22 july, BTC 20k$ or 70k$?

[pooya87]

I like the idea of this but I am also very well aware that Bitcoin has dropped 85% before in the past

People usually focus a lot on the drop instead of the reason for the drop.
For example the 85% drop didn't happen out of nowhere under normal circumstances. But instead it was after 13200% rise after 3 years. In comparison price has to reach $500k first before it can have another 85% drop. Until then anything bigger than 30% is unnatural and bitcoin would be undervalued.

[LogitechMouse]

We’ll never see $25,000 or below again, quote me on that.

I don't know but as of this moment, I'm feeling very optimistic with regards to Bitcoin and the crypto market as a whole.
I will agree on this. Bitcoin to $25,000 seems to be impossible or in this case have a very chance of happening.

Now A Big Meeting is going On 22 July 2021, Between Elon Musk and Jack Dorsey, So what can happen in this meeting? As Jack always try to do good for bitcoin sp he will Convence elon and
Tesla will again Accept Bitcoin? Btc will got o 20k$ or 70k$?
As I am Perosnally Thinking that we can't Ignore this meeting,
what you people can think? Share Your views

Do you think that this meeting will have a very huge impact towards Bitcoin? I don't think so at least for me.
I will not choose into either of the 2 choices that you shared because nothing will happen to Bitcoin's price. When this news spread in the internet, nothing happened into the market. Now when it will happen on the 22nd, I don't think that this will have an impact towards Bitcoin but still there is a possibility that something huge might happen but going to $70,000 is impossible.

If the market will react positively to this meeting, my prediction is to at least reach the $40,000 price resistance and from there we might see either a bounce back or a further move towards the upside. I will ignore this meeting because I don't see any significant things that will happen here at least for me.

[Reatim]

It could be a turning point for Bitcoin price really. Elon Musk made a statement some time ago like Tesla would start accepting Bitcoin again as long as Bitcoin mining is made without fossil fuels. Maybe he will really do it.

Elon Musk messages are not worth trusting anymore < He even Dumped Bitcoin rigth away without even further notice and now claiming to accept again
he obviously making fun of us investors of Bitcoin and please don't fall into any now.

In my opinion, Bitcoin will not make any dramatic price gains until the fall for now. Meeting Elon Musk with someone can change nothing. After the recent scandals around his tweets and statements about cryptocurrency, he will no longer have the same influence on the masses. Therefore, the price of bitcoin will not fall to $ 20,000 or rise to $ 70,000. During these summer months, cryptocurrency is almost always at the same price level.

Same belief in here mate because he had already lost His credibility towards crypto market and investors , so there might be someone who still believes in him but that is quite smaller compared to those who trust him from last year.

[STT]

We are fully declined to the area of the 50 week average which is still rising, so a bounce might happen but not 70k.   Way more work to be done yet

I'll post a weekly bar graph because to me that is the master plan that is of most reference and its also the most simple take and so the most likely clear view for accurate projections.



This is all the big bars, before this we were small time in comparison back xmas prior.   We're in the midst of Jan action and that should be considered support, an area of interest not just this 50 week MA which equates to a yearly average but for volume reasons.   Then we must consider momentum, to get 70k you need this inertia set in play and as the sideways consolidation shows we are low momentum.    The price is still volatile but each recent bar has been small red or small green with wicks which are not as important as closing price.

[Rasa nanas]

the current state of the market is a little confusing. Now that the bitcoin price has stabilized at $30k-$35k for quite a long time, this situation makes many people wonder whether the bear market is over or not. maybe this is the condition that makes bitcoin trading volume decline quite sharply at this time. if there are no significant changes this week, we are likely to hit $20k in the following weeks.

[bitterguy28]

We are fully declined to the area of the 50 week average which is still rising, so a bounce might happen but not 70k.   Way more work to be done yet

I'll post a weekly bar graph because to me that is the master plan that is of most reference and its also the most simple take and so the most likely clear view for accurate projections.



This is all the big bars, before this we were small time in comparison back xmas prior.   We're in the midst of Jan action and that should be considered support, an area of interest not just this 50 week MA which equates to a yearly average but for volume reasons.   Then we must consider momentum, to get 70k you need this inertia set in play and as the sideways consolidation shows we are low momentum.    The price is still volatile but each recent bar has been small red or small green with wicks which are not as important as closing price.

50 weeks is long enough and i think enough to understand that we are not heading any High from that 70k .

I believe that the highest we can make before the year end is at least 50k and that will stop there , let us admit that the 4 year cycle had already passed .

[smyslov]

50 weeks is long enough and i think enough to understand that we are not heading any High from that 70k .

I believe that the highest we can make before the year end is at least 50k and that will stop there , let us admit that the 4 year cycle had already passed .

I'm ok with $50k if there's no chance to break the $70k level I consider this better than the previous all-time high record that the market hold for three years, it could have been better if there are less FUD and more good news coming, the technology is moving just find there are new algo Ethereum and Binance is getting better and more coins coming in to introduce new technology, great to invest.

[newwest]

A week now left for the 22 July to come and btc is not moving in the strong direction at present. Slowly it is now moving towards 30k price as for couple of weeks it was near 33k range. This is not giving any good signs for btc to move at present to even above 40k though not losing hope as any dips only gives an opportunity to buy but need to be little careful from now on if its dips below 30k.

[slaman29]

We are fully declined to the area of the 50 week average which is still rising, so a bounce might happen but not 70k.   Way more work to be done yet

I'll post a weekly bar graph because to me that is the master plan that is of most reference and its also the most simple take and so the most likely clear view for accurate projections.

I think part of the weakness could be also that ETH has not been holding up its share of the support (broken 2000 and now below 1900). I know usually alts rely on Bitcoin, but in the previous bounce we also saw that as ETH held up its share of support, Bitcoin was able to bounce, and when it couldn't, we saw more losses on BTC. Stupid correlation but I think now confidence is shared across major crypto. Do you agree?

[bittraffic]

A week now left for the 22 July to come and btc is not moving in the strong direction at present. Slowly it is now moving towards 30k price as for couple of weeks it was near 33k range. This is not giving any good signs for btc to move at present to even above 40k though not losing hope as any dips only gives an opportunity to buy but need to be little careful from now on if its dips below 30k.

It would also be seeing this a bad news which will bring the price down which I guess is also the reason why it's also dropping today for they also speculate the same thing will happen. The unlocking of GBTC funds of Microstrategy could've one of the reasons too and if they're protecting their funds today, it may be the right thing to do for them because they don't know how low it could go.

We are fully declined to the area of the 50 week average which is still rising, so a bounce might happen but not 70k.   Way more work to be done yet

I'll post a weekly bar graph because to me that is the master plan that is of most reference and its also the most simple take and so the most likely clear view for accurate projections.

I think part of the weakness could be also that ETH has not been holding up its share of the support (broken 2000 and now below 1900). I know usually alts rely on Bitcoin, but in the previous bounce we also saw that as ETH held up its share of support, Bitcoin was able to bounce, and when it couldn't, we saw more losses on BTC. Stupid correlation but I think now confidence is shared across major crypto. Do you agree?

Everyone is losing now. Holding digital currency isn't a safe haven after. Sad faith that all the things we have heard, this is happening. We'll find out more on 22 july.

[slaman29]

Everyone is losing now. Holding digital currency isn't a safe haven after. Sad faith that all the things we have heard, this is happening. We'll find out more on 22 july.

But at least not as badly as BTC, which is always a good thing for me. I have to be honest and say I'm not very pleased of course but as long as we maintain the old ATH of 20k I will be in good spirits generally. There's always a next rally, though we may not really be done yet as 50MA is still holding strong.

[Anonylz]

And it is very disheartening to see that the faith of btc price lies in the hands of few rather than majority, this is a decentralize space but more or less operate like a centralize environment,  why should Elon Musk meeting on 22nd determine were price should go next! This shouldn't be but unfortunately this seem to be the reality,  many crypto followers base their decision on top players like Musk, hence panic sellers

[kotajikikox]

Everyone is losing now. Holding digital currency isn't a safe haven after. Sad faith that all the things we have heard, this is happening. We'll find out more on 22 july.

But at least not as badly as BTC, which is always a good thing for me. I have to be honest and say I'm not very pleased of course but as long as we maintain the old ATH of 20k I will be in good spirits generally. There's always a next rally, though we may not really be done yet as 50MA is still holding strong.

This comes only as not Safe Haven if you are tending to make profit short time , because if you are ready for long term holding then I believe that Bitcoin is still the Safest haven ever crypto provided.
I have already see the ups and downs of market from the previous halving to the recent one so i basically understand the sentiments here.
But With Elon Musk being in the talk again? i don't think that this will bring big impact in our market this time because Elon had already proven that he is not trustworthy and not even really care about the crypto market so how will this bring effect at all?
forget the man just focus on your investments.

[Obito]

And it is very disheartening to see that the faith of btc price lies in the hands of few rather than majority, this is a decentralize space but more or less operate like a centralize environment,  why should Elon Musk meeting on 22nd determine were price should go next! This shouldn't be but unfortunately this seem to be the reality,  many crypto followers base their decision on top players like Musk, hence panic sellers

That's the effect of decentralized market, anyone can assume control since it doesn't exactly follow any central authority, I think that we should've known about it by now because that's what we get when we don't want authority to get in control, other influential entities will try to take the proverbial crown of a decentralized market. There's nothing wrong when you are basing your buy and sell patterns to a influential personality in the market because if you know the right timing, their influence and attempt to manipulate the market might work in your favor.

[arwin100]

Everyone is losing now. Holding digital currency isn't a safe haven after. Sad faith that all the things we have heard, this is happening. We'll find out more on 22 july.

But at least not as badly as BTC, which is always a good thing for me. I have to be honest and say I'm not very pleased of course but as long as we maintain the old ATH of 20k I will be in good spirits generally. There's always a next rally, though we may not really be done yet as 50MA is still holding strong.

Yeah good thing we still at this level simce if we compare the past dump happen after the halving we can say that before is so deep and the bear market days is so long so gladly we are in healthy situation where bitcoin is so promising and had a high possibilities to recover back to its past ATH. Maybe next yesr we can see some great changes so better lets speculate about that and forget about bad manipulation happen this year.

[irsada]

Bitcoin won't reach $70k just because of their meeting, it's been almost 3 months since the bitcoin ATH, but to fall to $20k after that meeting is also impossible, because the bitcoin price has been around 30k for quite a while, so there's likely to be an upward spike until the end of July as the market starts to saturate around $30k. my prediction 40k might be a decent position for bitcoin.

[slaman29]

This comes only as not Safe Haven if you are tending to make profit short time , because if you are ready for long term holding then I believe that Bitcoin is still the Safest haven ever crypto provided.

Well, by default definition safe haven tends to refer to long term holding, or at least temporary holding until markets are "safe" again to venture out. You put value into safe haven to protect it, and yes, Bitcoin can drawback as we're seeing right now, but usually not as bad as other crypto. Gold of course seems to hold it even better but long-term gains can't beat Bitcoin

[SquallLeonhart]

Everyone is losing now. Holding digital currency isn't a safe haven after. Sad faith that all the things we have heard, this is happening. We'll find out more on 22 july.

But at least not as badly as BTC, which is always a good thing for me. I have to be honest and say I'm not very pleased of course but as long as we maintain the old ATH of 20k I will be in good spirits generally. There's always a next rally, though we may not really be done yet as 50MA is still holding strong.

Yeah good thing we still at this level simce if we compare the past dump happen after the halving we can say that before is so deep and the bear market days is so long so gladly we are in healthy situation where bitcoin is so promising and had a high possibilities to recover back to its past ATH. Maybe next yesr we can see some great changes so better lets speculate about that and forget about bad manipulation happen this year.

Constantly dropping was the biggest problem of 2018, I am glad that is not happening neither. We should also remember that price didn't went under 4k right away though, the price dropped as much as 6-7k levels from 20k levels and that was it, it stayed there for a very long time, and then in November 2018 we had BSV vs BCH war and Craig Wright sold tens of thousands of bitcoins and paid miners to mine his blockchain to take over BCH, he failed of course because he was going against literally the biggest miners in the world, and that is why the price went from 6-7 levels to under 4 as well.

Will we have another drop like we had in 2018? I do not think so, we do not have a war now, we do not have people who will sell a lot now, but we never know what can happen, so we should be ready for some 20k price if the same thing happens this year as well.

[Jating]

Bitcoin won't reach $70k just because of their meeting, it's been almost 3 months since the bitcoin ATH, but to fall to $20k after that meeting is also impossible, because the bitcoin price has been around 30k for quite a while, so there's likely to be an upward spike until the end of July as the market starts to saturate around $30k. my prediction 40k might be a decent position for bitcoin.

Maybe we should consider the news about the GBTC unlocking here, definitely that $70k prediction won't be reach by the 22nd. But currently with the news about the unlocking, it has somewhat sent shockwaves as the price is going down to the $30k. But hopefully it won't go again to $28k-$29k because of this news.

Of course, it will be another perfect opportunity to buy again if it goes down at that level, but I would rather not see it. We have been in the period of accumulation already, the price needs to be in that range, $30k-$35k before we could see another break out run. We don't need a sell-off because of that news.

[slaman29]

Will we have another drop like we had in 2018? I do not think so, we do not have a war now, we do not have people who will sell a lot now, but we never know what can happen, so we should be ready for some 20k price if the same thing happens this year as well.

That's actually something I was talking about in another thread. Bitcoin actually does very well AFTER a big threat, and this China mining thing to me isn't anywhere as big as the 2017 internal conflict in Bitcoin that caused the 2018 drop, from which we all know it recovered very well from.

We should definitely be ready for below 20k, but it's actually good news if it happens!