Could this be the bottom of Bitcoin?

[tokyohd]

The current price of Bitcoin is hovering around $18000. Just pumped a bit today. Bitcoin price has been using $1700 as support for the past few days.
Could the price of Bitcoin fall further?
What do you think about this?  

[Maeve@]

I think that if it has been in a sideways market, the next step will not be a decline but an increase.

[DapanasFruit]

I predicted that eventually Bitcoin will stay for some days at the $15K level but I was wrong because the arrest of Sam Bankman Friend in the Bahamas became a big good news for the crypto industry hence pushed the value of BTC to where it is now...bad news for Sam and his minions but stimulating good news for Bitcoin, for sure. I am still wishing for it to go back to $16K zone because that is where I sold my little BTC but I think I am in for some more pumps in here. So I am a little bit frustrated for myself but am happy for Bitcoin.

[mk4]

The price can always fall further. A better question would be — will it? And unfortunately, no one knows. Only time can answer your question.

[Plaguedeath]

Bitcoin price has been using $1700 as support for the past few days.

Where you see it? Bitcoin price never touch to $1,700 since 2018, I will bought all of the coins if you're selling for $1,800 you can earn $100 every coins you sold to me

Don't overconfident Bitcoin price will start to increase and wouldn't dump again, there's many bull trap during bear market. We haven't enter 2023, so there's a big chance the bottom of Bitcoin is still not yet happen. But Bitcoin price definitely will recover on 2024 and would make new ATH on 2025.

[Rikafip]

Where you see it? Bitcoin price never touch to $1,700 since 2018, I will bought all of the coins if you're selling for $1,800 you can earn $100 every coins you sold to me

It was an obvious typo, he meant $17000.


Whether price could drop further, of course it can but whether its going to happen or by how much no one really knows, and those claiming to know are full of bs. If you are trying to figure it out because you are not sure whether to buy bitcoin now or wait more, I would advise you to try DCA. That way you will stop trying to time the market (which is impossible anyway, unless dumb luck) ) and instead focus on acquiring bitcoin.

[hd49728]

The price can always fall further. A better question would be — will it? And unfortunately, no one knows. Only time can answer your question.

No one knows where is the lowest bottom for Bitcoin.
No one knows when the lowest bottom will be touched.

The next halving and its consequent bull market, will be in 2024 and it has one more year until May 2024. It is too soon to say $15k is a bottom of Bitcoin. Many things can happen in more than 15 months ahead.

Like in 2020, March, Bitcoin crashed to below $4k in surprise of all people who believe $6k is the bottom for Bitcoin before 2020 halving.

[Beparanf]

The current price of Bitcoin is hovering around $18000. Just pumped a bit today. Bitcoin price has been using $1700 as support for the past few days.
Could the price of Bitcoin fall further?
What do you think about this? 

Why everytime Bitcoin experience short term price rally a thread like this always pops asking if the price is already at the bottom? It's not necessary to buy only at the bottom since it's very to predict and determine unless the price is already on the bull run to confirmed it. There’s still a lot of uncertainty and doubt on crypto which means there's still a chance for a possible price downfall.

If we can analyze carefully the price history of Bitcoin. Another strong bullrun will occur right after the strong bearish market occur because people will always be scared on buying if they can't see the price suffer terrible loss. The current price loss from ATH is still not enough percentage wise compared to the last cycle when covid hits.

[Minor Miner]

Bitcoin price is challenging to predict, and let's remember that we are still in crypto winter, so it should be no surprise that the price continues to fall.
Bitcoin has declined this year from $69,000 to $17k. Don't just because of a small rally, bitcoin only increased by more than 4% and we rushed to celebrate and believe that bitcoin will not fall again. I know we've had a bad year, especially for those who haven't seen a market crash in previous bear seasons and we eagerly await a bull market to quench our thirst, but we need to be careful not to be fooled by the price trap.

[fennic]

The current price of Bitcoin is hovering around $18000. Just pumped a bit today. Bitcoin price has been using $1700 as support for the past few days.
Could the price of Bitcoin fall further?
What do you think about this?  

If you talk about Bitcoin bottom than nobody knows what could be the bottom of Bitcoin but still according to analysis and previous patterns, we can only guess.

According to previous bull runs and also corrections than btc has been corrected for than 80% and still it needs to correct more of almost 20%. So it can go upto 10k dollars and we do not in what time it will come but for sure it will come. And also you can buy at any time and hold for longer term to get maximize profits.

[franky1]

forget using the market price or the market history of prices to find the "bottom"

the market is the speculative premium of sentiment that sits above the bottom

the source of finding a periodic bottom is in the methods of sourcing bitcoin at the cheapest way on the planet.
this is OTC and mining(most efficient industrial scale mining on the planet).

work out that price and then you have an idea
these efficient industrial mining sources of the lowest cost bitcoin this year do not play to daily market price whims. they set their average cost over a 6-24month contract of electric and mining hardware

so cost out the mining by a 6-124 month scales  to get a better underlying value where everyone on the planet would refuse to sell below(at a loss)

enjoy

good hint
these efficient industrial scale miners have electric purchase contracts of 6month-24 months. meaning they are still rated at the 2020-21 low rates. we all know electric in 2022 is raised so future contracts that are being renewed will come at a higher cost.
higher cost=higher base value which then pushes the speculative premium of he market sentiment above the value, up

[passwordnow]

Could the price of Bitcoin fall further?

Yes.
As we know, bitcoin's volatility has always been there and it will never change so the possibility is always there that bitcoin might even fall again under $17k.
There's no guarantee that it will be staying at the top like now because we're seeing that it's starting to increase again. But, despite that, you'll never be sure when the drop will come all of a sudden.

[bittraffic]

We have been obsessed with foreseeing where the price will go for our investment to grow for which we will always ask bottom and ATH. Different users and the question have been asked countless times and although there are predictions with charts promising it can not go back to $16k back when the price hit $21k, the prediction failed.

No one could possibly go unless it already happened. The only chance to make sure it can possibly skyrocket again is when the halving is close to its date.

[cheezcarls]

The current price of Bitcoin is hovering around $18000. Just pumped a bit today. Bitcoin price has been using $1700 as support for the past few days.
Could the price of Bitcoin fall further?
What do you think about this?  

This is just another speculation. There’s no guarantee that $17k will be the bottom. If there will be another big bad news like the FTX, most likely the market will go crashing again.

I think this will just be a short term pump before it starts to correct slowly unless another big bullish news that is coming anytime. This is just my own opinion.

[taufik123]

Anything can happen and bitcoin could fall back below $17,000 depending on how the market feels and the influence of the manipulators.

Currently, the price of bitcoin is getting stronger, to find out in more detail whether bitcoin continues to be bullish or will fall again,
you can use technical analysis, which will describe where bitcoin will go.

But one guideline for me personally, is when the next bearish market will certainly be bullish, you just need to be patient.

[Nrcewker]

The current price of Bitcoin is hovering around $18000. Just pumped a bit today. Bitcoin price has been using $1700 as support for the past few days.
Could the price of Bitcoin fall further?
What do you think about this?  

You waiting for the lowest price to buy Bitcoins? Then let me tell you mate that you are making a huge mistake. I mean if you greed for more and wait further, then definitely you gonna miss the best price segment to buy the Bitcoins. Then you gonna really regret on this decision. If you are able to purchase Bitcoins anywhere below 20k usd, then consider yourself lucky. Don’t think of anything else and buy as many Bitcoins as you can in this cheap price. Once Bitcoins start pumping, it won’t stop. So buy now and enjoy profits later on.

[Lucius]

~snip~

Somehow, it doesn't seem to me that the OP is asking that question because he wants some kind of meaningful answer, because in the end, who can know where the bottom is? I would not be surprised if by the end of the year the price is even $20k, but also if after that a new crash of 20% happens again.

Everyone has the right to wait for the price they think will happen, even if it's $10k or some other low number. However, considering that the last ATH was around $70k, anyone who says that it is too expensive to invest in Bitcoin today has problems with elementary mathematics or some more serious problems. I think that all of them always have some kind of regret in their subconscious that they are not some kind of early adopters, but what is the use of that?

[Adbitco]

Why do you really get disturbed over the bitcoin price or is there something specially you wanna do with the price?
Most at times i got provoked on how they kept asking on the price, why that why this and when this when that, same questions would come again whenever the market gets high still repeat again to ask about when bear. The market has been at the lowest part which i think is actually a pretty cool time to take advantage and make your investment considering the previous ATH, lemme just break it down to you that non would give you the exact answer of bitcoin movement because they will keep speculating about the price which are not 100 percent correct.

[fzkto]

No one knows. Time will show you.
I use the easiest system for me to do without bothering analyzing chart patterns. Maybe this can be a reference if you don't do short-term trading. If the price chart becomes more and more red, that is time to buy. If the price turns green and gets higher, that is time to sell.

I agree with you. It is better not to think about where the bottom will be and buy if possible. The price has been falling for a year now and even if it continues to fall for a while, it will not happen all the time. Now everyone has a good opportunity to invest and profit in the future.

[michellee]

The bitcoin price could fall further than yesterday and that is still possible unless, after this, the bitcoin price rebounds and increases rapidly and returns to the $20k level or even more. I am okay with the bitcoin price dropping again because that is another opportunity that I can get to buy bitcoin at a lower price. But if the bitcoin price continues to increase, it is also an advantage for me because I can take the opportunity to sell some bitcoins and make a profit. You don't need to worry if the bitcoin price decreases again because the price will increase again.