Will Bitcoin Price Enter the $30k Area?

[mattujusuruga]

Bitcoin is close to the current $40k support area. seeing that the pressure has continued since the beginning of this year, it is likely that bitcoin prices will continue to be depressed for the next few weeks and enter the $30K area.

Maybe bitcoin will enter the $30K support area because if Bitcoin continues to be depressed beyond that level, Bitcoin is likely to experience a fairly long winter.

[jackg]

I'd check what's happened before if you think this'll go on for long...

There was a third pull back in 2017 that was met with the start of an exponential run off which could always happen again...

I don't think the low 30s are that reachable though.

[mk4]

I wouldn't bet huge money on it but I wouldn't be surprised if it happened either. What I did was I just slowly but surely de-risked a bit in the past few months; just so I have enough fiat to live happily and comfortably for like 2 years. If we do go lights out from here then I'm definitely going to lack a lot of "dip-buying" power.

Also, I wouldn't say below 30k = long winter though. We're probably going to have winter, but probably not as long as people expect which is like 2-3 years based on history. I really liked the fact that we didn't have an over-exaggerated blowoff top like in December 2017.

[TravelMug]

It's weird that people are calling $30k now, Lol, in any case, why not though? it is possible that we are going to hit if the downward pressure will be there. Maybe short term we will go that low, but if you look at long term, maybe we will have a good bounce, maybe right before the 1st quarter end, we will be back above $50k, just saying. So no need to panic if we see $30k-$39k at the start of the year. It might not be a full blown crypto winter, just retesting lower lows but we will bounce back for sure.

[Finestream]

It's weird that people are calling $30k now, Lol, in any case, why not though? it is possible that we are going to hit if the downward pressure will be there. Maybe short term we will go that low, but if you look at long term, maybe we will have a good bounce, maybe right before the 1st quarter end, we will be back above $50k, just saying. So no need to panic if we see $30k-$39k at the start of the year. It might not be a full blown crypto winter, just retesting lower lows but we will bounce back for sure.

I would not be surprise if we reach that $30k support level since bitcoin is definitely very bearish right now and if there will be negative news that will add on the pressure, the price will always fall down consistently. But of course, this present downward trend is just temporary. Bitcoin is always volatile so we can also expect that after couple of days or months, bitcoin will start to recover and surge high again. Although the market price is very negative at the moment, but if we can make this current condition of the market into our advantage, then we won't be a loser but certainly a gainer in the end.

[stompix]

Hihi, I love how some poeple talk calmly and post TA for 30k, like, well you know, it could happen but just a while ago, anyone would have said that would have been ridiculed and called every bad word in the urban dictionary.

So, what did really change between December let's say, and now to make a 30k price possible? Why was the thought of 30k ridiculous and now it's fairly possible? Because of a fake scare in Kazakhstan, because of the rumors of a FED  rate hike of what, 0.25%-0.5%? That's why we have a 10% drop in a week and an 18% one in 30 days? Common, this is just silly, why 30k and not 20k for example, why not even 10k if we're going down, let's just do it, lol! There is no basis for any of those movements, just like looking at the picture now, there would be no basis for a jump back to 60k, right, what would be needed for that at this point to truly reflect market conditions?

I would understand if somebody would call 68k am overpriced peak that was driven by speculation and FOMO, but a return to prices under January 2021 makes really no sense at all.

[BitcoinBarrel]

Short answer: Yes

[ajochems]

Hihi, I love how some poeple talk calmly and post TA for 30k, like, well you know, it could happen but just a while ago, anyone would have said that would have been ridiculed and called every bad word in the urban dictionary.

So, what did really change between December let's say, and now to make a 30k price possible? Why was the thought of 30k ridiculous and now it's fairly possible? Because of a fake scare in Kazakhstan, because of the rumors of a FED  rate hike of what, 0.25%-0.5%? That's why we have a 10% drop in a week and an 18% one in 30 days? Common, this is just silly, why 30k and not 20k for example, why not even 10k if we're going down, let's just do it, lol! There is no basis for any of those movements, just like looking at the picture now, there would be no basis for a jump back to 60k, right, what would be needed for that at this point to truly reflect market conditions?

I would understand if somebody would call 68k am overpriced peak that was driven by speculation and FOMO, but a return to prices under January 2021 makes really no sense at all.

Most expected one among the huge people. Because many holding their money in dollars to inverse and get profit from it. The investment also look like gambling. But the investigation is difference between the investment and the gambling. Investigation is key to get the wrong and right of the trading profit.

[sunsilk]

Everything is possible.

But the problem is with those who bought at the peak, they're problematic about the current price of bitcoin. Normally, holders won't see it as a problem even it goes down to $30k.

As it goes down near to $40k as its support, you have to think of any possible thing that may happen for it. Remember, bitcoin is volatile and it can go as high as it can and go low unexpectedly.

[DeathAngel]

There should be solid buy interest at anything around $40,000 so I hope we don’t see the $30,000’s again. If we do dip below $40,000 then hopefully it is very briefly & we can have a relief rally. It feels incredibly cheap at the moment, I don’t expect much lower than the current prices.

[redwine49]

Short answer: Yes

Short answer : YES and NO

There should be solid buy interest at anything around $40,000 so I hope we don’t see the $30,000’s again. If we do dip below $40,000 then hopefully it is very briefly & we can have a relief rally. It feels incredibly cheap at the moment, I don’t expect much lower than the current prices.

how could you say "cheap". we already seen many bull & bear history in bitcoin market.
from last bitcoin bubble, bitcoin rally up to 20k$ and back to 3k$.
at this moment we are still 40k$ area from ATH at 60k+$.

this is just a normal correction guys. don't panic

[pooya87]

It is not possible to say because we know that there is no reason for price to go any lower than this, in fact this is already unreasonably low so there is no more room left for any more drops. But at the same time the market manipulators and panic sellers are hard at work trying to push the price lower by spending millions of dollars worth of bitcoin (dumping).

this is just a normal correction guys. don't panic

There is no reason to panic but also nothing about this is normal.

[michellee]

If people lose their trust to hold bitcoin and fear seeing their investment value still go down, they will sell it right away. People will do that, and those who do not have a strong hand holding bitcoin will also do that because they panic seeing the price is down. Although they know that it is just temporary, they are still afraid and worry and in the end, they will not want to see how long they can still hold their bitcoin.

[btc78]

Bitcoin is close to the current $40k support area. seeing that the pressure has continued since the beginning of this year, it is likely that bitcoin prices will continue to be depressed for the next few weeks and enter the $30K area.

Maybe bitcoin will enter the $30K support area because if Bitcoin continues to be depressed beyond that level, Bitcoin is likely to experience a fairly long winter.

have not you expected this to happen ? 2021 is a very generous year for bitcoin giving the coins multiple All Time High , almost every quarter there
is a record of high value so this year consider as a correction year.
if you will check what had happen after the bullrun of december 2017 , the following years are bearish like 2018 and almost the whole 2019.

I am ready for this to happen as i have full out my coins to be re invested in dumping season and will wait for another halving season to keep the holding,.

[Beparanf]

There's a chance that Bitcoin will go again on that area since Bitcoin is currently trading right now on the last support it reach again that 30K level again. It's already a 50/50 chance to hit that level especially today weekends and most of the sell off often happened during this time. The timing of the dump is very in line with the date so I believe might see a one more wick candle below 40K then we can go straight up again

[LogitechMouse]

It went down to near the $40,000 price range and it seems like it is acting as a psychological support as of now short term because it bounced back a bit and not sitting at $42,000.
Though Bitcoin going to $30,000 is possible, the chances of it to happen right now is still low "unless" we go below $40,000 and stay below for quite some time.

I would not be surprised though if Bitcoin will hit $30,000 and I will accumulate more if that happens. Its a discount sale for some intelligent investors out there. The best thing to do right now is to wait what will happen. You can buy right now or you can wait for further downward movement. Just be ready though .

[Mpamaegbu]

OP, that won't be impossible considering that a convincing break on the Daily close below where you marked the support is much likely to pull Bitcoin into a range that stretched between $30,718 and $41k. Your chart is similar to this picture I shared which was part of a post I made here sometime in September 2021. Specifically, it was made on September 22 (in case anyone wants to peruse that comment of mine on it. $30k is a strong support supposing it breaks through $40k. And if it breaks $30,000 convincingly then we are likely getting more dips.

[buwaytress]

I am with jackg on his initial response. Not with very much conviction, but because I note with a certain degree of hesitancy to go down the road with bears just so soon. The last ATH was still pretty underwhelming for me, building up only several thousand on the previous, so I feel like serious bulls are also keen to see a determined Pullback before putting chips back on the table.

And, also, the 40k bounce could coincide.

[Wexnident]

I'm highly doubtful of it happening but it isn't completely out of the picture, it's just that it's actually unlikely considering what has happened in the past year. A good possible bounceback could start a pretty good run off towards a new ATH right now, and honestly, if we consider the entire 2021, we're still pretty bullish. It's just that the peak came early on instead of a steady movement of gradual price increase, hence why we're feeling the dips right now.

[Zilon]

Bitcoin continues to decline for now all I can say about Bitcoin price is that it's more difficult to predict the next move but if it eventually hits $30k support zone I won't be in anyway surprised. All I should be more concerned about now is how to gather more capital to take good advantage of the dip because it would be sad to miss out on this opportunity