The trend of prices is still upward, any hope for downward?

[Mondiba]

COVID 19 enriched majorities while the minorities suffer.
The current increament in the cost of commodities in the market is alarming bad yet the majorities who are representative of the minorities (politicians) seem to pay less concerned.
This increament before now was tag to be as a result of Covid 19 which interrupted importation and exportation of good and services.
It is expected that with the decrease in the Covid 19 spread I thought their will be a corresponding decrease in prices of price the reverse is the case.
My question remains is their any hope for price decrement.

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[jackg]

I abandoned most of my long at about 33500. I imagine we could be due a drop but I don't know how far, perhaps to 29k or something (we could reach 42 before then though too). I want something a little more sustained around the 30k level - if we don't get that and go up we're still pretty bullish imo but it'd be nicer to get an extra confirmation.

The current pattern on the daily kinda matches the last one too so there's a chance we go to $15k, extremely slim though and probably quite unlikely (you'd be better off selling at 20k if it did)...

[Leviathan.007]

The current pattern on the daily kinda matches the last one too so there's a chance we go to $15k, extremely slim though and probably quite unlikely (you'd be better off selling at 20k if it did)...

Dude if I see bitcoin price at 15K price level I would sell even my underwear to buy more bitcoins.
In my idea, even if we see prices such as 15K, there will be a show touching the price level for less than a second because many people are waiting for lower prices to increase their bitcoin amount.

[BrewMaster]

The current pattern on the daily kinda matches the last one too so there's a chance we go to $15k, extremely slim though and probably quite unlikely (you'd be better off selling at 20k if it did)...

this is a very strange statement that surprised me after seeing an old user making it.
if anything the recent pattern solidified the next rise. if price were capable of such a huge fall yesterday when they were dumping it hard should have gone lower than $29k or at least lasted there for longer than an hour or so!

but when price jumped back up like a yo yo it indicated that price doesn't want to fall and $30k remains a very strong support.

to OP always remember that they are printing a TON of money specially during COVID time. there is no way to see any price decrease anywhere, in bitcoin, stocks, groceries, rent, utilities,... all are going up.

[tyz]

I think much depends of how far China is trying to go to purge the mining industry. If the Chinese government ist really serious, and not like in 2018 when they took unsuccessful action against Bitcoin, then the price could fall significantly further to 26k or even 22k. If they are serious, the mining will shift, as can already be seen in some cases, e.g. towards Kazakhstan, which at the same time also brings uncertainty that in turn is not good for stabilizing the price.

[YOSHIE]

COVID 19 enriched majorities while the minorities suffer.

Has become an open secret, only the majority don't care about it, let them do as they please, only the majority who are sound minded know.

My question remains is their any hope for price decrement.

Back to myself, if you judge about the news so far, you will be devastated and frustrated, not thinking about falling prices, on the contrary, disappointed and nervous.
However for me sticking to my point of view the $20k will probably happen again, only time will tell.

[skarais]

Bitcoin is a very volatile asset and everyone knows about it. Basically, price can go up and can also go down at any time even for no apparent reason. There's nothing wrong with expecting a decline, but you also have to believe that bitcoin is also capable of going higher than it is now. Remember, if the reference is ATH, now bitcoin is down almost 50% at the moment. However, if your reference is the price in May 2020 then we are still in a bullish trend. The nearly 50% drop in bitcoin price since ATH $65K is the reason why you can never go wrong expecting a dump.

Answer my question, do you want bitcoin price to dump lower than $20K again this year?

[bocyaj]

COVID 19 enriched majorities while the minorities suffer.
The current increament in the cost of commodities in the market is alarming bad yet the majorities who are representative of the minorities (politicians) seem to pay less concerned.
This increament before now was tag to be as a result of Covid 19 which interrupted importation and exportation of good and services.
It is expected that with the decrease in the Covid 19 spread I thought their will be a corresponding decrease in prices of price the reverse is the case.
My question remains is their any hope for price decrement.

For a week,their will be huge increase in the price of bitcoin.If you really a trader and holding some bitcoin with the past trade.You should hold the bitcoin.Only the experience traders know,it was a give back assets.Because the bitcoin was the celebrating assets for now.It will give you 10x profit in a period of three years.

[evilgreed]

COVID 19 enriched majorities while the minorities suffer.
The current increament in the cost of commodities in the market is alarming bad yet the majorities who are representative of the minorities (politicians) seem to pay less concerned.
This increament before now was tag to be as a result of Covid 19 which interrupted importation and exportation of good and services.
It is expected that with the decrease in the Covid 19 spread I thought their will be a corresponding decrease in prices of price the reverse is the case.
My question remains is their any hope for price decrement.

               The only thing you should be thinking about to make a sense of everything related to price increase and decrease is the status of supply and demand. And as of the moment, demand is high and the supply is low due to the covid-19 pandemic. Trasports are limited and so does the exportation and importation. Even now here where I live, we are still under MECQ(modified enhanced community quarantine) that limits people coming in and out of our city. Parcels are delayed unless they are essential stuff like food, drugs and medical apparatuses/supply. Price decrement will only happen when everyone gets vaccinated with a full proof vaccine in the future. But for now, we are still in a very bad position to expetprice decrement.

[Shenzou]

COVID 19 enriched majorities while the minorities suffer.
The current increament in the cost of commodities in the market is alarming bad yet the majorities who are representative of the minorities (politicians) seem to pay less concerned.
This increament before now was tag to be as a result of Covid 19 which interrupted importation and exportation of good and services.
It is expected that with the decrease in the Covid 19 spread I thought their will be a corresponding decrease in prices of price the reverse is the case.
My question remains is their any hope for price decrement.

I think that the prices increasing due to Covid is a sensitive subject, because sure we can blame some industry not having enough supply due to the pandemic is a logical thing, but in other some i think that they are riding the wave and just blaming it on the covid, to artificially create scarcity to increase demand while also decreasing supply by doing less manufacturing in order to increase prices to pump their numbers in terms of profit, so i seriously expect this situation to go on for another year or two at least until the whole covid thing dies down.

[Fortify]

COVID 19 enriched majorities while the minorities suffer.
The current increament in the cost of commodities in the market is alarming bad yet the majorities who are representative of the minorities (politicians) seem to pay less concerned.
This increament before now was tag to be as a result of Covid 19 which interrupted importation and exportation of good and services.
It is expected that with the decrease in the Covid 19 spread I thought their will be a corresponding decrease in prices of price the reverse is the case.
My question remains is their any hope for price decrement.

The world of Bitcoin is full of speculators and everybody had a different entry point for their trades. Just a day ago Bitcoin had wiped out all it's gains for 2021, if you were one of the unlucky ones to buy near the top or in the space between $30k and $65k then you would only have seen downward movement. $30k seems about the expected price point at present but the trend has been downward for a while now. If you are a rational new investor in the cryptocurrency space, would you really want to get involved with Bitcoin when it would be tough to double your money, or would you look for something like Dogecoin which saw the value go up by thousands of percent in the space of a few weeks? You can surely see new buyers going elsewhere, no matter how much brand reputation Bitcoin has, so the price pressure will naturally keep pushing it back down.

[paxmao]

Nope, no hope in the horizon, in fact all the money printing is creating a clear paveway for the inflation. We have not yet paid the true cost of COVID, we have only been living on an illusion of free money, subsidies signed by presidents that know that they are not re-elected if people are hungry and central banks that consider their duty to save every and all dying company that is zombying its way in the market floating in an ocean of cheap debt and low rates.

Yet, as you say, the ones to suffer will be the same as always.

[Darker45]

The end of the tunnel is not yet in sight. That is, if we are talking of the COVID-19 pandemic. While the daily spread of the virus is indeed decreasing, it is still very high at 426,328 new cases just yesterday.^[1] Not to mention that we are facing new variants that are said to be more contagious and would probably cause another wave.

Meanwhile, the economy has not yet really started its recovery phase. The virus is still there without a cure or even a vaccine that would totally protect an individual from getting infected, lockdowns are still being implemented, shops and stores are still closed, movements are still very much limited, and so on. Having said all this, I cannot see a price decrease in goods and services anytime soon.

[1] https://www.worldometers.info/coronavirus/

[Anonylz]

Are you referring the trend of price in terms of commodities or btc? Reading through the post sure looks like you are asking base on the high cost of commodities at present,  we'll that depends on countries and their policies to handle the aftermath of Covid-19, some countries are still not fully open to other countries for import and export, they are still very strict laws in that aspect, and this is affecting production greatly, but this is in the advanced countries,

In the less advanced countries, Covid-19, insecurities are preventing the locals from producing their products, when production is less and the demand is high definitely the price of goods will skyrocket, you may think the majority don't seem to care or it didn't affect them but it does in one way or another,  even though they have the financial means but they will still feel the impact. The situation is critical and I hope it will be less a bit because the less privilege are the most affected.

[bittraffic]

Since you are praying for the price to go down, it shall be granted. Look how the chart is today. There may be some analyst that would say Bitcoin isn't yet in the bear market but we couldn't deny that the price dip from $60k down to $30k, isn't that a proof of downward trend?

If it goes beyond that price, you might have been heard by the whales and I'm not going to be surprised by the government around the world are also going to be buying BTC as well now that it's a trend that governments wanting to mine BTC. Whales wanted them to be onboard too that is why the price is dipping.

[Btcvilla]

Nope, no hope in the horizon, in fact all the money printing is creating a clear paveway for the inflation. We have not yet paid the true cost of COVID, we have only been living on an illusion of free money, subsidies signed by presidents that know that they are not re-elected if people are hungry and central banks that consider their duty to save every and all dying company that is zombying its way in the market floating in an ocean of cheap debt and low rates.

Yet, as you say, the ones to suffer will be the same as always.

You are lucky to live in a country where the government really cares about the condition of the community during Covid. At our place, assistance is only done at the beginning and that in my opinion is not feasible. Even aid funds in the corruption of irresponsible elite people. That's why in my country people have to try to fight the flow of covid, because otherwise they won't eat right away.

[stompix]

I abandoned most of my long at about 33500. I imagine we could be due a drop but I don't know how far, perhaps to 29k or something (we could reach 42 before then though too). I want something a little more sustained around the 30k level - if we don't get that and go up we're still pretty bullish imo but it'd be nicer to get an extra confirmation.

Interesting, were those longs opened after or during the dip?
I only played for pennies, all my guts were telling me that once it will rebound it will do at least 5% up but I'm not taking risks with large sums anymore and not going into 100 leverages either.

Every day I'm starting to believe more and more it's about time I stop checking the price for a period as the whole situation is simply too unpredictable, we might go as low as you've mentioned indeed but even nailing that dip won't help me that much, I have far too little to invest compared to cold wallets to matter, and the stress isn't worth it.

Meanwhile, the economy has not yet really started its recovery phase. The virus is still there without a cure or even a vaccine that would totally protect an individual from getting infected, lockdowns are still being implemented, shops and stores are still closed, movements are still very much limited, and so on. Having said all this, I cannot see a price decrease in goods and services anytime soon.

Some branches of the economy are inexplicable slow are fully reopening, sometimes I wonder what the hell is going on!

Food processing is here at 100%, orders are on the same levels as 2019, but try to get some construction done or maintenance on a farm, we've waited 12 days for a few damn replacement parts we could normally simply go to the hardware store and buy, and we're talking about basic stuff one month ago we weren't able to find steel cables, while two years ago I could go and fill a truck with every size possible.

Every single hotel owner is pessimistic about tourists not coming, not spending but those damn jackals have raised the prices by 25-50%.
I don't know what's wrong with this world anymore!

[semobo]

COVID 19 enriched majorities while the minorities suffer.
The current increament in the cost of commodities in the market is alarming bad yet the majorities who are representative of the minorities (politicians) seem to pay less concerned.
This increament before now was tag to be as a result of Covid 19 which interrupted importation and exportation of good and services.
It is expected that with the decrease in the Covid 19 spread I thought their will be a corresponding decrease in prices of price the reverse is the case.
My question remains is their any hope for price decrement.

I guess OP is talking about the price increase of goods and services, if yes then he actually need to realize that the price of products are not increasing, the purchasing power of our fiat money decreased especially in 2020 and after that governments are printing money with no limits. And the reality is the worse is yet to come so don't expect the prices to drop and find a way to make more money.

[iv4n]

...

to OP always remember that they are printing a TON of money specially during COVID time. there is no way to see any price decrease anywhere, in bitcoin, stocks, groceries, rent, utilities,... all are going up.

All prices are going up like crazy... not sure about the other parts of the world, but here some things are +100% higher than in October last year! And yes, money printing is definitely one of the problems!
I don't wish to sound like a pessimist, but I am not sure that hope for any downward ever existed... it's simply the economy! Constant rise, constant growth... debt-based economy that requires more money printing, more loans/credits...
One thing is certain, it will get worse before it gets better!

[TheGreatPython]

The current increament in the cost of commodities in the market is alarming bad yet the majorities who are representative of the minorities (politicians) seem to pay less concerned.
This increament before now was tag to be as a result of Covid 19 which interrupted importation and exportation of good and services.
It is expected that with the decrease in the Covid 19 spread I thought their will be a corresponding decrease in prices of price the reverse is the case.

I get what you’re saying. This is how it has been in my country, the price of things has been very high. It’s even hard for people to afford food to eat these days, because when you go to the market to buy food to cook, you will notice that everything has increased in price. So everyone is just trying to manage with the little they have.

I do ask myself this same question, whether the price of things will get better anytime soon, because it’s really bad. I am not happy with the situation this COVID-19 left us in, and nobody is happy about that, looking at how worse things has gotten. The government is not even doing anything about it, they don’t care about the people.