Is $30k the bottom for this dip?

[STT]

We have put in a higher low for BTC this week, if this should hold to the closing of the weekly candle then we should be more bullish from it.   Despite the conflict BTC continues to be used and of use to all participants outside of political and nationalistic control.
   I see that we can be quite bullish so to answer OP 30k could be a decent marker for the bottom.  There is still the wider question of if 20k occurs imo, extremes tend to magnetic in some way if only by their fear and volume as turning points.


Whats important now to mark the lows off in the rear view mirror would be that we we discontinue the recent decline from 45k.    The wider range I've tried to crop this graph to is 43k to 33k, the ideal to say this is over and the low is now established and past is by breaking that range.  Our recent attempt failed and you can see the weekly bars were pins that resolved downwards.   The pin or candle for this week is the opposite direction, it should be noted positively imo.

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[Rimueng]

Currently, the price of Bitcoin is back in the $43k area after experiencing a decline in the $36k price range a few weeks ago. But I see that the market is still going sideways, which is quite volatile up and down. Therefore, I think bitcoin still has the potential to drop in price but it doesn't seem to be going down in the $30k area.

[dunfida]

Currently, the price of Bitcoin is back in the $43k area after experiencing a decline in the $36k price range a few weeks ago. But I see that the market is still going sideways, which is quite volatile up and down. Therefore, I think bitcoin still has the potential to drop in price but it doesn't seem to be going down in the $30k area.

Prices are playing on between these levels which it is really hard to tell on which way it would go but it isnt bad if you have able to accumulate coins on 36k price point and even selling it on the current price isnt a bad

idea but if you do go with shorter trades then it is already that worth to make a move and now the price is getting low again close to 40k then rinse and repeat on the same process for short term kind of profits.

It is risky move since dealing with price on active manner is not for everybody but its considerable for those people who doesnt really like to wait.

[StreakW]

In my opinion, it looks like the price of bitcoin has the potential to drop to the level of $30k because throughout the third week of February the price of bitcoin has returned to the level of $35k. In the current drop in bitcoin price, liquidations have been lower than expected. The current liquidation volume is much lower above the volume that accompanied the previous gains. This can be a very important indicator for the market to continue to experience price declines.

I still see the price dropping below $30k as difficult, as there are still many large institutions currently continuing to invest in bitcoin. Microstrategy, for example, they continue to invest in bitcoin when the market dips, and it will continue to make bitcoin still have good demand even though it is in a bearish state.

The bitcoin market is currently still in a correction trend where the bitcoin price is currently in the $39k price range. But it does not rule out the price of bitcoin will go back down to the level of $ 30k. Moreover, many experts predict that Bitcoin will enter the crypto winter this year. If there is a crypto winter, then the price of bitcoin will drop even deeper and potentially drop below $30k.

[virasog]

I don't think the bitcoin price will drop further to the $30k level although in recent times the bitcoin price has decreased slightly where the bitcoin price has dropped to the $38k level. I see the current downward trend is only temporary because the potential for the market to return to bullish is still possible.

Lol wait if the war in Europe happens , then even 20k will be on our way, remember that this is involving one of the most powerful country in the world(Russia) so the effect will surely cover all businesses and markets and including cryptocurrency .

No one can say what will be the exact botton. 34-35K could be the bottom before we see the next all time high. If there is a war and other crises, fundamentally bad news can push it to 20-25K also. Nothing is impossible when it comes to bitcoin price. It may reach 100 thousand dollars or it may reach 10,000$. No can can predict the top and bottom of bitcoin.

[Jating]

I don't think the bitcoin price will drop further to the $30k level although in recent times the bitcoin price has decreased slightly where the bitcoin price has dropped to the $38k level. I see the current downward trend is only temporary because the potential for the market to return to bullish is still possible.

Lol wait if the war in Europe happens , then even 20k will be on our way, remember that this is involving one of the most powerful country in the world(Russia) so the effect will surely cover all businesses and markets and including cryptocurrency .

No one can say what will be the exact botton. 34-35K could be the bottom before we see the next all time high. If there is a war and other crises, fundamentally bad news can push it to 20-25K also. Nothing is impossible when it comes to bitcoin price. It may reach 100 thousand dollars or it may reach 10,000$. No can can predict the top and bottom of bitcoin.

In as much as we can't predict the top, it is the same with bottom.

There are speculators who said that we will hit $100k last December and it didn't happen. And the same scenario, there are predictions that we will see $20k as the floor fight, but so far we hadn't even touch that.

So it will really base on how the market will react at this point, now that the covid-19 is on the back seat issues for most countries, now we have a new one, the war in Europe that really affecting the market.

[bhooscream]

When the price is close to $30k there will usually be a very large quantity of buying, I'm sure that bitcoin will not drop below $30k again,

Large quantity of buying around $30k isn't the indicator/sign that $30k is the lowest price of this bearish phase. In my opinion, Bitcoin price is very possible to drop more, even it can drop to $20k for sure. We must realize that we are still at the beginning of the bearish phase, Bitcoin price drop to $30k is only the sign of the true bearish season. Since the bearish season can occur from 2022 to 2024, the chance of Bitcoin price to drop lower than $30k should be very possible. I guess the Bitcoin price may drop to $20k in Q3 - Q4 of 2022 or in Q1 - Q2 of 2023.

[lienfaye]

When the price is close to $30k there will usually be a very large quantity of buying, I'm sure that bitcoin will not drop below $30k again,

Large quantity of buying around $30k isn't the indicator/sign that $30k is the lowest price of this bearish phase. In my opinion, Bitcoin price is very possible to drop more, even it can drop to $20k for sure. We must realize that we are still at the beginning of the bearish phase, Bitcoin price drop to $30k is only the sign of the true bearish season. Since the bearish season can occur from 2022 to 2024, the chance of Bitcoin price to drop lower than $30k should be very possible. I guess the Bitcoin price may drop to $20k in Q3 - Q4 of 2022 or in Q1 - Q2 of 2023.

The market is unpredicted so anything can happen, Bitcoin's price can plunged below 30k. But I think the possibility is low because if it happened, its certain that many investors will take advantage the cheap price. Hence even the price reached that value, it wont last long.

Anyway, we are only in first quarter of the year so there's more to look forward.

[Fundamentals Of]

When the price is close to $30k there will usually be a very large quantity of buying, I'm sure that bitcoin will not drop below $30k again,

Large quantity of buying around $30k isn't the indicator/sign that $30k is the lowest price of this bearish phase. In my opinion, Bitcoin price is very possible to drop more, even it can drop to $20k for sure. We must realize that we are still at the beginning of the bearish phase, Bitcoin price drop to $30k is only the sign of the true bearish season. Since the bearish season can occur from 2022 to 2024, the chance of Bitcoin price to drop lower than $30k should be very possible. I guess the Bitcoin price may drop to $20k in Q3 - Q4 of 2022 or in Q1 - Q2 of 2023.

Why do you think so? Other than merely making a wild guess, do you have any basis for this prediction? Are we in the beginning of a bearish phase? I don't think so. The price of Bitcoin was bearish ever since it fell down from its ATH. From that point on until now, the market looks bearish. There were moments when I thought the bullish sentiment has resumed but those were very quick moments. The price would still go down after some days.

[Lorence.xD]

The price of $30k occurred in july or 8 months ago, since then the price has never been below $30k, the unique thing is when the price of bitcoin below $30k is a very large transaction volume, this proves that investors are really waiting to be able to buy with cheap price.

We don't know yet though, I mean that might just be a coincidence that it has gone up in transactions, also what if they know that they might be able to drive down the prices further just so they can buy bitcoin a bit more cheaper than the last lowest price? We never know what's going to happen next so as always, we should wait and observe.

[justdimin]

Large quantity of buying around $30k isn't the indicator/sign that $30k is the lowest price of this bearish phase. In my opinion, Bitcoin price is very possible to drop more, even it can drop to $20k for sure. We must realize that we are still at the beginning of the bearish phase, Bitcoin price drop to $30k is only the sign of the true bearish season. Since the bearish season can occur from 2022 to 2024, the chance of Bitcoin price to drop lower than $30k should be very possible. I guess the Bitcoin price may drop to $20k in Q3 - Q4 of 2022 or in Q1 - Q2 of 2023.

Why do you think so? Other than merely making a wild guess, do you have any basis for this prediction? Are we in the beginning of a bearish phase? I don't think so. The price of Bitcoin was bearish ever since it fell down from its ATH. From that point on until now, the market looks bearish. There were moments when I thought the bullish sentiment has resumed but those were very quick moments. The price would still go down after some days.

There is absolutely no prediction that could be made, just the historical data. Whenever we reached 30k, there were tons of buy orders and that is why he thinks that the same will happen. First of all, those are usually just support walls that people are putting, they can be crashed and the price could go under that, so there is no guarantee. However, I agree that it is a bit harder to crash that compared to other prices.

Like there isn't one at 31k, not at 32k, not at 33k and so forth until any price, so the strongest is around 30k levels and that is why people are actually making a good prediction that if that is the strongest then it will bounce from that.

[sana54210]

There is absolutely no prediction that could be made, just the historical data. Whenever we reached 30k, there were tons of buy orders and that is why he thinks that the same will happen. First of all, those are usually just support walls that people are putting, they can be crashed and the price could go under that, so there is no guarantee. However, I agree that it is a bit harder to crash that compared to other prices.

Like there isn't one at 31k, not at 32k, not at 33k and so forth until any price, so the strongest is around 30k levels and that is why people are actually making a good prediction that if that is the strongest then it will bounce from that.

Strong support lines are always harder to crack, not impossible like you said, but harder. Which means there will be plenty of people who will put buy orders at around 30k and then sell orders at 29.5k, that way you would be losing only a little if you are wrong, and if you are right then you would be buying at the bottom and it will go up. That's the type of thing that you could make money if you do it constantly.

Doesn't mean that you need to do it once a day, but you could always see it bottoming out at a strong support level and if you know what you are doing then you will end up with a profit. It will certainly cause a bit of trouble to be constantly online, so you could also use a trading bot to do the same thing.

[wozzek23]

Strong support lines are always harder to crack, not impossible like you said, but harder. Which means there will be plenty of people who will put buy orders at around 30k and then sell orders at 29.5k, that way you would be losing only a little if you are wrong, and if you are right then you would be buying at the bottom and it will go up. That's the type of thing that you could make money if you do it constantly.

Doesn't mean that you need to do it once a day, but you could always see it bottoming out at a strong support level and if you know what you are doing then you will end up with a profit. It will certainly cause a bit of trouble to be constantly online, so you could also use a trading bot to do the same thing.

They are harder to crack only during the periods when it is not really that bad. When the market is not really that big, you end up with support lines or even resistance lines not getting broke that frequently. However, when you end up with something that is a bit more serious, like a big crash, or a big hype, you end up with something that is a bit more understandable and it's easier to crack.

What I mean is, maybe 30k will not get broken down under and the price will not be there, but if it were, it wouldn't be just slow by slow, we won't see 5% per day drops few times a week for months before it goes under that price. We are going to see a huge crash that happens like in a day and go to near 30k levels, like maybe 32 or 33, and then we will see under 30k after a few days. If it ever happens, it will be like that.

[Chato1977]

I don't think the bitcoin price will drop further to the $30k level although in recent times the bitcoin price has decreased slightly where the bitcoin price has dropped to the $38k level. I see the current downward trend is only temporary because the potential for the market to return to bullish is still possible.

Lol wait if the war in Europe happens , then even 20k will be on our way, remember that this is involving one of the most powerful country in the world(Russia) so the effect will surely cover all businesses and markets and including cryptocurrency .

No one can say what will be the exact botton. 34-35K could be the bottom before we see the next all time high. If there is a war and other crises, fundamentally bad news can push it to 20-25K also. Nothing is impossible when it comes to bitcoin price. It may reach 100 thousand dollars or it may reach 10,000$. No can can predict the top and bottom of bitcoin.

of course but at least the price now maintains 30k level , though it may sounds stupid and bad but I am seeking for 20k level because i wanted to purchase more when the price is really that low and may give me more profit for long term holding .

[7788bitcoin]

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of course but at least the price now maintains 30k level , though it may sounds stupid and bad but I am seeking for 20k level because i wanted to purchase more when the price is really that low and may give me more profit for long term holding .

Anyone who missed the opportunity to hold the coins when the price was low would want to market to go down drastically so that they will have the opportunity to invest and then wait for the next rally. When there was a major correction, i expected the market to go down further but magically it was held together and it did not go down to $30k levels for a long time and it is exciting to see how long we will have a strong support at $30k.

[Frengki_cisco]

I see every day the development of Bitcoin lately a little difficult to step up to $ 40k, January to March 2022, still playing in the position of $ 30k and above, I think Bitcoin this year, will experience more changes and fall again, can..so touched under $30k lower.

[Lubang Bawah]

I see every day the development of Bitcoin lately a little difficult to step up to $ 40k, January to March 2022, still playing in the position of $ 30k and above, I think Bitcoin this year, will experience more changes and fall again, can..so touched under $30k lower.

Usually after a price explosion there will be a decline and this happens every 4 years, namely 2013 and 2017, and when the market can skyrocket in 2021, the beginning of 2022 looks sluggish, I hope 2022 will not repeat 2014 and 2018 which took time to more than 2 years to recover and skyrocket again.

[doomloop]

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of course but at least the price now maintains 30k level , though it may sounds stupid and bad but I am seeking for 20k level because i wanted to purchase more when the price is really that low and may give me more profit for long term holding .

Anyone who missed the opportunity to hold the coins when the price was low would want to market to go down drastically so that they will have the opportunity to invest and then wait for the next rally. When there was a major correction, i expected the market to go down further but magically it was held together and it did not go down to $30k levels for a long time and it is exciting to see how long we will have a strong support at $30k.

They will lose then if they didn't hold when the price is low but what you mean to say is if they missed buying when the price was low but it was sometimes their fault because they are expecting for more. Nothing will change if that was still their mindset. Nowadays, I don't think the price will drop too much because of the stronger support that bitcoin is getting from the public ( adoption ).

I did mention the hold word earlier, hodling is best once we successfully bought a coin but again, let's try to be realistic if what price are we going to see before we finally sell what we hodl. Someone says btc will hit 100k but I'm sceptical to that because btc didn't reach that yet.

[lixer]

I see every day the development of Bitcoin lately a little difficult to step up to $ 40k, January to March 2022, still playing in the position of $ 30k and above, I think Bitcoin this year, will experience more changes and fall again, can..so touched under $30k lower.

Usually after a price explosion there will be a decline and this happens every 4 years, namely 2013 and 2017, and when the market can skyrocket in 2021, the beginning of 2022 looks sluggish, I hope 2022 will not repeat 2014 and 2018 which took time to more than 2 years to recover and skyrocket again.

I am not sure if we are going to have that kind of thing anymore. I am not saying that it is over and we won't ever have it, but we are in a situation where we saw 64k as ATH before in 2021, and then it dropped 60%+ or so, and then we reached to 68k again.

It all happened inside a single year, many people think that we had it in that cycle and it will be 4 years later again, but that drop and increase proves to me that we may not be in a cycle anymore. I believe that we could be 70k in a month as well, or maybe we won't but at least the chance of it is there. This is why I am not really waiting on a great return that many years later, it could happen at any given minute.

[TravelMug]

I see every day the development of Bitcoin lately a little difficult to step up to $ 40k, January to March 2022, still playing in the position of $ 30k and above, I think Bitcoin this year, will experience more changes and fall again, can..so touched under $30k lower.

Usually after a price explosion there will be a decline and this happens every 4 years, namely 2013 and 2017, and when the market can skyrocket in 2021, the beginning of 2022 looks sluggish, I hope 2022 will not repeat 2014 and 2018 which took time to more than 2 years to recover and skyrocket again.

I am not sure if we are going to have that kind of thing anymore. I am not saying that it is over and we won't ever have it, but we are in a situation where we saw 64k as ATH before in 2021, and then it dropped 60%+ or so, and then we reached to 68k again.

It all happened inside a single year, many people think that we had it in that cycle and it will be 4 years later again, but that drop and increase proves to me that we may not be in a cycle anymore. I believe that we could be 70k in a month as well, or maybe we won't but at least the chance of it is there. This is why I am not really waiting on a great return that many years later, it could happen at any given minute.

If my memory serves me right, we have achieved multiple all time high in a single year. We haven't seen that before that's why others have said that bitcoin narrative is changing already with many whales and then majority is still the retail investors like you and me.

Nevertheless though, we are still not sure if we have seen the lowest low or not, many things can happen in the future. The best thing to do is really be very careful and just buy if the price goes down hard in the lower $30k.