Today is the day

[Wilhelm]

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.

100k will be here sooner than you think....

[1715341747]

1715341747

[Epaper]

When the price of bitcoin plunged so deep from the ATH level many speculated that bitcoin would die. But in reality it never happened. If people are experienced and have been investing in bitcoin for a long time then the drop in the price of bitcoin is not surprising, they even take advantage of the price drop situation to buy and increase their portfolio and hold on for the long term to get big profits someday.

[Inspiron14]

When the price of bitcoin plunged so deep from the ATH level many speculated that bitcoin would die. But in reality it never happened. If people are experienced and have been investing in bitcoin for a long time then the drop in the price of bitcoin is not surprising, they even take advantage of the price drop situation to buy and increase their portfolio and hold on for the long term to get big profits someday.

very good statement and it's true Bitcoin is not going to die, old traders and investors know that too,
when the market is bearish many people say "Bitcoin is Dead" but look what happens now? is the price of 1 Bitcoin = $20000 a cheap price? Of course No!,
when compared to 10 years ago it was only a few dollars, so why think about bitcoin died? buy and hold is the answer

[Lucius]

100k will be here sooner than you think....

Do you have some reliable information or do you feel that it could happen soon?

People understand the word "soon" differently, so for some it will be in a couple of weeks or months, and for some maybe a few years. If you tell an average investor who has no knowledge or patience that he will have to wait 2-3 years for Bitcoin to reach $100k, he will probably be disappointed and will not think that now is the right time to invest. Unfortunately, most only want a quick profit, so they will play the wrong card again at the wrong time and fall into the trap again.

[Wilhelm]

100k will be here sooner than you think....

Do you have some reliable information or do you feel that it could happen soon?

People understand the word "soon" differently, so for some it will be in a couple of weeks or months, and for some maybe a few years. If you tell an average investor who has no knowledge or patience that he will have to wait 2-3 years for Bitcoin to reach $100k, he will probably be disappointed and will not think that now is the right time to invest. Unfortunately, most only want a quick profit, so they will play the wrong card again at the wrong time and fall into the trap again.

8 years of watching Bitcoin charts

After every bottom an ATH is created after about 200 days.
The ATH tends to be a multiple of the last ATH. This means that 100k should arrive in 100 days or so.

Bitcoin is currently oversold and undervalued.

Other than that there is a big chance institutional money will enter the game if the SEC approves the ETF.

[Lucius]

After every bottom an ATH is created after about 200 days.
The ATH tends to be a multiple of the last ATH. This means that 100k should arrive in 100 days or so.

Even if the bottom is reached (and we can’t say that with certainty), 200 days is just over 6 months, and a new ATH before the end of this year would be a really big surprise. While there are indications that the SEC could finally give in under the pressure of Grayscale, I wonder if the spot BTC ETF will really have as significant an impact on Bitcoin as most imagine?

The fact is that the US market cannot be compared to the Canadian or Australian market where such an ETF already exists, but I don't remember reading somewhere how much money we are potentially talking about when it comes to the US?

[dragonvslinux]

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

The last statement I generally agree with, not quite that it's the end of Bitcoin, but that a 10 year bull market could well end with a 20 year bear market, this has always been the risk really. I guess for the older generations this would be a reason to capitulate and realise losses or otherwise take profits, but maybe for the younger generations there will still be a reason to hodl. Baring in mind Gold went up 20x in value from 1970 over a decade, before going into a two decade long bear market until 2000. But in the long-run, it's still worth 3x more than in 1980, even if that's not a very impressive rise.

As for the 200WMA, we have closed weeks below it numerous times, such as in late 2015 for mutiple weeks in a row as well as in 2020, so a single week close below doesn't confirm so much imo. However breaking the $17.5K, and continuing further down would likely confirm a true break of this support, but fortunately this has yet to happen. For reference sake it's only the 50 Month MA that price has never closed below.

[justdimin]

As for the 200WMA, we have closed weeks below it numerous times, such as in late 2015 for mutiple weeks in a row as well as in 2020, so a single week close below doesn't confirm so much imo. However breaking the $17.5K, and continuing further down would likely confirm a true break of this support, but fortunately this has yet to happen. For reference sake it's only the 50 Month MA that price has never closed below.

I think that would be a bit difficult to break under 17.5k that quickly. I mean it's not impossible but for that to happen we need to really see it go down a lot more. The best thing for the time being is not to have hopes from the indicators but more like having a bit of trust in the system itself. That way we could be doing a lot better in the long run.

Does it mean that we should remove indicators completely out of our lives? No of course not, just means we should not make predictions based solely on the indicators and what they are showing, sometimes other stuff could give you a lot better results as well and we could take a look at all of them.

[btc_angela]

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

As the saying goes, there's always a first time for everything. So I would say that is the former, a good buying opportunity, as you can go back in 2017 and says hey I bought it along that time line. 

And now after that lowest low, we've bounce back above $20k again, so it's just the question again, is the bottom in? But we will see, maybe we can go down a bit further to $15k or just bounce back in the $30k'ish.

[GreatArkansas]

A lot of people are really expecting the $20,000 as a huge support level because for the last bull run 2017-2018 it was the peak but the worst part came, it fall below that level which is around $17,000.
I am really worried about the Bitcoin now because of what happened, I also expect the bottom is only $20,000 for the recent dump.

But now I feel relieved that we are back above $20,000.

[dansus021]

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.

This was i am afraid off you are thinking on 15K what i am thinking is much lower 10K but since so many firm/company that join bitcoin i think we gonna se e the worse at 18-15K


inflation is high, the fed increse interest rate, war and covid drive recession economic disaster yada yada yada happen at the same time 

but as far i know market always up and down guys. start to pray  and dont lose hope till we can see another ATH

[adaseb]

Yeah I was a buyer at the 200 WMA and so where many people. And I am pretty sure the $20K also had tons of bids in that area. For both of those to fail it means that there was huge supply pressure and just not enough demand.

Last 2 days were stable however it’s hard to call it a bottom yet. We can trade sideways for a while and when the GDP results come out and if it’s confirmed we are in a recession then I don’t see us rallying anytime soon. Especially since the next CPI might be high and fed will hike again.

[bitterguy28]

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

I only take this as a way of bitcoin to tell us the right time to Buy more and nothing else , I even not looking at this as dumping instead a discounted buying  time .

Bitcoin is Finally dead , is always a Overstatement , and this will never come to reality and that is for sure, it may dump many time s but it will always climb high and high .

[Rufsilf]

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

I only take this as a way of bitcoin to tell us the right time to Buy more and nothing else , I even not looking at this as dumping instead a discounted buying  time .

Bitcoin is Finally dead , is always a Overstatement , and this will never come to reality and that is for sure, it may dump many time s but it will always climb high and high .

Buying more? Unless if you can afford to lose them. I literally don't urge people to buy but rather make their decision. Many people had lost because of discounted prices as they only think that after they bought Bitcoin they can make a profit right away which is not the real story in crypto investment. Things sometimes happen (maybe often) that patience is always the key in here, nothing else. If we can manage to do it, I highly recommended to take the risk but if they are still in doubt and have no long-term mindsets, better to tell them not to try.

[traderethereum]

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

I only take this as a way of bitcoin to tell us the right time to Buy more and nothing else , I even not looking at this as dumping instead a discounted buying  time .

Bitcoin is Finally dead , is always a Overstatement , and this will never come to reality and that is for sure, it may dump many time s but it will always climb high and high .

I also think this is the right time to buy bitcoin at a low price.
We may not see prices this low again in the future, especially if the bitcoin price can reach above $100k.
But I don't think this is the end of bitcoin because, after this, bitcoin still has a big possibility of increasing again.
After we've seen bitcoin's movement from the past few days to today, the price has returned to $21k again and hopefully, the last few days' declines will be the last.

[stompix]

Last 2 days were stable however it’s hard to call it a bottom yet. We can trade sideways for a while and when the GDP results come out and if it’s confirmed we are in a recession then I don’t see us rallying anytime soon. Especially since the next CPI might be high and fed will hike again.

I'm starting to look more and more at the markets these days and by the moment European ones open and go in the same direction as Asia you can be sure that bitcoin will do the same for the day, Nikkei is up by nearly 2%, guess what Bitcoin rallied again too. Despite whatever claims some have, it has become so correlated right now every trader probably will look more at major events in the real world than announcements in the crypto world so probably those hikes will probably define the coming months.

As for the sideways, we've been at 30k for a month, eveyone was almost sure it won't fall too much below because previous ATH, 200WMA and look what happened, one week sideways at 20k and some really think is it will be over just like that.

I also think this is the right time to buy bitcoin at a low price.
We may not see prices this low again in the future, especially if the bitcoin price can reach above $100k.

Remember when you were saying 45k was a perfect buying opportunity?

[Wong Gendheng]

I hope that the price of Bitcoin is no longer dropped below $ 20k and of course $ 17600 is The Bottom, and we wish to congratulate those who buy at $ 17K, if they sell now, then you have more than 20%profit, this is what we like From Cryptocurrencies, profit opportunities are very large in a short time.

[Oasisman]

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

You can't call Bitcoin as dead when whales are actually accumulating. This current Bitcoin fall down will definitely give rich people another opportunity to became even richer in the next couple of years. And those who are trying to get rich overnight will probably buy when Bitcoin is on the process of recovering.
If you've noticed after Bitcoin hit $18k, people are rushing to accumulate, thus causing Btc to bounce back to $21k.
Well, I'm still expecting Bitcoin to go even below $15k and I'm not calling dead either even if it falls below $10k.

[Poker Player]

8 years of watching Bitcoin charts

After every bottom an ATH is created after about 200 days.
The ATH tends to be a multiple of the last ATH. This means that 100k should arrive in 100 days or so.

What has happened in the past does not have to be repeated now, especially considering that the history of Bitcoin is very short. If there was an inexorable repetition of cycles, we would have surpassed $70K last year, as all predictions based on a repeat of the patterns in Bitcoin cycles predicted.

I don't want to sound too negative either, on this we are in agreement:

Bitcoin is currently oversold and undervalued.

But from there to making predictions on the price based on repeating the patterns of previous cycles is a long way off. What happens in real life, such as the banning of miners in China, or the policy of central banks that have started draining liquidity, have more influence on the price than the lines we can draw on a chart based on the regularities we see from the past.

[yhiaali3]

For me, and for many, too, it's "generational buying opportunity with bitcoin being the most oversold it's ever been" that's perfectly clear to me.
  This bad news and the bear market will never affect Bitcoin fans and holders because they have heard such talk “Bitcoin dies” many times before, and each time these failed pessimists were very disappointed as Bitcoin came back stronger than it was and made new highs, This time also will not be different from the previous times. It is only a matter of time when we will witness a new ATH and all those who missed this precious opportunity from their hand will regret it.