Was $17.5K the low?

[Husires]

Technical analysis: max bottom (at the present time) is between 12K to 14K, which represents the typical correction of the previous ATH cycles.

The problem is that analyzes follow the trend without knowing the reason.

• if you asked three months ago about the price expectations, you will rarely find someone arguing about the bottom.
• that bottom which (in the past) was about 30k or at levels above 20k according to the most pessimists.

What I mean is that as soon as we go down to those levels, more negative news will surface, meaning if the 12K levels are tested, you will find the fearful people show the 8K analysis without a convincing reason.

Bitcoin Average Mining Costs dropping down which is a good indicator.

[1714276301]

1714276301

[1714276301]

1714276301

[1714276301]

1714276301

[1714276301]

1714276301

[1714276301]

1714276301

[1714276301]

1714276301

[spiderbrain]

I have been holding since before HODL was a thing, and will continue to, but I think we could go lower, maybe $15k, briefly. There just wasn't enough deep fear-driven volume in the low to be the low, IMO.  Especially considering that we dropped below the previous ATH, that is huge.  Magical thinking was supporting the $20k level, now we need a mountain of fear and blood to be the new foundations.

We'll be all back to normal in a few weeks though, enjoy the ride







P.S. this has been confirmed by sauces.

[Kopetunto]

there are still many who speculate and choose Bitcoin down to $14k?, I don't think it's possible,
because $17.5k is a strong support for Bitcoin, so why think about $14k? I myself still hold,
and I'm sure many traders also hold bitcoin for the long term

[proudhon]

Ok, here's what's going to happen. And I've done all the research and science, so you don't have to. First, bitcoin will never be above $20k for more than 1 month ever again. I don't mean this year, or over the next 2 years. I mean ever. Will never happen. So get any hopes of new ATHs completely out of your head. Second, the price of bitcoin at the end of this year will be much, much, much lower than the price right now. Finally, and here's where the science gets a little tricky. Is the price sustainable between, say, $5k and $10k? Maybe, but not likely. My math shows that bitcoin has the highest sustainability quotient between $750 and $2,342; and that's where I believe we're headed. If I wanted to own bitcoin again (I don't because USD is a much safer long term investment), then I'd stagger entries mostly between that range, but I would definitely place some buys in the low hundreds, like around $250 in order to catch some of sharp moves we'll see over the next 2 years.

[OgNasty]

I’d like to think we’ve seen the low. There was no clear spike in volume with a capitulation moment at the low though. Maybe that’s a result of this being an orchestrated attempt to liquidate leveraged players, but if history is any guide I think we still have lower to go before the next leg up. That doesn’t mean this isn’t a good time to buy, but buy slowly with a plan and avoid leverage.

[proudhon]

I’d like to think we’ve seen the low. There was no clear spike in volume with a capitulation moment at the low though. Maybe that’s a result of this being an orchestrated attempt to liquidate leveraged players, but if history is any guide I think we still have lower to go before the next leg up. That doesn’t mean this isn’t a good time to buy, but buy slowly with a plan and avoid leverage.

The best and most scientific strategy right now is high leverage short positions. In fact, that is guaranteed to be the most profitable trade of this decade as bitcoin continues its collapse.

[Yaunfitda]

I’d like to think we’ve seen the low. There was no clear spike in volume with a capitulation moment at the low though. Maybe that’s a result of this being an orchestrated attempt to liquidate leveraged players, but if history is any guide I think we still have lower to go before the next leg up. That doesn’t mean this isn’t a good time to buy, but buy slowly with a plan and avoid leverage.

Well then for others they have to wait for the opportunity to come again, because as this point, we've bounce again above the $20k support. So maybe for this year, we have seen the lows. Nevertheless, I also think that next year, we will still have to go lower and then leg up on 2024. So it remains to be seen and congrats to those who are still holding and then buy more when we have $17.5 a couple of days ago. That was the perfect opportunity for this year.

[19Nov16]

I hope there will be no more decline after $ 17K, if prices continue to fall will make FUDS from haters more massive, even many continue to campaign to kill cryptocurrencies, and the main target is to make bitcoin continue to dump so investors lose trust in the future cryptocurrencies.

[Silberman]

I hope there will be no more decline after $ 17K, if prices continue to fall will make FUDS from haters more massive, even many continue to campaign to kill cryptocurrencies, and the main target is to make bitcoin continue to dump so investors lose trust in the future cryptocurrencies.

I do not know if the price will not go even lower than 17k but what I am sure about is that those which oppose bitcoin will use every single trick they have to try to push the narrative that bitcoin is done for and that it is better to sell it now, obviously against people like us this tactic is not very effective, but against those which are desperate and they are facing huge losses such tactics have a very high chance to succeed.

[Lubang Bawah]

The current price of bitcoin has the opportunity to drop again below $ 20k, but I hope the price will not drop below the lowest level ever before, for those who see big profits in the future then this is a good opportunity to buy more because Moments like now not necessarily happen again, so we are waiting for the price will drop, if it happens then I suggest to buy more.

[lepbagong]

The current price of bitcoin has the opportunity to drop again below $ 20k, but I hope the price will not drop below the lowest level ever before, for those who see big profits in the future then this is a good opportunity to buy more because Moments like now not necessarily happen again, so we are waiting for the price will drop, if it happens then I suggest to buy more.

I also seem to predict that a decline of more than $20K will be possible, if the current analysis is that this year is expected to be the same as what happened in 2018. So at this time the decline is still not as high as 2018 and will probably continue to fall and I I think it could be under $10K.

but actually this is a momentum to continue buying and investing, but it's better not to go for the lowest altcoin even though the profit can be bigger but the risk of missing from the market is also big.

Bitcoin investment will obviously still be profitable but it will be a fairly long investment and will have to wait until the next halving period is over in order to increase again.

[Kadal Ijo]

Many predictions that Bitcoin has the opportunity to drop again, I keep watching the price trend, the first thing I do when the price drops below $ 17k is selling a little balance, if the price continues to fall below $ 15k then I will buy more, anything can happen And this is what makes us have to have a strategy when investing bitcoin.

[yhiaali3]

In my opinion, Bitcoin’s arrival at 17,500$ may be the bottom at 80%, and 20% remains uncertain due to the presence of other influencing factors. In the coming period we may witness a price fluctuation between 20,000$ and 25,000$ for a period of time to establish a bullish bottom as I hope, of course we cannot confirm this Expectations are 100% because the market is currently very volatile due to the unstable economic and geopolitical conditions, so sudden events may occur that change all expectations. But according to my expectation, if Bitcoin manages to hold above $21,000 at the monthly close, this will have a huge positive impact and we will witness a strong rally in the market.

[peter0425]

Talking about this year? then maybe it is but if continuously looking for the lowest price ? so it maybe at least  10k will be on the road ,  as there are so many expectation either positive or negative ? yet there are bad things to come in our humble market.
so if you all are not ready to face that low? then best to deal with it now and take out your funds before you doubt all your decisions .

[boltz]

In my opinion , the end of the summer should decide the next cycle of Bitcoin price as usually it was like this on the previous bear periods so in this case 2 scenarios can happen :

1. Bitcoin will drop at the end of the summer under 15k and most likely keep dropping for the rest of the year.

2. Bitcoin will maintain the current price of 20k$ at the end of the summer and most likely will drop during the winter and beginning of the new year.

Now , you might ask yourselves, why 2 dump scenarios ? I really cannot see Bitcoin moving up in price this year and even more , I do see Bitcoin going down even in 2023. Will it recover ? I have no doubts that bitcoin will surpass at some point the new ATH that we have right now but.

[Silberman]

Talking about this year? then maybe it is but if continuously looking for the lowest price ? so it maybe at least  10k will be on the road ,  as there are so many expectation either positive or negative ? yet there are bad things to come in our humble market.
so if you all are not ready to face that low? then best to deal with it now and take out your funds before you doubt all your decisions .

At this point it is impossible to know where will be the true bottom of this bear market, many people including myself thought that it would be impossible for the price to go below the previous all time high and yet it did happen, so this opens the door for the price to reach even lower levels, now the price did not remained long below that level, but it happened which is something that should tell us that further drops are without a doubt a possibility we may be unable to escape.

[Ultegra134]

In my opinion , the end of the summer should decide the next cycle of Bitcoin price as usually it was like this on the previous bear periods so in this case 2 scenarios can happen :

1. Bitcoin will drop at the end of the summer under 15k and most likely keep dropping for the rest of the year.

2. Bitcoin will maintain the current price of 20k$ at the end of the summer and most likely will drop during the winter and beginning of the new year.

Now , you might ask yourselves, why 2 dump scenarios ? I really cannot see Bitcoin moving up in price this year and even more , I do see Bitcoin going down even in 2023. Will it recover ? I have no doubts that bitcoin will surpass at some point the new ATH that we have right now but.

I also share a similar view with you. I find it hard to believe that $17.500 was actually the bottom, and expect Bitcoin to crash even further in the near future. Likewise, I can't predict nor say when that'll happen, but I'm pretty positive that it will. Secondly, it's highly doubtful that we'll see any positive change within the next few months or even a couple of years, things aren't going to change for the better if the situation doesn't improve (high inflation, continuous war etc.).

[kotajikikox]

there are still many who speculate and choose Bitcoin down to $14k?, I don't think it's possible,
because $17.5k is a strong support for Bitcoin, so why think about $14k? I myself still hold,
and I'm sure many traders also hold bitcoin for the long term

actually it is not 17,500$ in which the strong support but it is 17,805 mate to be specific and yes this is the lowest we've got this month of June  in which the last month of 2nd quarter and if this ends will start the next chapter of the year as we will enter the 3rd quarter.
so lets assume that this is the lowest and there will never be more lowest from this.

[maydna]

there are still many who speculate and choose Bitcoin down to $14k?, I don't think it's possible,
because $17.5k is a strong support for Bitcoin, so why think about $14k? I myself still hold,
and I'm sure many traders also hold bitcoin for the long term

actually it is not 17,500$ in which the strong support but it is 17,805 mate to be specific and yes this is the lowest we've got this month of June  in which the last month of 2nd quarter and if this ends will start the next chapter of the year as we will enter the 3rd quarter.
so lets assume that this is the lowest and there will never be more lowest from this.

We don't know if the price will drop to $14k or stay at current prices and jump to higher prices. But if the price doesn't go down but instead goes up, we're missing out on buying bitcoins under $20k, and we never know when the price will hit a low again. June has almost turned into a new month, and I think many people will be curious about how the bitcoin price will be in the next month. But hopefully, next month will be a good start for bitcoin to rally and rise to higher prices.

[YOSHIE]

I've seen about the speculation game against Bitcoin's current decline, from what I've read, market speculators and crypto skeptics, it's starting to get difficult and it's a little complicated to say Bitcoin this year has decreased to $10k, $14k and so on.

To overcome the confusion in the current Bitcoin prediction game, many crypto experts are taking the middle ground for now, they are tired of guessing, the bottom line: the middle ground they take is 'experience' that has happened several years after the occurrence of ATH and before the occurrence of ATH especially Bitcoin.

Today Bitcoin dropped to the level of $ 20k, in a matter of 24 hours past $ 21k, which means that here the value of the speculation timeline is relatively slow to determine whether Bitcoin will rise again or fall again, For Bitcoin, this time I have to follow in the footsteps of Bitcoin experts in speculation and prediction based on experience and understanding that has happened.