If Bitcoin soon returns to $25K - $30K

[NeuroticFish]

If there is something positive in everything, then it is that we have probably gotten rid of weak hands and that we may be at the beginning of a new cycle.

I think that there will always be some weak hands. Basically they will be here in each and every cycle.
But I agree, at least if the history will repeat itself, we are not far from the end of the bear market.

On the other hand, I agree with pooya87. The international finances look bad. And when people doesn't have money, they will not invest, even more, they will liquidate their investments. I hope that this will not make the bear market stay for longer than it should though.

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[Lucius]

~snip~

And then one has the right to wonder where this mini pump came from if the global economy is in trouble, and the little man is struggling with inflation that has no end in sight. It seems that the OP could get the answer to his question with a practical example - weak hands seem to have gone on vacation

[pooya87]

I did not find an estimate of how much money is currently on the sidelines, but if that amount was around $5 trillion last year, given the current state of the market, it is possible that that amount is much higher.

My speculation is that when the money exited bitcoin, it had nowhere else to go since most other markets were dumping with many of them dumping hard without any hope in sight.

Also the good thing about bitcoin is that it doesn't need that much money to shoot up, all it takes is breaking a resistance and forming a strong momentum then all that money comes back. But also it attracts money from other markets. For example the money that was waiting to reinvest in stocks that had dumped sees the much bigger profit in bitcoin and buys bitcoin instead.

[Joshapat]

Now the price of bitcoin is $ 24k and I'm sure tomorrow or the day after tomorrow the price will return to $ 25k, the market is already bullrun again and I'm more optimistic to continue to buy bitcoin, of course we regret because we do not use the opportunity when the price of bitcoin is under $ 20k but if we don't buy now then we will regret the second time.

[dragonvslinux]

Now the price of bitcoin is $ 24k and I'm sure tomorrow or the day after tomorrow the price will return to $ 25k, the market is already bullrun again and I'm more optimistic to continue to buy bitcoin

It's looking promising to cross $25K based on many metrics. Most notably despite quite a few liquidations two days ago sub $23K, there hasn't been another round of notable amount of liquidations since then. Given how many people shorted from $30K levels, and remain in (part) of their positions, crossing $25K or higher could trigger another round of liquidations, pushing the price higher again.

Potentially many more liquidations won't occur until $28K or $30K, if short traders are trying to hold their positions for as long as possible, anticipating lower lows and the current pump to be a bull trap. This is why I can see how Bitcoin could cross $30K relatively easily, despite the fact it should act as strong resistance (as it was previous support). Similar to 2019 around $6K to $8K levels.

[milewilda]

Now the price of bitcoin is $ 24k and I'm sure tomorrow or the day after tomorrow the price will return to $ 25k, the market is already bullrun again and I'm more optimistic to continue to buy bitcoin, of course we regret because we do not use the opportunity when the price of bitcoin is under $ 20k but if we don't buy now then we will regret the second time.

When the market is on great or extreme fear then its not surprising that people would really be hesitating on buying on but there are ones who are really that risk taker on positioning themselves on the bottom and now the market did make out some positive movement and possible to pass 25k price and might drive going back to 30k.It might not be an assurance because this wont be a smooth sail ride
but who knows? Bitcoins price is always unpredictable and to those who had made out some analysis and made out such actions earlier and now the price had climbing up then it was an easy profits i would say. Selling would be depending on what kind of trader and investor you are whether a long term one or short term one then it would totally be your own choice.

[Shasha80]

Now the price of bitcoin is $ 24k and I'm sure tomorrow or the day after tomorrow the price will return to $ 25k, the market is already bullrun again and I'm more optimistic to continue to buy bitcoin, of course we regret because we do not use the opportunity when the price of bitcoin is under $ 20k but if we don't buy now then we will regret the second time.

When the market is on great or extreme fear then its not surprising that people would really be hesitating on buying on but there are ones who are really that risk taker on positioning themselves on the bottom and now the market did make out some positive movement and possible to pass 25k price and might drive going back to 30k.It might not be an assurance because this wont be a smooth sail ride
but who knows? Bitcoins price is always unpredictable and to those who had made out some analysis and made out such actions earlier and now the price had climbing up then it was an easy profits i would say. Selling would be depending on what kind of trader and investor you are whether a long term one or short term one then it would totally be your own choice.

Bitcoin that shows a positive movement does increase the enthusiasm of investors to buy Bitcoin. Even though we know the movement of Bitcoin is
very volatile and there is a possibility that Bitcoin will fall again, although I actually hope Bitcoin can continue to rise to get back to the price of
$ 30k. But as you said, it all depends on our respective decisions in responding to this positive Bitcoin movement. If more people took profit
because they bought Bitcoin when it was below $20k, then it is very possible the price of Bitcoin could fall again. But if more people invest in Bitcoin
for the long term, then Bitcoin is very likely to reach the price of $ 30k and can even continue to go higher. In conclusion, we still have to be
careful about the current movement of Bitcoin. Which is where the movement of Bitcoin is very difficult to predict and can move in the direction
we do not expect. Therefore, make sure we always analyze the market regularly, so that we can make the right decisions.

[BitcoinPanther]

So now I'm curious to hear what people think will happen if the majority are wrong  

It was always seen in the Bitcoin market history that the majority of the speculation is wrong.  People will just go on with the market trend even though the majority of them think otherwise.  People are adaptable so they tend to adapt and change their views when the market started to change its sentiment.  But I think the current market is still bearish.  This is just another higher low, and we can expect another Bitcoin price drop soon since there is no strong enough news yet that can change the market sentiment.

[tbterryboy]

With Bitcoin's price currently in the middle of a trading range around $20K, as well as lack of clear direction as to whether price will rebound towards $30K or fall lower towards $10K, what do people think will happen if Bitcoin returns to the $25K - $30K trading range? With realized price as well as the 200WMA currently at $22K-$23K, it's likely breaking $25K would be confirmation of a local low (even if not necessarily the absolute bottom), but at the same time $30K acted as support for 18 months, suggesting it could now act as strong resistance. Therefore there could be a lot of indecision as well as volatility within this range it seems.

I choose the option a because if that happens then I think we will see a further increase in the price because I believe that there are so many lurkers here that simply waits for the price to recover a lot before they jump in investing again and I think they are also the ones that will sell early once we see a major improvement in the price, so a second option in the poll is also possible.

No OP, your question is not strange but I only find this normal although it's true that there are some who thinks that the bottom is not in yet. That is why it's also advised to wait a little bit if you are planning to buy more, so that you will get the most out of your money.

[AmoreJaz]

So now I'm curious to hear what people think will happen if the majority are wrong 

It was always seen in the Bitcoin market history that the majority of the speculation is wrong.  People will just go on with the market trend even though the majority of them think otherwise.  People are adaptable so they tend to adapt and change their views when the market started to change its sentiment.  But I think the current market is still bearish.  This is just another higher low, and we can expect another Bitcoin price drop soon since there is no strong enough news yet that can change the market sentiment.

you may be right or wrong on this possible scenario. but the good thing about this market is, we are all free to give our own sentiments or speculations. and at the end of the day, it is on you how you will take advantage of the current market. we can speculate all we want, but then what? are we going to react or just be an observer?

[KennyR]

The market can move in any direction. As an user said all that required is a good momentum and the market starts to rise and the money exited will come back. In recent days it looks like lot of money have flown into altcoins. This can be seen through the growth of ethereum which to some extent is in close movement along with bitcoin. $25 - $30k can happen anytime, but how long the market sustains seems to be a short term.

[dragonvslinux]

With Bitcoin's price currently in the middle of a trading range around $20K, as well as lack of clear direction as to whether price will rebound towards $30K or fall lower towards $10K, what do people think will happen if Bitcoin returns to the $25K - $30K trading range? With realized price as well as the 200WMA currently at $22K-$23K, it's likely breaking $25K would be confirmation of a local low (even if not necessarily the absolute bottom), but at the same time $30K acted as support for 18 months, suggesting it could now act as strong resistance. Therefore there could be a lot of indecision as well as volatility within this range it seems.

I choose the option a because if that happens then I think we will see a further increase in the price because I believe that there are so many lurkers here that simply waits for the price to recover a lot before they jump in investing again and I think they are also the ones that will sell early once we see a major improvement in the price, so a second option in the poll is also possible.

This is also my general theory. The scenario breaking above $25K as well as $30K would remind me a lot of 2019. Many thought that that price would fall back down to $4K once $5K was reached, but instead price continued higher. Then around $6K to $8K previous long-term support it seemed like price would get rejected by this previous support, but instead price went substantially higher.

I think it's true that many investors are waiting on the sidelines, given how economies are in turmoil, but if Bitcoin price breaks it's bearish trend then this won't matter anymore imo. As for others who will sell at the first sign of recovery, then it's safe to say there are always sellers in the market, but I also think if these sellers haven't sold already after price dropped by $20K for 4 weeks they are now unlikely to do so.

No OP, your question is not strange but I only find this normal although it's true that there are some who thinks that the bottom is not in yet.

This is the irony and the reason for my questioning. While many in a previous poll thought the bottom wasn't in and price would go significantly lower, more people in this poll currently think that more buyers would appear if price reaches $25K to $30K. So it seems likely that many think these prices won't be achieved anytime soon, if they think price will go lower, but if they are they would likely change their opinion.

[GeorgeJohn]

Now the price of bitcoin is $ 24k and I'm sure tomorrow or the day after tomorrow the price will return to $ 25k, the market is already bullrun again and I'm more optimistic to continue to buy bitcoin, of course we regret because we do not use the opportunity when the price of bitcoin is under $ 20k but if we don't buy now then we will regret the second time.

It's not too late to purchase Bitcoin because since the price is still between twenty thousand (20k) I think there is a lot of advantages because we are looking up to sixty thousand (60k) and hundred thousand (100k). So anyone who want to buy bitcoin now can as well purchase Bitcoin because it'll have a long way to go. Since the price is still in the state of twenty three thousand (23k) and twenty four (24k) you can invest more of it because of bullish proper time.