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

[skarais]

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.

I see the OP is not used to replying or responding to anything in the thread he started and maybe it could be left out. While I also don't see it answer anything in this thread after it's published. So I think there will be a lot of answers that might not be useful to him even though behind the scene he can read each one of them when he doesn't respond to anything here.

The government is not even doing anything about it, they don’t care about the people.

Maybe this situation is not only happening in your country because almost all countries are experiencing the same situation. Even in my country the government has proposed taxing basic need, education, health and even services. I think there are pros and cons to the government's effort to improve the country's economy because at the same time people continue to feel the impact.

[terrorJR]

the decline will always be there, depending on how you implement the strategy and read the charts using a certain duration. so try to pay attention to his every move. even during bullrun, the moment of decline will always be seen based on the duration of the trade. which is synonymous with short-term trading.
it's just that you are ready and know what risks will be accepted if you make such a trade?

[Obito]

A few days ago, it felt like the trend was starting to be downwards. And I said, "That's it. We are totally in the bear market from now on.". But here we are seeing Bitcoin price climbing up to its usual levels again. If this continues, we may see $40k again. But it is debatable whether it will maintain at 40k for a longer time than before.

One reason is the volatility of bitcoin has been doing it's work this past few days so we can't trust our prediction because we are likely to be proven wrong, just have some money on standby to buy bitcoin when the prices go down really bad and ready to sell when you feel like the prices are going up and it feels like the prices are going down after the rally.

[sapnu]

This simply shows how unpredictable the market is. After the incident with Elon Musk wherein he chose to remove bitcoin as a mode of payment for Tesla as he reason out that it is consuming too much fossil fuel when mining, the value of bitcoin went down and it marked the beginning of the bear market. Recently, he mentioned that he will once again accept bitcoin and it led to bitcoin's upward trend once again. Although it is not completely because of that, it still made a huge impact. Down trends will still happen, just be patient and stay aware and observant so that you can hit the right timing.

[Mpamaegbu]

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 too is a source of worry for me, coming from a third world country with obvious nonchalance from politicians and the wealthy who have refused to fix a decaying nation. It's commonsense that those who are profiting from the skyrocketing price won't want to give it up. So, I don't see price descending any time soon. It may work in countries where supply and pricing mechanisms are still in place. Sadly, I don't see that happening on the part of the Africa continent I'm from. At one time, the Nigeria government blamed the inflation in the country on the activities of crypto and Forex traders in the country. Thus, part of the reason cryptocurrency was banned in Nigeria in February this year. That's poor judgement on the part of the government to think so. Commodity prices started skyrocketing when the government closed certain borders and placed restriction on Forex exchange to individuals. And that's a country with over reliance on importation. It's expected that such an action will only lead to inflation, and that's what is happening now.

[kryptqnick]

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 everyone suffered a lot from the pandemic, but poorer countries and smaller businesses were hit harder than others. The US printed tons of Fiat, and inflation is already a bit higher than expected if I'm not mistaken. As for Bitcoin, it recovered from the initial hit of March 2020, and I think it became largely independent from the pandemic, unlike the global economy. So the price can go up or down, based on other events and their media coverage, but it's impossible to predict where it'll go.

[Viscore]

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 everyone suffered a lot from the pandemic, but poorer countries and smaller bs usinesses were hit harder than others. The US printed tons of Fiat, and inflation is already a bit higher than expected if I'm not mistaken. As anfor Bitcoin, it recovered from the initial hit of Ma rch 2020, and I think it became largely independent from the pandemic, unlike the global economy. So the price can go up or down, based on other events and their media coverage, but it's impossible to predict where it'll go.

This pandemic has made everyone to struggle even harder and the price inflation is even more growing when it comes to goods and services. Poor people are becoming even poorer and there's no way our economy will recover if this covid 19 variants continue to appear  and infected people.

However, when it comes to crypto market, either prices will go up or go down, that is already expected knowing the market is very much volatile. But still some investors do not understand the market's high volatility mostly newbies and continue to become stressed out seeing the prices keep on declining.

[fiulpro]

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.

It was actually down for a really long time which gave people an amazing opportunity to buy some more thus we saw the sudden upturn, right now I do think that we will see a lot more down fall in the market , we are still in a phase of lockdown and therefore these things are common.

I do think that if you want to invest big then wait for a while . At the same time you have to consider the news where countries adopted bitcoins as a legal currency therefore it will also spike up the price when that happens. This is something that you can look forward to.

Right now due to some probelms in China past week we did see a slightly lower price. Look out for any news, it's a critical time especially for trading.

[Oceat]

A few days ago, it felt like the trend was starting to be downwards. And I said, "That's it. We are totally in the bear market from now on.". But here we are seeing Bitcoin price climbing up to its usual levels again. If this continues, we may see $40k again. But it is debatable whether it will maintain at 40k for a longer time than before.

One reason is the volatility of bitcoin has been doing it's work this past few days so we can't trust our prediction because we are likely to be proven wrong, just have some money on standby to buy bitcoin when the prices go down really bad and ready to sell when you feel like the prices are going up and it feels like the prices are going down after the rally.

There's something going on with the market since the time it touches below $40k when Elon Musk made a FUD news.
But look what happens to the market, it seems that we are bouncing back and forth in $30k up to $39k. I think a single news would make this price either go break a strong resistance/support level and that would be the signs of where Bitcoin is heading.

This pandemic isn't doing anything to the price but somehow people are switching from fiat to crypto which is helping to maintain the price level of where we are now. Although, the economic crisis due to this lockdown is very alarming since last year. We keep on hoping that this would end so soon but the truth is it won't because of these new variants keep showing up as if it was being timed exactly to prolong the lockdown and to continue the economic crisis.

[LUCKMCFLY]

In various articles that I have read, the one that most caught my attention was this:
If these players play their cards right, Bitcoin may re-establish bullish leg

Where the author concludes that the price of BTC does not yet have a clear trend, what exists is an uncertainty that reigns in the market, in the short term there are many technical analyzes that I have shared, but it is in the short term, in the long term there is a Very good theory based on S2F, which indicates that the only bearish price sensation is located in the $ 100k, this is something that fills a lot of hope, but in general terms not everyone has the same thinking as an investor.

  In the long term in any investment, time is the best ally, but in the short or medium term when the results do not occur, they tend to give a lot of despair to traders or small investors, even more so, if they depend on that money invested. In this sense, I think that this is not the time to decide on a BTC sale, I think that those who have BTC put it in HODL while they can, sometimes when it is sold, it increases a lot in price and it stops earning.

[judaspriest]

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 everyone suffered a lot from the pandemic, but poorer countries and smaller bs usinesses were hit harder than others. The US printed tons of Fiat, and inflation is already a bit higher than expected if I'm not mistaken. As anfor Bitcoin, it recovered from the initial hit of Ma rch 2020, and I think it became largely independent from the pandemic, unlike the global economy. So the price can go up or down, based on other events and their media coverage, but it's impossible to predict where it'll go.

This pandemic has made everyone to struggle even harder and the price inflation is even more growing when it comes to goods and services. Poor people are becoming even poorer and there's no way our economy will recover if this covid 19 variants continue to appear  and infected people.

However, when it comes to crypto market, either prices will go up or go down, that is already expected knowing the market is very much volatile. But still some investors do not understand the market's high volatility mostly newbies and continue to become stressed out seeing the prices keep on declining.

Since the existence of this pandemic, we can't deny that it really has a big impact on the economy of each household,
both the rich and the poor are affected but the most difficult is of course for the poor,
and talking about the cryptocurrency market I think it can be said as usual which is volatile as you say

[Silberman]

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.

Unlikely and this is mainly for two reasons, the first is inflation, the price of everything went up because governments printed money to pay for the vaccines, raise the stock markets and other stuff and this in return increased the price of everything, and the second reason are businesses themselves, business owners created their business to make money, this means that at whatever opportunity they have they will raise prices, but even if things go back  to the way they were and we see a decrease on the stuff necessary to run their businesses they will refuse to lower the prices as they like their current profit margins.

[swiftbits]

The fact that the crypto prices boomed during the pandemic is one of the responses to the crisis.
But Pump and dump schemes are present due to the high demand, so I think the market decline is only short-term.

[Questat]

The fact that the crypto prices boomed during the pandemic is one of the responses to the crisis.
But Pump and dump schemes are present due to the high demand, so I think the market decline is only short-term.

I don't think so. Because those who have been in crypto will be taking the benefits and sad to say that only a very small percentage of the total population knows about this. How does that become a solution? And those poor people could have no chance to prioritize investing but of course, they took themselves first.

If we think that prices will dump, that seems so hard this time until the pandemic still exists. We almost close to $25k, but the market recovers so fast as the demand still high and moving back to $30k. Maybe, we're not seeing $20k Bitcoin's price back again.

[BrewMaster]

The fact that the crypto prices boomed during the pandemic is one of the responses to the crisis.
But Pump and dump schemes are present due to the high demand, so I think the market decline is only short-term.

it has just been bitcoin that has been rising in price. the altcoins are still pump and dumping so they always end up at a lower price because their dump is inevitable.
it wasn't just during pandemic though, bitcoin has been rising ever since 2019. it is currently up 993% so far!

[swiftbits]

The fact that the crypto prices boomed during the pandemic is one of the responses to the crisis.
But Pump and dump schemes are present due to the high demand, so I think the market decline is only short-term.

I don't think so. Because those who have been in crypto will be taking the benefits and sad to say that only a very small percentage of the total population knows about this. How does that become a solution? And those poor people could have no chance to prioritize investing but of course, they took themselves first.

If we think that prices will dump, that seems so hard this time until the pandemic still exists. We almost close to $25k, but the market recovers so fast as the demand still high and moving back to $30k. Maybe, we're not seeing $20k Bitcoin's price back again.

Yes, you have a point. I mean, we reached ATH during the pandemic; I guess it is due to an increase in demand.
I think there are players out there taking advantage of the market situation, resulting in volatility, so I think the decline is only short-term.
I mean, the crypto prices will get better.

[swiftbits]

The fact that the crypto prices boomed during the pandemic is one of the responses to the crisis.
But Pump and dump schemes are present due to the high demand, so I think the market decline is only short-term.

it has just been bitcoin that has been rising in price. the altcoins are still pump and dumping so they always end up at a lower price because their dump is inevitable.
it wasn't just during pandemic though, bitcoin has been rising ever since 2019. it is currently up 993% so far!

Yes, I agree. Let's not forget strong altcoins out there, Bitcoin has a great influence on the price movement as it is usually used as trading pair.
Some altcoin doesn't have any use case, so they are vulnerable to dumping.

[barbara44]

The fact that the crypto prices boomed during the pandemic is one of the responses to the crisis.
But Pump and dump schemes are present due to the high demand, so I think the market decline is only short-term.

I don't think so. Because those who have been in crypto will be taking the benefits and sad to say that only a very small percentage of the total population knows about this. How does that become a solution? And those poor people could have no chance to prioritize investing but of course, they took themselves first.

If we think that prices will dump, that seems so hard this time until the pandemic still exists. We almost close to $25k, but the market recovers so fast as the demand still high and moving back to $30k. Maybe, we're not seeing $20k Bitcoin's price back again.

Not that anybody can guarantee that this downtrend is a short term one, but nobody can guarantee it being long term neither. You are saying that people will be taking profit like it is a known thing but nobody could know what other people will do like that, you can guess it but the other guy is making a guess as well. This is why these are all speculations, maybe suddenly we will start going back up and in a month be over 60k again, maybe we will continue to go down and be under 20k in a month, either could happen and they are both equally possible, one is not more possible than the other.

This is why we are trying to make guesses and predictions, not claim it like we know what is going to happen, because that is just insane, if you are 100% guaranteed know that bitcoin will go down, sell every single possession you have until you only have the clothes on your back and nothing more and go short bitcoin, will you? No. Why? Because it is not guaranteed, it is just a guess.

[Kakmakr]

Why would these businesses decrease prices, if they have a legitimate excuse to inflate it? The consumer is the real victim of this whole Covid epidemic, because they are the ones that are absorbing the price increases. The merchants and middlemen are still making their profits and they are just pushing the cost onto the consumers.

I can take a bet now that even if this pandemic is done ....prices will not be adjusted to a economy that recovered. (They will keep the prices inflated to make up for their so-called losses during the lockdowns)

[teosanru]

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 you are talking about the inflation levels of the economy surprised to see a few answering in terms of Bitcoin pricing. I think inflation was sort of expected because of the increased money supply from last year. Also the ideas of basic minimum income further escalated the inflation in the economy. Now with economic growth downward this is creating a very negative scenario. Increased prices with decreased GDP is a very bad indicator of the economy as the poor would suffer a lot. Only way out of this situation is to increase further supply even more to drive customer demand and rectify the situation but this is quite risky as it could create a debt trap sort of inflationary scenario.