Drop from $60k to $30k was part of bull run cycle?

[ethereumhunter]

It seems what @OP show in the image is happening now as the price is back to $44k. If this is really a bull run, we will be very happy because the price will rise. But I am worried how deep the price will make a correction later after hit the next ATH because, in the previous correction, the price is down by half. Still, that makes us prepare for anything and do not forget to take profit before the moment is finished because that will make us wait for some time.

If before the end of his year, the bitcoin price can be at $100k, that can make people out there amaze because they will not believe that is really happening to bitcoin and will start to invest in bitcoin like the other.

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[cryptomaniac_xxx]

It seems what @OP show in the image is happening now as the price is back to $44k. If this is really a bull run, we will be very happy because the price will rise. But I am worried how deep the price will make a correction later after hit the next ATH because, in the previous correction, the price is down by half. Still, that makes us prepare for anything and do not forget to take profit before the moment is finished because that will make us wait for some time.

It's just the nature of bitcoin's price movement, -50% down and then comeback and make a new all time high. So yes, it's better to prepare for the worst or the better, get your profits if we reach a new all time high or higher than $64k and then see how it goes.

If before the end of his year, the bitcoin price can be at $100k, that can make people out there amaze because they will not believe that is really happening to bitcoin and will start to invest in bitcoin like the other.

There are a lot of predictions that we can reach $100k before the end of the year. But hell yeah, we can still be at awe when we eventually see the price hitting 6 digits for the first time.

[ethereumhunter]

It seems what @OP show in the image is happening now as the price is back to $44k. If this is really a bull run, we will be very happy because the price will rise. But I am worried how deep the price will make a correction later after hit the next ATH because, in the previous correction, the price is down by half. Still, that makes us prepare for anything and do not forget to take profit before the moment is finished because that will make us wait for some time.

It's just the nature of bitcoin's price movement, -50% down and then comeback and make a new all time high. So yes, it's better to prepare for the worst or the better, get your profits if we reach a new all time high or higher than $64k and then see how it goes.

The correction is coming again as we see the price now is at $43k. Hopefully, it is just a weekend correction and will be back increased in the next week. The increases yesterday gives me a nice profit although not much and this correction is also gives me profit but now, I am out from the market as I do not know how long the correction will end.

If before the end of his year, the bitcoin price can be at $100k, that can make people out there amaze because they will not believe that is really happening to bitcoin and will start to invest in bitcoin like the other.

There are a lot of predictions that we can reach $100k before the end of the year. But hell yeah, we can still be at awe when we eventually see the price hitting 6 digits for the first time.

That time will come but we need to have more patience because it needs more support that can lift the price to increase. Once the price reaches $100k, especially before the end of the year, that will be a good moment for us to sell some bitcoin and enjoy the profit.

[Vaskiy]

Cryptocurrency market always moves on a cyclic pattern. So, a drop is a indication for the people to invest. The recovery of bitcoin has now happened. People who sold at the right time on the peak will be now enjoying the profit through the buyback at the bottom.

When the price of bitcoin marked it ATH above $60k there were more price predictions of bitcoin price reaching $100k and more at the earliest. Soon the market dropped as a result of some negative news and once again it is bouncing.

[7788bitcoin]

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If before the end of his year, the bitcoin price can be at $100k, that can make people out there amaze because they will not believe that is really happening to bitcoin and will start to invest in bitcoin like the other.

We need to accept the fact that the price of Bitcoin will not keep on rising indefinitely and if the price goes above $100k during this run it is well and good but you need to expect huge sell off as institutional investors have invested billions expecting to make a huge profit and you cannot expect them to hold the coins without booking the profit. So the chances are slim to stay above $100,000 even if it reaches them during this bull run.

[ethereumhunter]

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If before the end of his year, the bitcoin price can be at $100k, that can make people out there amaze because they will not believe that is really happening to bitcoin and will start to invest in bitcoin like the other.

We need to accept the fact that the price of Bitcoin will not keep on rising indefinitely and if the price goes above $100k during this run it is well and good but you need to expect huge sell off as institutional investors have invested billions expecting to make a huge profit and you cannot expect them to hold the coins without booking the profit. So the chances are slim to stay above $100,000 even if it reaches them during this bull run.

Accepting is not easy, while we always want to see the price still increase. Sometimes, we forget that after the price increases, the price will go back for a while and stay for some time before the price will have another rally to the next high price. That is what we have always seen so far and that situation will be like that, so we need to prepare for any situation and condition so we know what we need to do based on the current situation. If the price increases step by step, that can trigger the bull run to come again and people can prepare for the coming. But we know that the price will not always be like that and sometimes, the price can increase higher without we can prepare. But I am positive to see the price will reach $100,000 for the rest of this year or next year.

[slaman29]

There is always manipulation (like what we had in the past couple of months) during big bull runs and the bigger the manipulation the stronger the signal for the next big leg up. It is also a way to get the market ready for the bigger rise. Imagine if price reached $150k in April right after it reached $60k, that would have been a bubble. But now that the correction and manipulation and the reverse bubble occurred the market is ready to reach $150k in August and $300k by December and $500k by first quarter next year.

Yeah, I would assume people would stop being so mad about manipulation. It works both ways and if we enjoy the moving up as a result from manipulation, it goes to assume we should also expect a moving down afterwards.

You're right about the bubble that we should be glad didn't happen. 150k in august sounds pretty crazy but I guess that's not impossible.

[rahmatrf331]

Cryptocurrency market always moves on a cyclic pattern. So, a drop is a indication for the people to invest. The recovery of bitcoin has now happened. People who sold at the right time on the peak will be now enjoying the profit through the buyback at the bottom.

When the price of bitcoin marked it ATH above $60k there were more price predictions of bitcoin price reaching $100k and more at the earliest. Soon the market dropped as a result of some negative news and once again it is bouncing.

The current bitcoin cycle has had a significant impact on the growth of other altcoins. I see the correlation is very closely related to pumping some other altcoins after bitcoin broke $42,000. a lot of bitcoin prices are predicted to break through $100,000 in the fourth quarter of this year, let's see and observe future growth.

[JohnBitCo]

There is always manipulation (like what we had in the past couple of months) during big bull runs and the bigger the manipulation the stronger the signal for the next big leg up. It is also a way to get the market ready for the bigger rise. Imagine if price reached $150k in April right after it reached $60k, that would have been a bubble. But now that the correction and manipulation and the reverse bubble occurred the market is ready to reach $150k in August and $300k by December and $500k by first quarter next year.

It's too early to suggest figures like 150k by the end of August. I personally do not know what could be the possible target of this bull season. To keep it simple I analyzed the market on day by day basis or week by week basis and do not recommend to give targets after 3 months or for 6 months because no one actually knows what could be the price of Bitcoin in this time duration.

[magneto]

Easy to say in hindsight.

But fact of the matter is that before it happened, or ex ante, no one could have told that this wasn't a bearish move.

This is why TA doesn't work. You could look for patterns all you want, but at the end of the day, how do you recognise whether or not a particular pattern is legitimate or actually noise in the larger picture? It simply doesn't work out that way. Markets are virtually random distributions of outcomes.

[RealMalatesta]

Easy to say in hindsight.

But fact of the matter is that before it happened, or ex ante, no one could have told that this wasn't a bearish move.

This is why TA doesn't work. You could look for patterns all you want, but at the end of the day, how do you recognise whether or not a particular pattern is legitimate or actually noise in the larger picture? It simply doesn't work out that way. Markets are virtually random distributions of outcomes.

Basically just look at the price and see it dropping, if it is dropping then it means it will go up. I know that may sound weird to some people, but going down can be only reversed to going up, sure it could keep going down, but that doesn't change the fact that it will eventually go up.

We saw the price going down, and we realized that it could be back to 60k one day, that "one day" could be any day, it could be tomorrow or it could be 2022 or even later, but it WILL happen one day. That is why we started to buy as much as we can, since making 2x profit is a great deal, if I do it in a year then I made 100% profit in a year, if I do it in 2 years that is 50% a year which is still good, if I do it in 3 years that is 33% which is still quite awesome, even in 4 years that is 25% and very nice. So, long story short we are talking about something that is quite easy to guess why we bought.