Was 17600$ was the bottom ?

[virasog]

Yesterday the bitcoin price dumped to 17,600$. A lot of people are saying that the bottom would be 12,000$ or 15,000$. Some even think that 6000$ is on the cards. However, we have seen some recovery in the price and it is now above 19500$.

Maybe 17600$ was the bottom or do you think there is more dump in the coming days/weeks?

[1714580467]

1714580467

[1714580467]

1714580467

[1714580467]

1714580467

[1714580467]

1714580467

[1714580467]

1714580467

[1714580467]

1714580467

[darkangel11]

Just a couple weeks ago people were asking if 30k was the bottom and many thought so.
In the thread I made many people thought that we wouldn't fall lower and some who did thought that we'd go to 23k or 20k. For me going below 20k was also a huge surprise because we rarely touched any levels below 200 WMA. You can see that in the well known stock to flow model that we stopped following last year for the first time in many years.

After seeing the price drop below 20k I feel extremely bearish, like I've not been since 2014 when Gox collapsed. I feel like we could be going lower and lower even to 10k because of people's stupidity. Going to 17k meant large number of investors left the market with losses. I doubt anyone who sold below 20k did that with a profit and we're talking about thousands of bitcoins. This is going to lead to a year long bear market. I hope I'm wrong about this.

[hyudien]

Maybe 17600$ was the bottom or do you think there is more dump in the coming days/weeks?

Really don't know even personally I didn't think it would hit $17K before. But the $17K barrier has been breached and is likely to reappear. This is just speculation if you see the instability that is happening now if the price continues to break below $17K again maybe $15K can go down.

[cheezcarls]

Yesterday the bitcoin price dumped to 17,600$. A lot of people are saying that the bottom would be 12,000$ or 15,000$. Some even think that 6000$ is on the cards. However, we have seen some recovery in the price and it is now above 19500$.

Maybe 17600$ was the bottom or do you think there is more dump in the coming days/weeks?

The problem is that we don't know if it's the real bottom or not. We just have to be prepared for the unexpected happenings. Yes initially the bottom that we have initialized was around $30k as I have DCA'd with Bitcoin that time. Then it dropped down to $20k, thinking that it was the bottom again. I DCA'd the 2nd time around $21k+, and here we are at a loss again standing at $19.4k+ as of this time in posting the reply. It's just that we make sure that the amount we invest or trade is something we can afford losing and not going all-in.

[TheNineClub]

Yesterday the bitcoin price dumped to 17,600$. A lot of people are saying that the bottom would be 12,000$ or 15,000$. Some even think that 6000$ is on the cards. However, we have seen some recovery in the price and it is now above 19500$.

Maybe 17600$ was the bottom or do you think there is more dump in the coming days/weeks?

We have seen some recovery, but we still haven't felt the full impact of the Russian invasion on Ukraine, the full force of gass prices going up and food shortages, and that economic downfall will surely effect BTC prices. So I think it's still early to say what the bottom will ve, but it's definately a new set of variables we are working with.

[hatshepsut93]

A single day is too short term to predict anything. It could go to $22k tomorrow, or to $17k or stay at the same level. What is important is that the peak of a previous cyclle was broken on the downside, which happened for the first time in Bitcoin's history. Previously, Bitcoin had higher highs and higher lows, which was a sign of long-term bullishness, now this perception was weakened,

[teosanru]

Yesterday the bitcoin price dumped to 17,600$. A lot of people are saying that the bottom would be 12,000$ or 15,000$. Some even think that 6000$ is on the cards. However, we have seen some recovery in the price and it is now above 19500$.

Maybe 17600$ was the bottom or do you think there is more dump in the coming days/weeks?

Way too early to say this. This might be the final bottom btc might ever see or it might just be tiny relief pump just to trap the Bulls further in the net to go down even further. I think both the scenarios have pretty good probabilities of being true. But at this point in time i have an advise for people who think they can't see bear run to get out around an area of 28-30k if btc reaches around there because this bear run might last pretty long and we might see btc and especially alts going to complete rock bottom before they begin to shine again.

[Jating]

Yesterday the bitcoin price dumped to 17,600$. A lot of people are saying that the bottom would be 12,000$ or 15,000$. Some even think that 6000$ is on the cards. However, we have seen some recovery in the price and it is now above 19500$.

Maybe 17600$ was the bottom or do you think there is more dump in the coming days/weeks?

Yeah, I saw a lot of tweets saying to get your money out of BTC because it will collapse. Others predicting that we will see a continue dump to $15k to $12k.

But obviously, we've regained some grounds today as we go back to the support line of $20k.

So it's either this year, we will see some recovery to the upper $30k'ish, or collapse to $12k, as the bottom price.

[sunsilk]

It's back to $20k and this is the weekend, usually this is where the dump happens in the past but now, it is what people have seen as a great time to accumulate because for the past weeks bitcoin has been dumping.

We still don't know if that was the bottom but hopefully it was. Or this could also be a trap and it can be worsen and be quick again in dumping. If it continuous to recover up to $25k, then that can be a confirmation we're already out of the bottom.

[dansus021]

this should be in speculation but in my recent tweet https://twitter.com/41n_CuY/status/1538343118340505600

https://www.tradingview.com/chart/rAERMbmO/

max $10K but i down want bitcoin touch that level    is already bleeding red everywhere

[peter0425]

Yesterday the bitcoin price dumped to 17,600$. A lot of people are saying that the bottom would be 12,000$ or 15,000$. Some even think that 6000$ is on the cards. However, we have seen some recovery in the price and it is now above 19500$.

Maybe 17600$ was the bottom or do you think there is more dump in the coming days/weeks?

You have almost the same thread created just an Hour after another thread was created in speculation section here

https://bitcointalk.org/index.php?topic=5403237.msg60400853#msg60400853

though there is 500$ difference from the said thread , now we are looking for more lowering price and yet ?

Maybe it is the bottom? or this is the next lowering in the following days.

[mindrust]

Nobody really knows…btc may go to $10k if the fed keeps raising the interest rates. But on the other hand, the markets may have priced in the rate hikes already. If that’s the case then yes, $17600 should be the bottom. We will see what’s going to happen soon You should have a plan for every market condition.

[Ahli38]

looking at the current market conditions i think $17k is not the bottom level. because there is still the possibility of going down deeper.
like yesterday bitcoin is trying to recover price up to $20k and it's awesome. but it turns out that the rejection a few hours ago was still happening so that it went back down to $19k. and now as i write this it turns out that bitcoin is trying to get back up and has already hit $20k back. However, if this resistance reoccurs, several sources have mentioned that a potential drop back to the $16k area is possible. So keep an eye out for day traders. but for DCA I think you can start buying gradually from the next support after waiting for bitcoin to be rejected or not. just wait and see. because many analyst experts say the bottom potential is $11k-$14k. but of course we all hope that doesn't happen. because I imagined the altcoin price would crash. but for bitcoin of course the decline will not reduce buyers. in fact if we look at the purchase order book in the lower area it is waiting and very much. so that reflections may occur quickly. then DCA and monitoring the market is a wise choice.

[kotajikikox]

If we only we can tell this? then we are surely to make everything and purchase Bitcoin because of incoming  growth , but maybe ?  the fall is going to be more coming .

but make sure that you are ready to purchase anytime soon ,  and be ready to Keep holding till the Halving back in the next coming years.

[nullama]

In ten years this discussion will be interesting to read.

Short term changes in the price are basically impossible to predict, given that millions of people all around the world are buying and selling Bitcoin 24/7, independently.

What you can know, is that over the long term (4+ years) the amount of new coins entering the network will be lower. If demand continues at the same or higher levels, it would mean a higher price.

[Nrcewker]

Yesterday the bitcoin price dumped to 17,600$. A lot of people are saying that the bottom would be 12,000$ or 15,000$. Some even think that 6000$ is on the cards. However, we have seen some recovery in the price and it is now above 19500$.

Maybe 17600$ was the bottom or do you think there is more dump in the coming days/weeks?

Few days back, people were saying 20k will be the lowest. Now we have seen something else.
See mate Cryptos are now a days very much unpredictable.
Many factors are affecting for which the price is so down.
Maybe Bitcoins might fall more, but it won’t drop less than 15k usd.
The reason for Bitcoins sudden increase in price from 17k to 19k is due to the traders who started buying the Bitcoins, seeing the low price.
Hope soon the bear market ends, and the cryptos turn green.

[worle1bm]

Yesterday the bitcoin price dumped to 17,600$. A lot of people are saying that the bottom would be 12,000$ or 15,000$. Some even think that 6000$ is on the cards. However, we have seen some recovery in the price and it is now above 19500$.

Maybe 17600$ was the bottom or do you think there is more dump in the coming days/weeks?

Don't exactly know what's happening next as only having watch over the market reactions at this time and prices are going through insane up-down rally like yesterday they were around $17.5k and now it has crossed $20k so what expectations you are having at this time? Just holding with full beleive and in long run it will rise so not much worried.

[xSkylarx]

This type of question is like asking what number will come out in the lottery tomorrow. If people can predict the bottom price for bitcoin then no buy and sell will happen in the market. People will just wait for the bottom price to buy which is very impossible. Bitcoin will lose value if no one is buying or selling, there should be a constant exchange between the two. What we can do is just prepare more funds  in case market goes lower.

[kaseygriffin]

I have also consulted some analysis on the future of BTC, but I feel that all judgments are for reference only, and their application in the investment process of each person will be different. On my own journey to find opportunities with BTC, I realized many things. That its volatility is an opportunity for me to buy and hold them until they can rebound and increase. Looking back at supply history as a With the current economic developments, BTC, I always see the potential it can create. Even if the price has dropped a lot from the previous ATH, those who have gone through these stages understand that it will bring opportunities and price surprises in the future.

[Leviathan.007]

We cannot be sure about it at this time. Considering the current situation of the market we cannot be sure which price level is the bottom because as far as I can see in this situation any uptrend price movement can be just taking a rest to save the potential for the lower levels, just like an oppsite price correction because the trend is still pointing to lower levels, according to some analyzes there is a price gap to the level of 13.5K and people are waiting to see bitcoin trading at this level, but since we cannot predict the price, that's just a possibility see the price touching this level.