Is $48k the next Bitcoin benchmark?

[jostorres]

The general cryptocurrency market has been exciting, with Bitcoin gaining an all-time high of $46k since may 2021 in April Bitcoin made an all-time high of above $65k before correcting down to below $30k in mid-April.
Will $48k Bitcoin price be achievable this week?

I am not seeing any particular reason for bitcoin to be stuck around $48k levels even by considering the potential stronger resistance levels around $50k levels. It may break $50k levels tonight then it may trade for next week fully in the range of $53k to $58k levels. The concerns of world economic and political situations may decide when bitcoin to reach $60k and then a new ATH. In between these $48k levels or anything similar to that may get passed at any time.

Corrections will always occur and this tests our patience, as long as we don't really need money then always hold is better

But, it is always suggested to invest into bitcoin or any other such high volatile investment opportunities, only what we can afford to lose. Hence, you must invest with the plan of long term holding. When you are unable to hold for the reason of needing money for your life's basic requirements then you may go for cashing out some small percentage and not fully.

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[Oasisman]

I think the odds are very high to hit $48k next week, and for this week I think $47k+ is the highest.
The benchmark at $48k will be the next sign while it continues to be on an upward trend in its price movement.
We are free to express some predictions and keep a sense of confidence in it, although in fact cannot be certain what will happen, which clearly is that the market will still continue to prove in a high trend.

Bitcoin just touched the $48,000 level yesterday, and then went right back to $47k-$46k.
The upward momentum seems to be continuing next week though Bitcoin and other major alts are experiencing short pullbacks, but the market sentiments seems very positive.
I as well is positive for Bitcoin to hit the $50,000 strong resistance, maybe next week or the coming week before August ends.

[Luqman]

I as well is positive for Bitcoin to hit the $50,000 strong resistance, maybe next week or the coming week before August ends.

I agree, it is likely Bitcoin price to go up to $50k easily in the next week. On Aug 14, the Bitcoin price can reach $48,098. It is quite fast because Bitcoin price was only around $44k in the early of the week. If the scheme is the same, Bitcoin can pass $51k in the next week since the current price is about $47k. I bet the possible highest price of Bitcoin in the next week to be around $51k-$52k.


Check the data: https://coinmarketcap.com/currencies/bitcoin/historical-data/

[boltz]

I would say we need to test the 50k resistance first and if we break that , we can sky rocket to 55k in a matter of a couple of days as the trend of bitcoin is still going up even if we had the first major correction. Personally I can still see Bitcoin over 80k$ in winter but we all speculate and in the end Bitcoin does what he wants.

[Fredomago]

I think the odds are very high to hit $48k next week, and for this week I think $47k+ is the highest.
The benchmark at $48k will be the next sign while it continues to be on an upward trend in its price movement.
We are free to express some predictions and keep a sense of confidence in it, although in fact cannot be certain what will happen, which clearly is that the market will still continue to prove in a high trend.

I'm not basing on the odds, but the fundamentals of bitcoin is very strong that's why for me $48k will be broken eventually, regardless if it's next week or at the end of the month.

We already have signs along the way, like when we hit $28k and then rebounded to $40k. But $50k will be huge, if we manage to breach it again, then in the next coming months there is a big chance that we will touch a new all time high and then the upswing will continue to $100k.

The time frame isn't ours to dictate. There are many influences that may take place before breaking this new resistance and afterwards it will fly high and bring that new high inside the market.

For now, every steps counts and every good news brings notice to newcomers and new investors to bring more money and try also their luck with this investment venue.

all holders count and with this current trends it's really a true one will maximize all the profits and continue to hold.

[bakasabo]

Dont forget that since July 20 the only thing Bitcoin does is growing. There were a slight correction in the first dates of August, and I think that a new one will be any time soon. Last time we observer such growth, it was stimulated with several "wow" announcements. This time we are simply growing. I think that we first need to face a correction (as cryptocurrency market is rather overheated right now), and only them we can try to reach $48-50k levels.

[michellee]

I would say we need to test the 50k resistance first and if we break that , we can sky rocket to 55k in a matter of a couple of days as the trend of bitcoin is still going up even if we had the first major correction. Personally I can still see Bitcoin over 80k$ in winter but we all speculate and in the end Bitcoin does what he wants.

Hopefully, this week can give bitcoin back to $50k. Otherwise, we need to have more patience by waiting for the bitcoin price to start increase again. Yes, I also see the chance of the bitcoin price to increase more than $64k this year, but going to that price will still be unknown and we can only guess without knowing when that can happen. Meanwhile, we can try to prepare ourselves by having more bitcoins so when the time comes, we can sell some amount that can give us a big profit.

[leea-1334]

Bitcoin just touched the $48,000 level yesterday, and then went right back to $47k-$46k.
The upward momentum seems to be continuing next week though Bitcoin and other major alts are experiencing short pullbacks, but the market sentiments seems very positive.
I as well is positive for Bitcoin to hit the $50,000 strong resistance, maybe next week or the coming week before August ends.

Not really very much of a point to compare from day to day,,, as in a few hours things can change quickly especially when we approach and exit from the weekend, as we have now observed every Friday/Monday in August:)

But what is for certain is higher highs. Even after dropping below 46k yesterday there was a bounce that is now looking like it will test 48k again!

[BigBos]

lots of speculation about this. however, it looks like a bear market may pose a tough resistance challenge for the price $46k to $48k range. however, I'm still quite optimistic to see the price this week. in fact, if the market bulls again, I think we could see a price of $50k, or more.

[STT]

Its hitting the weekly average on the lows recently which means the price points will collide at some point and in theory we get a resolution upwards or downwards.



I'd expect us to check back at 42k or so to get a proper solid foothold with some volume but BTC can just drift higher sometimes and I tend to be too negative in comparison to that frequent positive action.

[Wawa2013]

Our next benchmark will be more than stated price, and on recent price outbreaks we already surpassed $45k - $46k.
If we think of more potential value, I guess we will be going upward and seeing $50k this coming week is really possible.
As the trend goes controversial, people's desire was really heating up to take their gains that's why slight downturn also happened.

This week the performance of Bitcoin has been extraordinary, just imagine Bitcoin convincingly now at a price of $ 47k. This is a very good increase,
it is possible that next week Bitcoin is very likely to rise above the price of $50k. If this is true, it will provoke FOMO and finally we can return to
the ATH price of $60k again. So don't be in a hurry to take profit now, except for people who do day trading, the volatile Bitcoin price can be used
to generate profits.

Yeah, but the OP's benchmark seems to be a very hard to crack at this point, $48,000.

So that's likely the next target, I think FOMO will sets in once we reach $50,000 as this is a big psychological barrier, a usual whole numbers that when we reach, speculators, traders and investors will likely jump again and then wait for a $60,000 or at least a new all time high. Of course, we don't need to hurry, but it's good to take profit some time specially if you needed cash, IMHO.

You are absolutely right that it is not easy for Bitcoin to reach the price of $48k, even now the price of Bitcoin is back down to the price of $46k.
Good news is needed to trigger the Bitcoin price to rise again, hopefully in the near future there will be good news related to Bitcoin. At least Bitcoin
can reach the price of $48k first and finally can continue to rise to the next target. Psychologically I agree if Bitcoin manages to hit $50k, this can
trigger FOMO and eventually the Bitcoin price can return to the ATH price. It takes patience investing in Bitcoin, if not we could be stressed
by the volatile Bitcoin price.

[DatKing]

Bitcoin price went over the $48k resistance level also but it didn't last long. In the last 24 hours, it tried again but failed to do so. If this level is reached again, I think the next stop for Bitcoin will be $50k. But I'm having my doubts about whether it can reach the level on this week. If the price continues to struggle to break the current resistance level, it seems unlikely.

[TravelMug]

Bitcoin price went over the $48k resistance level also but it didn't last long. In the last 24 hours, it tried again but failed to do so. If this level is reached again, I think the next stop for Bitcoin will be $50k. But I'm having my doubts about whether it can reach the level on this week. If the price continues to struggle to break the current resistance level, it seems unlikely.

The highest price I see is $47,998.10, so that's close to $48k for me. Obviously, it didn't sustain that run, indicating that is is really a big psychological for most of us traders. But I do agree that if we break it $50k will be like a butter, it will be slice very easily.

No need to doubt if it's going to be reach this week or the next week. The most important thing is that we are sort of in the bullish sentiments, current price is $46k. So we will have to wait for that break out run this month so that we can reach $50k then.

[rahmatrf331]

If I would remain too positive for this current btc level, I must say we're alread at that potential state of btc. Benchmark of price has many good points to consider, and after this $48k there's another speculations that's going to be projected which is $50k, $55k and even $60k as long as market keeps going.

it turns out that the market is a little in the opposite direction from the speculation we made, bitcoin is now a little weak after being too tired to pump a few days ago. looks like bitcoin needs a bit of a vitamin so that in the future it can break through back to its $48,000 target. yesterday I was very excited when the price of bitcoin broke through $47,000 almost close to $48,000, but now bitcoin is fluctuating again and is at $45,405 today.

[leea-1334]

it turns out that the market is a little in the opposite direction from the speculation we made, bitcoin is now a little weak after being too tired to pump a few days ago. looks like bitcoin needs a bit of a vitamin so that in the future it can break through back to its $48,000 target. yesterday I was very excited when the price of bitcoin broke through $47,000 almost close to $48,000, but now bitcoin is fluctuating again and is at $45,405 today.

I do not think it is anything about weakness or getting tired,,, it has been doing this slow pump for many days and weeks now, meaning it is just building steam patiently. The bears are the impatient ones trying to prevent 50k so they are doing their best but it will not be enough looking at this rate!

[tokeweed]

^  29k to 48k in less than a month isn’t a slow pump.  Lol.  And that rahmat guy was right.  It’s really looking like BTC and most altcoins are starting to lose some steam after the run up.  I’m not saying it’s over or anything but the market does need to correct at some point and find new support.

[Luqman]

The most important thing is that we are sort of in the bullish sentiments, current price is $46k. So we will have to wait for that break out run this month so that we can reach $50k then.

You are correct if we are still in bullish sentiments. But Bitcoin price won't increase every day, there should be a correction and sideways. If we look at the progress of Bitcoin price move lately, the pump series should be stopped for a moment first to balance the market situation. Bitcoin price is below $45k now, it seems to continue. Maybe in 2-3 days, we will experience a correction or a sideways before the next target $50k.

[ivankoh]

Bitcoin is still in an uptrend, 29k (July 20) and almost a month bullish to 48k7 that is a supported norm, but needs a further correction to create solid market sentiment  than.  My prediction is that the downside correction will stop at $43k at 8/20 and continue bullish above $50k.  That's about perfect support and we'll see it. I believe the benchmark for August is seeing > 50k

[TravelMug]

The most important thing is that we are sort of in the bullish sentiments, current price is $46k. So we will have to wait for that break out run this month so that we can reach $50k then.

You are correct if we are still in bullish sentiments. But Bitcoin price won't increase every day, there should be a correction and sideways. If we look at the progress of Bitcoin price move lately, the pump series should be stopped for a moment first to balance the market situation. Bitcoin price is below $45k now, it seems to continue. Maybe in 2-3 days, we will experience a correction or a sideways before the next target $50k.

Correction incoming right now, the price seems to go down to $45k as of the moment. A 3% minor dip in the last 24 hours. And I would say that this is a healthy correction in my opinion. We have been trying to break $48k at least in three tries, but unfortunately, it was a failure. The good that this correction can do is to make more investors to enter at this dip and take advantage of it. Because maybe in the next try, we might actually breach $48k and goes even higher -> $50k.

[leea-1334]

^  29k to 48k in less than a month isn’t a slow pump.  Lol.  And that rahmat guy was right.  It’s really looking like BTC and most altcoins are starting to lose some steam after the run up.  I’m not saying it’s over or anything but the market does need to correct at some point and find new support.

It is still only less than 20k a day on average means 1k a day, which is only about 2-3% a day,,, relatively to the Bitcoin pumps since October, or the Dogecoin pumps or whatever alt you want to use, this is quite slow:)

I do not mean slow in relation to "normal" markets of course but in crypto when I say pump I think of doubledigit figure rises in a day or stuff:) But you are right anyway.