Why Isn't Bitcoin Going Lower?

[Editbar]

Bitcoin is still over nineteen thousand
dollars even what we after we've seen a
50 almost a 58 trillion dollar drawdown
out of the equity market and  the U.S
Equity market and also fixed income in
the United States so that of the
market capitalization so we are still
over nineteen thousand dollars how is
that is possible even after we've had Luna
we've had Celsius we've had you know the
dollar Skyrocket into I mean almost
all-time highs are essentially all-time
highs in many different currencies
especially the pound and the Euro.

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[348Judah]

Though i never get the exact point you're trying to come up with inbthis approach but i can tell you that bitcoin is incomparable to altcoins or the fiat currency regardless of the denomination, what youbassume to be the prediction or determinant for bitcoin price isn't it at all, what makes bitcoin rise or fall is majorly on its demand and supply and notbthe stock market values of other fiat currencies, they can't determine the fate to bitcoin even at this peak period of USD, it rises and likely to fall over time, bitcoin value is far ahead them in many ways that fiat does not affect or determines it value or rate

[mk4]

We just nuked from $40k down to around $18.5k in like 5 months; that's a huge enough drop, at least for now. And whose to say we ain't gonna drop further? As it's definitely still very possible. Sometimes bear markets can take longer than people think.

[Solosanz]

Don't link Bitcoin with Luna shitcoin and the other scammy centralized Bitcoin staking site aka Celsius, Bitcoin could drop more lower, but if you think Bitcoin would hit $10K or below, I think that doesn't make sense considering there's so much adoption on Bitcoin right now.

I think the bottom of Bitcoin that can go very low is only around $15K, $20K seems to be a strong resistance and that's might the bottom of this bear market in this year.

[franky1]

bitcoin does not have a zero bottom.
bitcoin cannot tank down to zero easily..
there is actually some economic fundamentals

no where on the planet can anyone mine bitcoin for less than $15k/coin
no one is willing to sell mined coins for less.
other people that want bitcoin but cant mine that cheap will just buy bitcoin.
this created a very strong wall of support that stops bitcoin going below $15k
everyone on the planet can only buy/mine/acquire bitcoin above $15k

those lucky enough to acquire bitcoin for $15k obviously want to make profit so they want sell for exactly $15k. hense why the speculative market is resistant to drop below $18k
and so the speculation of premium prices above $15k comes into play

stop thinking that bitcoins VALUE is at the 'high' where drops in prices are bad

remember the value of bitcoin is below the market speculation low.. and the highs are temporary unsupported bubble periods of high speculation premium.. they are not suppose to stay up high, they are not suppose to stay up and be supported.

the ATH are suppose to correct down back down to near value levels

the speculative window which bitcoins market price wiggles around is not $0+

its a window last/this year of $14k-$70k
the price wiggling inside this window can change due to many sentiments. and its due to alot of negative stuff that its wiggling at the bottom end of the window

but this is a great opportunity to buy coin at the low. while its cheap because this window is going to shift forward and upwards due to the whole deflationary/halving cycles push upwards of the window

emphasis: $1-$1k-$10k bottoms are not in the realm of realistic possibility for 2022

bitcoins non zero 'bottom' is at $15k

[Obito]

We just nuked from $40k down to around $18.5k in like 5 months; that's a huge enough drop, at least for now. And whose to say we ain't gonna drop further? As it's definitely still very possible. Sometimes bear markets can take longer than people think.

It seems that OP lost a shorting against bitcoin. And to OP, I don't know how long you've been in the cryptospace so I assume that you've been here for a short while, as @mk4 said above, bear markets typically lasts for a really long time. You need a lot of patience if you want your capital to grow, look at the early adopters and where they are right now except of course to those who've lost their coins somewhere.

[piebeyb]

somehow people are waiting for it to go below $15k or hit $10k if it's actually above $19k it's much cheaper and it will last until the whales are tired of dumping their bitcoins below $20k, so it's just a matter of time to go to the next bull market, watch in a few bitcoin time is never far from the price of $20k either below or above

[Beparanf]

Though i never get the exact point you're trying to come up with inbthis approach but i can tell you that bitcoin is incomparable to altcoins or the fiat currency regardless of the denomination, what youbassume to be the prediction or determinant for bitcoin price isn't it at all, what makes bitcoin rise or fall is majorly on its demand and supply and notbthe stock market values of other fiat currencies, they can't determine the fate to bitcoin even at this peak period of USD, it rises and likely to fall over time, bitcoin value is far ahead them in many ways that fiat does not affect or determines it value or rate

I think he is assuming that Bitcoin should be dump in proportion US equity market drawback since there is a lot of loss on the global market since the bear market start yet Bitcoin still holding to this price level which is still high.


This is normal @OP because there is alot of whales that still not selling that holds the majority of Bitcoin holding since the bull run start like Microstrategy and Grayscale. They are the reason why the price is still hih despite the global market is crumbling.

[Jody.Drummer]

somehow people are waiting for it to go below $15k or hit $10k if it's actually above $19k it's much cheaper and it will last until the whales are tired of dumping their bitcoins below $20k, so it's just a matter of time to go to the next bull market, watch in a few bitcoin time is never far from the price of $20k either below or above

They will do the same thing, I mean when the price of bitcoin is 20k they wait for the price of 15k, and just say bitcoin goes down to 15k they will definitely say "i wait until bitcoin reaches 10k". Laugh out loud. If they really want to buy I don't think they should do that, what they are doing is a waste of opportunity. It's not wrong for them to do this, but how long will they wait for something like that? until they realize that what they are doing is not right? Honestly, I can't stop thinking about this.

[bitcampaign]

where people sell their bitcoins that's where microstrategy will buy it from their hands, as long as it's under $20k saylor will continue to buy it and he believes in the future of bitcoin, so people who throw it cheap today may not understand the future so they choose to sell cheap and suffered a loss, the price continued to swing at $19k and $20k occasionally below $19k then pushed up again, that's what happened where many sellers threw cheap prices that's where big investors came to buy it, don't ask again why bitcoin didn't go down look at this already down more than 50% of the Bitcoin ATH price

[logfiles]

Aren't you paying attention, mate?

What is a decrease from 69K to 17K to you? A pump?
Don't be like those people who waited in 2020 for Bitcoin to drop from 3K to 1K so that they can buy it, and it never happened. Buying at the current price is an equally good opportunity. I mean in the next bull cycle, at least you are assured of reaching at least the 69K level

[DoublerHunter]

where people sell their bitcoins that's where microstrategy will buy it from their hands, as long as it's under $20k saylor will continue to buy it and he believes in the future of bitcoin, so people who throw it cheap today may not understand the future so they choose to sell cheap and suffered a loss, the price continued to swing at $19k and $20k occasionally below $19k then pushed up again, that's what happened where many sellers threw cheap prices that's where big investors came to buy it, don't ask again why bitcoin didn't go down look at this already down more than 50% of the Bitcoin ATH price

^BTC price was struggled so much these days because of the weak hands selling their BTC at the lower price.
It will prolong since there are a lot of people who keep doing this, they are not long-term holders, they are preferred to earn in a short period of time which is most of them are looking the profit, not as an investment for a long period of time. Those people who believe that BTC has a bright future will receive a better reward at the end of the day. It is proven that BTC prices will always have an ATH, think about this OP.

[jossiel]

Get back on how it went just after it has reached from ATH and down to the little dumps that we've become. I guess that's fair enough to look at that perspective because it had went down a lot for real.

There's not that much selling pressure anymore but we don't know what will happen next. This is where I'm always thinking what shall happen next, if a surprise rise will happen or another quick dip.

[dothebeats]

Because that's what most people deem its current value is at the moment. A lot of infrastructures, services, businesses, and other platforms are built with, by, and around bitcoin, and for sure these 'stakeholders' don't want bitcoin to go down the drain. Aside from that, the price action also helps prevent bitcoin from going down so much because a lot of traders are willing to buy x amount of coins in the current price to negate selling pressure. There's a lot more to it, really, but this covers the basics on the answer to your question.

[Quidat]

We just nuked from $40k down to around $18.5k in like 5 months; that's a huge enough drop, at least for now. And whose to say we ain't gonna drop further? As it's definitely still very possible. Sometimes bear markets can take longer than people think.

Expect the unexpected as always because price could neither go up or down without even us expecting that it could really reach out those numbers.We've been through lots of things specially to those
people who had been already on this market for couple or long years which its impossible that you wont still able to make yourself aware about these stuffs.
Bitcoin could go lower or able to break that 18k support whether it would be supported by some fundamentals or news or just totally be moving down without any
sentiments around.This is what make things more hard to predict is on that you dont really have any idea on where it could go next.

[pooya87]

Well for starters bitcoin is a global currency with a global market not just an American one. That means the US economy falling apart is only affecting a small percentage of the world not all of it, so if anything it should only affect that percentage not the rest of us.

Secondly bitcoin has never followed any other market despite what some people are desperately trying to convince us that it does. If anything whenever all other markets are failing the capital that exits all those markets has to go somewhere and bitcoin can be a good choice.

Whether bitcoin is going to go any lower, I can not tell. But one thing is certain, it will not go down because some markets in US are dumping hard.

the dollar Skyrocket into I mean almost all-time highs are essentially all-time highs in many different currencies especially the pound and the Euro.

You are confusing other fiats dumping with dollar going up. It did not. You can see the price of everything in US that has gone up against dollar which is a clear indication that US dollar is dumping.
The thing is that other fiats like Euro and Pound are dumping more than US dollar so the exchange rate against dollar goes up creating the misconception that dollar has gone up!

[Mauser]

The easiest explanation for why the Bitcoins price is not going below the 17-18,000 USD barrier is that there are too many investors in the market starting to buy again at the these cheap prices. I remember that quite a few big crypto investors stated when the price was around 30,000 USD that they would be buying once the price drops below 20,000 USD. Robert Kiyosaki was one of the investors who talked on Twitter about the 17,000 floor for the Bitcoin price. Another explanation is that Bitcoin investors are unwilling to sell their coins below such a cheap price. So once bitcoins drops below 20,000 USD again many of the potential sellers are leaving the market and reducing the supply of bitcoins at the exchange. The expectations of the buyer and seller need to match for the a deal to happen. I am glad the price is not going lower and will hopefully recover soon again.

[xzy887]

Do you know what you are talking about?
I think you should know more. Because Bitcoin's fall from 69K to 18K seems low to you? Do you want to see bitcoin fall? Of course it will never happen. You have to change your thinking. I think Bitcoin has come down a lot and now has to go up. And that will happen very soon.

[piebeyb]

somehow people are waiting for it to go below $15k or hit $10k if it's actually above $19k it's much cheaper and it will last until the whales are tired of dumping their bitcoins below $20k, so it's just a matter of time to go to the next bull market, watch in a few bitcoin time is never far from the price of $20k either below or above

They will do the same thing, I mean when the price of bitcoin is 20k they wait for the price of 15k, and just say bitcoin goes down to 15k they will definitely say "i wait until bitcoin reaches 10k". Laugh out loud. If they really want to buy I don't think they should do that, what they are doing is a waste of opportunity. It's not wrong for them to do this, but how long will they wait for something like that? until they realize that what they are doing is not right? Honestly, I can't stop thinking about this.

people who are waiting at the bottom usually always miss the train when walking and enter the bull market usually those who are lagging are always used to buying high and selling low, that's funny even though the price of $19k is already cheap and I'm not sure it will go to $10k too so let it go they are people like this waiting for cheaper prices in their dreams   

[Techkoy407]

maybe you already know, or don't know but I will remind you,
that crypto, especially bitcoin is not affected by fiat money or stocks,
because what makes the market go up and down is

• balance of supply and demand
• news can also influence, especially on investor psychology
• the quantity of the crypto itself (bitcoins)

as far as i know so far that is how it affects the crypto (bitcoin) market