[POLL] Will Bitcoin dip below $40K?

[Fundamentals Of]

So at least the 24-hour limit has passed without the price of Bitcoin dipping below $40,000. Bitcoin is holding on tight to $40,000. It seems it is a pretty strong support. I don't know how low could the price of Bitcoin get if the $40,000 support is shattered. There is enough reason to believe that there will be many times from now that Bitcoin will once again retest the strength of this support. I hope it will stand strong until the recovery finally happens.

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[Wexnident]

The thread was created 2 days ago and it said, Bitcoin will go down after 24 hours but yet, it didn't happen.

Sad to say most of them voted yes, it seems they don't have faith in Bitcoin price that will spike this month presumably.
I voted NO, even though we know that the price is unpredictable but I don't see any sign that Bitcoin will go down and consider a dip situation.  I have a fundamental analysis and it seems it's a positive one and I think Bitcoin price within this month will resist and create a short bull run.

Well, it did go pretty close to $40k, luckily it didn't continue down and went back up by a bit. Still though seeing the current state, it isn't that odd why most people are expecting the price to go below $40k, the general trend recently has been quite bearish after all. I myself am a tad bit bullish but well, that's for the long term. Wouldn't be odd to see the market go below $40k levels, I might turn a bit bearish tho if we ever go below $30k in the short term.

[Kemarit]

So at least the 24-hour limit has passed without the price of Bitcoin dipping below $40,000. Bitcoin is holding on tight to $40,000. It seems it is a pretty strong support. I don't know how low could the price of Bitcoin get if the $40,000 support is shattered. There is enough reason to believe that there will be many times from now that Bitcoin will once again retest the strength of this support. I hope it will stand strong until the recovery finally happens.

Well it's good to see the price holding at $40,000 levels, but for those who voted that it will dip below that price, maybe it's because of the prevailing sentiments. Short term I think the feeling is that the price will go down below $40,000 or at least that is the consensus. So let's see how long this support will hold, if it breaks this week then we have to accept and then buy at that dip. If not, then still good for us, but we should be ready anytime of a price dip, IMHO.

[pooya87]

I'm wondering what the market sentiment is on these boards

Considering that people vote based on their desires not their sentiments you won't ever find the sentiments or be able to predict the market. Basically there are a lot of people who "wish" the price drops more at this point so that is what they are voting for, but that doesn't mean they are going to do anything about it though! For instance none of them would dare short bitcoin even if they assure you on the internet that price is dropping more.

In any case, my opinion is that it is not possible to say at this point. Price is already lower than it should be and as I've aptly named situations like this we are currently in a Reverse Bubble and just like regular bubbles it can grow in size even though it is unnatural.
One thing is guaranteed though: the bubbles always burst.

[adaseb]

Currently looking at the results, it seems that 2x as much people, basically 66% as opposed to 33% think its going to drop below $40K. And if you go to the mining section of bitcointalk, you got miners panicking that ETH is going to break $3K and they will make half of what they made a couple of weeks ago.

All over Twitter people are saying they are going to buy bitcoin at $10K. And even that Peter Schiff Gold guy is saying bitcoin is going to break $40K, then $30K, then $20K, and eventually will go to $1K.

Since so many people are bearish, I think maybe the bottom is in.

[Obito]

So at least the 24-hour limit has passed without the price of Bitcoin dipping below $40,000. Bitcoin is holding on tight to $40,000. It seems it is a pretty strong support. I don't know how low could the price of Bitcoin get if the $40,000 support is shattered. There is enough reason to believe that there will be many times from now that Bitcoin will once again retest the strength of this support. I hope it will stand strong until the recovery finally happens.

We don't know yet but if the pandemic worsens and the US unemployment rate steadily increases, we might see something happen to bitcoin prices. I do hope that it will go up right now after going down and steadying for a long time. I don't know how many bitcoin's I have in store but hopefully I have a lot to get a big profit when the prices starts climbing again. I tried to vote on this with my friend and we did a friendly wager and I won the bet because I know that there's going to be a strong support when bitcoin continues to go down.

[kotajikikox]

Currently looking at the results, it seems that 2x as much people, basically 66% as opposed to 33% think its going to drop below $40K. And if you go to the mining section of bitcointalk, you got miners panicking that ETH is going to break $3K and they will make half of what they made a couple of weeks ago.

EThereum is nearly falling below 3k as we can see that 16% drops for the last 7 days and also not increasing good for the last 24 hours(though there are 1% increase for the 24 hours)

All over Twitter people are saying they are going to buy bitcoin at $10K.

that will never happen again, bitcoin fell down to 4k in 2020 because of covid19 but made an increase more than x15 in the next year so i doubt that 10k will ever be a bottom .

And even that Peter Schiff Gold guy is saying bitcoin is going to break $40K, then $30K, then $20K, and eventually will go to $1K.

then thanks if that will happen because at least believers has a chance to buy more.

Since so many people are bearish, I think maybe the bottom is in.

almost there , lets observe this whole week as this is very critical.

[btc78]

Will Bitcoin dip below $40K? (for at least 24 hours)

Yes or No?

Like majority , I voted for Yes as lowering for 24 hours to below 40k can happen any time now but of course the price is still struggling to climb back to at least 43,000 because multiple time today the value goes 41-42k .

So at least the 24-hour limit has passed without the price of Bitcoin dipping below $40,000. Bitcoin is holding on tight to $40,000. It seems it is a pretty strong support. I don't know how low could the price of Bitcoin get if the $40,000 support is shattered. There is enough reason to believe that there will be many times from now that Bitcoin will once again retest the strength of this support. I hope it will stand strong until the recovery finally happens.

i think what OP asking is will Bitcoin price lowers in below 40k for at least 24 hours , and i think this may come .

[GeorgeJohn]

i believe we will hit below 40k but it will bounce back.

the length Bitcoin is moving downtrend it may not get to exactly the point or angle were people are expecting to reach, the prediction of people, when you look at the chart you get the pre knowledge or understanding that bitcoin still have enough courage to elevate again.

I don’t think $40K is really significant. A better figure would be breaking $30K or at least last years low or breaking $20k which is obviously the old ATH.

that is assumptions, let us believe strongly that latest it will approach 40k and return to normal, but it's out of fear and wrong predictions by Twitter social media influencer that's making people to think bitcoin will go below 40k, really the movement of bitcoin to down value really makes some of the investor to step aside via investment

So at least the 24-hour limit has passed without the price of Bitcoin dipping below $40,000. Bitcoin is holding on tight to $40,000. It seems it is a pretty strong support

it's exactly what we have to know, because many beginner investors today acknowledge some elements of untrustworthy sites of social media predictions of cryptocurrency and more especially bitcoin, let us base on what we practice, from my perspective i will let holders to know that they should not be in panic because bitcoin can not move below 40k rather it standpin to 40k level until it accelerate to another stage of increment

i was thinking that how people get tired looking at the crypto market that thesedays seems not really as interesting as few months ago

everyone have it's perspective, their is some people that justify Bitcoin immediately it downgrade in value, so immediately their is involvements of degradation in cryptocurrency market domination, castigations will began, so those people can escalate negative information of bitcoin circulates around the world.

[tokeweed]

yes, just for the sake of checking the sentiments from people here .

i believe we will hit below 40k but it will bounce back. anyone can give their own predictions on this market. so there's no right or wrong answer here. and even if it will dip below 40k, still it is still way above the price level of btc just before the pandemic.

What do you mean there’s no right or wrong answer?  This isn’t no art class.  BTC can def either go below 40k USD or not.  And yes, it def did this time.  So now let’s see if the momentum going down continues or if it goes for another bounce...  I’d say if momentum going to 30k builds, it’s prolly going to bounce from 30k to 40k then go back down.  If it bounces from current range, it could go bounce to 46k - 48k then go back down then trend back up.

...  Hopefully it’s the latter, not the former.    Cross your fingers.

[OgNasty]

The price dipped it’s toe below $40K to test the waters. It was on decent volume so that’s the closest we’ve seen to capitulation so far on this bear market run. We’re about to see a death cross in the market, with a likely target of $34K should the death cross pattern hold.  I think we’re all hoping for a rally here, but it may be wishful thinking. Hopefully today’s Bill Miller statement will get some other big money on board the pump.

[Frengki_cisco]

Will Bitcoin dip below $40K? (for at least 24 hours)

I have the same thoughts as you, yesterday I saw Bitcoin below $40k, today it stands again at $41k, fact it happened yesterday, I assume more $35k in March and August 2022.

Changes keep happening day after day, my guess is strong Bitcoin will fall to $35k.

[Lucius]

Hopefully today’s Bill Miller statement will get some other big money on board the pump.

Hardly anyone these days reacts to what Bill Miller or Michael Saylor will say no matter how much money they invest in Bitcoin. If, on the other hand, one such statement were given by Mr. Mars or Mr. Microsoft, I’m sure the price of BTC would jump by at least 20% in less than 24 hours. If you meant this statement, then the effect was completely absent because the average Joe has no idea who Bill Miller is, regardless of whether he invested 50% or 100% of his wealth in Bitcoin.

[tokeweed]

The price dipped it’s toe below $40K to test the waters. It was on decent volume so that’s the closest we’ve seen to capitulation so far on this bear market run. We’re about to see a death cross in the market, with a likely target of $34K should the death cross pattern hold.  I think we’re all hoping for a rally here, but it may be wishful thinking. Hopefully today’s Bill Miller statement will get some other big money on board the pump.

It wasn’t really capitulation.  It was more like manipulation to shake off weak hands and liquidate some longs before the big dudes start buying it all up for themselves.  You know..  The usual.  Lol.

So yeah, here we are, almost like it’s playing out just like July last year.  I’d expect everyone to feel great and go say ‘the bottom is in’ but no.  It could go touch 40k again and by that time let’s really hope it holds.  The moment it doesn’t is the moment some huge holders could start to capitulate and then we’d see 30k tested.  IMHO.

[Gozie51]

It could go touch 40k again and by that time let’s really hope it holds.  The moment it doesn’t is the moment some huge holders could start to capitulate and then we’d see 30k tested.  IMHO.

It is looking like the rally couldn't stay longer around $40k and has started on the high with today's bull run it is not certain whether $40k will appear in the picture any time soon. It couldn't break the $40k support last week and has picked up a rally afterwards.  Buyers are moving in and that helping to drive more volatility.

[gabbie2010]

I voted yes having take a closer look at the weekly BTC/USD chart the support at $40K to $42K look strong and price bounced back with reference to previous price reactions at that zone on my chart, it rejected the price twice as a resistance while rejected the price as a support once and presently the price had bounce off the support for the second time, I think that zone is an appropriate buying zone, of course the price couldn't break the support, it was rejected thus the price didn't dip down below $40K.

[TravelMug]

It could go touch 40k again and by that time let’s really hope it holds.  The moment it doesn’t is the moment some huge holders could start to capitulate and then we’d see 30k tested.  IMHO.

It is looking like the rally couldn't stay longer around $40k and has started on the high with today's bull run it is not certain whether $40k will appear in the picture any time soon. It couldn't break the $40k support last week and has picked up a rally afterwards.  Buyers are moving in and that helping to drive more volatility.

Yeah, it seems to be that there is a rally going on up to this weekends, as we might find our way to $45k again. I wanted a $47k price because that's where the price is before the sudden dump to $41k, so hopefully we can achieved that this weekend.

If not then it's good as well, there seems to be a lot of buyers and maybe the whole Kazakhs issues on electricity has somewhat been solved and that's why the hash rate has started to recover as well?

[pooya87]

If not then it's good as well, there seems to be a lot of buyers and maybe the whole Kazakhs issues on electricity has somewhat been solved and that's why the hash rate has started to recover as well?

The whole Kazakhstan thing was a non-issue that market manipulators used as an excuse to dump the price otherwise if you check the average hashrate over the past 2 months you can clearly see that it is exactly the same 180 EH/S approximately. In other words we didn't even have a big hashrate drop to cause any panic!!!

[OgNasty]

I would just like to point out that it is true what they say...  There is only 1 Miss Cleo.  That's how you know the poll is accurate.  Copied but never duplicated.  LOL

Oh what I wouldn't give to be able to give you a call and ask you about the Bitcoin price in the future Miss Cleo.  RIP.  I can only imagine it would have been a laugh that would keep on giving to the delight of everyone.

Question:   Will Bitcoin dip below $40K? (for at least 24 hours)
Yes   - 19 (67.9%)
No   - 8 (28.6%)
Who am I, Miss Cleo?   - 1 (3.6%)
Total Voters: 28

[Fundamentals Of]

I think we are still not yet off the hook. The price may have recovered a little from the brink of falling below the $40,000 support but it seems this little recovery is not to be taken as a sign that things are generally doing much better now. This might still be just a quick breather before the red candles will once again dominate the charts. We will see in the coming days. If the price will continue to rise little by little past $45,000, I guess we could say it will more likely attempt to break $50,000 than attempt to destroy the $40,000 support.