Is Bitcoin about to break out of the $30,000s market bottom?

[smyslov]

The price of BTC has been recovering very quickly, since the bottom of $ 30k is being left behind, when the price rose from $ 34k to $ 36k it was already seen that it could reach $ 40k, it even arrived, but it is trading a lot in the $ 39k levels, I think the bullish momentum is stronger:

This is very positive has something to do with the latest meeting between Dorsey and Musk, because after the meeting we have seen the price move up slowly until the momentum build-up, I hope the month of August will bring more positive news, this year is still a breakthrough year for all us we break the all-time high and we are aiming for a new record high, this is could be the best year for the market.

[ethereumhunter]

Bitcoin already breaks $40k, and even it reached $42k before. But this time, bitcoin makes a correction by getting down for $39k. It will back to up to $40k soon and the gap for that price is not too big so I guess that this week, the price can reach that price. It seems the price will be up and down to $38k-$40k many times like what we already saw when bitcoin price is at $30k-$35k because, for this few days, bitcoin is not moving to more than $40k. But the trend is still positive so that can lift the price to the high price soon.

[AliMan]

What do you think? After the Amazon rumor pump, followed by dropping back to $36k when Amazon said it wasn't true, Bitcoin is now a day later back pushing $40k. The market bottom has been roughly the $30,000s range (basically $29k to $41k) for the past 2+ months, do you think bitcoin now has enough strength to break out of the bottom of this mini-bear market in the next few days/week or will the price slump back down and stay in the $30,000s for a while longer?

Continued ranging on the bottom or break out and starting to move back to ATHs?

Indeed, it's going to move back to ATH and hopefully soon we'll able to recover successfully without any circumstances that might hinder increase. Based on the poll, breaking $40k is now commencing and to give any further developments resistance still strong even if green signals is showing good tracks.

[Kemarit]

Bitcoin already breaks $40k, and even it reached $42k before. But this time, bitcoin makes a correction by getting down for $39k. It will back to up to $40k soon and the gap for that price is not too big so I guess that this week, the price can reach that price. It seems the price will be up and down to $38k-$40k many times like what we already saw when bitcoin price is at $30k-$35k because, for this few days, bitcoin is not moving to more than $40k. But the trend is still positive so that can lift the price to the high price soon.

That's the thing, we need it to sustained to $40,000 first before we can see another break out. This bull run is not the same as the massive one we see reaching the last all time high we got. So it might take some time for it to grow again to $45,000-$50,000, as that will be the next logical target if ever we are going to see another movement next month. Nevertheless, its a good indication that we won't see any bottom as we have reach it when the price dips to $28,000-$29,000.

[el kaka22]

Well, I agree with this but also disagree with it and I do not know which option to pick. I believe that we are not going to see under 30k again (not for a while at least) and I believe that we are going to stay above 33.5k+ levels for a long time, who knows unless something major happens maybe we will never see that again, remember you always see a price for the last time and never know about it, during 2k to 3k levels I never imagined in a million years that we would never see those prices, but as it turns out we never saw those prices at all.

It means that we are talking about maybe the same thing now for 20k to 30k? I am not saying it will be like that but we will never know when is the last time we see it. At the end of the day we will not be able to know for sure but I believe it will not drop under 33.5k again for a while, but that also doesn't mean that we will above 40k comfortably neither.

[pooya87]

remember you always see a price for the last time and never know about it, during 2k to 3k levels I never imagined in a million years that we would never see those prices, but as it turns out we never saw those prices at all.

Interestingly enough when price was stuck in $3k and couldn't break $4k for a long time there were a lot of shorts like this and FUD trying to convince everyone that price can no longer go up and the "bear market" has started. The $4k break was explosive and price reached $7k in a very short time right after!

[Jating]

remember you always see a price for the last time and never know about it, during 2k to 3k levels I never imagined in a million years that we would never see those prices, but as it turns out we never saw those prices at all.

Interestingly enough when price was stuck in $3k and couldn't break $4k for a long time there were a lot of shorts like this and FUD trying to convince everyone that price can no longer go up and the "bear market" has started. The $4k break was explosive and price reached $7k in a very short time right after!

And then from then on, the price goes on a super fast rally and the rest is history.

For the bottom price, I think it will be possible, we might never know that there could be FUD again that will push the price down. Currently, at $40k it's just a couple of thousands of dollars and then we are in the bottom again. Nevertheless, let's just enjoy the current ride, I do hope that $45k can be breach next month, we have a lot of legroom to make it happen in August.

[rahmatrf331]

remember you always see a price for the last time and never know about it, during 2k to 3k levels I never imagined in a million years that we would never see those prices, but as it turns out we never saw those prices at all.

Interestingly enough when price was stuck in $3k and couldn't break $4k for a long time there were a lot of shorts like this and FUD trying to convince everyone that price can no longer go up and the "bear market" has started. The $4k break was explosive and price reached $7k in a very short time right after!

people have the same thoughts when the price falls saying it's dead, it won't go up again, the price has crashed. but in turn the price has gone up, this price will continue to rise and rise. but the funny thing is they don't invest when the price is down and regret it when the price is pumping.
as is today's reality, bitcoin hit $40,000 yesterday although it's now down at $39,000. that's proof that bitcoin never dies and continues to live as long as the market exists.

[ethereumhunter]

Bitcoin already breaks $40k, and even it reached $42k before. But this time, bitcoin makes a correction by getting down for $39k. It will back to up to $40k soon and the gap for that price is not too big so I guess that this week, the price can reach that price. It seems the price will be up and down to $38k-$40k many times like what we already saw when bitcoin price is at $30k-$35k because, for this few days, bitcoin is not moving to more than $40k. But the trend is still positive so that can lift the price to the high price soon.

That's the thing, we need it to sustained to $40,000 first before we can see another break out. This bull run is not the same as the massive one we see reaching the last all time high we got. So it might take some time for it to grow again to $45,000-$50,000, as that will be the next logical target if ever we are going to see another movement next month. Nevertheless, its a good indication that we won't see any bottom as we have reach it when the price dips to $28,000-$29,000.

After what happened yesterday, it seems bitcoin is not back to $40,000 because the price only stays at $39,xxx and if the price is up, the up price is just hundreds and vice versa. While we are at the weekend, we could expect that the correction will come again so we need to be aware of that and sell if you think you want to take profit for a while to buy bitcoin at a low price. Hopefully, we will not see the bottom at $28,000-$29,000 again but still need more analysis to see if the price will go down lower to that range of the price.

[bryant.coleman]

I know that a lot of people were waiting for the 20K level, to accumulate BTC cheaply. They will be disappointed. BTC dipped below 30K for a short period of time, but it rocketed upwards as soon as the news (rather rumor) about Amazon acceptance came. It was a very sharp rally from $28,000 to $41,000 in a couple of days. And even after Amazon denied the rumor, the prices remained at a very high level. There was some sell-off which resulted in the exchange rates dipping to 37-38K, but the recovery happened in less than a day.

[lenovop-70]

No, it wont be under $30k anymore, the market foundation is very strong at that level, as we see so many retest several weeks ago, once it broken, BTC going up like today.
The Amazon rumors did not take many affect with this bullrun, as we see after their decline that news is not right, BTC still continue to grow. Hope it will be break $42k soon and bull will still run until next december.

[asrinur]

I think the outlook for bitcoin may look bleak at the moment but historically this is just another hurdle for bitcoin to overcome and is a minor hurdle compared to the past. A number of negative sentiments pressured bitcoin prices during the week. This started with China's steps to tighten the use of crypto money. However, I am sure that the bitcoin price will move to a new ATH in the future.

[Dhaniii]

I think the outlook for bitcoin may look bleak at the moment but historically this is just another hurdle for bitcoin to overcome and is a minor hurdle compared to the past. A number of negative sentiments pressured bitcoin prices during the week. This started with China's steps to tighten the use of crypto money. However, I am sure that the bitcoin price will move to a new ATH in the future.

bitcoin will always live, even though China continues to tighten the use of bitcoin in its country. because currently several countries are at war with the market, one of the factors that can affect the country's economy is the level of adoption and use of the value of the digital currency, namely bitcoin.

[ILuckyGuyI]

It seems like Bitcoin price has nothing to do with $30k now. But it could be early to say too of course. Now, we observe the price over $41k after a very long time. And if it continues to break resistance levels like this, we could even see it reaching $50k again in a short time.

[CaVO32]

It seems like Bitcoin price has nothing to do with $30k now. But it could be early to say too of course. Now, we observe the price over $41k after a very long time. And if it continues to break resistance levels like this, we could even see it reaching $50k again in a short time.

As this market is very unpredictable, we just hope for positive things to happen here. Let's be grateful that it surpasses again the $40k level, wherein, a lot of spectators made the wrong prediction as some predicted that it will go down below $30k. It shows that in this market, it is hard to really give precise predictions as there are so many variables that are in play. Now, you will see again users that they will say, they should have bought at 30k and have gained their profits selling at this 41k+ level. Same old, same old.

[cryptomaniac_xxx]

I think the outlook for bitcoin may look bleak at the moment but historically this is just another hurdle for bitcoin to overcome and is a minor hurdle compared to the past. A number of negative sentiments pressured bitcoin prices during the week. This started with China's steps to tighten the use of crypto money. However, I am sure that the bitcoin price will move to a new ATH in the future.

The Chinese FUD is over, bitcoin was able to hurdle this one, proving it's resiliency once again. The Chinese news though will linger, and it may cause another short term minor negative effect. However, we have seen bitcoin's tremendous rebounding power, how many days have we seen green candles already? 10+ days? That's a sign that we might be moving to a new ATH in the future. This is just the start and eventually before the end of the year, a new ATH will be reach.

[buwaytress]

The Chinese FUD is over, bitcoin was able to hurdle this one, proving it's resiliency once again. The Chinese news though will linger, and it may cause another short term minor negative effect. However, we have seen bitcoin's tremendous rebounding power, how many days have we seen green candles already? 10+ days? That's a sign that we might be moving to a new ATH in the future. This is just the start and eventually before the end of the year, a new ATH will be reach.

Hasn't "China news" always been the prelude to a big Bitcoin rally once its overcome the immediate bearish market effects though? Anyway, I was hoping to see a majority of votes for at least "not yet" but most people think this is the break out ensuing. Not usually what I'd say is a good indicator given how inaccurate us forum people have been in Speculation ha;)

Last rally saw an ATH 10 months after old ATH was broken. December 2020 is my marker in this case, so if we don't get anything by early October, I'll dig in for the long cold winter.

[decodx]

It is clear that the bulls have taken control again and institutional investors are also showing renewed interest. Bitcoin easily crossed the key level of $ 40k, reaching a peak of $ 42,400 yesterday. This is the highest level of bitcoin since mid-May, when cryptocurrency experienced serious shock, after which the price moved halfway down from the ATH record.
Any potential future correction would most likely be very short-lived due to this renewed demand and opportunity.