Expectation Rock Bottom Level Bitcoin

[Baofeng]

I just don't expect a Bitcoin/crypto bull market before January 2025. Buckle up for a crypto winter in 2023 and 2024.

Yeah, maybe in the first 3 months of 2024, we might hit the tail end of the bear market. But after the halving, a slow increased in price leading up to the eventual bull run, but still a long way to go to talk about it. 

I don't care about the BTC price going below 10K USD. Even 5K USD price bottom is possible, but there will be a price recovery, unless all crypto exchanges collapse as a house of cards and the crypto market returns back to the 2014-2017 "glory days".
Selling during a period of panic/bear market/crypto winter is always a wrong move, but many traders simply need cash and they don't have any alternative other than selling their crypto. The global stock markets will be facing a winter as well. Big tech corporations had overpriced stocks for years and now their stocks are dropping like rocks.

Doesn't matter what will be the rock bottom, but for TA guys, maybe it's important because they can project what will be the future ATH. But for some non TA guys, maybe what's important is how long the price can go and how are we going to react to it. Do we need to wait further or just buy every dip thru DCA.

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[el kaka22]

The difference between knowing bitcoin price will be high and buying right now and knowing bitcoin price will be high and buying when it is 5k is a lot. Even if we assume it is 15k right now (it's more) there is 3 times difference.

So let's assume you bought 1 bitcoin at 15k, and sold it at 100k that is an 85k profit, but if you buy 3 bitcoins at 5k each, that is still 15k spent, but when it's 100k that would be 300k, that means 285k profit. That is the difference, so people waiting for it to drop even more do not make a mistake, only a mistake if it doesn't drop. I believe it won't drop, that's why I buy now, but if it does, then they were right for waiting for it to go down.

[kawetsriyanto]

I understand that the expectation is that between 10k-13k will be the Bitcoin value before it steady will go up. But could it be that at 16k it will hold and grow from there?

Not everyone expects the bottom to be $10k-$13k. I personally expect that the Bitcoin price can survive above $15k, I think it is enough to be the bottom. Considering the last ATH is around $68k-$69K, it is already decreasing more than 75%. However, we can't determine what the bottom will be. It is something impossible to know, it can be above $15k but it is also possible to drop below $15k. But since the first year of bearish is almost over, ideally we reached the bottom already or almost reached the bottom. The bottom won't be far from the current price.

IMO

[edward500]

Not everyone expects the bottom to be $10k-$13k. I personally expect that the Bitcoin price can survive above $15k, I think it is enough to be the bottom. Considering the last ATH is around $68k-$69K, it is already decreasing more than 75%. However, we can't determine what the bottom will be. It is something impossible to know, it can be above $15k but it is also possible to drop below $15k. But since the first year of bearish is almost over, ideally we reached the bottom already or almost reached the bottom. The bottom won't be far from the current price.

IMO

Its hard to believe also it will go much lower than 15K. Things are just about as bad as they get right now. The FED is raising interest rates, the stock market is collapsing, mass layoffs coming, global recession, global inflation, world energy crisis, major wars and potential wars,  FTX doom and gloom FUD. Things are pretty bad right now and as bad as they can get at this point.



Not only that bitcoin dropped a massive 70%+ since the all time high.

I'm slowly adding a little bit down here, but I am really scared too add to much so I am buying all the FUD. However, I did hear that these scary times are the best times to buy so I am trying to override this fear and buy even though I sometimes wonder if bitcoin should have never reached as high as it did, or even 15K and could just correct back down to $1000 a coin.

[hatshepsut93]

I understand that the expectation is that between 10k-13k will be the Bitcoin value before it steady will go up. But could it be that at 16k it will hold and grow from there?

Yes it could, just recently Bitcoin was on good track of consolidating around 20k and higher. Until FTX happened. If no bad things happen from now on, there's no strong reason to go below the current prices.

But you shouldn't  rely on short-term price predictions and instead focus on trends. Now is the bear market, which means it's a good time to buy, regardless if it's the absolute bottom or not. Because a new bull market will come that will bring a much higher price levels.

[Silberman]

I understand that the expectation is that between 10k-13k will be the Bitcoin value before it steady will go up. But could it be that at 16k it will hold and grow from there?

At this point anything is possible, so 16k being the floor for bitcoin would not be impossible, however the bull market will not come until 2024, are we really expecting that the market is not going to suffer any crash during this period? And even if this happened do you think the price will not go below 16k? Because I find this difficult to believe, it could happen but if I were to guess I would think there is still some room for the price of bitcoin to go down even further.

[rokok lokal]

BTC on weekends doesn't experience much price change, it tends to be sideways. If you see BTC is in the sideways range 17020 - 16300. This accumulation will later move impulsively when it exits the sideways range and now the price is $ 16,687.31

[ethereumhunter]

I understand that the expectation is that between 10k-13k will be the Bitcoin value before it steady will go up. But could it be that at 16k it will hold and grow from there?

The price may stabilize at the current level of $ 16k but it could also decrease even further and that depends on people's sentiments towards the movement of bitcoin and the news circulating. If they could restrain themselves after reading the news, it wouldn't trigger instant sales as panic swept over people. And it's not going to make bitcoin drop sharply and it might be able to stay in its current price range. For now, the bitcoin price is still holding steady at $16k but we don't know what will happen next month or the end of the year. Hopefully, there has already started a reversal of the direction of the bitcoin price and even if it doesn't get above $25k yet, that should be okay.

[LittleBitFunny]

The difference between knowing bitcoin price will be high and buying right now and knowing bitcoin price will be high and buying when it is 5k is a lot. Even if we assume it is 15k right now (it's more) there is 3 times difference.

So let's assume you bought 1 bitcoin at 15k, and sold it at 100k that is an 85k profit, but if you buy 3 bitcoins at 5k each, that is still 15k spent, but when it's 100k that would be 300k, that means 285k profit. That is the difference, so people waiting for it to drop even more do not make a mistake, only a mistake if it doesn't drop. I believe it won't drop, that's why I buy now, but if it does, then they were right for waiting for it to go down.

Your example is 2 prices with a huge difference, so there may be many people waiting. But here, we have dropped from 69k to 16k which is a huge drop and if bitcoin continues to drop to 13k the difference here is not so big. I will call we are near the bottom, so I will not make predictions in this case I will decide to buy at the price from now on. If bitcoin continues to fall I will not regret because the price difference is not significant but if bitcoin goes up from here many people will regret waiting.

[palle11]

But could it be that at 16k it will hold and grow from there?

This question is difficult for any one to give a correct response because price fluctuation can move anywhere. Btc price started to drop early IMO and it dropped to around 25k-30k where investors thought it would gain momentum for a continuation of bull but it drop within $20k above and now trading below. This is a trend happening since after the ATH, so if the down trend will continue down or not is left for the future to determine.

[RealMalatesta]

But could it be that at 16k it will hold and grow from there?

This question is difficult for any one to give a correct response because price fluctuation can move anywhere. Btc price started to drop early IMO and it dropped to around 25k-30k where investors thought it would gain momentum for a continuation of bull but it drop within $20k above and now trading below. This is a trend happening since after the ATH, so if the down trend will continue down or not is left for the future to determine.

I fear that it’s not going to be as easy as it used to be to calculate it this time around because the difference is that there are too many out of bitcoin related stuff that causes the drop. There used to be a simple fundamental analysis or technical, where you check the ma, or ema, or Bollinger band or whatever was your best bet and you did it, but at the end of the day it’s going to be not so much important anymore because nowadays none of that matters.

We are just basing all of our trades all on the fact that some "news" could break out, and that could cause the price to either crash or just go up, and that’s the thing, we don't read charts anymore because charts do not really show anything anymore.