Are we at the bottom? no one knows, but market is doing fine.

[feeling sound]

market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom. And there is a big reason for it. Market acting surprisingly fine despite everything.

First it was interest rates. We knew it will be around 75 and it was. And market rallied (relief rally?) And it did not stop when numbers came in and US GDP growth was negative for the second consecutive quarter (which is a big recession indicator).

Why is that? Many think it is because we have allrdy saw the bottom and that market is currently "undervalued" so it is kind of numb to bad news. It very well might be the case, or it might not. Frankly It is not about where the bottom is (if there is one) but rather when there will be room for real growth! Current situation is:

We might allrdy be in recession.

Inflation is still here.

War in Ukraine continue to have an impact on energy and food price.

Feds made it clear that Interest rates will be raised more and more until inflation is under control.

Do you see any good signal that we might get out of this mess? Bottom or not until these fundamental problems are solved I just can't see a bull market coming.

[franky1]

why is it that people think that bitcoins price when it was the AllTimeHigh felt to them/deemed that price was the sustainable 'value' price where the correction(they call crash) is felt as negative

and yet when fuel prices go up they cry that the price should come down..

the answer is simple..
they forgot that the real value of bitcoin is at the bottom looking up. its not at the top looking down
they forget that right now is cheap to buy more before the speculation rise.

they also forget that this cycles bottom is actually higher than the previous cycles bottom and so bitcoin is doing as intended.

the price is not 'down'.. the price is simply at the good value area instead of the overhyped bubble zone of ATH, in other words where it should be for a good market/valuation

stop looking at the ATH and then cry at the corrections.
look at the cycles LOW and compare that to previous cycles low. understand bitcoins value has risen since the last cycle and all the speculation bubble of market price of temporary events in between is just the added price layer ontop of value. where the higher it goes in a short period the more the price has to retract/correct in same short period.

if people can start to see the value as bottom. and have the mindset of buy low sell high
they can start to get it into their heads to see where value is and then gauge that the price is near value or a premium to assess the risk of buying. EG
if you are buying at the ATH you're at high risk and buying at a premium. so try not to go FOMO buying at the top
buy low sell high. and take the many oppertunities of the temporary price swings of ups and downs above the value line

[buwaytress]

^ Indeed. Even when we've been there we feel the need to look up in desperation hoping we don't get lower -- when really we should be "thankful"  Bitcoin spends the majority of time in the bottom. I'm a really slow and steady "collector", DCA-ing all the way and liquidating when I'm forced to (unfortunately missing two ATHs).

Of course I feel those pangs of regret, but I've definitely seen more than enough to feel pleased I'm given a second chance to accumulate in extra value range. If it gets lower, I benefit more.

DCA baby.

[bittraffic]

market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom. And there is a big reason for it. Market acting surprisingly fine despite everything.

First it was interest rates. We knew it will be around 75 and it was. And market rallied (relief rally?) And it did not stop when numbers came in and US GDP growth was negative for the second consecutive quarter (which is a big recession indicator).

Why is that? Many think it is because we have allrdy saw the bottom and that market is currently "undervalued" so it is kind of numb to bad news. It very well might be the case, or it might not. Frankly It is not about where the bottom is (if there is one) but rather when there will be room for real growth! Current situation is:

We might allrdy be in recession.

Inflation is still here.

War in Ukraine continue to have an impact on energy and food price.

Feds made it clear that Interest rates will be raised more and more until inflation is under control.

Do you see any good signal that we might get out of this mess? Bottom or not until these fundamental problems are solved I just can't see a bull market coming.

Many technical analyst providers believe we are at the bottom. Or they may not have counted the crisis we have yet to meet.

Despite all the chaos and the fundamental problems, I think all there is the need for BTC moon is halving. Consider $17K as the higher low compared to the last $3K in the 2017 bull market which makes this market to be great for those who bought at the lowest point in the cycle. By the 2025 bear market you may be able to look back that you made the right decision.

[_act_]

Many technical analyst providers believe we are at the bottom. Or they may not have counted the crisis we have yet to meet.

Despite all the chaos and the fundamental problems, I think all there is the need for BTC moon is halving. Consider $17K as the higher low compared to the last $3K in the 2017 bull market which makes this market to be great for those who bought at the lowest point in the cycle. By the 2025 bear market you may be able to look back that you made the right decision.

$17500 has been the lowest price of bitcoin after 2020 halving significant bull run, but we do not know yet if that will be the $3000 of 2018 which I think if what you are talking about because 2017 was a bull run period. It is still possible that the price of bitcoin may fall below $17500, or probably not. But you are not wrong at all because what that matters that good analysts will consider is the halving period, even if bitcoin may still fall further, the price it is now can still be considered to be the bottom because if a significant bull run start, we can expect the price of bitcoin to reach over $100k and that is going to be after 2024 halving.

[Leviathan.007]

None can be sure about the answer to this question of being at the bottom of the market or not because from what we can see on the technical charts we are currently in a bearish season and there is still not any valid sign to say the bearish season is over, so according to this theory, any price movement to a higher level can be just temporary unless we break the resistance and change the trend to finish the bearish phase, otherwise I'm waiting for lower prices every time I look at the chart.

[Upgrade00]

Do you see any good signal that we might get out of this mess? Bottom or not until these fundamental problems are solved I just can't see a bull market coming.

I won't call the situation the price is at now a mess by any means. It's just a normal price correction, after the ATH of last year; nothing too serious.
Also, all those factors you mentioned are not fundamental problems related to Bitcoin or the cryptocurrency market, they are external market trends which can indirectly affect other global markets.
Note that the market is not determined by the extremes of ups and downs, but rather the period of stability in-between, and that amount that Bitcoin stables at over the years have been consistently increasing.
After the 2017 ATH, the market settled at below $8k for most of the time, now we have an apparent bottom of >$22k which is a significant increase. Those are my biggest takeaways from this cycle.

[Rufsilf]

None can be sure about the answer to this question of being at the bottom of the market or not because from what we can see on the technical charts we are currently in a bearish season and there is still not any valid sign to say the bearish season is over, so according to this theory, any price movement to a higher level can be just temporary unless we break the resistance and change the trend to finish the bearish phase, otherwise I'm waiting for lower prices every time I look at the chart.

And we don't need to know then. Perhaps, being in a bearing situation isn't new and we all are aware of this.
And we are also aware of many factors affecting the market, a short pump can't be called an indication of the change of trend, it eventually drops again. But as we can see the market is getting better, we just hope it stays above $20k until the end of this quarter and then moves slowly close to $30k. It is hard to find the significant reason for this pump but at least we have this. And I don't bother to check the chart every day.

[pooya87]

There has not been any rallies so far. All we had was a small recovery and then market entered what is called a sideways situation. I personally don't consider anything about a sideways market to be "fine" because it represents a state where people are very undecided and fearful. They don't buy and  they also don't sell (mostly because they don't have any bitcoins left to sell).
Until we see an actual rally (going beyond $25k and staying there) things won't be fine.

[Wiwo]

why is it that people think that bitcoins price when it was the AllTimeHigh felt to them/deemed that price was the sustainable 'value' price where the correction(they call crash) is felt as negative

and yet when fuel prices go up they cry that the price should come down.

The answer is simple, people think and take Bitcoin as some bubble and intent to keep blowing up in price at whatever price they buy it. People care about their investment and returns the same way they care about the price of fuel and can even make protests to kick against fuel increases. But the fact should be, people should view Bitcoin with the right perspective and positive mindset having in mind that Bitcoin is a speculative asset and a lot of factors contribute to its price movement and that is why Bitcoin is referred to as one of the most volatile assets on the exchange market.

[Queentoshi]

market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom.

I use to worry about the market price and wonder if we were at the bottom until I read a topic here from a user that regardless of how the market appears, 1btc remains 1btc and as hodlers of bitcoin in different quantity, we shouldn't bother ourselves with the fluctuating value but concentrate on getting more, I found it very encouraging and I think we should redirect our focus towards that instead of worrying about the market bottom.

[Taskford]

market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom.

I use to worry about the market price and wonder if we were at the bottom until I read a topic here from a user that regardless of how the market appears, 1btc remains 1btc and as hodlers of bitcoin in different quantity, we shouldn't bother ourselves with the fluctuating value but concentrate on getting more, I found it very encouraging and I think we should redirect our focus towards that instead of worrying about the market bottom.

Before you concentrate for getting more for sure you will think about spotting the possible deepest price reached by bitcoin, but its really hard to see this because knowing that all what we like sometimes didn't come to reality that's why its important to focus on accumulating while market volatility is so movy when the time you are doing your trades.

[darkangel11]

Why is that? Many think it is because we have allrdy saw the bottom and that market is currently "undervalued" so it is kind of numb to bad news. It very well might be the case, or it might not. Frankly It is not about where the bottom is (if there is one) but rather when there will be room for real growth! Current situation is:

I don't know if it ignores and will ignore bad news from now on, but I'm 100% sure it is undervalued. Any asset that falls 70% from its high without any fundamental problems, is undervalued.  What if you held stock of a company and there was nothing going on with that company and knew the only reason the stock is going down is because the US is trying to pump the dollar and the global economy in trouble, would that make you sell at a loss or consider the stock undervalued.

I see it in black and white. A stock is having problems because of fundamental reasons like a threat of bankruptcy, or the company is doing something shady - I sell. It's not having any problems but losing value because fiat money is gaining or people are selling because they don't know what's going on, if they'll be able to pay their bills next year - I don't sell.

[Doan9269]

How much deeper market gonna dive? Many believe we are near bottom. And there is a big reason for it. Market acting surprisingly fine despite everything

what else fo you expect, panic ? or fear of uncertainties? i believe these are what comes out from investing on other cryptocurrencies than bitcoin but whenever there's high volatility in bitcoin price, it calls for readjustment away from other cryptos

First it was interest rates. We knew it will be around 75 and it was. And market rallied (relief rally?) And it did not stop when numbers came in and US GDP growth was negative for the second consecutive quarter (which is a big recession indicator).

I don't think these have anything to do with the bottomless or rise in bitcoin price, they are economy factors that bitcoin price doesn't consider to operate it price network

We might allrdy be in recession.

Inflation is still here.

we aren't in recession but inflation is already ongoing

Do you see any good signal that we might get out of this mess? Bottom or not until these fundamental problems are solved I just can't see a bull market coming.

do you want to run on a garbage in and garbage out system? if no then we need patience and time to allow this bear season to go in order to enjoy the bull one longer as well.

[ethereumhunter]

market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom.

I use to worry about the market price and wonder if we were at the bottom until I read a topic here from a user that regardless of how the market appears, 1btc remains 1btc and as hodlers of bitcoin in different quantity, we shouldn't bother ourselves with the fluctuating value but concentrate on getting more, I found it very encouraging and I think we should redirect our focus towards that instead of worrying about the market bottom.

Yes, the market is doing well and is still moving up and down. 1 btc will also remain 1 btc but the price has changed. But we will never know when the price will bottom out and we will only know once the price starts rising sharply and continues to increase to form the next high or ATH. We just need to concentrate on collecting bitcoin and fiat and if the price gap continues, meaning the price is still up and down, it can give us an opportunity to buy low and sell high.

[kryptqnick]

The price has been around 15% higher over the last week than it has been throughout June and most of July, so it might be that we're on a slow way toward recovery. Of course, that's not guaranteed, as the stability around $23k hasn't been out here for long, and even after periods of long stability the price can drop significantly if some very fud-generating event occurs.
But I wouldn't say that the market's acting 'surprisingly fine' as the op put it because Bitcoin has no reason to suffer when traditional markets are going down or top fiat is devaluating faster than usual.

[Amicable55]

I believe that we are at bottom stage.  Market is moving forward and backwards slowly but it already touches a new loer round about 17K$ and may be touch a new lower.  As we see to move upwards in next coming months. My opinion is that our bottom stage will be ending soon.

[AakZaki]

I use to worry about the market price and wonder if we were at the bottom until I read a topic here from a user that regardless of how the market appears, 1btc remains 1btc and as hodlers of bitcoin in different quantity, we shouldn't bother ourselves with the fluctuating value but concentrate on getting more, I found it very encouraging and I think we should redirect our focus towards that instead of worrying about the market bottom.

if you already have a clear goal there is nothing to worry about, 1 btc is still 1 btc. the long term will provide more profit and focus on higher prices than currently. you have the right thoughts about how you can direct your focus in a better direction than having to worry about market bottoms. market bottom is an opportunity to add bitcoin assets.

[Fortify]

market is doing fine.
How much deeper market gonna dive? Many believe we are near bottom. And there is a big reason for it. Market acting surprisingly fine despite everything.

First it was interest rates. We knew it will be around 75 and it was. And market rallied (relief rally?) And it did not stop when numbers came in and US GDP growth was negative for the second consecutive quarter (which is a big recession indicator).

Why is that? Many think it is because we have allrdy saw the bottom and that market is currently "undervalued" so it is kind of numb to bad news. It very well might be the case, or it might not. Frankly It is not about where the bottom is (if there is one) but rather when there will be room for real growth! Current situation is:

We might allrdy be in recession.

Inflation is still here.

War in Ukraine continue to have an impact on energy and food price.

Feds made it clear that Interest rates will be raised more and more until inflation is under control.

Do you see any good signal that we might get out of this mess? Bottom or not until these fundamental problems are solved I just can't see a bull market coming.

It's hard to tell what you are describing because most people refer to stocks when talking about "the market". Funnily enough stocks are still going very strong even though there are all these recession warnings around, which is the opposite of bitcoin that took a huge slump recently but is slowly regaining ground. You have to consider that crypto is extremely high risk, so the moment things start dipping, everyone is in a stampede for the week exit and it takes a long time to regain trust. You also have to consider that it's getting a lot more expensive to borrow so people don't have cheap money available now to "invest"

[jossiel]

Do you see any good signal that we might get out of this mess? Bottom or not until these fundamental problems are solved I just can't see a bull market coming.

I don't have a clue.

But with the hope that everything is gonna be fine is what I've got. All of these things that are currently happening, I'm thinking that they shall pass anytime soon.

With those events that I think that won't impact that much for bitcoin since its volatility will have its effect whether we have those global issues or none.

Yeah, the market is fine as it was up from the likely of bottom that we've seen around $17k.