BTC is likely to head towards a price of $13,000

[wxa7115]

I believe we reached the bottom already last month. No need to wait and hope for bitcoin to drop to $13,000. So it was $15,000+ only unless a big disaster will once again affect the market. Bitcoin will start to recover and will have a mini bull run. I am still highly speculative that the next halving year remains the start of the real bull run where new ATHs will be reached. So we still have over a year of accumulation before the next halving.

I believe it is possible we have already went through the bottom of this cycle, but the market is so unpredictable that at this point it is difficult to make a prediction regarding this point as another exchange could crash and force the market to go down again.

Now if we are lucky and this does not happen we could see an upward correction, but I doubt we could see a small bull run as too many people are still scared about what happened and could sell their coins as soon as the price crossed the 20k resistance level.

[1714680833]

1714680833

[Poker Player]

I believe it is possible we have already went through the bottom of this cycle, but the market is so unpredictable that at this point it is difficult to make a prediction regarding this point as another exchange could crash and force the market to go down again.

Now if we are lucky and this does not happen we could see an upward correction, but I doubt we could see a small bull run as too many people are still scared about what happened and could sell their coins as soon as the price crossed the 20k resistance level.

If you ask me, I would say that we have most likely already touched the bottom. But simply because of a hunch. It is clear that if we have more negative news, like the many we have had this year, the price can go even lower. But now we are a year and a half away from the next halving, we have suffered a considerable drop from the highs, and a good part of the leverage that caused the catastrophe has already evaporated, so I think we are in a cleaner ecosystem, with a stronger base, on which we can start to rise.

[Uzairjutt275]

The recession understands people like you who are facing Investment and financial difficulties. Do you feel that a bear market in risk assets mimicking the global financial crisis, big losses are yet to come?

I think bear market is still alive and people think that Bear Market finished and bull market will be start. But it is too difficult situation to decided that bull market start or not. This market confused many investors to invest in Bitcoin because many people think that it's price will dump and fall at $13k.

[fuguebtc]

I believe it is possible we have already went through the bottom of this cycle, but the market is so unpredictable that at this point it is difficult to make a prediction regarding this point as another exchange could crash and force the market to go down again.

The market always makes us go from surprise to surprise. When most people believe we have bottomed and bitcoin will rise from here, the market will find a way to let us down, remember, when bitcoin hit 17k in June, many people had the same prediction.

Now if we are lucky and this does not happen we could see an upward correction, but I doubt we could see a small bull run as too many people are still scared about what happened and could sell their coins as soon as the price crossed the 20k resistance level.

Likewise, when there are many people who do not believe that the market will rally and who doubt that the market will go up, the market will go up despite their fears and doubts. What I want to emphasize here is to do the opposite of the crowd.

[Hypnosis00]

The recession understands people like you who are facing Investment and financial difficulties. Do you feel that a bear market in risk assets mimicking the global financial crisis, big losses are yet to come?

I think bear market is still alive and people think that Bear Market finished and bull market will be start. But it is too difficult situation to decided that bull market start or not. This market confused many investors to invest in Bitcoin because many people think that it's price will dump and fall at $13k.

The direction of the market is still unknown. Honestly, we have no clue how long this bear season will stay and how far the dip will go.
$13k, $10k...that is possible in this situation. Well, we just hope it won't happen and the dip will not able to continue deeper as this certainly adds more panic and emotional stress to the investors.

However, it was not the time to lose confidence that there are no more drops because even this December, will not think that the market is at peace as FUDs and negative news keep rolling and roaming around.

[Joshapat]

Yesterday the price has touched $ 17k unfortunately today dropped again, of course this is a warning to continue to monitor prices, I have more online time when the weekend and if the price drops below $ 15k then I will sell around 50% of assets, and for Buying of course I see the situation in the market.

[Maslate]

The recession understands people like you who are facing Investment and financial difficulties. Do you feel that a bear market in risk assets mimicking the global financial crisis, big losses are yet to come?

Anything could happen, it could even go down below $10,000 and we should not be surprised by that. Actually, bitcoin is not affected much by the current economic status, just like before, when Covid-19 hits the world, instead of bitcoin dropping, bitcoin had a new ATH at that period which is very surprising.

What I'm saying is, bitcoin is unpredictable, so expect the unexpected to happen.

[TravelMug]

The recession understands people like you who are facing Investment and financial difficulties. Do you feel that a bear market in risk assets mimicking the global financial crisis, big losses are yet to come?

Anything could happen, it could even go down below $10,000 and we should not be surprised by that. Actually, bitcoin is not affected much by the current economic status, just like before, when Covid-19 hits the world, instead of bitcoin dropping, bitcoin had a new ATH at that period which is very surprising.

What I'm saying is, bitcoin is unpredictable, so expect the unexpected to happen.

Yes, bitcoin market is very volatile hence it's unpredictable, I see one good TA here saying that $17,500 is already the bottom, but that was not the case because TA cant' see the FTX collapse. Even when the Covid-19 hits the world, we were all unprepared with it, the prices even drop so low at $3k, but yet we survived.

So for now, let's say that there could be a higher chance of $13k, and when we hit the price we should take advantage of it. I mean it is so cheap that we couldn't do anything but to buy and accumulate more bitcoins in our wallet.

[Wong Goblog]

FUDS and Speculation is negative that Bitcoin will continue to go down to make many people panic and sell loss, many observers give predictions that prices will continue to fall and some even say below $ 10K, and whatever happens with Bitcoin even though the price is dropped but we must be calm and Don't sell in a loss condition.

[STT]

Its respecting the trend since late November I think though  we have sold off if that point continues to be held and we have support to trade off then BTC should be alot more able to move positively I think.  At present we lack momentum as thats been reset by the last sell.


So about 17k is required presently to call BTC as moving with positive price action but I dont believe it has gained a negative trend just yet.

[Joshapat]

I think the lowest point of Bitcoin prices is in the current year, I'm sure slowly after the big case of FTX faded, the market immediately drop, don't be afraid or panic when you see the price of drops to $ 13k, but use that time to buy.

[Sang Prabu]

Since the price of bitcoin dropped below $ 30k a few months ago I did not have a special target that in the short term the price will skyrocket, I bought when rising and once bought at $ 56k, until now I was still hold and if the price continues to fall then the best option I do is keep buying.

[rodskee]

Its respecting the trend since late November I think though  we have sold off if that point continues to be held and we have support to trade off then BTC should be alot more able to move positively I think.  At present we lack momentum as thats been reset by the last sell.


So about 17k is required presently to call BTC as moving with positive price action but I dont believe it has gained a negative trend just yet.

Yes there are some negative still circulating this December as we wanted to see positive but yet drowning to 13k level isn't coming that soon or at least this year of 2022 , in any hopes to dump the price yet it keeps standing high.

we will close 16-18k this year but the coming is what is really risky , because the FTX effect will take place in 2023 as we all expected.

I think the lowest point of Bitcoin prices is in the current year, I'm sure slowly after the big case of FTX faded, the market immediately drop, don't be afraid or panic when you see the price of drops to $ 13k, but use that time to buy.

that really hurt the market badly , and affecting all coins not only bitcoin but of course the total damage says it all.

[2double0]

The distribution of wealth in case of Bitcoin is not yet done correctly IMHO.
According to blockchain analytics company Glassnode, the number of wallets holding at least 1 BTC or more reached 950,000. source

This surge means that we are moving towards more accumulation but there are still huge wallets holding values that can turn the tides of the market and it is one dangerous thing that needs to be taken out in markets so that the classification of btc gets into more hands and less manipulation and less panic will be there.

Till this is achieved, I think that a possibility of a dump is imminent.

[Sayeds56]

The recession understands people like you who are facing Investment and financial difficulties. Do you feel that a bear market in risk assets mimicking the global financial crisis, big losses are yet to come?

GDP is still growing at 2.6% in USA as indicated in 3rd quarter data,recession is not likely to hit USA so soon as most of analysts are predicting all over the world, FED chairman will do everything he can to avert fear of recession from the market. High interest rates have increased the cost of doing business but it will not continue for ever & I hope in the next FED meeting we will give clear indication of beginning of reversal from current money tightening policy.

Bitcoin is now stable around 17K and hopefully we will see some relief rally next week. DYOR

[Vinaa77]

The recession understands people like you who are facing Investment and financial difficulties. Do you feel that a bear market in risk assets mimicking the global financial crisis, big losses are yet to come?

Crypto assets do not imitate the global financial crisis, but the global financial crisis will affect crypto assets. If a global economic crisis, or a global financial crisis occurs, most investors will withdraw their assets from crypto and use them for real asset needs. This will have an impact on the continuous decline in crypto prices. So there is a correlation between crypto assets and real assets.

[cryptomaniac_xxx]

The recession understands people like you who are facing Investment and financial difficulties. Do you feel that a bear market in risk assets mimicking the global financial crisis, big losses are yet to come?

Crypto assets do not imitate the global financial crisis, but the global financial crisis will affect crypto assets. If a global economic crisis, or a global financial crisis occurs, most investors will withdraw their assets from crypto and use them for real asset needs. This will have an impact on the continuous decline in crypto prices. So there is a correlation between crypto assets and real assets.

Or any other financial and traditional market for good, correlation can't be denied. As for the price heading to lower than what we are seeing right now? well we all know that no one can predict it. There are so many factors why the prices will go down. One thing is that we should keep calm and patience and not just sell our bitcoin to those whales because that's what they want, panic and then newbies selling to the whales.

[fadhilz123]

Crypto assets do not imitate the global financial crisis, but the global financial crisis will affect crypto assets. If a global economic crisis, or a global financial crisis occurs, most investors will withdraw their assets from crypto and use them for real asset needs. This will have an impact on the continuous decline in crypto prices. So there is a correlation between crypto assets and real assets.

There may be downsides to crypto assets during the global financial crisis, but good crypto assets like Bitcoin will still be valuable in the eyes of many investors. Because when the price decline continues to occur in Bitcoin, investors are also eager to buy Bitcoin at a low price even though they have to temporarily save their funds into real assets or into stable assets so they don't experience loss.

But in general they are investors who always like Bitcoin and will be very happy to buy it at a low price, especially if they have been very patient when investing or after buying more Bitcoin in the market. So don't be too afraid of the decline caused by the global financial crisis, because price increases will always occur after bad problems such as the global financial crisis are over.