[POLL] Will Bitcoin dip below $40K?

[wagmi]

Looks like people were right, Bitcoin dipped below 40k USD for many times and is still below it.

It turned out to be a very bearish market despite announcements from 2 countries to support Bitcoin as official money.
Time to go up for Bitcoin but nobody knows if and when. 

Because Bitcoin is a scarce asset, we should see it go up at some point. 

[Baofeng]

Looks like people were right, Bitcoin dipped below 40k USD for many times and is still below it.

It turned out to be a very bearish market despite announcements from 2 countries to support Bitcoin as official money.
Time to go up for Bitcoin but nobody knows if and when. 

Because Bitcoin is a scarce asset, we should see it go up at some point. 

I guess no one can really stop the bear market, even those good news that you mentioned are not enough as we faltered again below $40k and in the danger of seeing that it can go down even further at $35k at least. Hopefully though it can bounce back to the support level of $38k and slowly gaining back that $40k again.

True is a scarce asset, but very volatile and goes into a cycle (bull and bear).

[ajochems]

The price of bitcoin was below the average price of 40k dollars.Now the price of bitcoin was 38k dollars,since it’s good time to inverse your money in bitcoin.Now the economic crisis make the huge fall in the bitcoin price.And same is the reason for the value bitcoin we are getting at very low price.In a June month the price of bitcoin will cross the value of 42k dollars for sure.

[wagmi]

Looks like people were right, Bitcoin dipped below 40k USD for many times and is still below it.

It turned out to be a very bearish market despite announcements from 2 countries to support Bitcoin as official money.
Time to go up for Bitcoin but nobody knows if and when.  

Because Bitcoin is a scarce asset, we should see it go up at some point.  

I guess no one can really stop the bear market, even those good news that you mentioned are not enough as we faltered again below $40k and in the danger of seeing that it can go down even further at $35k at least.

You were right, Bitcoin is now under 35k USD.

True is a scarce asset, but very volatile and goes into a cycle (bull and bear).

Correct, Bitcoin is very volatile and because Bitcoin is very volatile, we should avoid TRADE. Trade is very high RISK and can result in huge loss.
We should avoid it because trading is line gambling. Price can go up, price can go down. Nobody knows. Trade is huge risk!

For Bitcoin, we should HODL. HODL is very good because of Bitcoin's fundamentals. Bitcoin is a capped asset and really, really scarce, which has caused an increased price over time. We just need to be patience!
HODL is a very good strategy and working very well for Bitcoin.

We should look at Fundamentals of Bitcoin.

[Jating]

The price of bitcoin was below the average price of 40k dollars.Now the price of bitcoin was 38k dollars,since it’s good time to inverse your money in bitcoin.Now the economic crisis make the huge fall in the bitcoin price.And same is the reason for the value bitcoin we are getting at very low price.In a June month the price of bitcoin will cross the value of 42k dollars for sure.

Nah, there will be no attempt to reach $42k next month. Just look at the current price, we are in $33k, and it the downtrend continues to $32k'ish, I think it will really signal that officially the bearish cycle is here to stay.

So what that this mean? Well, for one, we should accept the fact and not to think that we will have a bounce back this year, this might be 2018 all over again, wherein we've seen not just bitcoin but the rest of crypto suffers and experience a downtrend.

[wagmi]

The price of bitcoin was below the average price of 40k dollars.Now the price of bitcoin was 38k dollars,since it’s good time to inverse your money in bitcoin.Now the economic crisis make the huge fall in the bitcoin price.And same is the reason for the value bitcoin we are getting at very low price.In a June month the price of bitcoin will cross the value of 42k dollars for sure.

Nah, there will be no attempt to reach $42k next month. Just look at the current price, we are in $33k, and it the downtrend continues to $32k'ish, I think it will really signal that officially the bearish cycle is here to stay.

Sounds likely we can't reach much higher prices soon. 
Bitcoin crashed hard and we are luky to see a price resistance above 30k and Bitcoin will not crash even more.
It's very difficult times for Bitcoin and it wasn't even caused by Bitcoin!

[OgNasty]

Seems like the market is fighting to keep it's head above water.  The $40K line appears to be holding fairly well.  We even seem to be in a consolidation phase now, which in the past has meant that an upward move is in the cards soon.  I think every day we stay above $40K, the odds of it falling lower are reduced.  At least until the mtgox coins hit the market and/or the ETH 2.0 upgrade unleashes billions of dollars in staked ETH back onto the market.  I find it a little hard to believe those events won't cause a massive reduction in market price of the entire crypto market, but we'll see.  Maybe spot ETFs will be approved in the US around that time to help suck up the excess liquidity.

The scary part isn’t that we went under $40K, the scary part is that the reason why wasn’t because of either upcoming event that I mentioned above. The ETH2 upgrade is going to flood the market with ETH that is highly in the profit (lots will cash out), and the mtgox coins still haven’t been distributed. When they are, we will have double the sales pressure we just saw from the Luna Foundation Guard. Hopefully we have an ETF in place before then or things could get messy. I will still not be surprised if we see a $10K Bitcoin, but I’m hoping we don’t ever fall below the 2017 high because that would be a catastrophic change in the fractal pattern we’ve come to know and love.