Bitcoin Price Potential to Drop in the $32k Area

[wxa7115]

The graph you made two week ago turned out to be true that bitcoin fell to the $32k area. I had thought that the bitcoin price would not go down to the $32k level but it turns out that what we are seeing at the moment the bitcoin price continues to weaken and move bearish until it drops to the $29k area. It is likely that the crypto market will continue to decline and the price of bitcoin has the potential to drop to around $25k in the next few weeks.

Anything is possible at this point, however while a price drop to 25k could happen I do not think that we are going to remain there for long as institutional and retail investors will simply buy all the bitcoin they can at those prices.

However it is also difficult to see how a recovery could happen. as even if I think that luna is finished already and it is not going to recover this is a process that will take some time and it will bring unnecessary FUD to the market.

[fullhdpixel]

The graph you made two week ago turned out to be true that bitcoin fell to the $32k area. I had thought that the bitcoin price would not go down to the $32k level but it turns out that what we are seeing at the moment the bitcoin price continues to weaken and move bearish until it drops to the $29k area. It is likely that the crypto market will continue to decline and the price of bitcoin has the potential to drop to around $25k in the next few weeks.

The price was spotted being stable at 29k and it's been here this past days. I guess this was the latest support for bitcoin? But like we witness last time, there is still a tendency that the price will go up after a few days and then drop below 29k again. The 25k that you said is possible.

There are even threads here which states that bitcoin can plunge 23k to 21k. That's pretty low and maybe that is what the lowest btc price can go within this year if ever the correction continue's. For those who want's to buy, now you know if what to expect. Just don't be greedy and expect beyond that points because I haven't seen anyone predicted lower than that.

[Frengki_cisco]

The cryptocurrency market has failed to live up to traders' expectations as the bitcoin price is still struggling to get back above $40k. Bitcoin's attempt to hold its price above $40k indicates the sluggish momentum of the crypto market. For almost a month now the bitcoin price is between $37k-$39k. Currently, the price of Bitcoin is trading at around $38k. If bitcoin fails to maintain its $38k price range, it could drop to $32k in the near term.

Has exceeded $32k this week, Bitcoin is down, I believe Bitcoin this year can touch the $25k level, that's my belief, but we will see the actual results, until the lowest level, I personally will wait further down to invest in Bitcoin.

[junmisakiro]

The cryptocurrency market has failed to live up to traders' expectations as the bitcoin price is still struggling to get back above $40k. Bitcoin's attempt to hold its price above $40k indicates the sluggish momentum of the crypto market. For almost a month now the bitcoin price is between $37k-$39k. Currently, the price of Bitcoin is trading at around $38k. If bitcoin fails to maintain its $38k price range, it could drop to $32k in the near term.

Has exceeded $32k this week, Bitcoin is down, I believe Bitcoin this year can touch the $25k level, that's my belief, but we will see the actual results, until the lowest level, I personally will wait further down to invest in Bitcoin.

waiting for a deeper decline I think the right choice to invest, I think about the decline now as it was in 2018 but if it does happen don't ever doubt that Bitcoin will recover in the next few years.
I myself am also waiting for a deeper fall in the Bitcoin price to buy some and invest long term.

[Kocret02]

The cryptocurrency market has failed to live up to traders' expectations as the bitcoin price is still struggling to get back above $40k. Bitcoin's attempt to hold its price above $40k indicates the sluggish momentum of the crypto market. For almost a month now the bitcoin price is between $37k-$39k. Currently, the price of Bitcoin is trading at around $38k. If bitcoin fails to maintain its $38k price range, it could drop to $32k in the near term.

Cryptocurrency market conditions really do not generate enthusiasm for investors large and small to enter the market, Crypto corrected in quite a long time for now, bitcoin also has not shown an existence in a suitable return, let alone other coins that do not have utinitas like bitcoin, I am very doubt that this year the crypto market can give a positive reaction, the possibility that this year the market will be volatile again until recovery without pause

[Dhaniii]

The cryptocurrency market has failed to live up to traders' expectations as the bitcoin price is still struggling to get back above $40k. Bitcoin's attempt to hold its price above $40k indicates the sluggish momentum of the crypto market. For almost a month now the bitcoin price is between $37k-$39k. Currently, the price of Bitcoin is trading at around $38k. If bitcoin fails to maintain its $38k price range, it could drop to $32k in the near term.

Cryptocurrency market conditions really do not generate enthusiasm for investors large and small to enter the market, Crypto corrected in quite a long time for now, bitcoin also has not shown an existence in a suitable return, let alone other coins that do not have utinitas like bitcoin, I am very doubt that this year the crypto market can give a positive reaction, the possibility that this year the market will be volatile again until recovery without pause

bitcoin had fallen yesterday to a low of $28k and is now recovering back to $30k at this point. My suspicion of bitcoin price falling below $32k has happened and now it has got support back to $30k or grew by 2.36%. seeing the current conditions I'm a little excited and hope bitcoin doesn't drop below $30k again but it's still in a less sure status too. will bitcoin regain strength to break above $32k again.

[wxa7115]

The price was spotted being stable at 29k and it's been here this past days. I guess this was the latest support for bitcoin? But like we witness last time, there is still a tendency that the price will go up after a few days and then drop below 29k again. The 25k that you said is possible.

There are even threads here which states that bitcoin can plunge 23k to 21k. That's pretty low and maybe that is what the lowest btc price can go within this year if ever the correction continue's. For those who want's to buy, now you know if what to expect. Just don't be greedy and expect beyond that points because I haven't seen anyone predicted lower than that.

We will have to see how things evolve, right now the market of cryptocurrencies is showing some temporary correlation with the stock markets that have been going down during the last weeks as well, and if to this we add the disaster of luna then it is not difficult to understand why the price went down.

However if yet another black swan hits the market then that is when we could begin to see bitcoin reaching a price of 25k or even lower, as many people are still holding their coins but if anything else were to happen I would not be surprised if they sold their coins as they will not be able to endure yet another drop in the price of bitcoin.

[aylabadia05]

The cryptocurrency market has failed to live up to traders' expectations as the bitcoin price is still struggling to get back above $40k. Bitcoin's attempt to hold its price above $40k indicates the sluggish momentum of the crypto market. For almost a month now the bitcoin price is between $37k-$39k. Currently, the price of Bitcoin is trading at around $38k. If bitcoin fails to maintain its $38k price range, it could drop to $32k in the near term.

Now Bitcoin is at the point of $29k traded. This means that for 25 days Bitcoin continued to decline and did not stay at $32k.
There are also those who speculate that Bitcoin will hit a price below $10k if it hits $30k like Scott Minerd who told CNBC that Bitcoin could drop to $8,000.
This is the source to read.

Although the Bitcoin price decline is still ongoing and far from expectations, sooner or later, I still believe that Bitcoin will again achieve an increase to reach a new ATH.

[Kemarit]

^ I don't want to listen to those so called experts, because I doubt that the price will go down below $20,000.

The lowest price that we can go is maybe the previous highs from 2017 and that will be the final capitulation. That is if it ever happens and assuming that all market are going to hit hard in the next couple of years. But we all know that even the Covid-19 scare in 2020 didn't deter the market price. We could argue that it is a bitcoin halving year but the effects on the price drop is going to be short term what ever that factor maybe.

[wxa7115]

^ I don't want to listen to those so called experts, because I doubt that the price will go down below $20,000.

The lowest price that we can go is maybe the previous highs from 2017 and that will be the final capitulation. That is if it ever happens and assuming that all market are going to hit hard in the next couple of years. But we all know that even the Covid-19 scare in 2020 didn't deter the market price. We could argue that it is a bitcoin halving year but the effects on the price drop is going to be short term what ever that factor maybe.

We may still see some instability in the markets as the new luna was released recently, and if the market follows our common sense then speculators will try to pump the coin in the short term only for luna to crash again, and this time in a definitive manner, all the way to zero.

If this process takes a few weeks then we can expect the next weeks to also be difficult for this market, but after that I do not see many reasons for the price of bitcoin to see such a large drop.

[btc_angela]

^ I don't want to listen to those so called experts, because I doubt that the price will go down below $20,000.

The lowest price that we can go is maybe the previous highs from 2017 and that will be the final capitulation. That is if it ever happens and assuming that all market are going to hit hard in the next couple of years. But we all know that even the Covid-19 scare in 2020 didn't deter the market price. We could argue that it is a bitcoin halving year but the effects on the price drop is going to be short term what ever that factor maybe.

We may still see some instability in the markets as the new luna was released recently, and if the market follows our common sense then speculators will try to pump the coin in the short term only for luna to crash again, and this time in a definitive manner, all the way to zero.

If this process takes a few weeks then we can expect the next weeks to also be difficult for this market, but after that I do not see many reasons for the price of bitcoin to see such a large drop.

Nah, I don't think the new Luna release will again put a dent in the market. Altcoin market is so volatile that I don't think that bitcoin investors are going to touch it after what really happen on that debacle. And as I have pointed out in previous post, the market will go on a bearish trend and we really don't know the bottom price. It's just maybe the Luna really put a toll this early, and I would add that it's good though. At least we all know where the market is really heading and this is to be expected.

[btc78]

The cryptocurrency market has failed to live up to traders' expectations as the bitcoin price is still struggling to get back above $40k. Bitcoin's attempt to hold its price above $40k indicates the sluggish momentum of the crypto market. For almost a month now the bitcoin price is between $37k-$39k. Currently, the price of Bitcoin is trading at around $38k. If bitcoin fails to maintain its $38k price range, it could drop to $32k in the near term.

your speculative post is not even close to what had happened because bitcoin not only drop to 32k instead below 30k and almost fell down below 25k .

but assessing the movement of bitcoin since early May and now Early June? both as dumping and continues to lower the value .

so Maybe we are looking for more lowered positioning in the next following months .

[MiF]

The cryptocurrency market has failed to live up to traders' expectations as the bitcoin price is still struggling to get back above $40k. Bitcoin's attempt to hold its price above $40k indicates the sluggish momentum of the crypto market. For almost a month now the bitcoin price is between $37k-$39k. Currently, the price of Bitcoin is trading at around $38k. If bitcoin fails to maintain its $38k price range, it could drop to $32k in the near term.

Sad to see that it already drop below 30k$ area but it does not mean that it will stay on that price maybe few weeks from now we will saw btc above 35k$ for now i think there's no need to over think on what is going on in the market we need to keep calm and think about the future so i will buy few altcoins that is also in a downtrend situation and hold till btc market become stable above 40k$.

[TravelMug]

^^ It did drop, but we have recovered already at $30,730 based on preev.com. Anyhow,$32k-$35k might be the biggest psychological barrier right now, and with the way the market is moving, with a slight negative news that is not even related to bitcoin affects us (like the Binance investigation), the market will suddenly go down. So hopefully we could just be in the $30k range and trade sideways, I will be happy about that instead of the $24k-$25k drop that others have been predicting.

[mattujusuruga]

The bitcoin price prediction on your chart has taken place. Currently the bitcoin price is trading around $29k-$30k and the market is still in the red. Therefore, if you look at the previous price pattern, the potential for bitcoin price to rise back to the $32k area is still possible in the next few weeks.

[RealMalatesta]

^^ It did drop, but we have recovered already at $30,730 based on preev.com. Anyhow,$32k-$35k might be the biggest psychological barrier right now, and with the way the market is moving, with a slight negative news that is not even related to bitcoin affects us (like the Binance investigation), the market will suddenly go down. So hopefully we could just be in the $30k range and trade sideways, I will be happy about that instead of the $24k-$25k drop that others have been predicting.

Making a recovery is the main reason why bitcoin has so much trust by other people as well. You have to understand that crypto is not a thing that will make sense to many people, there are tons of ups and downs that would be a lot of problems for people who do not understand the market. They see it go from 31k to 30k and they are fearing that the price will keep on crashing, then it recovers and they are shocked how quickly it went down and then went up.

I have to say that the best thing about crypto is the fact that you could make so much profit with it, if you know what you are doing and you have a little bit of patience to go along with it, instead of fearing each time it drops.

[Sir Legend]

Almost 3 months we are under $32k, of course this is a long time to immediately see the market rising again, many impacts we get when the market is red, for example, are many projects that fail to reach softcap and of course this has an impact on bounty hunters.

[Nrcewker]

The bitcoin price prediction on your chart has taken place. Currently the bitcoin price is trading around $29k-$30k and the market is still in the red. Therefore, if you look at the previous price pattern, the potential for bitcoin price to rise back to the $32k area is still possible in the next few weeks.

The pattern seems to be seen earlier.
And kudos to the OP, who has predicted with 90% accuracy.
Now only the Bitcoins will break the resistance when it passes 33k usd mark.
It won’t be any longer I feel, just few weeks and we will see again Bitcoins at 40k usd almost.
I can request all the other traders, not to sell their Bitcoins, if possible hold it for a little longer and enjoy good profits.

[newdevices]

Bitcoin has dropped below $32000 and is now at $28500,
I'm really worried because my portfolio has also been dumped because of this bear market,
Bitcoin dump = altcoins are also dumped, I don't know, should I cut losses on my investment?

[dezoel]

The pattern seems to be seen earlier.
And kudos to the OP, who has predicted with 90% accuracy.
Now only the Bitcoins will break the resistance when it passes 33k usd mark.
It won’t be any longer I feel, just few weeks and we will see again Bitcoins at 40k usd almost.
I can request all the other traders, not to sell their Bitcoins, if possible hold it for a little longer and enjoy good profits.

I agree that it shouldn't be hat long, we will probably see it during June for sure. The resistance is hard to crack when everyone is fearing the bear run, and we dropped here so the work so far has been stopping the fall, and that took all of our money to do that. Now that we are stopped, and do not go down, time to start working towards going up can start.

We could either go right through the resistance levels, or it may take a while as well, we are not sure about what is going to happen. But, all I know is that we are definitely going to end up with a big profit eventually and the price will skyrocket, all we discuss now is "when", not "if" anymore.