Was $17.5K the low?

[wxa7115]

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.

While we may see a recovery during the next month, the bear market is just at its beginning stages and we still have to go through a long period in which the price will not move much and it could suffer some periodic downturns.

So even if the 17k level was the lowest we will ever see I think it is possible we will touch it several times, as I doubt the bears will let the price of bitcoin grow that much without offering some fierce resistance against it.

[1714247829]

1714247829

[bitzizzix]

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.

While we may see a recovery during the next month, the bear market is just at its beginning stages and we still have to go through a long period in which the price will not move much and it could suffer some periodic downturns.

So even if the 17k level was the lowest we will ever see I think it is possible we will touch it several times, as I doubt the bears will let the price of bitcoin grow that much without offering some fierce resistance against it.

There is still a possibility of a return to the 17k price and currently the bitcoin price is struggling to surpass 20k however what we are seeing is only rising slightly above 20k and back again, and currently holding at 20k.
according to some news i know if bitcoin price can't move above 20k and back below 20k there is a possibility to go back to 17k or lower, this is an unpredictable bear market where investors are hesitant to return.

[BITCOIN4X]

4/22 of the people participating in the poll still seem pretty sure that $17.7K is a low point. While the other 15 are still thinking about other lows (myself included). Although since hitting $17.7K we've seen a bit of a price recovery, it's still pretty convincing that another low will be hit so I think the current poll results are pretty reasonable. While the poll won't be of much help, it's just an idea of ​​what traders believe in these volatile market conditions.

So far, traders' reactions to FUD have been swift. The market is on fire for a moment as panicked traders will surely try to secure their capital in fiat or stablecoins. But I still strongly believe in the potential that bitcoin has in the long term, so even if the bottom is hit, the price will rebound. Hope ATH can still happen in 2024 or 2025. I have some doubts about the rest of the year and 2023 about ATH, so 2025 is a good choice for me.

[JohnBitCo]

4/22 of the people participating in the poll still seem pretty sure that $17.7K is a low point. While the other 15 are still thinking about other lows (myself included). Although since hitting $17.7K we've seen a bit of a price recovery, it's still pretty convincing that another low will be hit so I think the current poll results are pretty reasonable. While the poll won't be of much help, it's just an idea of ​​what traders believe in these volatile market conditions.

When bitcoin hit 17.5$, it cannot go further straight down and there was always a chance of pullback. In event of a market dump, there is always a relief rally. We are seeing the price is hovering between 20-21K for last few days but unable to stay above 22-23K. This means that people are still not confident to buy bitcoin now and perhaps we may see bitcoin dumping again. If this happens, it won't be good for bitcoin and we may see more blood in the market.

[lornadane]

4/22 of the people participating in the poll still seem pretty sure that $17.7K is a low point. While the other 15 are still thinking about other lows (myself included). Although since hitting $17.7K we've seen a bit of a price recovery, it's still pretty convincing that another low will be hit so I think the current poll results are pretty reasonable. While the poll won't be of much help, it's just an idea of ​​what traders believe in these volatile market conditions.

When bitcoin hit 17.5$, it cannot go further straight down and there was always a chance of pullback. In event of a market dump, there is always a relief rally. We are seeing the price is hovering between 20-21K for last few days but unable to stay above 22-23K. This means that people are still not confident to buy bitcoin now and perhaps we may see bitcoin dumping again. If this happens, it won't be good for bitcoin and we may see more blood in the market.

It's not that we have seen blood in the market for a long time and for those who are mentally strong to see the price drop to $17, maybe they are used to it since that day bitcoin fell to $17 thousand and they saw the price of bitcoin go up to $20 thousand and I think for now  this and the next few months bitcoin will continue to play at the bottom price, which is still around $20 thousand or $21 thousand.

[bitterguy28]

4/22 of the people participating in the poll still seem pretty sure that $17.7K is a low point. While the other 15 are still thinking about other lows (myself included). Although since hitting $17.7K we've seen a bit of a price recovery, it's still pretty convincing that another low will be hit so I think the current poll results are pretty reasonable. While the poll won't be of much help, it's just an idea of ​​what traders believe in these volatile market conditions.

When bitcoin hit 17.5$, it cannot go further straight down and there was always a chance of pullback. In event of a market dump, there is always a relief rally. We are seeing the price is hovering between 20-21K for last few days but unable to stay above 22-23K. This means that people are still not confident to buy bitcoin now and perhaps we may see bitcoin dumping again. If this happens, it won't be good for bitcoin and we may see more blood in the market.

It's not that we have seen blood in the market for a long time and for those who are mentally strong to see the price drop to $17, maybe they are used to it since that day bitcoin fell to $17 thousand and they saw the price of bitcoin go up to $20 thousand and I think for now  this and the next few months bitcoin will continue to play at the bottom price, which is still around $20 thousand or $21 thousand.

we are use to it if we know and truly understand the market , we knew that  increase always followed by decrease and vice versa so admit the fact that losers will always be those weak hands that panicked when there is a situation like this and never tend to keep their hands on to hold the coins.

[Mario Yamasaki]

I hope so, if the price drops again below $ 17k then the opportunity to fall more deeply, maybe it will drop below $ 10K and so on, today the market drop is more than 3% and I hope that it will not be below $ 20k, this is which sometimes makes investors impatient and choose cut loss.

[ethereumhunter]

I hope so, if the price drops again below $ 17k then the opportunity to fall more deeply, maybe it will drop below $ 10K and so on, today the market drop is more than 3% and I hope that it will not be below $ 20k, this is which sometimes makes investors impatient and choose cut loss.

Hopefully, the price doesn't drop below $20k and stays at $20k. Hopefully with the decline in bitcoin prices this time it won't make investors panic and choose a cut loss and can survive in this situation. There is much more hope that we would like to convey that the market doesn't fall too deep because if that happens again, there may be people who will sell their bitcoins quickly because they don't want to see the value of their investment drop any further.

[Silberman]

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.).

Taking into consideration that bitcoin went through a bull run when we were in the most difficult part of the pandemic then I think that it has the potential of growing even during an economic crisis, however for that we need the halving and since such an event it is not going to happen until 2024 then we still have at least one year or one year and a half of difficult market conditions we need to endure, so we need to exercise caution and hold our coins no matter what, as right now it does not make sense to sell our coins at all.

[tygeade]

I hope so, if the price drops again below $ 17k then the opportunity to fall more deeply, maybe it will drop below $ 10K and so on, today the market drop is more than 3% and I hope that it will not be below $ 20k, this is which sometimes makes investors impatient and choose cut loss.

Hopefully, the price doesn't drop below $20k and stays at $20k. Hopefully with the decline in bitcoin prices this time it won't make investors panic and choose a cut loss and can survive in this situation. There is much more hope that we would like to convey that the market doesn't fall too deep because if that happens again, there may be people who will sell their bitcoins quickly because they don't want to see the value of their investment drop any further.

I hope for the same thing, in fact I am 99% sure that everyone who holds bitcoin right now probably hopes for the same thing as well. However, just in case that it doesn't happen, we should also realize that the best thing to do right now would be getting ready for a big drop, not that we would want it to happen but we need to be ready if it happens.

I personally stashed some BUSD aside, not a lot but good enough to enter one more time which means that if it ever drops then I would be there to get in, and drop my average a bit more down. If it doesn't happen then I already have a good chunk of btc, which means I would be profiting from the increase anyway.

[arwin100]

so we need to exercise caution and hold our coins no matter what, as right now it does not make sense to sell our coins at all.

You end up 2 years of suffering if you didn't do cut loss if you want to trade to gain on current market condition. Waiting for next halving while your money stuck is so hard especially if we don't have enough money to spend to use upon buying more cheap bitcoins. I prepare to sell when it needed and plan for the next action because from this we will get a high chance of recover especially if we buy the top tier coins listed in the market.

[Wong Gendheng]

Today the market gets a big test, the price of Bitcoin is $ 19K and the opportunity to fall again is very large, but if you look at the previous trend then I am optimistic that the price will not drop below $ 17.5k, maybe tomorrow or the day after tomorrow will enter $ 18k but I'm sure soon soon go up again and return to $ 20k.

[barbara44]

I hope for the same thing, in fact I am 99% sure that everyone who holds bitcoin right now probably hopes for the same thing as well. However, just in case that it doesn't happen, we should also realize that the best thing to do right now would be getting ready for a big drop, not that we would want it to happen but we need to be ready if it happens.

I personally stashed some BUSD aside, not a lot but good enough to enter one more time which means that if it ever drops then I would be there to get in, and drop my average a bit more down. If it doesn't happen then I already have a good chunk of btc, which means I would be profiting from the increase anyway.

That is the better method for sure. There are tons of people out there who think that they could do as well as they imagine with the drop they could get a huge amount right away now and they would get a huge profit right away. If they could instead sit down and just think, they will realize that being ready for any case would be a better method.

I personally live all my life as a calculation of investments, what would happen if I do this, what would happen if I do that. It's like chess to me, and yes sometimes I lose, and that's normal because you can't win them all but usually if you are ready for everything then you are going to end up winning.

[fzkto]

It seems to me that there is no point in guessing where the bottom is now, because if it hasn't happened yet, there will probably be a rebound soon. It is unlikely that bitcoin will suffer the fate of the dotcoms, so I don't think the price will return to very low levels. Even if we have to see 10k, I am sure it will not be long and will be a very good opportunity to buy more bitcoin.

[wxa7115]

It seems to me that there is no point in guessing where the bottom is now, because if it hasn't happened yet, there will probably be a rebound soon. It is unlikely that bitcoin will suffer the fate of the dotcoms, so I don't think the price will return to very low levels. Even if we have to see 10k, I am sure it will not be long and will be a very good opportunity to buy more bitcoin.

I agree, bitcoin is the Google or the Amazon of the dot com bubble, they went down in value during that time but then they recovered, and if we take a look at the charts of those two companies the dot com bubble now seems like nothing but a small drop.

So the same will happen with bitcoin, however it is going to take some time before the recovery begins and since that is the case then we need to take advantage of the circumstances and buy bitcoin as long as it is available for such a low price.

[nicedreams]

Since it was not sitting at $19k, only shy a little more away from $17.5k, I say it going to break that price and set a lower price. Though, $19k seems like the resistance point for BTC right now. Keep seeing any time it hit lower than $19k, strong buying to drive the price back up. Maybe someone DCA at that point? What would happen when it finally breaks the $19k?

[Sebas.tian]

Today the market gets a big test, the price of Bitcoin is $ 19K and the opportunity to fall again is very large, but if you look at the previous trend then I am optimistic that the price will not drop below $ 17.5k, maybe tomorrow or the day after tomorrow will enter $ 18k but I'm sure soon soon go up again and return to $ 20k.

We are still in the bearish market, which many people are still finding it difficult to understand in this season. I think, the price will not drop more than $17,000 before it will hit back to $50,000 for people to start earning from their investment. I believe, this is the last time we are going to experience bear market because there are still opportunity for people to buy more of bitcoins and hold for the price to move higher before the end of this month before they can earn well from the market. Bitcoin price will definitely increase higher before the end of this year 2022, for people to stop panicking about the bear market that is causing people losses in the community.

[Tomohisa]

It seems to me that there is no point in guessing where the bottom is now, because if it hasn't happened yet, there will probably be a rebound soon. It is unlikely that bitcoin will suffer the fate of the dotcoms, so I don't think the price will return to very low levels. Even if we have to see 10k, I am sure it will not be long and will be a very good opportunity to buy more bitcoin.

I agree, bitcoin is the Google or the Amazon of the dot com bubble, they went down in value during that time but then they recovered, and if we take a look at the charts of those two companies the dot com bubble now seems like nothing but a small drop.

So the same will happen with bitcoin, however it is going to take some time before the recovery begins and since that is the case then we need to take advantage of the circumstances and buy bitcoin as long as it is available for such a low price.

Yes, I think we might see Bitcoin drops more but this isn't over for Bitcoin. If anything we've learned over the crypto market, dip and hard correction is a normal part of its cycle. If today we're bear then one or two more years, we'll back to bear. Those who see the market now, feel disappointed and rage quit are missing a big chance. 17.5K is the lowest now, maybe it will go lower than that but everyone has to agree there is a high chance it will back to higher in the next few years.

[FlamingFingers]

If you are the type that always like to long, rather than shorting, my advice to you would be that you should consider more shorting this time around because we are in the bear market, for now the whales are destroying almost every technical analysis with their manipulation, I strongly have the belief in my opinion though that bitcoin will definitely go below 17.5k, that's not the low, you guys should be watchful of the ending of this month July, its really gonna be a huge blow for those who long, new all time low for the year is coming, don't over leverage!

[Jating]

Since it was not sitting at $19k, only shy a little more away from $17.5k, I say it going to break that price and set a lower price. Though, $19k seems like the resistance point for BTC right now. Keep seeing any time it hit lower than $19k, strong buying to drive the price back up. Maybe someone DCA at that point? What would happen when it finally breaks the $19k?

DCA is one of the best strategy you can implore in this kind of situation. Regardless if we are going down below $17,500, you can make a lot of profit in the future, just go long or at least have the mentality to hold as long as you can. It might be tough for some of us, but definitely doable.

Yes, there is a possibility that it can really drop in the coming months, but it doesn't mean that bitcoin is going to die or something to that effect. Again it's going to be a mental game going to the next bull run.