting for the next market approach,  which could be in whichever ways this can possibly be one of the tough time for cryptocurrency investors who don't have the long term approach to their coins holdings and are only speculators for the short term market.

There will be a bull market in the coming days, as recently we have seen some positive feedback about the bitcoin, and we had hear a of positive news about the bitcoin, that its price will pump. And will road to $35k but we can only assume that it might be better.

At the moment, there is no sign of any bullishness to hit the market, and the worst part is that people are just getting to know about what's going on with the markets as our crypto news outlets echo what's this and instilling some kind of fear to get the buying back on track...tbh we could get close to 25,000 before the bulls come in.

So short term, we are bearish and long term we are definitely bullish as whales scramble for the cheap coins on offer!

We're in recovery stage, it just a short dump and then Bitcoin will bounce back to $30K. Don't put a big hope if the bull run will happen soon, the bull run might high likely happen in 2025 which mean this and next year are still the good time to buy.

Why 2025? because Bitcoin bull run happen after a year of halving event.

SEC is also not stopping so don't expect too much right now. While they are attacking a lot of cryptocurrencies like Binance and XRP, there will always be doubts in many investors' minds. So demand might not that be high but it is showing a good opportunity as an entry point for new buyers. This is a good chance to accumulate some Bitcoin while it's getting cheaper.
The bull, on the other hand, might be a slow and steady fight. Bitcoin ETF. Do check the news about that because it might be the spark that will make a wave of demand as time flies by and then most altcoins will be dragged by the upward motion of Bitcoin. Blackrock and Fidelity had made their moves and very soon many investment firms will be opening that fund.

Bull then bear and then bull again - that's how market cycles work. The thing is nobody knows when a new cycle begins and how long the current one will last. Most successful people possess two qualities: they are patient and they know how to diversify their portfolios. These two things are easier said than done, however.

Normally it should be bear when you accumulate then sell it if bull market happens, but its hard to determine if we are in bear or bullish situation since there are times that we think that this is the final dip but turns out there will be more to come and we get trap with it.
 Also there are scenarios that we expect the bull run came but it stabilize on certain price level so for this situation we need to be more updated on any situation so that we can do some good decision if the market is not going on the direction where we like to go.

Now, the situation is uncertain but for me, I don't see it going to again, no more $20k at this time as we are done already with it.
Till now, we don't have any assurance for the price to recover shortly but I know we are going that moment, yet it will take time to arrive.

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What we gonna do for now is to keep calm and strong. I do not often check the market price because I don't want to think negatively about the current situation, so adjust and wait. As long as I'd never sell my Bitcoin, I'd never lose any.

Like great societies, cryptocurrencies are based on trust. The current declines in Bitcoin and Ethereum are only a little blip in the big tale when trust weakens. Are you worried about a 10% drop? These are minor, short-term events.

How should you proceed? Wise folks HODL. Yes, hold on tight. But dont wait. Travel, learn, and change. The crypto industry changes quickly, so be patient and stay current. Think a "bear market" is coming? Maybe, but the ready, who learn and evolve constantly, will ride the next wave wherever it goes.

To address your query about my personal anticipation, look at the big picture instead than short-term confirmation. People who are patient, persistent, and accepting of turmoil make digital asset history. HODL, learn, and prepare. Dawn comes before a storm. The night before dawn is always darkest.

SpaceX dumped Bitcoin recently so the drop isn't anything unexpected, I reckon we'd have stabilized at the 25, 26k range right now and would once again go on sideways for a few weeks before another move (hopefully up back again). On the bullrun, I'm expecting it to happen a year to a year and a half from now, so still pretty far. I'm at that phase where I'm still steadily accumulating, so the dips every now and then are pretty much good favors for me since I can buy more coins in a low price (since I DCA).

This is a sideways market. Bitcoin has been moving between 20k to 30K for over a year now. Anything below 25K should be utilized as buy points.
After a bear and sideways movement around the low, it's no brainer to predict an upcoming bull. But no one is sure enough when would it arrive and whether we would get many other opportunities to buy bitcoin. A prediction is once we hit 41200 on bitcoin, we would move into a bull run. Till than it's wise to keep investing a part of your savings into crypto.

True, the movement of BTC so far can only be predicted. So, when it comes to rising or falling prices, it's always a surprise. Yes. what you just said is true, as a user and what is certain at this time is to continue to buy as long as the market is in conditions like this according to our respective abilities and prepare for all eventualities. if flying would be more fun.

I totally agree with you, indeed this market is highly volatile, and most of our mistakes are lack of knowledge in the beginning and then lose patience and miss possible opportunities earn a profit.

Honestly, compared to the ATH it reached and the longer-term view, I believe bitcoin can one day also surpass the ATH or even speculate that $100000, so trust the research and the standard. Being prepared for things to happen even in a long-term downward price situation is an opportunity for us to accumulate knowledge and wealth.

Are you sure about your comment? So far, the news has only speculated about bitcoin crash few days ago conducted by SpaceX. Until there's financial reporting released by SpaceX, we will never know the reality. This might just be an issue created by the media to induce panic selling. However, if you have evidence that yesterday's situation was caused by SpaceX, i will believe it. If not, just wants to remind you, not too believe in media about crypto price, because they are very often spreading a FUD.

Yes, and so we are not sure why everyone is talking about Elon Musk or his SpaceX as the reason of the current dump. In any case, we are still in the bear market technically, and so that will remain for now.

If we are talking about a bull market then it should start right after the bitcoin block halving. So don't be surprised if we see the price continue to decline throughout the year, we are still in the bear market so we need to understand that and hopefully we shouldn't be listening to these FUD are Elon Musk and his supposedly selling out huge amount of bitcoin because this news is like a broken record already.

That is true, we can't really call it bear or bull, we can certainly not call it bull looking at the price, but we can definitely not call it bear neither even though it's down. Too many people call it going to be wrong because the reason they call it is because they see it go down but not all the price drops could not be considered bear market, that one is something that takes some time and I think we should be more careful about it for sure.

I get that it's not understandable to have it change anytime now, but it should not be simple neither. I get that it will be tough, but it should be ok to have it and we could be calling it just regular stuff without a trouble and we could make it work the way we want it to be.

Yep, lack of knowledge is a big cause of mistakes, and it's like a vicious cycle with experience, as well as the fact that I have some friends who have been exposed to this market quite early but they are still stuck of profit seeking, is influenced by the psychology of investment behavior during the market volatility, which is easy to FOMO according to the released news. And of course the truth is that I am also very optimistic about the future when the market will become bigger, and that journey will also have to go through difficult times for people to gradually accept this market.

While I dont entirely agree with your prediction of a constant decline for the rest of the year, I certainly dont see a bull market happening anytime soon. Just as you said, I think the next bull market will happen right after the bitcoin halving. Perhaps a little more of institutional involvement in crypto would be very helpful too.

There is a big difference when saying it is looking bearish and being in a bearing situation. But then, I couldn't agree to any of the two because the current situation is far from the state of being bearish. In fact, you can compare the current price today versus the price last year and for sure, you can see something big different from it, and that is a bear season. But what it is happening these days is just a normal event in the market, it dumps hard and it recovers back as well. We can never see the price trend keep on high but instead, you can always see price corrections.

We are not in the bear market right now because you can't just judge the market based on that single criterion of its losing value while people are still believing in it. When the market is in the bear run, the prices would not let you take any profit or sell your assets before they match the highlights. Also, you can't call it a bull run when the price goes up just a little bit and then stops right there because the prices keep going up during a bull run.

The market will obviously need to see a lot of changes in the prices of certain cryptocurrencies during this year since the halving event is expected to occur next year and the community is expecting something like the bull run to occur after the halving and not months before it arrives.

One of the difficult things in the cryptocurrency world is that to say what is going to happening in the future. So I want to say first of all that no one can say with 100% sure how the crypto market situation is going to be in the future. But in my opinion, since bitcoin halving is coming and if you look at the past history, the effect of bull run has been seen in the market every time after halving. So I would say that a bull run could come next after Halving. But before the halving, of course I would say A can be got some bear

Why did he say that currently it is still in the decline phase? Because, so far, BTC is below 50% from latest ATH. Even though BTC and some Altcoins are starting to show recovery, we are still in a bearish phase on a trend basis. So, maybe until the end of this year, BTC still can't reach the minimum price of 40K, to see the bullish potential. Halving is a pattern that often occurs when bullish comes, but this is still limited to predictions and market speculation based on history. Will it be the same as previous years? Nothing is certain yet, because it depends on market sentiment.

I definitely expect a new bull market. Bitcoin is unable to cross the $30K resistance. I expect the market to be gradually bullish from the end of this year. Almost every bitcoin halving comes with a bull run in the market. I expect that this time too.

What about this year mate? You don't like? But don't worry because I am sure a bull run is guaranteed next year and on 2025 as so many people are claiming the same thing. Hoping for it alone is useless. We need to make sure first that we are now ready and while waiting we can additionally buy, if we truly wanted to earn huge income.

If it's only about changes, it does happen from time to time. Some times the change is small that is hardly seen but lately the change is a major one (only in the negative direction though) but it must be a good thing for some who want to stock up more coins again or to those who just getting started.