Is bitcoin steering towards $40k once again?

[Wysi]

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle. What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

[Poker Player]

Yes. I don't know what it will do next week but I would be very surprised if it doesn't cross the $40k mark in the next 8 weeks at most. Demand is clearly higher than the offer and short-term FUD due to news can't last long, so the price has to tend to go high.

[ChrisPop]

I think 2021 will be the year Bitcoin touches the $100k mark. This is my train of thought: if last year ended with a a bunch of institutions queueing to make fillings for the SEC this year shouldn't be any different. We already see MicroStrategy and Grayscale continue to stack up, while new entrants like Marathon Patent Group getting their feet wet recently with a $150M capital injection.

IMO this is really bullish action and most likely we are now just preparing for another major leap towards $100k. Next major level is $50k which acts as a psychological price point as well.

[aoluain]

Bitcoin is going to cross $40k no problem. There is always bigger resistance or sell pressure
at key price points, $40, $45, $50 etc. This year is a bull market and there will be 10%, 15%
etc. dips on the way to $100k, its normal.

And yes we will hit $100k too this year if we follow the stock to flow chart.

[tabas]

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle.

What is it that there's seems to be the last hope for it to reach the ATH? I just don't think that we need that term "last" as it looks like it is in danger.
In reality, it isn't.

What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

No one can tell what will be the next scene for the next weeks to come. Evaluate that there will be corrections and pumps again.

[Slow death]

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle. What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

the price failed to break the $35,000, and whenever he tries to break the $35,000 he drops a lot to $31,000. for us to see $40,000 needs to break $ 35,000 and $37,000

Bitcoin is going to cross $40k no problem. There is always bigger resistance or sell pressure
at key price points, $40, $45, $50 etc. This year is a bull market and there will be 10%, 15%
etc. dips on the way to $100k, its normal.

And yes we will hit $100k too this year if we follow the stock to flow chart.

100K Is very high, I wonder what the marketcap should be

[Imran232]

I think 2021 is the year when bitcoin will be touch atleast $75k. And breaks all time high price ricords. And bitcoin creat a history to the world and shows the world that how power is this. It can replace anything, it is ready to compete anything and it is able to defeat also. I wish that bitcoin cross atleast $50k so that we can shows our countries government with full of confident that we want bitcoin in our country. Make it legalise. And gives us full freedom to work on this technology in our country. And it is our demand. It is a technology not a weapon that criminal use to crime. Criminal use every technology to crime soo did you guys ban every technology?  No, then why bitcoin. Lets hope for the best.

[Vaskiy]

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle. What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

We can expect price corrections, at the same time there is more chance of recovery. Because, this time the market scenario is very different from the previous bull market. Over the next few weeks there is more chance of bitcoin go close to the previous ath value that's been reached few weeks back. I don't think bitcoin gonna make a new ATH this year. There is more chance of incoming growth to take place with ethereum over the falling weeks.

[Lanatsa]

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle. What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

When we do talk about;

•Corrections
•Breaking ATH's
•Buy time/Sell time points

Then these are things which we really don't know, if we do then we are all rich as of this moment yet
we do know on where those prices will go.It all matters with the demand when we do talk about 40k.
Yes, its short lived but we aren't really too far of for us to reach or break that point.

[Wysi]

I think 2021 will be the year Bitcoin touches the $100k mark. This is my train of thought: if last year ended with a a bunch of institutions queueing to make fillings for the SEC this year shouldn't be any different. We already see MicroStrategy and Grayscale continue to stack up, while new entrants like Marathon Patent Group getting their feet wet recently with a $150M capital injection.

IMO this is really bullish action and most likely we are now just preparing for another major leap towards $100k. Next major level is $50k which acts as a psychological price point as well.

Yes it would be bullish once due to institutional investments and this bull run is much more different than the one we had in 2017 as this Bullrun is limited to bitcoin and few altcoins like Ethereum unlike 2017 wherein almost every altcoin went bonkers. As you mentioned once Bitcoin touches $50k it would be flooded with much more investments from mid level users as well since it acts as a psychological figure. But any idea what would be the long term plans in these institutions who are investing massively into bitcoin?

[Dave1]

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle. What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

Not yet, we still have CME Bitcoin Futures set to expire on January 29,2021.

https://www.barchart.com/futures/quotes/BTF21/overview

So up to that point, we see the price fluctuating, a good gauge will be the start of February, maybe we can see some break out, that will push the price to $40K again. But I agree that the price went to $35k very quick today, but it was not sustained.

[Pomogator]

Yes, I think bitcoin will overcome its former ATN. It will just be a matter of time. If we adhere to the theory of cyclicality of bitcoin, then now bitcoin should not go down for a long time, but soon it will overcome the old ATN. Of course, you can paint a lot, guess about the bitcoin rate, but time will tell. I think that the previous ATH will be overcome after a 2 month break.

[ReiMomo]

I couldn't tell what exactly happens to the bitcoin price by next week or next month, but I assume that bitcoin price will never fall down touch much as a heavy correction as other expected right after the new ATH will hitted. They think that this will happen like 2017 the last bull run, after having a huge price increase the correction was too much and almost hit the ground, but for now, it didn't happen.

Possible bitcoin will grow more than $40k, but we can't tell when it is. Let's wait and see what will happen. For me, I'm very positive that the price will keep grow.

[serjent05]

I think 2021 will be the year Bitcoin touches the $100k mark. This is my train of thought: if last year ended with a a bunch of institutions queueing to make fillings for the SEC this year shouldn't be any different. We already see MicroStrategy and Grayscale continue to stack up, while new entrants like Marathon Patent Group getting their feet wet recently with a $150M capital injection.
IMO this is really bullish action and most likely we are now just preparing for another major leap towards $100k. Next major level is $50k which acts as a psychological price point as well.

I would love to see Bitcoin touching the $100k mark but I think the Bitcoin market isn't ready for this yet even though we are currently entering the peak of the Bitcoin 4-Year Cycle. With that, I strongly believe that Bitcoin will steer towards way past the $40k and possibly break the $50k barrier this year.

[Twinkledoe]

I couldn't tell what exactly happens to the bitcoin price by next week or next month, but I assume that bitcoin price will never fall down touch much as a heavy correction as other expected right after the new ATH will hitted. They think that this will happen like 2017 the last bull run, after having a huge price increase the correction was too much and almost hit the ground, but for now, it didn't happen.

Possible bitcoin will grow more than $40k, but we can't tell when it is. Let's wait and see what will happen. For me, I'm very positive that the price will keep grow.

The correction was not too much because a lot of institutions are into bitcoin right now. Some even bought their huge stash above $30k. The holders right now is different from 2017. More and more companies are trusting bitcoin to be in their investments portfolio. We have a strong support in the 30k level. So aiming for 40k is really not so difficult here. Who knows, we will achieve that again by next month? Movement in crypto is so fast, you can't even catch up.

[dimonstration]

Is bitcoin steering towards $40k once again?

Considering the price differences for the past weeks now, I have strong doubt we are gonna see Bitcoin hitting $40k anytime soon. Looking at the price patterns, Bitcoin will continue to have a market value between the range of $25k and $38k.  But there is some kind of chance we might see Bitcoin hitting above $40k within the third quarter of 2021.

It's quite hard to determine how fast or slow BTC will move towards $40k again since we don't have control on any activities some bugs companies might do. We didn't expect the recent ATH to happen that fast, so anything is possible in crypto. All we can do is to be updated and watch the market especially if we know we have BTC in us and plans to sell it, but if we're into long term and set our mind not to sell it yet at all cost then we can free ourselves from worries.

[fishbonez11]

Is bitcoin steering towards $40k once again?

Considering the price differences for the past weeks now, I have strong doubt we are gonna see Bitcoin hitting $40k anytime soon. Looking at the price patterns, Bitcoin will continue to have a market value between the range of $25k and $38k.  But there is some kind of chance we might see Bitcoin hitting above $40k within the third quarter of 2021.

It's quite hard to determine how fast or slow BTC will move towards $40k again since we don't have control on any activities some bugs companies might do. We didn't expect the recent ATH to happen that fast, so anything is possible in crypto. All we can do is to be updated and watch the market especially if we know we have BTC in us and plans to sell it, but if we're into long term and set our mind not to sell it yet at all cost then we can free ourselves from worries.

We can only see it again happen when the whales decide so. They manipulate the price to create a hype to the investors. Eventually we will be seeing a higher price than 40000$, its time to buy more coin. Knowing how big the companies have invested on it, they wont risk their fund and just let the price dip.

[TravelMug]

We are still in the period of consolidation, although there was a brief moment that the price spike up and perhaps this is what the OP have seen, but in the last 8 hours or so the price seems to dip again, currently at $32,500. Still not bad a price for bitcoin at the end of January.

Overall, there are still strong supports around the $30k line, although it rejected $35k right away, we are still bullish. We need first to re-test $35k this week before we can see a upward swing to $40k again.

[Fakhrulenclix]

Today when the value of Bitcoin was surging it almost felt like Bitcoin is going to cross $40k or the previous ATH but again it was short-lived but there was no massive dump which is our last hope that Bitcoin will reach new ATH during this bull cycle. What do you think about Bitcoin's chart for next 4 to 8 weeks? Will it there be further corrections or else it will break the previous ATH? We will strike out the possibility of any stability.

Every coin needs to rest before it pumped, that also applies to bitcoin. Bitcoin needs to be rest, it can't always fly. So this normal if Bitcoin can't to reach it. Just trust it that sooner or later bitcoin will make a new ATH. That's why the holders are the real winner. They can patient with every situation and they will feel the results

[Astvile]

Bitcoin still having a hard time passing through the $35k mark and from what I see is bitcoin is still in the consolidation phase after the big price dump from last week I think as long as bitcoin holds to the $30k mark we should be fine and should be seeing bitcoin reaching $40k again in a few weeks. Bitcoin support is still strong maybe the bulls haven't hit the final target yet.