Is the bottom in for BTC?

[Oceat]

We probably hit the $17k so far but I think it's not done yet since I feel like there's still bottom coming like it's going to hit $15k and the rest will be aiming to a new support which is higher than $20k. I feel like staying at above $20k is the the new trend in this market just like how $10k to $15k was trending in the past before the bull run.

Well, who knows? But I think it's a thing in this market since the bull run is done and we are in this bear market again then we might keep seeing this $20k+ trend like a support before the bull market come again.

[adaseb]

The global markets have a stronger sentiment now . Especially how they reacted with the CPI and fed rate hikes recently. This is why BTC and ETH especially seems to be recovering.

However it’s hard to say if it’s the bottom. Keep in mind that next month is when MtGox coins will finally move. And depending on how many of those holders decide to sell we might get another run at the low of the year. Unless the distribution gets delayed again.

[Silberman]

We probably hit the $17k so far but I think it's not done yet since I feel like there's still bottom coming like it's going to hit $15k and the rest will be aiming to a new support which is higher than $20k. I feel like staying at above $20k is the the new trend in this market just like how $10k to $15k was trending in the past before the bull run.

Well, who knows? But I think it's a thing in this market since the bull run is done and we are in this bear market again then we might keep seeing this $20k+ trend like a support before the bull market come again.

At this point it is impossible to know what will happen, bitcoin has been showing a decent recovery and now we are close to the 24k level, however as we know the volatility of bitcoin is so extreme that the price could go down dramatically in just a day, so it is not like we are out of the dangerous zone and we could see a new bottom once again, personally I would not like to see this but I understand that something like this is possible and I got no choice but to adapt to the movements of the market.

[Rufsilf]

I am not 100% sure. This could be the bottom i.e at $20k - $22k or there could be one final capitulation to $13k for the final bottom.

Usually, BTC bottom is a drop down to 84% but again we have more awareness and adoption. From now on the drops might be smaller.

What do you guys think? Go with your gut

I couldn't tell nor I can assume that we hit the bottom already until this bear season will end and the market turns bullish again. But as we are still in this bear market situation, more price drops can be possible at any time. It was best not to think about it but rather think about buying more Bitcoin while the price is cheap, as it takes a long time to buy this again if we miss this time. Just think about waiting for the next 4-5 years before you can see Bitcoin at $20k or not even seeing it anymore.

[Oceat]

We probably hit the $17k so far but I think it's not done yet since I feel like there's still bottom coming like it's going to hit $15k and the rest will be aiming to a new support which is higher than $20k. I feel like staying at above $20k is the the new trend in this market just like how $10k to $15k was trending in the past before the bull run.

Well, who knows? But I think it's a thing in this market since the bull run is done and we are in this bear market again then we might keep seeing this $20k+ trend like a support before the bull market come again.

At this point it is impossible to know what will happen, bitcoin has been showing a decent recovery and now we are close to the 24k level, however as we know the volatility of bitcoin is so extreme that the price could go down dramatically in just a day, so it is not like we are out of the dangerous zone and we could see a new bottom once again, personally I would not like to see this but I understand that something like this is possible and I got no choice but to adapt to the movements of the market.

Well, I'm just doing my thing no matter what's the price it hit as long as my goal is hit too then I'm good. Just do the usual thing as a trader then you can overcome whatever the outcome of the market just don't expect too much since the volatility is our usual problem when it comes to prediction.

Doing DCA in a bear market is a thing and it's even more on your side when it keeps going down although the market seems to be recovering a little somehow but with the condition of the market then the correction is just around the corner.

[Hypnosis00]

We have reached close to $18k in the 2nd quarter, if this current momentum continues and there are no drawbacks, that likely be the bottom. But for now, it was just an assumption as clearly, we don't know yet for the incoming. Well, it was not important for me to see the bottom price of Bitcoin or even wait for that because what really matters for me is I already buy during that time and holding it until now. I wasn't in regret doing this and continue to accumulate more if there is huge market correction comes again.

[Vaskiy]

We can't get into conclusion on the bottom price of bitcoin. It drops down and it bounce back in no time. Yesterday this happened. All of the sudden the price dropped drastically and today it is moving above $24k which is quite good. As people say the market movements were uncertain and so we can't predict which is the bottom and peak price.

[bbc.reporter]

What do you guys think? Go with your gut

My answer will be no. Mike Novogratz has already declared that the worst is over, however, how can we trust the words of someone who has a tattoo of Luna on his left arm?

Our old friend Tom Lee has also declared that the 2022 bear market is also over, however, in the last bear market Tom Lee is also famous for his prediction of $25k by end of 2018. Bitcoin was dumped to $3500.



Tom Lee says the 2022 bear market is over

Source https://www.cnbc.com/2022/07/29/tom-lee-says-the-2022-bear-market-is-over-stocks-could-hit-new-highs-before-year-end.html

[boltz]

Well ...in the end it seems I'm about to be right that Bitcoin cannot surpass the 24k range for now and this should mean 1 thing : We are still in fully bear market and I don't think it will be over during this year and most likely will continue in 2023 or until the halv happens which is still a long way from now. Also , we should keep an eye on Bitcoin as it could go below 23k and if that happens , BTC might to back under 20k so that means we are still to see the bottom.

[Coyster]

As for now i think we have touched the bottom, so i voted yes in the poll, i am not saying we are out of the bear market, cause we aren't, but btc might have touched the bottom and we prolly aren't going that down again in this period, but well who knows, quite a lot of things and some bad news too whilst we are still in this bear market and we could see Bitcoin at $17,000 again or below.

[NeuroticFish]

I am not 100% sure. This could be the bottom i.e at $20k - $22k or there could be one final capitulation to $13k for the final bottom.

Usually, BTC bottom is a drop down to 84% but again we have more awareness and adoption. From now on the drops might be smaller.

What do you guys think? Go with your gut

Your poll misses "I don't know". That's what I'd go with.
We may not go under 20k, we may go to 13k or maybe even 8-9k. Time will tell. Also in time we will know where was the bottom for this bear market.

If you find somebody who has a crystal ball, maybe you can can get better answers. I don't have one, so I wend for honest answer.

declared that the worst is over, however, how can we trust the words of someone who has a tattoo of Luna on his left arm?

  good one!
Indeed, prediction is worthless, stop listening to all these personalities, they are just as clueless like everybody!

[palle11]

As for now i think we have touched the bottom, so i voted yes in the poll, i am not saying we are out of the bear market, cause we aren't, but btc might have touched the bottom and we prolly aren't going that down again in this period, but well who knows, quite a lot of things and some bad news too whilst we are still in this bear market and we could see Bitcoin at $17,000 again or below.

As always it is an uncertain market for bitcoin. It is unpredictable especially with the times we are with the price and there is much confusion if we have reached the buttom or not and now Tesla selling some large amount of coins bringing more uncertain speculation and fear. The price action to me looks dull and I think that's because the sentiment is of different views for continuous bear or turn around for bull.

[Furious 7]

As for now i think we have touched the bottom, so i voted yes in the poll, i am not saying we are out of the bear market, cause we aren't, but btc might have touched the bottom and we prolly aren't going that down again in this period, but well who knows, quite a lot of things and some bad news too whilst we are still in this bear market and we could see Bitcoin at $17,000 again or below.

So far, there are even those who predict they will continue to fall until the price is deeper there even though it looks better now but still we can't rule out the worst possibility by always being careful and keeping us from being carried away in panic.
I personally think $17k will still have time to drop there and I still feel $13-$14k could still happen, but looking at it now it looks like maybe I should re-check the research I did.

[MCobian]

As for now i think we have touched the bottom, so i voted yes in the poll, i am not saying we are out of the bear market, cause we aren't, but btc might have touched the bottom and we prolly aren't going that down again in this period, but well who knows, quite a lot of things and some bad news too whilst we are still in this bear market and we could see Bitcoin at $17,000 again or below.

So far, there are even those who predict they will continue to fall until the price is deeper there even though it looks better now but still we can't rule out the worst possibility by always being careful and keeping us from being carried away in panic.
I personally think $17k will still have time to drop there and I still feel $13-$14k could still happen, but looking at it now it looks like maybe I should re-check the research I did.

I am happy that Bitcoin's performance has improved in the past week and hope that the price of Bitcoin will continue to climb even higher.
But I realize that the crypto market is still in a bear market,  meaning that there is still a possibility that the Bitcoin price will drop below the $20k
price again. It must be admitted that it is very difficult to predict the price of Bitcoin,  the most important thing is that we have to be patient holding
the Bitcoins we have, and never sell Bitcoin at a low price. Just stay focused on collecting as much Bitcoin as possible, and don't panic if it turns out
that Bitcoin is falling again in the near future. We must believe in the future of Bitcoin, we must remember Bitcoin has proven to be recovering
several times after experiencing very deep declines. So we must be able to control our emotions when investing in Bitcoin.

[BitcoinPanther]

While we cannot be 100% sure, I would say that the $17k we saw recently was the bottom of this cycle, barring catastrophic news.

I also think so but the bear market is yet to end, so there is a possibility of some bottom prediction happening such as the one with $14k. I hope it won't happen since the current Bitcoin market sentiment is somehow positive after having a relief rally for six weeks.  I do hope this rally continues and turns into a positive sentiment that will trigger the transition to the BTC bull market.