When the price of bitcoin falls as it is today, I still buy with prudence and then hold it for a long time and wait for the bitcoin price to rise before selling it. I am optimistic that after the bitcoin price correction as is currently happening, the bitcoin price will definitely rise again significantly. even I predict if the price of bitcoin will be bullish again early next year.
The best step we can do right now is to hold the bitcoins that we have and if we have a there still is funds, of course now is our opportunity to buy and increase the number of bitcoins we have, the price decline that is happening right now is quite bad, but here it is we need patience in holding bitcoin, I don't think we need to panic right now because bitcoin strong fundamentals will certainly be able to trigger price increases in the future. Of course when the condition of bitcoin which experienced a very deep price decline from its ATH, forced us to stay afloat. I'm sure the bull run phase is back now and people who are patient in holding bitcoin for now will achieve maximum profits in the future. |
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Everyone was blaming September for the dip like it was a dip holiday and just waiting for October for the pump. And as soon as October came - and I mean literally, like the first day of October - prices started to go up and it started to pump. How??
I think the big pump factor in the bitcoin price last October was due to the high public trust in bitcoin fundamentals and also the increasing number of large companies adopting bitcoin. Although in September the decline in bitcoin prices occurred due to the Evergrande case and the ban on China, but it did not have a serious impact on Bitcoin where we saw in November bitcoin set a record ATH. |
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I think we've been in a bearish phase for almost the last month where the bitcoin price had dropped to around $33k a week ago.
Why don't you think it is a correction only? I saw some people saying that it is a correction only, the price of Bitcoin will increase again in the next month. To be honest, I am not sure what phase we are experiencing right now whether it is a bearish phase or still in the bullish phase. Bitcoin price sometimes drops very significantly but it looks like to increase again. Can you explain more why you think it is the phase of bearish? Do you conclude it based on learning the price chart history? The way I see bitcoin's bearish phase is by looking at the price trend being down a few months ago to 20% of the ATH level where the bitcoin price had dropped to a low of $30k earlier this year. During bear market conditions, traders and investors are not confident about crypto prices, which tend to decline greatly within a certain time frame, resulting in a massive sell-off. |
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Indeed bitcoin has experienced a very sharp decline in price in the last few months. But despite the bearish conditions across the crypto market at the moment, I believe that the bull market is not over yet. Currently, bitcoin and other crypto-assets are struggling to bounce off their current lows. Therefore, there is a possibility for an increase again before another correction occurs.
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I think, the weakening of bitcoin prices lately because investors and traders consider that global market sentiment still tends to be negative. Although market conditions have not been positive in the short term, I have the view that the bitcoin bullish phase will occur in the middle of this year and the bitcoin price will rise much higher than the current price.
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In my opinion, the reason for the recent drop in bitcoin prices is due to the outbreak of the Omicron type of Covid-19 variant and also the Fed has started to tapering so that investors have started releasing their assets. In addition, the decline in the price of bitcoin was also caused by a massive sell-off of traders.
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I think anything can happen in the crypto world, but it is difficult to predict with certainty the price of bitcoin in the future. If you look at the positive performance in 2021, you can convince the public that bitcoin's performance will be more mature until the end of the year. However, as we all know that the price of bitcoin is influenced by many factors so that in early 2022 the price of bitcoin has decreased to the level of $38k.
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In my opinion, in February to March there may be so much fear because there is the potential for a rate hike by the Fed to be one of the factors behind the recent decline in bitcoin prices. The current price decline will continue considering that the new Fed's tapering will occur in March. Moreover, the current lack of positive sentiment in the crypto market has also had an impact on the bearish trend.
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This phase of the bitcoin price correction in the past month has fueled concerns that the bitcoin price spike may be running out of momentum. However, if we look at the bitcoin price momentum last year, Bitcoin price has more than quadrupled throughout 2021. Therefore, I think that bitcoin will mature more going forward as more institutional investors adopt bitcoin.
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When the Bitcoin price drops below $50k as it has in the last few days, it is always a question whether the bitcoin price will go back above $60k to finally set a new ATH record in Q1 2022 or even further decline. Therefore, it is difficult to predict the price too far in Q1 2022 because the bearish pressure is still quite strong and there has been no confirmation of a strong bullish trend so far.
there is no confirmation of the bullish trend and no confirmation that the bearish trend will continue, in other words, for now the price of bitcoin has not entered any phase. although currently there is a price decline to $47k but that does not mean bitcoin has entered a bearish phase because it is very possible in the next few days the price will pump again and the bitcoin price will return above $50k. if I notice in the last 1 month the price of bitcoin has stabilized between $45k-$50k, and this situation makes it difficult for most people to predict the price of bitcoin in Q1 2022. I think we've been in a bearish phase for almost the last month where the bitcoin price had dropped to around $33k a week ago. Although currently it had gone up for a while, but it did not last long the price of bitcoin immediately experienced a correction again. Therefore, the decline in the price of bitcoin is still not over and I still believe that Bitcoin will fall to the point of $30k. |
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I think for long-term investors the exit strategy is not a wise choice when the bitcoin price correction is taking place as it is today. If you believe in bitcoin fundamentals over the long term, a bitcoin correction as it is today is normal and healthy. Instead of complaining that the bitcoin price correction is very deep, you can actually use it to buy at a low price.
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Although throughout January this year the price of bitcoin experienced a very deep price decline, I'm not sure if the bitcoin price was lowest at $27,987. I see February as a bullish month for bitcoin. Moreover, the current bitcoin is slowly starting to show a price increase.
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I think it's very likely that bitcoin price will hit $100k at least mid this year. If we remember November of last year, it seemed like only a matter of time the Bitcoin price would hit $100k. Right now I see bitcoin price movements slowly starting to rise. Therefore, the $100k price level seems to be within reach, which means we are closer to the top this year.
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In my opinion, technically the price of bitcoin is currently at the support level of $38k, therefore I think this is a good moment to buy because a bull market is imminent. If the current price increase continues, there is a possibility to go to the next support level where the bitcoin price will reach $50k.
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If I look at your metrics and indicators chart, it looks like the correction phase in bitcoin has almost reached the end of the correction. the bitcoin price has the potential to head towards $100k this year. However, for now, it's better not to open a position first because the price of bitcoin is still worrying, but if you want to open a position, keep money management to minimize risk.
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The price of bitcoin is still experiencing a decline in price, which makes the movement erratic. From the price drop, it can be concluded that Bitcoin still doesn't have full control over the bull rally. Therefore it is possible that the price of bitcoin has the potential to drop to the $30k level but not to the $25k level.
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Be aware that we will face some inevitable losses and everything that happens is normal, usually after a sharp rise and the market starts experiencing a correction or decline due to a sell-off by a weak hand.
and volatile market situations such as this rollercoaster often make many investors or traders feel anxious and panic about investing, and tend to make transactions based on emotion.
and negative news can also affect panic and it all depends on our intelligence in assessing the market situation and the latest news to do the analysis properly and accurately.
It will be difficult for us to sit still and wait when the bear market is happening. But if we manage to refrain from the panic-triggered sell-off, we can pass the period calmly. Indeed sticking with bitcoin during bearish situations requires a high level of vigilance. So, avoid panic and always be alert. |
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I think the current pattern is not the same in the previous market recovery. If we refer to the current consolidation of the bitcoin price, we can see that the volume was higher, but the price did not reach a new high. this is a sign that volume and price are not showing the same sentiment, then there is a possible reversal of price momentum. Therefore, let's see where the bitcoin price will move in the future.
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Everyone certainly has a different way of analyzing or predicting Bitcoin prices in the short and long term. However, no one can predict the bitcoin price accurately. Especially in the midst of the current market situation where the price of bitcoin is still experiencing a decline in price.
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I think the bitcoin market is already showing signs of a bearish trend. The decline in the price of bitcoin in recent weeks has formed a negative signal pointing to a bearish trend. The big correction in the price of bitcoin is still continuing. Therefore, if it doesn't rise back to the psychological level of $50k soon, then it is very likely that the price of Bitcoin will fall to its lowest level of $40k.
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