Bitcoin going to $53k or down to $48k? (Bullish Scenario)

[Kemarit]

Well, even then it could be that bitcoin has just finished its wave 1 and will be on the way to its wave 2 where we will find bitcoin at $48k again.

Spot on prediction, this is what actually happened in the last 24 hours. Wave 1 has finished around $52,000 and then it's wave 2 wherein the price goes to $48,000 because of some influence or whales selling at $52,000.

What do you think about bitcoin price predictions?

And now that we are in wave 2, then expect the price to settled down and then we are going to see some sideways pattern again before hitting $50,000 again and then goes to $55,000 in the next two weeks. Still very exciting for traders and long term holders, as this is a golden opportunity to buy.

[Fundamentals Of]

This is just a slow rise for now so there won't be any big jumps anytime soon and similarly there won't be any big drops (such as the $4k dump you suggested) either. If the momentum is built up enough we can see a big jump to over $60k in a very short time otherwise the price will creep to $60k then maybe jump after that.

It is funny and amazing how Bitcoin's price surprises us every now and then. I was thinking $53,000 is a given because the price was only a little more than $200 short and $48,000 is almost $5,000 far. And yet that $4,000 drop which wasn't expected proved not to be a big drop actually but only a small drop as the price nosedived to $43,000. That was almost $10,000 lost from Bitcoin's price in just a matter of hours. Bitcoin's price movements are always interesting.

[btc78]

Looks like what happened is the opposite side way , when we are all expecting the up trend yet fall happens and i must admit being frustrated by not selling yesterday when the price is still on top .

But there is a thread created about this dump is just a preparation for the following increase and bull run.

[NeuroticFish]

Bitcoin is rallying today because of the EL Salvador news which is that it becomes legal tender today. This was known for months but the President announced for some weird reason that they bought 200 BTC recently (200 BTC prior to this) and most likely will be buying more.

Technically this can not be true because of how "news" works. If a positive news is to affect bitcoin price, it affects it right away as the news itself comes out. Same with negative news. So when a couple of weeks ago they said El Salvador is going to adopt bitcoin as legal tender, it affected the market then and there. Today there is nothing left, and the news is already considered old.

Imho it was not "nothing left". People around the world were buying Bitcoin for this event. Bitcoin and El Salvador were trending. People's expectations were very high, especially after one week of quite fast price rise.
And I think that this was the catch: somebody may have been playing with people's expectations. Somebody found this event very good for exploiting and decided to go for the pocket money of the trader wannabes.

[onecall123]

Looks like what happened is the opposite side way , when we are all expecting the up trend yet fall happens and i must admit being frustrated by not selling yesterday when the price is still on top .

Being frustrated and then panic selling won't help, unless you are looking for a quick profits. You may have bought back into your plan, but there is no guarantee the market will always carry it out. Wtf is happening right now! Whales are taking out stop losses, and this is normal. It would be great if more people understood this!

But there is a thread created about this dump is just a preparation for the following increase and bull run.

Would you please let me know where the Bottom is so that I can buy more when we get there. A good purchasing opportunity is coming up.

[FatFork]

So this is the main reason for yesterday's dump?


source: https://twitter.com/coinbase/status/1435448395091615747

It's interesting that the market reacted hours before the news had even been published. Was it a coincidence? Or were there some insider traders at work?

[el kaka22]

So this is the main reason for yesterday's dump?


source: https://twitter.com/coinbase/status/1435448395091615747

It's interesting that the market reacted hours before the news had even been published. Was it a coincidence? Or were there some insider traders at work?

I do not think that it would be the reason for it, just because coinbase doesn't have a coinbase lend section doesn't mean that it would have to be cause for a big sale. That would require many people to end up buying just because they believed coinbase lend would make bitcoin go up a lot more, and as we all know that wasn't the case. People did not buy because they believed that coinbase lend would be the reason it would go up, and that means we should not be upset over that not happening neither.

I would say even ADA smart contract deal being ruined with scalability issue is a bigger reason, at least that is about crypto and not like some low cap gem neither, it was third ranked coin promising something and failing. It could be a big reason why we are here right now. Obviously speaking we need to keep going for a while longer to see what will happen, but I believe that wasn't the case.

[BITCOIN4X]

So this is the main reason for yesterday's dump?
https://i.imgur.com/VUxtYCG.png
source: https://twitter.com/coinbase/status/1435448395091615747

It's interesting that the market reacted hours before the news had even been published. Was it a coincidence? Or were there some insider traders at work?

That probably won't be the main reason although traders can interpret it as the reason behind yesterday's dump in bitcoin price. The commotion in El Salvador and negative sentiment have been exploited by the whale to dump bitcoin. I don't know what the exact reason is, but it looks like the whales will be responsible for this dump. After all, no force could have brought dump the price of bitcoin so quickly if it weren't for the whales.

[Ibrahim60]

Bitcoin price is now so much volatile. Bitcoin price is now $45.5k. In cryptocurrency no one can surely predict on them. But by doing some research about the market and the price increasing, decreasing chart some expert people can predict. And most of the time their prediction may come true. By seeing the past 2/3 months price chart we can say it easily that Bitcoin price will increase and it will hit $48k soon and can hit $50k+.

[Fundamentals Of]

Bitcoin price is now so much volatile. Bitcoin price is now $45.5k. In cryptocurrency no one can surely predict on them. But by doing some research about the market and the price increasing, decreasing chart some expert people can predict. And most of the time their prediction may come true. By seeing the past 2/3 months price chart we can say it easily that Bitcoin price will increase and it will hit $48k soon and can hit $50k+.

The volatility is increasing. It is safer not to play with the price for now. In times like these I would rather just hodl and wait for the better days to come. The risk of trading Bitcoin short term is high but it is significantly lowered to the minimum if you are looking at the long term.

We certainly cannot predict Bitcoin's price tomorrow or the day after it but we are almost assured that years from now the price is definitely higher than today.

[LUCKMCFLY]

The price of BTC has been giving a great correction, approximately more than 12%, this is something that everyone has had a hard time assimilating, but the BTC market is like this, we cannot rule out if it was just a bullish trap:

. The fall has been supported by a rising trading volume, which means that sellers may have fixed their short positions. In this case, one can expect a retest of the vital zone around $50,000 by the end of the week.

Source: https://u.today/btc-eth-and-xrp-price-analysis-for-september-8-0

The volatility of the BTC market is an ingredient that we always have to deal with, even to give bullish movements like bearish, some at the time managed to obtain profits, for me what happened is that they were testing the price level and the offer was too much, for that reason it went down.

[fortunecrypto]

The volatility is increasing. It is safer not to play with the price for now. In times like these I would rather just hodl and wait for the better days to come. The risk of trading Bitcoin short term is high but it is significantly lowered to the minimum if you are looking at the long term.

We certainly cannot predict Bitcoin's price tomorrow or the day after it but we are almost assured that years from now the price is definitely higher than today.

We are in pandemic times and this is the hardest time to HODL Bitcoin because of this pandemic I have to sell half of my share to sustain my livelihood, my country is one of the hardest, I'm trying to keep the remaining shares because with all the prediction I just knew Bitcoin will reach 6 digits maybe not this year but definitely next year.

[Wawa2013]

The volatility is increasing. It is safer not to play with the price for now. In times like these I would rather just hodl and wait for the better days to come. The risk of trading Bitcoin short term is high but it is significantly lowered to the minimum if you are looking at the long term.

We certainly cannot predict Bitcoin's price tomorrow or the day after it but we are almost assured that years from now the price is definitely higher than today.

We are in pandemic times and this is the hardest time to HODL Bitcoin because of this pandemic I have to sell half of my share to sustain my livelihood, my country is one of the hardest, I'm trying to keep the remaining shares because with all the prediction I just knew Bitcoin will reach 6 digits maybe not this year but definitely next year.

The pandemic has indeed made most people experience an economic crisis, so it is not easy to consistently hold the Bitcoin that we have.
Sometimes there is often a sudden urgent need, which eventually makes us forced to sell the Bitcoin that we have partially. There is nothing
wrong with doing that, because there are priorities in our lives. Instead of forcing holding Bitcoin, but their daily needs are not met. If one day
we have extra money, we can buy Bitcoin again. So no need to worry, we definitely have another chance to be able to buy Bitcoin. Moreover,
the price of Bitcoin is volatile, so there is always a moment when the price of Bitcoin is correcting, that's our chance to buy Bitcoin. As of now
the price of Bitcoin has dropped to $46k, but I believe this is only temporary, Bitcoin will recover soon.

[LogitechMouse]

Bitcoin price dropped down from $52.8k to $43k in only approximately half an hour as far as I remember. It was really shocking for me. I didn't even witness the decrease live as it happened in a very short time period. I must admit that this is really huge and it made me scared. They say that the reason could be that miners sold a lot of coins. But I don't know whether this would affect the market this serious. Still, I hope to see another recovery from the price. But it might take some time seemingly.

Its shocking for you? I think that you are in this for a short amount of time then .
There is no shocking on what happened yesterday and in fact, there are some worse drops than that.

Well, we saw those weak hands sold their holdings just because of one news coming from China. That is how influential that country is. They are very influential to the fact that they can manipulate the market just by saying bad things that is related to crypto. Right now, Bitcoin has a short recovery after the crash and not only Bitcoin but other coins as well. It is a good sign that the buyers really still want to buy Bitcoin even though it went up high already compare to where it was months ago when it is at $30,000.

[sarmrakib]

Bitcoin price is now so much volatile. Bitcoin price is now $45.5k. In cryptocurrency no one can surely predict on them. But by doing some research about the market and the price increasing, decreasing chart some expert people can predict. And most of the time their prediction may come true. By seeing the past 2/3 months price chart we can say it easily that Bitcoin price will increase and it will hit $48k soon and can hit $50k+.

Its a common behave of the market that it will fluctuate in every candle .We can research and analyse the market to get the right momentum and the trend as well .However recently we have seen a big red candle which actually pull down to the 45k$ level may be there was some negative news that's why it has behaved like this .The market is gradually starting to recover and hopefully we will see a strong uptrend .

[Kong Hey Pakboy]

Bitcoin price is now so much volatile. Bitcoin price is now $45.5k. In cryptocurrency no one can surely predict on them. But by doing some research about the market and the price increasing, decreasing chart some expert people can predict. And most of the time their prediction may come true. By seeing the past 2/3 months price chart we can say it easily that Bitcoin price will increase and it will hit $48k soon and can hit $50k+.

That's what's make bitcoin attractive, it's volatile and the market could let you down anytime. I think you have pretty conservative estimate, I think bitcoin will go up more than just that because if the patterns follow, we might see bitcoin go up to more than just 50k.

[conected]

Bitcoin price is now so much volatile. Bitcoin price is now $45.5k. In cryptocurrency no one can surely predict on them. But by doing some research about the market and the price increasing, decreasing chart some expert people can predict. And most of the time their prediction may come true. By seeing the past 2/3 months price chart we can say it easily that Bitcoin price will increase and it will hit $48k soon and can hit $50k+.

- And also by the charts and the ease with which you speak, these days we have been defeated, experts are sometimes just a little more stubborn than the average person, but with a few tricks to fake what they can read, the experts are sheep and become a propaganda effect so that others also become stray sheep. The sheep stray into the endless gloomy forest but everyone thinks this is a garden in the clouds and a wishful lawn, quite funny, basically we don't know the script and the author can also overturn last minute hope

[zanezane]

It's probably as you've said, a bullish scenario. Bitcoin always go through some up and downs in the past and from most of the things that are happening, bitcoin goes down for awhile before it goes so high.

[Fundamentals Of]

The volatility is increasing. It is safer not to play with the price for now. In times like these I would rather just hodl and wait for the better days to come. The risk of trading Bitcoin short term is high but it is significantly lowered to the minimum if you are looking at the long term.

We certainly cannot predict Bitcoin's price tomorrow or the day after it but we are almost assured that years from now the price is definitely higher than today.

We are in pandemic times and this is the hardest time to HODL Bitcoin because of this pandemic I have to sell half of my share to sustain my livelihood, my country is one of the hardest, I'm trying to keep the remaining shares because with all the prediction I just knew Bitcoin will reach 6 digits maybe not this year but definitely next year.

I understand your situation of course. These are difficult times. Jobs are lost, businesses are down, shops and stores are closed, etc. It is completely all right to let go of some of our precious Bitcoin to support our needs. At the end of the day we are stacking Bitcoin so that we have something to use when the day comes. We are not hodling for the sake of hodling. We are hodling for our dear life. Perhaps now is one of those rainy days when Bitcoin could help us a lot. Better days will come soon for sure.

[Kemarit]

The volatility is increasing. It is safer not to play with the price for now. In times like these I would rather just hodl and wait for the better days to come. The risk of trading Bitcoin short term is high but it is significantly lowered to the minimum if you are looking at the long term.

We certainly cannot predict Bitcoin's price tomorrow or the day after it but we are almost assured that years from now the price is definitely higher than today.

We are in pandemic times and this is the hardest time to HODL Bitcoin because of this pandemic I have to sell half of my share to sustain my livelihood, my country is one of the hardest, I'm trying to keep the remaining shares because with all the prediction I just knew Bitcoin will reach 6 digits maybe not this year but definitely next year.

I understand your situation of course. These are difficult times. Jobs are lost, businesses are down, shops and stores are closed, etc. It is completely all right to let go of some of our precious Bitcoin to support our needs. At the end of the day we are stacking Bitcoin so that we have something to use when the day comes. We are not hodling for the sake of hodling. We are hodling for our dear life. Perhaps now is one of those rainy days when Bitcoin could help us a lot. Better days will come soon for sure.

To each his own I guess, of course we really need to take care of ourselves, bring food in the table for our family. But if you have financially plan your self ahead of crypto investments, I doubt that you will have to touch your bitcoin savings because of the pandemic. I'm not saying that I'm good at financial planning, but I'm talking about my experience of being a Bitcoin holder for many years. For the scenario, we are still in the $46,000 give and take, but everything still looks good for us in the last couple of months before the end of the year.