Are we going to recover or continue to dump?

[Mahanton]

What are your current opinions on the cryptocurrency market?

I think for now the most likely outcome is that we will continue to see a ranging market for some time, the price has already decreased a great deal from the all time high and there is not really a lot of interest from the bulls to try to push the price upwards.

So the most likely outcome for the next months is to see bitcoin moving around the 20k level, and about what it will happen after those months pass by it is difficult to predict and it will depend on how the economy is doing at the time, however it is possible we could see a further decrease in the price of bitcoin, and while this may be bad news for some, for those which have some cash available this will be yet another opportunity to buy bitcoin for sub 20k prices.

The hardest time on making out decision is on the time that the market is really on that ranging or moving sideways condition which it is really hard to make up some position whether you would go for long or short
but if you are going for long term then it wont really be that an issue for you to make out some accumulation with the current prices considering that we are on deep negative percentage  if we do compare it on ATH
which is already a considerable factor for you to get in but if you do go for shorter trades then you would be mindful on positioning yourself because you cant really just make out some actions without having any
basis because price could drop even more on the time after you had positioned yourself which make things normally been hard for us traders or investors.

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[Finestream]

What are your current opinions on the cryptocurrency market?

There are still no certain moves as to where the market is heading but always remember that the crypto won't always stay dumping forever, the market will come to recover and become stable again. We just have to patiently wait for that. Instead of worrying and panicking, just enjoy the ride and focus yourself on buying cheap bitcoin as it will always bring good profits when bull run hits again the market. While others are taking advantage of the market, others too are in huge panic, not surprising for newbies though.

[abel1337]

What are your current opinions on the cryptocurrency market?

Our current market scenario is uncertain, It's pretty hard to predict the market for short term at least. There are many speculations about bitcoin price that it can reach 10k with a guide chart also there's someone I saw presenting a chart that it could go recover anytime from now since it failed to dip more. It's hard to tell where bitcoin and crypto will go so what can we do know is to just prepare on what kind of market situation we are heading to. We can do what whales do, Buy some assets that has a future.

[Kasabus]

What are your current opinions on the cryptocurrency market?

It’s to be honest is completely unpredictable.
I mean some days, the market is up by 6-7% and the next day it’s down again.
It’s currently struggling in the bear market, that’s all we know.
In order to recover, at first BTC needs to go up.
Following the BTC, all the rest coins will also climb with it.
Still it’s a huge time we need to wait. So can’t say clearly in which phase we are in.

Exactly. The market even becomes more unpredictable this time when the market is deeply bearish. The reason why not even a single person knows precisely as to what the market will look like days and months from now. But to be honest, we can't expect a faster recovery when bitcoin price has dropped too far. The bearish market may even last for year, who knows. However, no need to get panic and sell everything you have. This is the best time for accumulation, so let's focus on that and always think the positivity that this bearish market brought.

[livingfree]

Uncertain.

That's always the keyword in this situation. We don't know if the correction was already done or if a sudden trap will arise and we'll be trapped.

~snip~

No one can confirm that. So far I think the worst price is $13K-$16K, it's just based on the cycle that happened yesterday. I think if this cycle is still agreed upon then we will go back to the moon. Although I also know that the global economic situation is not good. There is a lot of bad news from the crypto world, such as Luna/Terra, then the hot one is Celsius, who filed for bankruptcy. But I know by heart with this situation, asset theft cases, many crypto cases that appear but especially BTC crypto can always return to new ATH.

I believe that it will skyrocket again but not so close this time.

If history based, we'll be having a long bear market not unless the confirmations have changed and the validations as well. This is gonna be a long bear market and we have to endure it.

But by the looks of it, there's no need for any enduring because if you've been here. You'll agree that the prices are still better a few years ago. As for the bad news, they've been a contributing factor to the whole market's plummet, I believe that.

[Sanitough]

What are your current opinions on the cryptocurrency market?

The market will be up for more bearish movement in the next couple of days so always be ready for that. And that recovery may not be even possible this year i think, so we will have to endure this long term bear market positively. Having said that, let's buy more and hold more while there is good opportunity to invest. This may not be happening again when we start seeing bitcoin skyrocket again to reach its new all time high. So never stop seizing the market while it last.

[Japinat]

It wouldn't recover anytime soon though imo. It'd probably go back to around $30-40 in a year, but it can only ever exceed the ATH on the next halving in 2 years. Before that, we'd probably only see a gradual steady increase instead of the usual pumps we've seen in the past year or two. There might be a bit of a few fluctuations but it wouldn't be too big. I wouldn't expect any recovery in the next few days or weeks, we might even see it dip down a bit more. Small spikes can be seen but it'd go back to a middle point at some point imo.

The market has been very bad in the past few days, and we can expect to see more dumps in the next days. Probably, the market will not be productive and create good pumps just like before, where even a single positive news can directly influence the market. There might be slow progress in the next possible days but it won't be as huge as we expected. But hey, never get discourage as we can still witness another bull run in the right time. It may only take a little positivity and of course patience to wait for that time.

[azhot]

I think we have bottomed out, but I also think we will be at these prices for more than a month. If the issue with Russia doesn't get complicated, I think the rally will come by the end of the year. The market needs to digest the rate hike and even see the first positive effects of higher rates on the economy

[blockman]

I think we have bottomed out,

Maybe but we can't be sure that it's the actual bottom for this cycle.

but I also think we will be at these prices for more than a month. If the issue with Russia doesn't get complicated, I think the rally will come by the end of the year. The market needs to digest the rate hike and even see the first positive effects of higher rates on the economy

It's okay if we'll still at these prices for a long time. This has to happen and we should stay here for the meanwhile. Everything will get better when the war is done and peace is back again for most markets because recovery will come out once it happens.

[GeorgeJohn]

I think we have bottomed out, but I also think we will be at these prices for more than a month. If the issue with Russia doesn't get complicated, I think the rally will come by the end of the year. The market needs to digest the rate hike and even see the first positive effects of higher rates on the economy

the only factor i should consider first is the war of Ukraine and Russian might be the major functions while Bitcoin is experiencing downgrade. Because i observe vividly that since the existence of the war, i was wondering that the war should be one of the major functions or reasons while bitcoin is experiencing negative market reaction. From my perspective, it seems that Russian have one of the major mining farm and also people who enroll into the market of cryptocurrency, because since the existence of the war their is changes in cryptocurrency.

[Issa56]

What are your current opinions on the cryptocurrency market?

Nobody knows, it might continue to dump and it might start pumping, but currently the market can go either say, Everybody is just predicting what will happen and nobody is sure about what will happen, but either pump or dump I keep on holding my coin. Incase if there is dump then I will use the extral fund am having that I won't be using soon to bag more bitcoin and if it's pump I will continue to hold the bitcoin have been having before. If you are planning to buy coin now, the best thing you should do it to divide your money into and start buying from now, incase if their is more dip you can still accumulate more again.

[GeorgeJohn]

What are your current opinions on the cryptocurrency market?

Our current market scenario is uncertain, It's pretty hard to predict the market for short term at least. There are many speculations about bitcoin price that it can reach 10k with a guide chart also there's someone I saw presenting a chart that it could go recover anytime from now since it failed to dip more. It's hard to tell where bitcoin and crypto will go so what can we do know is to just prepare on what kind of market situation we are heading to. We can do what whales do, Buy some assets that has a future.

any chart that is narrating or point an arrow for Bitcoin ti Fall to the extent of reaching ten thousand (10k), i will not believe such speculation or analysis until it get to that point of ten thousand (10k) i know that bitcoin is retracing gradually and not to the extent of decreasing to 2018 and 2017 value. If actually bitcoin will reach to such value that means it will take cryptocurrency generally to recover immensely. I know it's easier to do so, but it will bring negative information about cryptocurrency.

[kawetsriyanto]

I think we have bottomed out, but I also think we will be at these prices for more than a month.

Why are you so confident that we are already bottomed out? I hope you don't determine it based on your feeling only.
We just experienced bullrun last year, BTC made a new ATH at that time. Crypto market needs balance, bearish should last for several years before we return to the bullish season again. Since we are still in the early bearish season, I doubt if we are bottomed out already.

If the issue with Russia doesn't get complicated, I think the rally will come by the end of the year.

Even if Russia ends the war, I am not sure this bearish to end as well. Russia war may have an impact on crypto market, but it doesn't determine when the bearish period ends. Don't consider the end of bearish based on that factor only. You need to analyze other factors as well.

The market needs to digest the rate hike and even see the first positive effects of higher rates on the economy.

Not sure what you mean. As far as I know, crypto market always responds to any issue related to the world's economy. Mostly, it can be a temporary drop or temporary raise.

[Oceat]

The market seems to be going south ever since the bear started and I think it will take some time to recover from this since I think it's not done yet reaching the bottom which is $15k IMO. All you have to do right now is to be patient and HODL that crypto you got there I know some of these people are struggling already and having a panic which is not good if in desperate might sell their investment in a very low price. Although four years ago this price was the highest price of Bitcoin that ever reached but now it's different. So HODL!

[ice18]

What are your current opinions on the cryptocurrency market?

I think still bearish, this bear market can last for months just like the previous one, don't expect yet a recovery we might see a more drastic market situation in the next few months, if you witnessed the last bear market you already realized and learn what you gonna do in this kind of market situation, always buy every dip and hodl.   

[lionheart78]

What are your current opinions on the cryptocurrency market?

I look at different Tech Analysis predictions and it looks like most of them agree that the current trend of the Crypto Market specifically the Bitcoin market will continue to be bearish.  Just like this TA predictions example, saying that Bitcoin is at a current rising wedge pattern. 


Technical Analyst Explanation:

• Price can draw last upward wave "E" and if you know rising wedge is bearish pattern .
• Current resistance zone (target) is 21700-20000 USD this is my target for wave E.
• And from this zone price can start falling because of bearish pattern , I will update you about it, for now I see long in resistance zone .

You can read more of the interpretation and discussion here : BITCOIN PRICE NOW TRADES IN LAST UPWARD WAVE "E" OF RISING WEDGE

Even news and market sentiment is also Bearish
Key Bitcoin price metrics say BTC bottomed, but traders still fear a drop to $10K
Market Wrap: Finger-Pointing and Job Cuts as Bitcoin Slides Back Toward $20K

[gunhell16]

What are your current opinions on the cryptocurrency market?

At the current situation we had now in the cryptocurrency obviously, We are in stage of bear market period where we to check some of the altcoins that got dumped its price in the market that has a potentials to increase again in the future for us to get profit.


However, at the present time now, some of the altcoins are just starting to pump their price for awhile, try to check the market dude.At this period of bearish having a large amount of money is an advantage then hold.

[tbterryboy]

My bet is sideway, no strong trend toward either up or down. Just keep hovering over this price range for weeks before anything actually happens (depending on the upcoming FED hike rate). Maybe there could be some pushing from ETH since next month Aug where we finally know about the future of ETH 2.0. Enough to have some influence over the market.

Influence over the market? Or maybe on the eth only since it's the one that will be updated but is it possible that eth can drive other altcoins to move up? If that happens then btc will be left behind but no worries as this coin can rise on its own when it's about time. It can be better if alts rise first since there are lots of them and many people invest on them.

It will give those people a relief and can possibly encourage them to invest more. Other newbies are also going to invest when they witnessed that recovery. In the even their pump goes down, that may be the time where btc is ready to rise and they will be dragged upwards once again.

[Pandu Geddon]

Influence over the market? Or maybe on the eth only since it's the one that will be updated but is it possible that eth can drive other altcoins to move up? If that happens then btc will be left behind but no worries as this coin can rise on its own when it's about time. It can be better if alts rise first since there are lots of them and many people invest on them.

if Bitcoin can stabilize and Altcoins with an ETH boost can get a pump, that could be great for the start of the altcoin season. but looking at the current market conditions, it looks like we're not going to get that. Bitcoin movement is still risky, this could bring us into a correction that is quite severe. but hopefully, Bitcoin will not fall more than 20k

[Hypnosis00]

Influence over the market? Or maybe on the eth only since it's the one that will be updated but is it possible that eth can drive other altcoins to move up? If that happens then btc will be left behind but no worries as this coin can rise on its own when it's about time. It can be better if alts rise first since there are lots of them and many people invest on them.

if Bitcoin can stabilize and Altcoins with an ETH boost can get a pump, that could be great for the start of the altcoin season. but looking at the current market conditions, it looks like we're not going to get that. Bitcoin movement is still risky, this could bring us into a correction that is quite severe. but hopefully, Bitcoin will not fall more than 20k

It was not the time yet for recovery. We still see some sort of pump but after a few days, it drops again. For now, have nothing to expect for that recovery, of course, it comes sooner and nothing to get confused with the situation as we are totally at the bear season. However, despite the troublesome situation in the market, I still don't make myself become hopeless as we know that this is soon over and turn bullish again just like how it happens many years ago.
We must have our patience keep lighted until the bullish trend comes.