Today is the day

[darkangel11]

We have it folks. The first time in bitcoin's history when the price went below the ATH from the previous cycle.
We also are below the 200 week moving average, which happens like... never.
We have a fear and greed index of 6, which happened only once in history.

It's either a generational buying opportunity with bitcoin being the most oversold it's ever been, or it's the end of bitcoin and it's finally dead LOL

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[Wilhelm]

If you look at logarithmic models then this was expected to happen after the next halving.

[Charles-Tim]

It's either a generational buying opportunity with bitcoin being the most oversold it's ever been, or it's the end of bitcoin and it's finally dead LOL

Bitcoin has been pronounced dead several times, if also pronounced dead this time, it has not been a surprise because it has been what has happened several times in the past, known as bitcoin obituary. A time to invest and make profit more is when others are panic to buy. Do not just be surprised if you see bitcoin price increasing again. Never be surprised by that as price decrease is a buying opportunity for many people.

[Lorence.xD]

If you look at logarithmic models then this was expected to happen after the next halving.

And yet people still thinks that bitcoin is going to see it's end everytime the market is on its red days. My newsfeed is full of these kind of people again, they're prophesizing that the cryptocurrency market is facing its end, I just laugh at all of them though, while they're panicking, here I am stockpiling my stash and waiting for the prices to go down much more.

[hugeblack]

I do not think that today's description will be accurate because the price may be lower in the coming days, but we are in the time range in which the price of Bitcoin is very low and therefore ideal for those who want to invest in the long term.

All the technical analyzes that I mentioned will not help the price to be higher than the current level and it may drop to more than 90%, since it is the first time that many things are happening, but the most important point is to buy more or not to sell at least.

[Wilhelm]

If you look at logarithmic models then this was expected to happen after the next halving.

And yet people still thinks that bitcoin is going to see it's end everytime the market is on its red days. My newsfeed is full of these kind of people again, they're prophesizing that the cryptocurrency market is facing its end, I just laugh at all of them though, while they're panicking, here I am stockpiling my stash and waiting for the prices to go down much more.

Yup aren't we all. I'm panicking where to get the investment funds from, to buy in this fire sale...

[Wilhelm]

I do not think that today's description will be accurate because the price may be lower in the coming days, but we are in the time range in which the price of Bitcoin is very low and therefore ideal for those who want to invest in the long term.

All the technical analyzes that I mentioned will not help the price to be higher than the current level and it may drop to more than 90%, since it is the first time that many things are happening, but the most important point is to buy more or not to sell at least.

$1000 btc would be a dream come true

[Poker Player]

$1000 btc would be a dream come true

$1K would be a disaster.

I know on this forum people believe in Bitcoin almost like they believe in god, but it costs a lot more to go down than it does to go up to begin with. If going down from $10K to $1K is a 90% downside, going up from $1K to $10K is a 1000% upside.

While we're at it, we could take the argument further. If $1K would be a dream come true, $100 would be even better, and $10 even better etc. No way. The lower the price, the more disastrous it will be.

That said, I highly doubt it will go down to those levels.

I think what is going to happen this cycle is that the predictions that were made based on the previous ones are broken and more realistic predictions for the future will have to be considered.

[hugeblack]

$1000 btc would be a dream come true

90% of ATH which is 6900~7K.
Although this is unlikely, you must be prepared for all options.
What worries me is not to what extent we will go down, but the continuation of being below the $19,200 long support level (200 MA)
I remember a similar case when Covid-19 was first declared a pandemic in March 2020 and the price kept going below that level by more than 10% but the bounce back was fast.

[Eternad]

It's either a generational buying opportunity with bitcoin being the most oversold it's ever been, or it's the end of bitcoin and it's finally dead LOL

Bitcoin has been pronounced dead several times, if also pronounced dead this time, it has not been a surprise because it has been what has happened several times in the past, known as bitcoin obituary. A time to invest and make profit more is when others are panic to buy. Do not just be surprised if you see bitcoin price increasing again. Never be surprised by that as price decrease is a buying opportunity for many people.

The main question here is by who? Those guys claiming that Bitcoin is already dead are those who probably want to purchase Bitcoin at lower price level. There’s a lot of people in the past that say those exact word OP stated but now they are holding Bitcoin and probably sold at the top. This is just a propaganda to make the price worst so I don’t buy anymore if someone whoever he/she is make a bold statement about Bitcoin because Bitcoin will never die.

If Bitcoin will have zero supporter in the future, It means that I’m already gone in this world.

[Questat]

The bear season isn't finished yet, I think we have to prepare for the worse and more dead times for Bitcoin.

I have seen recently that Bitcoin is moving back close to $20k, a short pump might lead to something a huge dump in return. I was thinking now for $15k, might this be possible?

It has to say that the month of June is more troublesome, I expect more panic selling rather than accumulations.

[Wilhelm]

The bear season isn't finished yet, I think we have to prepare for the worse and more dead times for Bitcoin.

I have seen recently that Bitcoin is moving back close to $20k, a short pump might lead to something a huge dump in return. I was thinking now for $15k, might this be possible?

It has to say that the month of June is more troublesome, I expect more panic selling rather than accumulations.

It's both
- Average joe is panic-selling
- Margin traders are getting their asses sold
- Whales are accumulating

[freedomgo]

It's either a generational buying opportunity with bitcoin being the most oversold it's ever been,

It's a buying opportunity, it will not be bear market all the time and I think the current price now is already very cheap.
We can make profit in just a short period of time if we have the courage to buy now.
When they are fearful, that's the time to take advantage of the weak hands.

or it's the end of bitcoin and it's finally dead LOL

NO! NO! NO!..

[stompix]

$1000 btc would be a dream come true

$1K would be a disaster.

I know on this forum people believe in Bitcoin almost like they believe in god, but it costs a lot more to go down than it does to go up to begin with. If going down from $10K to $1K is a 90% downside, going up from $1K to $10K is a 1000% upside.

It's because they only think of themselves and they ignore one thing.
For bitcoin to make a comeback after 1k you will need a ton of money, just as how to recover to 68-70k you need a lot of money since the stonk hands-only buy in the dips and will not buy any more once it goes over let's say 30k, who will prop up the price, who put in enough money to cover the ones taking their profits? Not 10$ DCA for sure!

1k? It will be a complete disaster, you will end up with hardcore bitcoiners buying all that at 1k, and who will come with the money? The only reasonable source will be pump and dumpers who will buy at 2k and dump for 100% profit back at 2k, taking even more money out of the scheme!

And if it goes to 1k, what about the reputation? Hedge against inflation my ass!
Security? If it goes to 1k the miners left in the business will not be able to resist a 51% even from one company, for example, Riot will have more hashrate than needed for that, and of course, it will be out of business and available to be bought at 1 dollar plus liabilities.

[Ektra]

I'm not sure at what point the community collectively decided that April'13 was just a roadbump on the way to November '13, but at the time it was very much viewed as two separate runups, and the '14-15 bear market went far below the april 13 ATH. The market has slowed down a LOT since then, plus we have big money investors who seem to be truncating the blowoff tops. If, as I suspect, the current market is a macro slow motion version of 2012-14, the bottom will be close to 10k, and we'll have multiple years of sideways and shakeouts before there's another strong bull. We may see a false hope bounce similar to november 2014 before the bottom actually happens.

[coolcoinz]

I agree that 1k would be a disaster. If any of you think 1k would be an opportunity, tell me at which level a stock is considered as dying. At -80%? 90%? 99%? There has to be a point at which people would say no, I'm not buying this shit that's in a constant downtrend. For most people a stock has to deliver to be an opportunity. Something that gains 200% and loses 80% of it in the bear market delivers. A stock that gains 200% and then loses more than it gained in the last 2 years becomes too risky.


If bitcoin went to 1k right now I'd start asking myself what's wrong with it that it wiped out the 2017 bull market. What's wrong that it's lower than it was in the covid crash.

Forming a lower low than 3k would make people run away from bitcoin because something would have to be fundamentally wrong for it to happen 1.5 halvings later.
Also, we are already below mining profitability, which is why went through that 20-17K crash. That was miner capitulation. The same thing happened in 2018 when we fell below 5k.

[palle11]

Panic everywhere but vetirans know it that whether history or not repeating itself, bitcoin capitalization will increase after a while a the bear itself will become the history. Bear time is buying time for sure. The dead instances of bitcoin isn't dragging bitcoin down, what is happening in bitcoin price is history like we know, bear is normal and bull likewise.

[darkangel11]

If you look at logarithmic models then this was expected to happen after the next halving.

True, although if we were to fall from a new top of something like 200k USD to a new low of below 65k, I wouldn't be as surprised as I am now. I'm sure you understand

It's a buying opportunity, it will not be bear market all the time and I think the current price now is already very cheap.

Doesn't mean it cannot be cheaper. Not trying to troll here or anything, just that for me it felt cheap and oversold at 30k
Now it's starting to feel more like a disaster.

We can make profit in just a short period of time if we have the courage to buy now.
When they are fearful, that's the time to take advantage of the weak hands.

I'm not looking for that. I'm not a trader.
I don't want to see bitcoin drawn down back into nothingness by banksters and scam stable coins.

$1000 btc would be a dream come true

90% of ATH which is 6900~7K.
Although this is unlikely, you must be prepared for all options.
What worries me is not to what extent we will go down, but the continuation of being below the $19,200 long support level (200 MA)
I remember a similar case when Covid-19 was first declared a pandemic in March 2020 and the price kept going below that level by more than 10% but the bounce back was fast.

That's what scares me too. This selloff with no bounces. Red week after red week, no support at the 200 week, no immediate buy back from below 20k.

I'm not sure at what point the community collectively decided that April'13 was just a roadbump on the way to November '13, but at the time it was very much viewed as two separate runups, and the '14-15 bear market went far below the april 13 ATH. The market has slowed down a LOT since then, plus we have big money investors who seem to be truncating the blowoff tops. If, as I suspect, the current market is a macro slow motion version of 2012-14, the bottom will be close to 10k, and we'll have multiple years of sideways and shakeouts before there's another strong bull. We may see a false hope bounce similar to november 2014 before the bottom actually happens.

Was the rundown in 2014 a normal event? It went much lower than it naturally would because MtGox went bankrupt and started all that drama that dragged on for years.

I was expecting a bounce when we fell below 35k and then we fell again to 21k with no bounce and then again to 17k that bounced a bit and all of it was on low volume. Really strange if you compare it with 2014 and 2017 where weekly volumes were 600k BTC and now we're breaking the same levels (20k) but with only 100k weekly volume.

[goaldigger]

If you look at logarithmic models then this was expected to happen after the next halving.

Many expect this drop since the price failed to break the resistance and its happening now. This might be the complete cycle of Bitcoin and after this, we can expect it to slowly rise again. $100k for this year are even more impossible to achieve, but in long term we can get there. Maybe in the next halving, BTC can have another high run to achieve new ATH. Invest patiently right now and don’t expect that much for BTC, bear is still in the market.

[EdenHazard]

For sure margin trader take a big role here .

The only thing that dead is those people who doing margin trading and have no stop loss in it but greed. They wiped out now and the market has a fuel to go to the moon , such a scary market isn't it?
Today is the day until we see another dump coming in the next 12 hours or so.
Nothing guaranteed.