Prediction: Low was $34K or will be ~$25K

[ancafe]

So, my hopes for a February that did not go down below 40k again didn't materialise. People were talking about 45 and 50 tests, but I'd have been more than happy for a strong and unyielding support at 40k. Only thing is this is the weekend, so the work week should bring more clarity but if we lose more ground, sentiment can shift quickly to pile on the selling pressure.

Going to be a long road, this first quarter, not that it wasn't ever on the cards.

Unfortunately, the price push below $40k is very strong, and now the price has reached the $39k range, and the worst case could be even lower. however, yesterday I saw the price was under $39k, and now it's back. Well, instead of thinking about $45k or even $50k, I agree with you right now. even when you see bitcoin prices reach the $40k range, that's enough. sometimes, Q1 at the beginning of the year crypto prices tend to be pushed down. even holding on and rising slowly at this point is already good.

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[skarais]

Unfortunately, the price push below $40k is very strong, and now the price has reached the $39k range, and the worst case could be even lower. however, yesterday I saw the price was under $39k, and now it's back. Well, instead of thinking about $45k or even $50k, I agree with you right now. even when you see bitcoin prices reach the $40k range, that's enough. sometimes, Q1 at the beginning of the year crypto prices tend to be pushed down. even holding on and rising slowly at this point is already good.

I just believe that the price of bitcoin always fluctuates throughout the year both up and down, at any time as long as demand is lower than supply or vice versa. So far we are in a downward trend since November 2021 and it has been for 3 months although currently the bitcoin price is $39K.

During 2022 I think bitcoin price is likely to go down rather than up although there is always an unexpected potential for bullish and hit a new ATH above $69K. But I can still expect a decline or a correction as long as the demand for bitcoin doesn't increase as we experienced over the last 3 months. So far, the market has been heavily affected by FUD, although it only lasted for a short time. But obviously it could lead people to dump bitcoin and try to buy them back at a lower price. I think it's still possible we'll be in the $20K to $25K price range this year because I'm sure $69K won't break this year.

[buwaytress]

Going to be a long road, this first quarter, not that it wasn't ever on the cards.

Oh, the dreaded weekend again, when we thought that it should be a slow down, the market suddenly turns into a downward spiral and now we are in the $38'ish because obviously the $40k support was not strong enough.

I think it has been projected that the first quarter will be very tough, calls for $50k? probably not going to happen with the current geo-politics around the world that has affecting all the financial markets.

Yeah, that was a smallish bummer for me. Smallish because I was hoping for a round of consolidation, but it seems now we've entered into another phase where we need to attack a significant barrier. I'd have preferred that barrier to be 45k as that seemed more palatable than 40k -- but it's not entirely bad as it still means a bit more stacking at a real value price, if I want to use JPMorgan's "real value" estimate at 38k!

Definitely doesn't look like a 50k attack any time soon.

[kotajikikox]

Unfortunately, the price push below $40k is very strong, and now the price has reached the $39k range, and the worst case could be even lower. however, yesterday I saw the price was under $39k, and now it's back. Well, instead of thinking about $45k or even $50k, I agree with you right now. even when you see bitcoin prices reach the $40k range, that's enough. sometimes, Q1 at the beginning of the year crypto prices tend to be pushed down. even holding on and rising slowly at this point is already good.

lol have you checked the market yesterday? and the day before? bitcoin price drops down already to 38k and you are wrong about that 39k lowest.
also we can see the shallow hold on that level meaning any moment the price may fall down to 37k or even lower.

But still we have hopes in this matter as bitcoin is still in high value compared to what we have before the bullrun last year same season as now .

[Silberman]

I hope what we predict can come true. But despite all that, we also need to prepare ourselves in case the price of bitcoin turns out to fall again and drops to the $40k level because no one knows if it will happen again or not.

But given the current situation, it looks like bitcoin can still hold on, and maybe after this or next week, there are signs that bitcoin will be preparing to go higher. If that happens, you need to have your bitcoins ready for you to sell at your desired price and never be too late to make a profit.

Unfortunately it seems that we are very close to fall below the 40k level again, the price is barely above it and I do not think it is going to resist much as even if the bulls are giving a fierce battle the bears seem to be in control of the situation, I hope this does not happen as this could create once again some FUD among traders and investors and we could see an even bigger decrease in the price than the one that we saw yesterday.

We already did, last time I checked the price is $39,990 so the $40k was not defended in the last 4 hours. But hopefully we can still push above it and bring it back to $40k this weekend. As others said, this is a critical level and we don't want to see the price going down because it will follow by a huge sell-off again. So it will be panic once again and we don't know what price it will settle. Lowest low is $32k-$33k last month so we might be looking at it again.

Unfortunately it has already happened as you state, just a few hours after my post the price dropped below the 40k level and now it is placed at the 37k level, the bears are in complete control of the situation as all the market is red and it is suffering an important drop, now there are several questions that need to be answered, how long will the price of bitcoin remain below the 40k level? And will the 30k level resist or the price will go even lower than that?