Bitcoin may likely pull back to 35k

[kesmex]

today Bitcoin experienced a DUMP to below $29k, and has touched $28k,
I feel that this dump will continue to $20k before experiencing bullishness in 2024,
I analyzed it earlier, and understand the current chart, I hope it helps

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[kawetsriyanto]

One thing we must understand is the fact that most newbies are all in for the profits and this mentality gave them a wrong idea of the true nature of the market, their belief the market should only go.in the uptrend direction.

They don't understand about crypto market yet. They think it is easy to gain profits and it is secure to put all money in crypto investment. They don't know if crypto market is very volatile and crypto prices can change drastically only in a few days. They are often shocked when they see the prices of crypto coins freefall, and they blame the volatility in crypto market. Some of them can continue to hold, while others may decide to quit suddenly. This phenomenon is not something new in crypto.

I feel that this dump will continue to $20k before experiencing bullishness in 2024,

Agree. It is likely to drop more to $20k before the next pump in the bullish period. We have BTC halving in 2024, the next bullrun probably happens in 2025. But we don't know how it will be exactly, our prediction may be not accurate (wrong).

[bitterguy28]

It is indeed hard to see how Bitcoin drops badly while we are seeking for more higher and more increases but this is the reality of cryptocurrency investing , this is how the volatility of the market goes and with that? we must always ready and always aware of the risk and also of the advantage , so in any case just sell when you think you cannot hold it? or Keep it long for the best result .
just Buy bitcoin , and hold , or sell bitcoin and wait for the right time to buy again.

today Bitcoin experienced a DUMP to below $29k, and has touched $28k,
I feel that this dump will continue to $20k before experiencing bullishness in 2024,
I analyzed it earlier, and understand the current chart, I hope it helps

Wrong, it is not 28k but dumped at 26k just today and this is a bad sign .

[evilgreed]

It is indeed hard to see how Bitcoin drops badly while we are seeking for more higher and more increases but this is the reality of cryptocurrency investing , this is how the volatility of the market goes and with that? we must always ready and always aware of the risk and also of the advantage , so in any case just sell when you think you cannot hold it? or Keep it long for the best result .
just Buy bitcoin , and hold , or sell bitcoin and wait for the right time to buy again.

today Bitcoin experienced a DUMP to below $29k, and has touched $28k,
I feel that this dump will continue to $20k before experiencing bullishness in 2024,
I analyzed it earlier, and understand the current chart, I hope it helps

Wrong, it is not 28k but dumped at 26k just today and this is a bad sign .

               It was quite a huge wick and now, the market is showing a bit of recovery but I currently am doubting this. I personally think that we are still not out of danger as fear sets in and panic sellers are getting more and more hesitant to hold onto bitcoin and other altcoins. Specially the ones that are new to this industry. Oh well, not worried though, just a bit mad at myself for taking profits too early on my short at 28k. Still, I'm expecting good recovery half way through the month. Hope this happens.

[BITCOIN4X]

Agree. It is likely to drop more to $20k before the next pump in the bullish period. We have BTC halving in 2024, the next bullrun probably happens in 2025. But we don't know how it will be exactly, our prediction may be not accurate (wrong).

You're right, mate. Even though we can analyze and predict prices based on history and also the fundamentals that are happening, it can still be wrong. There is a possibility that the price could still drop to $20K as the market is really crashing right now and so far there has been no significant recovery.

I also think that the next bullrun period might occur in the range of 2024 to 2025. The 2024 halving might affect the interest of traders and investors to buy bitcoin again.

[Odusko]

It is indeed hard to see how Bitcoin drops badly while we are seeking for more higher and more increases but this is the reality of cryptocurrency investing , this is how the volatility of the market goes and with that? we must always ready and always aware of the risk and also of the advantage , so in any case just sell when you think you cannot hold it? or Keep it long for the best result .
just Buy bitcoin , and hold , or sell bitcoin and wait for the right time to buy again.

today Bitcoin experienced a DUMP to below $29k, and has touched $28k,
I feel that this dump will continue to $20k before experiencing bullishness in 2024,
I analyzed it earlier, and understand the current chart, I hope it helps

Wrong, it is not 28k but dumped at 26k just today and this is a bad sign.

Am not surprised at what we are witnessing now this is not the first time the Bitcoin market will have a free fall like this but one thing is certain if you can hold the price will rise again, must time I see such a fall as a signal for next bull run so let enjoy the ride in whichever direction the price goes either up or down.

[STT]

There are a lot of people who invest into crypto with the money they may need to survive and live.

I'd say thats bad but its probably the vast majority of people on the long time scale.  If an economy contracts over a couple years and unemployment goes to 10% then you might as well say its everybody.  Hence this is the force which drives prices down so much, a bias to productive assets becomes far more pronounced in such times.   This is why we get the sharp turn around, BTC generally doesnt give enough yield back to (most) people to be called high utility or an investment, most dont label it correctly as a commodity speculative bet basically.
  If they label right then risk might also be allocated correctly too and they wont dive into something they need to jump out of just as fast, unfortunately we get people doing the same every time.    Thats negative for them but also why I dont take price as a dictator to my judgement of prospects long term, price gets thrown about by desperate people who got no choice but to retract their remaining capital at a loss but it doesnt mean the actual asset itself is wrong or impaired by their loss.
  Its possible we could view 35k as a median and this current action as the overshoot, its given no hint of that but seems a reasonable view.  I always expect price to return to the 200 day average, I expect that now; doesnt mean 2022 ends nicely because 200DMA is in decline but generally we go too far in both directions and we'll adjust that effect at times.

[Jating]

It is indeed hard to see how Bitcoin drops badly while we are seeking for more higher and more increases but this is the reality of cryptocurrency investing , this is how the volatility of the market goes and with that? we must always ready and always aware of the risk and also of the advantage , so in any case just sell when you think you cannot hold it? or Keep it long for the best result .
just Buy bitcoin , and hold , or sell bitcoin and wait for the right time to buy again.

today Bitcoin experienced a DUMP to below $29k, and has touched $28k,
I feel that this dump will continue to $20k before experiencing bullishness in 2024,
I analyzed it earlier, and understand the current chart, I hope it helps

Wrong, it is not 28k but dumped at 26k just today and this is a bad sign.

Am not surprised at what we are witnessing now this is not the first time the Bitcoin market will have a free fall like this but one thing is certain if you can hold the price will rise again, must time I see such a fall as a signal for next bull run so let enjoy the ride in whichever direction the price goes either up or down.

Of course, the price will recover, but it might too long though. So it's just a question of your willingness to hold and buy during this time, or completely sell everything and wait for the floor price before re-investing. So there is still hope to make money or at least have a good investment strategy in the bear market. The market might be free falling, but it doesn't mean that we will just watch it. If you have some extra capital then re-invest.

[tygeade]

One thing we must understand is the fact that most newbies are all in for the profits and this mentality gave them a wrong idea of the true nature of the market, their belief the market should only go.in the uptrend direction.
This is so because Bitcoin is viewed as a get rich quick investment to most newbies but to the ones, once you have gained a good knowledge of the market and its volatilities it tends to reduce your FOMO level and never minding the market conditions rather you take advantage of the market and buy whenever you can and also sell at the right price.

Market is ruthless, market doesn't care about your ideas or your hopes or your wishes. Market makes whatever they can to profit from the prices and they will destroy everything on its path to make that profit. Look at what happened to Luna today, you think that was natural?

There were some people in the market who got in, and they realized they could make profit from the system Luna has, by just destroying it. They dropped it 95%+ and they felt no sorrow about it, because if you can make a profit from something and you don't? Then you are stupid or you shouldn't be in the market, why stop just because one project will fail, when you can profit? That's how market approaches things.

[Odusko]

Market is ruthless, market doesn't care about your ideas or your hopes or your wishes. Market makes whatever they can to profit from the prices and they will destroy everything on its path to make that profit. Look at what happened to Luna today, you think that was natural?

There were some people in the market who got in, and they realized they could make profit from the system Luna has, by just destroying it. They dropped it 95%+ and they felt no sorrow about it, because if you can make a profit from something and you don't? Then you are stupid or you shouldn't be in the market, why stop just because one project will fail, when you can profit? That's how the market approaches things.

Luna's condition was that of a ruthless bear 🐻 the whale manipulated the market just to cash out profits as you have rightly said everyone in this space is after the profits once they see a way to manipulate the market to favor them there will not have a second thought and will not care what becomes of the leftover of such coin.

[barbara44]

Agree. It is likely to drop more to $20k before the next pump in the bullish period. We have BTC halving in 2024, the next bullrun probably happens in 2025. But we don't know how it will be exactly, our prediction may be not accurate (wrong).

You're right, mate. Even though we can analyze and predict prices based on history and also the fundamentals that are happening, it can still be wrong. There is a possibility that the price could still drop to $20K as the market is really crashing right now and so far there has been no significant recovery.

I also think that the next bullrun period might occur in the range of 2024 to 2025. The 2024 halving might affect the interest of traders and investors to buy bitcoin again.

There is a possibility of it going to 10k, or even under, there is also a possibility of it being 100k, and this is why we are in crypto. I mean yeah it's dangerous and it's scary to think that it could be under 10k, I wouldn't want that at all.

However, is it possible that Biden comes out tomorrow, and in a discussion say "...should be better, we need to figure out a better version, just like they created bitcoin as a better version of money"? I know it is unlikely, I know it will probably not happen, but is there a 100% GUARANTEED way of knowing it won't happen? Of course not, and price would be 100k at that point. So unexpected things could be both good but also bad as well.

[asrinur]

I see the price of bitcoin is still likely to drop from the current price until corrected to the $28k area. the correction that made the bitcoin price drop in the last few weeks was caught in a negative trend. Therefore, if the current price correction continues, the bitcoin price will drop to the $28k area and it's possible that the bitcoin price will hit the $25k area again.

[Odusko]

Obviously, Bitcoin touched below 28,000 in the late days of last week and even with the present Bitcoin price there is a likelihood that the price may even dive below 25k which will be a good opportunity to buy more bitcoin for holding against the weakness of the UST market lately.

I see the price of bitcoin is still likely to drop from the current price until corrected to the $28k area. the correction that made the bitcoin price drop in the last few weeks was caught in a negative trend. Therefore, if the current price correction continues, the bitcoin price will drop to $28k the bitcoin price may hit the $25k area again.

If Bitcoin can be able to make a quick correction to 37,000 only then we can restore only then must the investor will cash out on the pretense of making a bet.

[mattujusuruga]

Bitcoin is currently trading at a price range of $34k. Looking at the price chart in the market, the decline in the price of bitcoin may continue to occur. Even if the technical indicators show a further decline towards the support zone in the $30k-$32K area.

You may be right in that statement seeing that Bitcoin is declining at an alarming rate and now heading to the 30k support region which may not favor most traders who were optimistic that the 35k region was the lowest limit Bitcoin will fail to before making a rebound to another new all-time high or minimum 45k price benchmark.

Like my previous analysis which shows that the bitcoin price is in the $30K-$32k area at the moment. But it seems that bitcoin still has the potential to continue its price decline. I think the current price weakness is possible that the bitcoin price has the potential to be at the $28K support area.

[Newlifebtc]

Bitcoin is currently trading at a price range of $34k. Looking at the price chart in the market, the decline in the price of bitcoin may continue to occur. Even if the technical indicators show a further decline towards the support zone in the $30k-$32K area.

You may be right in that statement seeing that Bitcoin is declining at an alarming rate and now heading to the 30k support region which may not favor most traders who were optimistic that the 35k region was the lowest limit Bitcoin will fail to before making a rebound to another new all-time high or minimum 45k price benchmark.

Like my previous analysis which shows that the bitcoin price is in the $30K-$32k area at the moment. But it seems that bitcoin still has the potential to continue its price decline. I think the current price weakness is possible that the bitcoin price has the potential to be at the $28K support area.

The price of bitcoin is annoying and no body knows if the bearish will return to bullish this year , the price you denote that is 30-32 thousand is even going down very speed and i dont understand how it this price of bitcoins come down and go up, because as we saying of the price now is of 29 thousand and soon it will clamp down to 28-27 thousand

[Natalim]

Agree. It is likely to drop more to $20k before the next pump in the bullish period. We have BTC halving in 2024, the next bullrun probably happens in 2025. But we don't know how it will be exactly, our prediction may be not accurate (wrong).

You're right, mate. Even though we can analyze and predict prices based on history and also the fundamentals that are happening, it can still be wrong. There is a possibility that the price could still drop to $20K as the market is really crashing right now and so far there has been no significant recovery.

I also think that the next bullrun period might occur in the range of 2024 to 2025. The 2024 halving might affect the interest of traders and investors to buy bitcoin again.

I don't think we need to depend on history, the market seems going far from what it did before. It moves differently and also the investors did.
Apparently, we still have the assurance for the price roll up but that is just when this bear market end and the question is when? The market just playing from $29k-$31k, buyers may take this chance in preparation for the next halving. In this way, the price will seem to increase as the demand meets high.

[rodskee]

Well, you're right.

Bitcoin is now $35,852.

And it's more likely that it's going to go lower until next week. But hopefully it doesn't going to hold that much longer at these level.

That's just what I'm thinking of but yet, still a good price to start picking some if you haven't bought yet every time bitcoin has dipped.

And there are some thread and posts that says it may fell down to 20kish and if this happens then we must admit that this year will be the beginning of bearish market and the recovery can take part back on 2025?

The same goes for last year.

IIRC, it has reached $29k.

And that's why we've thought that it was the actual start of the bear market but it wasn't. This time, it could be real but don't remove that possibility that it's still the same.

We may see some spikes again coming around the next months.

Then again happened recently but more lower now , Bitcoin drops down to 26k and there are even speculative posts that aiming this to downfall below 25k ?
if there is a chance that the price will fall below 20k? then surely i can purchase another good amount as I have sold my coins when the price start to fall at 48k .

[Reatim]

I see the price of bitcoin is still likely to drop from the current price until corrected to the $28k area. the correction that made the bitcoin price drop in the last few weeks was caught in a negative trend. Therefore, if the current price correction continues, the bitcoin price will drop to the $28k area and it's possible that the bitcoin price will hit the $25k area again.

if 25k is the bottom then we already had passed that area right? or we have just take the lowest to 26 k and 1k price to be lessen before we finally take the bullish time again?
But I don't see any below that level , this coin has been pulling down for almost a month now and maybe there might be a good site we can expect in the next couple of weeks or at least in 3rd quarter?

[poldanmig]

Watching the current market conditions and the way the Bitcoin bear market is acting I know there will not be strong resistance to the 40k level and the price may likely pull back to 35k before it build up against the bear market, this season may not be a Bitcoin all green season but a lot of red lines will surface and cover the entire market for some time.

I don't know what your reference is in predicting the estimated decline in bitcoin when you write this topic, but what you say seems to be starting to become a reality, now the bitcoin price is even starting to experience a sharper decline than you expected and there are no signs yet positives are likely to hinder the movement of bitcoin to return to the price of $ 40K, the amount of negative sentiment circulating in the market is the main cause of the current price decline and we do not know when the bitcoin price will recover again.

[bitterguy28]

It is indeed hard to see how Bitcoin drops badly while we are seeking for more higher and more increases but this is the reality of cryptocurrency investing , this is how the volatility of the market goes and with that? we must always ready and always aware of the risk and also of the advantage , so in any case just sell when you think you cannot hold it? or Keep it long for the best result .
just Buy bitcoin , and hold , or sell bitcoin and wait for the right time to buy again.

today Bitcoin experienced a DUMP to below $29k, and has touched $28k,
I feel that this dump will continue to $20k before experiencing bullishness in 2024,
I analyzed it earlier, and understand the current chart, I hope it helps

Wrong, it is not 28k but dumped at 26k just today and this is a bad sign.

Am not surprised at what we are witnessing now this is not the first time the Bitcoin market will have a free fall like this but one thing is certain if you can hold the price will rise again, must time I see such a fall as a signal for next bull run so let enjoy the ride in whichever direction the price goes either up or down.

and also this is an expected event as this is the year where Bitcoin should experience a downfall that will be following by the whole market because last year  is the Bullying moment and it is given that every after a Bullied year Bearishness will come to follow.
it just happened that this does not come first quarter instead now at the second and we are sure in the third as well and decisions may come at the fourth .