Prediction: Low was $34K or will be ~$25K

[yhiaali3]

Your point is correct, so I think the bottom is 34K$. Indeed, we have seen a bounce from that point almost or a little less, but in any case, Bitcoin rose a little, but this is not necessarily an indication of an upward trend. We may see a drop again for Bitcoin and it may be bigger than the first time. I think that the first week of February is important for Bitcoin, if it manages to break the 40K threshold, we may see a rise again to the 50K area, and the opposite of that is the drop is expected.

[GeorgeJohn]

I think $25k will be a good buy option, its just a question on when we are going to hit that price.

If people are going to wait, then probably this price will not be touch in the next couple of months. If people are buying even at the current price, then definitely we will not hit ~$30k. So hard to see what will be the floor prize at least for this year. So( let's wait till April or at least the end of first quarter, lots of things could be in store for us, so better expect the unexpected.

Their no enough margins between twenty five thousand (25k) and twenty thousand (20k) but a good investor can not buy at range of twenty five (25k) when he knew that bitcoin price will experience another downfall that will lead to approximately twenty three thousand (23k) to twenty thousand (20k).

While some people get huge lost in the market or investment is because of wrong prescription and prediction of bitcoin price regulations, so immediately such concept is wrong you will absolutely adventure into the negative side, bearish time is most appropriate time to buy Bitcoin but with decrement price.

[ethereumhunter]

Your point is correct, so I think the bottom is 34K$. Indeed, we have seen a bounce from that point almost or a little less, but in any case, Bitcoin rose a little, but this is not necessarily an indication of an upward trend. We may see a drop again for Bitcoin and it may be bigger than the first time. I think that the first week of February is important for Bitcoin, if it manages to break the 40K threshold, we may see a rise again to the 50K area, and the opposite of that is the drop is expected.

Hopefully, the drop will not be bigger than previously and only be down for a little. If the price drops deeper, people can lose control and will sell fast without thinking of buying back again. Maybe they will buy back after the price is stable at one range price but not for buying if the price is still going down. We are almost at the weekend but we still do not see the price having more support to lift the price to break the $40k so I guess this weekend, we can see another correction for a while. Prepare yourself for anything that can happen and hope you can buy at the dip.

[cryptomaniac_xxx]

Your point is correct, so I think the bottom is 34K$. Indeed, we have seen a bounce from that point almost or a little less, but in any case, Bitcoin rose a little, but this is not necessarily an indication of an upward trend. We may see a drop again for Bitcoin and it may be bigger than the first time. I think that the first week of February is important for Bitcoin, if it manages to break the 40K threshold, we may see a rise again to the 50K area, and the opposite of that is the drop is expected.

Hopefully, the drop will not be bigger than previously and only be down for a little. If the price drops deeper, people can lose control and will sell fast without thinking of buying back again. Maybe they will buy back after the price is stable at one range price but not for buying if the price is still going down. We are almost at the weekend but we still do not see the price having more support to lift the price to break the $40k so I guess this weekend, we can see another correction for a while. Prepare yourself for anything that can happen and hope you can buy at the dip.

Well that's there emotions taking over, if they are going to push the sell button because the price is going down so fast.

But it seems that the fall has stop already so $36k, we've seen worst, at least this time it didn't go as low as $32k which is the lowest low we had as early as this year. And it's scary because we still have a lot of months in the calendar and it's possible that we might see the price lower that $30k, in my opinion.

[Reatim]

I don't share this view. Bitcoin will probably not go down lower than $30,000 anymore. Even if what you're saying is true, Bitcoin's price will probably just maintain its flight $30,000 or above.

At least even if you don't want still you share it here lol ..

there is a little chance that we will bellowing 30k again but this happened early January so chances are there still.

If everyone didn't buy at $34,000 because $30,000 was a better buy, then $30,000 will be a strong support. So if there is a strong demand in $30,000, why would this support be breaking and the price to fall down even more to $25,000? If there is indeed a certain level of greed in $30,000, it will become a platform for its bounce.

Those who did not bought at 34k is now in bitter feeling because they have been given a chance back then but they deny to purchase , not that the price stronger at 37-38k this is a chance they missed.

[laredo7mm]

Could we not even say your 25k figure was a bit low?

I think people might look to buy at 25k or 30k so much that it COULD drop down back to the 28.3k we saw last time and then take a large bounce up from there (I made a thread here a few weeks before then saying I didn't think it was unreasonable for us to hit near 29k but not go below it, and we got into the 28k regions then so)...

The support of 30K is very strong and it is very important to hold this support to save Bitcoin from a long-term bear market.  I think the market can go in any direction but before that, the price of bitcoin should touch 28k once at least.  Maybe it's a flash crash to liquidate futures traders.  The month of February is going to be very important for Bitcoin.



This is my observation.

[Epaper]

I think, although the bitcoin market is currently experiencing uncertainty. But it looks like bitcoin's lowest price is $34k and won't go down to the $25k price level. The last few days bitcoin had re-tested the $38k resistance and bitcoin's movement was still quite stuck at the $38k resistance although there was a slight decline but I see bitcoin will continue to rally to the $40k area. But, for now it's better to wait for the right time to re-enter the Bitcoin market.

[FanEagle]

I think, although the bitcoin market is currently experiencing uncertainty. But it looks like bitcoin's lowest price is $34k and won't go down to the $25k price level. The last few days bitcoin had re-tested the $38k resistance and bitcoin's movement was still quite stuck at the $38k resistance although there was a slight decline but I see bitcoin will continue to rally to the $40k area. But, for now it's better to wait for the right time to re-enter the Bitcoin market.

There is a huge difference between 34k and 25k as well, that is the confusing part about the question. I mean just because it stopped before 34k and did not go down, I can't say it won't go down further in the future but I could say that it wouldn't be 25k. Like, how the hell am I suppose to know where the price will be but even if I made a guess then I would say 30k, that would be both lower than 34k and still above 25k as you can see.

This is why I believe that we should not be really focusing on anything else, this is as good as it gets and we should be just accepting the fact that bitcoin can't be predicted, even if you think you are awesome at it, sometimes we all fail.

[Dave1]

Could we not even say your 25k figure was a bit low?

I think people might look to buy at 25k or 30k so much that it COULD drop down back to the 28.3k we saw last time and then take a large bounce up from there (I made a thread here a few weeks before then saying I didn't think it was unreasonable for us to hit near 29k but not go below it, and we got into the 28k regions then so)...

The support of 30K is very strong and it is very important to hold this support to save Bitcoin from a long-term bear market.  I think the market can go in any direction but before that, the price of bitcoin should touch 28k once at least.  Maybe it's a flash crash to liquidate futures traders.  The month of February is going to be very important for Bitcoin.

This is my observation.

Support will always be there, and as long as it can defend that line, it will. But we should look at the current sentiments, fear are inside the market, volumes is very low. So maybe there is a chance that the support line could break apart if there is huge pressure coming to the market from the bears. So for me, we might see a bear price of below $30k. Maybe not this month, but in the coming month, and this could be the perfect time to buy.

[adaseb]

If you guys have been following the stock market, you can see that large cap stocks like Netflix, PayPal, Snapchat, Facebook, Amazon are all trading like alt coins pretty much. Never did I think a near 1 Trillion market cap stock could drop almost 30% in a day.

Basically Bitcoin is following all this action. When Facebook dropped so did Bitcoin. When Amazon pumped so did Bitcoin. So the future of Bitcoin depends largely how the stock market does in the next few weeks. If we keep getting these bad earnings then I can see Bitcoin hitting $25K sometime in the next month or two.

[STT]

That amount of movement for no major failure or news like corruption or accounting problems is slightly over normal volality I think.    That could be part of the larger picture for all markets and asset type or just technology sector perhaps but I think it might also be that more news is oncoming for the Meta idea Facebook wants to invest with.   Someone fairly large decided its not going to be profitable especially, at one point there was excessive worry about mobile adverts for example.
  Anyway I dont think BTC follows just one stock, we'll have to see if tech pulling back  in its gains since the surge of distancing highlighted them is really going to relate to BTC.   My general take is some parts of tech are totally justified in their revenue.  The best guide overall for sentiment is Dollar index which has topped out in its trend up I think, thats what I will watch more.   Profit taking on inflated stock values is secondary.

[wavessurfing]

That amount of movement for no major failure or news like corruption or accounting problems is slightly over normal volality I think.    That could be part of the larger picture for all markets and asset type or just technology sector perhaps but I think it might also be that more news is oncoming for the Meta idea Facebook wants to invest with.   Someone fairly large decided its not going to be profitable especially, at one point there was excessive worry about mobile adverts for example.
  Anyway I dont think BTC follows just one stock, we'll have to see if tech pulling back  in its gains since the surge of distancing highlighted them is really going to relate to BTC.   My general take is some parts of tech are totally justified in their revenue.  The best guide overall for sentiment is Dollar index which has topped out in its trend up I think, thats what I will watch more.   Profit taking on inflated stock values is secondary.

in effect, volatility in stonks markets may be now greater than in crypto markets.

https://twitter.com/gaborgurbacs/status/1489199612539936776?cxt=HHwWkIC9kYrK2aopAAAA

[Questat]

If you guys have been following the stock market, you can see that large cap stocks like Netflix, PayPal, Snapchat, Facebook, Amazon are all trading like alt coins pretty much. Never did I think a near 1 Trillion market cap stock could drop almost 30% in a day.

Basically Bitcoin is following all this action. When Facebook dropped so did Bitcoin. When Amazon pumped so did Bitcoin. So the future of Bitcoin depends largely how the stock market does in the next few weeks. If we keep getting these bad earnings then I can see Bitcoin hitting $25K sometime in the next month or two.

So what do you think is the reason about the pump of bitcoin to $40k today, is the pump correlated to the stocks movement, or it's just a simple manipulation done by the whales again?

https://www.binance.com/en/trade/BTC_USDT

[Johnyz]

If you guys have been following the stock market, you can see that large cap stocks like Netflix, PayPal, Snapchat, Facebook, Amazon are all trading like alt coins pretty much. Never did I think a near 1 Trillion market cap stock could drop almost 30% in a day.

Basically Bitcoin is following all this action. When Facebook dropped so did Bitcoin. When Amazon pumped so did Bitcoin. So the future of Bitcoin depends largely how the stock market does in the next few weeks. If we keep getting these bad earnings then I can see Bitcoin hitting $25K sometime in the next month or two.

So what do you think is the reason about the pump of bitcoin to $40k today, is the pump correlated to the stocks movement, or it's just a simple manipulation done by the whales again?

https://www.binance.com/en/trade/BTC_USDT

Hoping that this is not a bull trap anymore, rising from below and reaching $40k price tells something else and for me, this is a good sign.

I just hope that bear market is finish already, and now we are going to recovery phase which normally the price will start to pump little by little. Let’s see if Bitcoin can break more resistance to confirm the trend reversal.

[tippytoes]

Hoping that this is not a bull trap anymore, rising from below and reaching $40k price tells something else and for me, this is a good sign.

I just hope that bear market is finish already, and now we are going to recovery phase which normally the price will start to pump little by little. Let’s see if Bitcoin can break more resistance to confirm the trend reversal.

We can't tell if bearish market is over or not. Let us be grateful that we hit the 40k mark again. There are various factors that contribute to this rise and one good news that I've seen recently is the re-introduction of bill by US lawmakers about the tax relief for small crypto transactions (about $200). You can check this article . I think, it gives positive vibes to their crypto users especially those small timers.

[Silberman]

Your point is correct, so I think the bottom is 34K$. Indeed, we have seen a bounce from that point almost or a little less, but in any case, Bitcoin rose a little, but this is not necessarily an indication of an upward trend. We may see a drop again for Bitcoin and it may be bigger than the first time. I think that the first week of February is important for Bitcoin, if it manages to break the 40K threshold, we may see a rise again to the 50K area, and the opposite of that is the drop is expected.

Today we saw an important recovery in the market and at least for now it seems that 34k is going to be the bottom, however something to take notice is that the bottom was very close to the average price that some of the biggest institutional investors have paid for their coins, and I do not think this is something that happened by chance, 25k is a price too low to actually see as those institutional investors will begin to defend the price of bitcoin way before we actually get to see that price.

[Oceat]

Hoping that this is not a bull trap anymore, rising from below and reaching $40k price tells something else and for me, this is a good sign.

I just hope that bear market is finish already, and now we are going to recovery phase which normally the price will start to pump little by little. Let’s see if Bitcoin can break more resistance to confirm the trend reversal.

We can't tell if bearish market is over or not. Let us be grateful that we hit the 40k mark again. There are various factors that contribute to this rise and one good news that I've seen recently is the re-introduction of bill by US lawmakers about the tax relief for small crypto transactions (about $200). You can check this article . I think, it gives positive vibes to their crypto users especially those small timers.

I do feel the same of what the above said though since there aren't news why there's a sudden pump and I think you gave may not be enough though to make Bitcoin to pump like this. I just hope it's not a bull trap since it's kinda suspicious though but who knows this might be their(whales) strategy again to make some profit.

I do feel like it's going to drop instead of going uptrend next time though the intention is not to start the bear run but to create a panic then, make a profit from those who panicked. And eventually starts to slowly pump until reaching the ATH and break straight to the $100k or so. I hope that's what they would do though.

[EdenHazard]

Remember… market does what the least amount participants expect.

Everyone didn’t buy at $34K because $30K was a better buy.
Everyone wants to buy at $30K instead of $34K
When $30K breaks… everyone will want to buy at $20K.
Since everyone wants to buy at $20K it’ll most likely never reach that area.

So bottom is $34K or $25K give or take a K or so.

Until such time they can't jump in when seeing the market at a bullish price of more than $35k because they are waiting lower than this.
IMO, anytime is a perfect time to buy and invest for a long-term purpose and a short term only, weeks or months.  This has been proven that after years passed Bitcoin price grow the price.  So if you have been bought this recent dump and waited for how many years it could be there's your profit.

It's unpredictable and we don't know until when the button of the price.  If you have spare money and buy when the price at $35k that's good and buy again when the price is below $30k that also seems good and holds for the long term.

Seeing the market price how it fluctuates I think it's a part of Bitcoin nature that is volatile.

Well it seems we did it! The market back in the green line and those people who wondering to drop more and didnt take that chance to buy at such low $34-37k or so are now in deep regret as they cant back in that time , that was a mistakes that we used to see on those who not really understand about the market behavior.

Keep buying no matter in what price as things might cpuld went unexpected anytime and you missed it!

[Yaunfitda]

Your point is correct, so I think the bottom is 34K$. Indeed, we have seen a bounce from that point almost or a little less, but in any case, Bitcoin rose a little, but this is not necessarily an indication of an upward trend. We may see a drop again for Bitcoin and it may be bigger than the first time. I think that the first week of February is important for Bitcoin, if it manages to break the 40K threshold, we may see a rise again to the 50K area, and the opposite of that is the drop is expected.

Today we saw an important recovery in the market and at least for now it seems that 34k is going to be the bottom, however something to take notice is that the bottom was very close to the average price that some of the biggest institutional investors have paid for their coins, and I do not think this is something that happened by chance, 25k is a price too low to actually see as those institutional investors will begin to defend the price of bitcoin way before we actually get to see that price.

To be honest, I never looked at the price in the last 24 hours. But I do exchange some of bitcoin to fiat because I needed them, so I just go ahead and see that it's weird that the equivalent fiat is higher. But today, I checked the price and it's above $40k. So everything is good at this point, recovery is on the way. Although I'm bearish for this year, I would say this might change things around again.

[Jating]

Hoping that this is not a bull trap anymore, rising from below and reaching $40k price tells something else and for me, this is a good sign.

I just hope that bear market is finish already, and now we are going to recovery phase which normally the price will start to pump little by little. Let’s see if Bitcoin can break more resistance to confirm the trend reversal.

We can't tell if bearish market is over or not. Let us be grateful that we hit the 40k mark again. There are various factors that contribute to this rise and one good news that I've seen recently is the re-introduction of bill by US lawmakers about the tax relief for small crypto transactions (about $200). You can check this article . I think, it gives positive vibes to their crypto users especially those small timers.

Currently the price goes to $41k, so indeed we did hit the $40k and then some mark again.

But we will have to find out what causes this break point, I mean are there any good news that propel the market again?

I've heard that there are speculations that stock people are moving to bitcoin market right now and that is where all the money is coming from.