Was 17600$ was the bottom ?

[lixer]

It has been speculated that the BTC price will hit US$10k in 2022-2023 as the worst-case scenario for the entire community of crypto investors and tech companies relying on this cryptocurrency for payment transactions. The prediction is that after hitting the rock-bottom level of US$10k, Bitcoin may turn around for a comeback while reaching the US$50k zone.

From the data above, I assume Bitcoin will go even lower than the current price, the bottom line: I hope, if it happens $10k, hopefully I can do something in Bitcoin for the future, I really lose, if the opportunity goes by and it's useless knowing Bitcoin has reached the level of $ 10k, without doing anything for sure and always in failure.

Yeah, it would be a shame if the price goes down but we do not take advantage of that. I still think that we reached the bottom, but that is something I have been saying for a while so I am not going to act as if I know everything about bitcoin, it could still go down, but we should be taking advantage of it right now, so that we wouldn't be upset if it goes up without ever going down further, but we should be ready for another drop at the same time if it happens.

Maybe do not use all of your money and use some of it, and then go in even more later on? That seems like something that could be done if you ask me. Definitely a challenge, but could be done.

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[19Nov16]

Surely we do not want to see the price of bitcoin drops below $ 20k, when the price of bitcoin drops around $ 18k I think that this is the best decision to avoid losses but I am optimistic that the market immediately rise again, although now it hasn't moved away from the red zone but I will Hold at least 6 months.

[wiss19]

Did the price really dumped to 17.6k last week? It's too early to say that 17.6k is the bottom just because we are seeing 20k now because a lot of times we have been on this scenario where people expects a recovery and a pump but the opposite always happens.

I think this was just another prank or a trap as they call it, for some people to buy more because there are people that fomo's whenever they see a recovery in the price but aside from the figures above, there are also some that says btc can go 1k and below it but I won't believe on all of them not until I see it happening.

[dunfida]

Did the price really dumped to 17.6k last week? It's too early to say that 17.6k is the bottom just because we are seeing 20k now because a lot of times we have been on this scenario where people expects a recovery and a pump but the opposite always happens.

I think this was just another prank or a trap as they call it, for some people to buy more because there are people that fomo's whenever they see a recovery in the price but aside from the figures above, there are also some that says btc can go 1k and below it but I won't believe on all of them not until I see it happening.

Yeah it did happen

Bitcoin briefly dropped below $17,800 as sell-off accelerates — here’s what happened
https://www.cnbc.com/2022/06/18/bitcoin-price-drops-below-18600-as-sell-off-accelerates.html

Considering  the bottom? Its really hard to make out some conclusions which we know that the market is totally that unpredictable or something
doesnt give out assurance but seeing on the market condition then it do really have some positive pullbacks.

[Yamifoud]

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 all can have our own speculations and price prediction, however, these all can't be said was right or wrong. Even having the basis like citing the past events and market history, still can't assure about it, we know how the market works, unpredictable. We still don't know if we have already touched the bottom price of Bitcoin or if there is something that might surprise us someday as to see that the bear season isn't finished yet, we don't see any significant reason for the price hike that is why we could expect more dumps after a short rise.

[MCobian]

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 all can have our own speculations and price prediction, however, these all can't be said was right or wrong. Even having the basis like citing the past events and market history, still can't assure about it, we know how the market works, unpredictable. We still don't know if we have already touched the bottom price of Bitcoin or if there is something that might surprise us someday as to see that the bear season isn't finished yet, we don't see any significant reason for the price hike that is why we could expect more dumps after a short rise.

As you said, the movement of the crypto market is very difficult to predict, so each of us should do some research and analysis. So we can predict
where the market will move, because relying on other people's predictions is not the right action. There is no guarantee that other people's predictions
are more accurate than our own, so we must believe in our own abilities. Because only we ourselves know what is best for ourselves, so just do what
we think is right, that's what we should do. Then never be afraid to fail, because failure can teach us how to achieve success. So we decide
for ourselves the steps we will take considering the current market situation, but according to my prediction the market will still fall even lower.
So I decided to monitor the market movement first, to be more convincing of the decision I will take.

[Mamun74]

Bitcoin price already dumped and touched $17k and too early to happen. But bitcoin price early dropped in 2022 and staying 3-4month around $40k+ but last 2 month bitcoin price dropped  unrespectable. Bitcoin price touched $68k+ in 2021.we know Bitcoin has always up to a new ATH every dip so maybe we see 75k+ next pump.

[TheGreatPython]

Some of the members have already speculated $17,600, that's the bottom or there's another time we never imagined.

I understand Bitcoin once in four years there is a change in terms of price, before the next ATH occurs, my understanding and my belief is that this is not the end of the bear market, there is still a continuation, I don't know how much we'll see.

But we don't know that there prediction is exact to what's going to happen on the market because even if we are quietly have some little pull ups still it will never give any guarantee that the $17,600 is the last dip we can see. Maybe there will be more as the target of other speculators is at more bottom of $17k or more.

I believe that we could be reading too much into this, I mean if we are thinking about the price recovering to a high level, eventually it will be enough to call it a profitable one, and won't go back to bottom.

Sure there are levels to this, just because you reach 23k doesn't mean you won't go back down, but if you reach let's say 33k, it sounds like it would be hard to go back down right? Or go to 43k? That would be still "possible" but definitely not likely. Which means that there is a number where we can go up, and then say that we won't find any lower bottom and that was it. We will not be sure if that was the bottom until we reach those prices, but we will know when it happens.

[el kaka22]

Looks like we are doing fine. Many people are scared that we could still drop and this could be a dead cat bounce, and I have to say there is no way of knowing if it is or not. However, I can say that it is definitely looking like something that would be very dangerous for all of us if it turns out to be that way.

I think it is doing a good job right now where it is, and if this goes on for a while longer then we will be doing fine, it is going to take a while to learn if it is doing great or not, but that means we are not going to get an answer right away. Let's wait it out, it will be a great situation to wait, and it will result with a good answer eventually.

[STT]

We havent yet proven the decline has ceased.   Price action remains below the 200 week average, as a recovery we're mid way and its quite weakly attempting upwards still.   I think we do need to see BTC close on Sunday the weekly bar above 22.5k or so.      So to the OP question no not yet, the door remains open.

[hatshepsut93]

Probably not, because it doesn't look like a major psychological barrier - that would be close to $10,000 which is also a point from which the bull market has started. Also bear markets usually last for many-many months in Bitcoin, and it hasn't even been one full year since the ATH.

There is some chance that it was the bottom, but I wouldn't rush to buy Bitcoin now, there will be plenty of time to wait and see if there will be a better price or not - it's not going up anytime soon.

[Paul Pogba]

Until now the price of $17700 is the lowest, but we don't know what will happen next, even though the price has not dropped below $20k for 4 days but we must always be vigilant, it's better to sell immediately if the price is below $20k.

[mv1986]

Possibly not, we usually bottom in December or early year (before the halving, which is in 2024). So in essence late 2022 or early 2023 SHOULD be the bottom if we are reflecting previous cycle bottoms. Obviously past performance doesn’t always repeat. I think possibly we go lower though, I hope not but it is what it is. Governments will probably announce a great recession later this year which would ignite another sell off. Also MtGox trustee might unload those coins back onto the market plus companies like BlockFi might blow up as we saw with Celsius & other lately.

I hope the bottom is already in but I doubt it.

Well, for all of us who have been around for longer, we have seen that often times the cycles more or less applied repeatedly, but we are now in quite a special situation I would argue. Surprisingly all markets exploded during the pandemic, but that was because of the absolute crazy money printing. The money went into assets, hence inflated the price of those assets, but now the consequences take into effect in terms of inflation. If the inflationary effects lead to people having less and less money in their pockets, it is not about buying Bitcoin to hedge against inflation (because the money in the retail sector simply isn't there), it is more about money that COULD have been used to buy Bitcoin is now needed to pay for the basics in life.

I am really uncertain about the coming months because of potential repercussions from the pandemic and the ongoing war, both firing up inflation even further. So the cycles we are used to to a certain degree don't seem to fully apply at the moment. Any thoughts?

[n0ne]

For now $17600 seems to be the low bottom. This can change with time. Right now the market price of bitcoin have crossed $21k. This is just the nominal growth and for the same we can't take it as bullish move. The fluctuation continues and there is no stabilized growth. For now we can't get into conclusion on the low bottom as well as the market trend. It is time to do DCA and buy to avoid unexpected market moves affecting the buying price.

[dragonvslinux]

Probably not, because it doesn't look like a major psychological barrier - that would be close to $10,000 which is also a point from which the bull market has started. Also bear markets usually last for many-many months in Bitcoin, and it hasn't even been one full year since the ATH.

Personally I consider the bull market to have ended in May 2021, rather than ATH in November, as to me the second peak seemed more like a dead cat bounce and bull trap. Also because it's taken 13 months since the first peak to reach the 200 Week MA, as opposed to 7 months from ATH, and we've never seen Bitcoin reaching the 200 WMA since ATH within such a short time-frame.

There is some chance that it was the bottom, but I wouldn't rush to buy Bitcoin now, there will be plenty of time to wait and see if there will be a better price or not - it's not going up anytime soon.

I'm also not rushing to buy more Bitcoin anytime soon, as if $17.6K was the bottom, then I think price will revisit current levels (or around $25K minimum) within the next 6-12 months. I'm just generally surprised that most people don't see a dead cat bounce scenario similar to 2019 given how oversold prices currently are, back to $40K to $50K levels, prior to a second drop to end the bear market.

[sana54210]

Probably not, because it doesn't look like a major psychological barrier - that would be close to $10,000 which is also a point from which the bull market has started. Also bear markets usually last for many-many months in Bitcoin, and it hasn't even been one full year since the ATH.

There is some chance that it was the bottom, but I wouldn't rush to buy Bitcoin now, there will be plenty of time to wait and see if there will be a better price or not - it's not going up anytime soon.

Why would you rush into bitcoin right now? It is at or near the bottom levels and there is a good chance it may not go down any more, it may end up with a big increase and we will make a ton of profit from it.

I understand the fear that it may have a bit of a drop from here as well, but we have dropped so much already and I doubt that it would have anything big again after this. It will most likely be something that is a bit more towards how we see things in a perspective of maximalists already, because we are getting there. If you wait out too long then you are going to end up with a big upset in the end, and I would suggest not to wait that much longer.

[kotajikikox]

I thought it is but after what had happened and how the market is still showing no big response now? I believe that we are waiting to see another lowering market and maybe that some says 13k will be the possible lowest price?

But of course I will be very thankful if at least we are now safe in dumping and this is the maintaining value till the end of 2022 comes.

[ethereumhunter]

Until now the price of $17700 is the lowest, but we don't know what will happen next, even though the price has not dropped below $20k for 4 days but we must always be vigilant, it's better to sell immediately if the price is below $20k.

Hopefully, the price drop at $17,770 is the lowest and doesn't happen again or even touch lower prices. If it happened again, there would probably be more people panicking and selling their bitcoins quickly, while people with lots of money could use the moment to buy more bitcoins. Yes, we still have to be vigilant because the price of bitcoin can go back down even though, at this time, the price tends to be stable at the current price level.

[Dollar_Hunter]

these few days no more declines, so I can probably expect a lot for Bitcoin support at $17600 is strong,
and hopefully July is a bullish month for Bitcoin, because we have been in the red zone for a long time

[Lambe Ndumble]

Until now the price of $17700 is the lowest, but we don't know what will happen next, even though the price has not dropped below $20k for 4 days but we must always be vigilant, it's better to sell immediately if the price is below $20k.

Hopefully, the price drop at $17,770 is the lowest and doesn't happen again or even touch lower prices. If it happened again, there would probably be more people panicking and selling their bitcoins quickly, while people with lots of money could use the moment to buy more bitcoins. Yes, we still have to be vigilant because the price of bitcoin can go back down even though, at this time, the price tends to be stable at the current price level.

Nearly a week prices above $ 20k even though it is still close to fall down $ 20k, we can say it is safe if the price has reached at least $ 30k, and of course we hope the price of $ 17k is The Lowest Record and I don't want to see the price of dropping again.