Could this be the bottom of Bitcoin?

[S A KHAIR]

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?  

And now the bitcoin price has dropped below 17k, so there is no hope of a bull run by year-end. What I'm thinking is that with all the negative news flooding the market, we're going to have a new bottom at the start of the new year and maybe that will be the last bottom we face.

[CageMabok]

And now the bitcoin price has dropped below 17k, so there is no hope of a bull run by year-end. What I'm thinking is that with all the negative news flooding the market, we're going to have a new bottom at the start of the new year and maybe that will be the last bottom we face.

What makes people think about the Bull run at the end of the year? Because I myself never thought about the bull run that could happen at the end of the year. And if you look at last year's example, in April Bitcoin had a bull run and then in November for the second bull run in a year. Now, for this year, I don't think there will be another bull run because the already very large decline in Bitcoin makes the possibility of another bull run getting smaller this year.

[JoyMarsha]

Whether Bitcoin will continue to decrease or increase is unpredictable. Investors have the opportunity to buy additional bitcoin or sell their existing bitcoin for profits regardless of how much the price of bitcoin drops or rises in the near future. Investors benefit from either of them (price increase or decrease), regardless of what happens. For those that are prepared to wait patiently and hodl for all of this to happen, it is a win-win situation for them

[fzkto]

And now the bitcoin price has dropped below 17k, so there is no hope of a bull run by year-end. What I'm thinking is that with all the negative news flooding the market, we're going to have a new bottom at the start of the new year and maybe that will be the last bottom we face.

What makes people think about the Bull run at the end of the year? Because I myself never thought about the bull run that could happen at the end of the year. And if you look at last year's example, in April Bitcoin had a bull run and then in November for the second bull run in a year. Now, for this year, I don't think there will be another bull run because the already very large decline in Bitcoin makes the possibility of another bull run getting smaller this year.

I assume that the current price range could be higher than the expected bottom. The fact alone gives me confidence that next year will be better. It is the red annual candle on the chart. So far in bitcoin history, there have never been two red annual candles in a row. So I hope this pattern will not break.

[franky1]

I read your reasoning about the cost of mining bitcoin. And it seems to me too that right now anyone has a good opportunity to buy cheap bitcoin. But what if there is an energy crisis in the future, as some say. What if the big miners leave the field and sell the mining equipment. It could happen that the difficulty of mining would drop. Then the value of bitcoin will drop too. Especially since there will soon be a new halving, and at the usual cost there will be half as many coins mined.

the hobby miners that change their minds daily will drop first(they have the highest costs anyway)
this then means there is less competition and more coin to give to the large industrial efficient miners. thus bringing more coin to those base cost miners. which then balances out the industrial miners larger costs.

larger mining cost would increase. but not at a fast/large swing compared to the hobby miners

at the halving yes coins rewarded halve and the competition game happens again

this is why you see asics get more efficient
in 2016
2.8kwh only hashed about 9thash..
in 2017
2.8kwh only hashed about 26thash..
in 2020 now this december
2.8kwh  hashes about 130thash..

thats a 3x then 5x efficiency gain in 6 years
meaning the halving effects of 2016 got taken care of and also the halving of 2020 got taken care of

[boltz]

Whenever we think we saw last bottom of Bitcoin , there comes another one and then another one.For now we should just see where this is going ,with  bear market in full control and chances to see Bitcoin under 15k in 2023 are very possible. Even support of Bitcoin is kinda settling into 15k direction and this is one of the signals we should be aware of it for now.  

[franky1]

Whenever we think we saw last bottom of Bitcoin , there comes another one and then another one.For now we should just see where this is going

ofcourse there are bottoms

2009-2011 >0.04
2012-2014 >4.00
2014-2016 >200.00
2017-2019 >900.00
2020-2022 >4000.00

just be happy those bottoms are going up

[lienfaye]

Could the price of Bitcoin fall further?
What do you think about this?  

There's a possibility for the price to fall further as anything can happen even the unexpected. But I believe it won't fall below $10k since for sure many investors will already take advantage the low price. Anyway I don't want to focus monitoring the current price since it can't help me to stay firm to keep on holding. Thus don't stress yourself and do some activities so you can forget for a while this bear season. Keep in mind it's not permanent though it might take time to recover.

[Tony116]

Could the price of Bitcoin fall further?
What do you think about this?  

There's a possibility for the price to fall further as anything can happen even the unexpected. But I believe it won't fall below $10k since for sure many investors will already take advantage the low price. Anyway I don't want to focus monitoring the current price since it can't help me to stay firm to keep on holding. Thus don't stress yourself and do some activities so you can forget for a while this bear season. Keep in mind it's not permanent though it might take time to recover.

I'm the opposite of you, I watch the bitcoin price daily, and I predict it will drop to 10k, although that I also think is very unlikely, but with bitcoin anything is possible. When many people don't believe it falls more, it will continue to fall. I have some bitcoins at 20k, but I don't feel too worried when bitcoin drops more, I still have fiat money and want to buy more bitcoin cheaply. I don't claim that bitcoin will hit $100,000 but I believe it will, so a bigger drop will do us more good than harm.

[SquallLeonhart]

I watch the bitcoin price daily, and I predict it will drop to 10k, although that I also think is very unlikely, but with bitcoin anything is possible. When many people don't believe it falls more, it will continue to fall. I have some bitcoins at 20k, but I don't feel too worried when bitcoin drops more, I still have fiat money and want to buy more bitcoin cheaply. I don't claim that bitcoin will hit $100,000 but I believe it will, so a bigger drop will do us more good than harm.

You predict about reaching $10k only by watching or through any analysis? But, I have seen hundreds of thousands of technical analysis do get failed due to various news and events hence nothing makes me to worry. Even bitcoin falls up to your prediction, I will find that another round opportunity to grab more. Basically when more people believe into something, that will happen for 101%.

We are about to enter a new year which might bring changes to the trend of bitcoin market. So, roughly we may assume that we are currently at bottom of market and buying right now will lead to big profits both in next 2 years of time.

[wxa7115]

You predict about reaching $10k only by watching or through any analysis? But, I have seen hundreds of thousands of technical analysis do get failed due to various news and events hence nothing makes me to worry. Even bitcoin falls up to your prediction, I will find that another round opportunity to grab more. Basically when more people believe into something, that will happen for 101%.

We are about to enter a new year which might bring changes to the trend of bitcoin market. So, roughly we may assume that we are currently at bottom of market and buying right now will lead to big profits both in next 2 years of time.

My approach is slightly different, obviously as an investor when I invest in bitcoin I expect the price of bitcoin to go up in the future, however whenever I buy I ask myself, do I feel comfortable buying at this level? If bitcoin instead of going up in value went down could I still hold it?

If more investors asked themselves those simple questions and were honest on their answers they will save themselves a lot of trouble, and they will no longer sell in panic just because the price went down a little bit, as this would have been in consideration from the very beginning before they even bought bitcoin, but it seems asking for something as simple as this is too much for most investors, and as soon as the market moves against their prediction they sell in panic.

[Tony116]

I watch the bitcoin price daily, and I predict it will drop to 10k, although that I also think is very unlikely, but with bitcoin anything is possible. When many people don't believe it falls more, it will continue to fall. I have some bitcoins at 20k, but I don't feel too worried when bitcoin drops more, I still have fiat money and want to buy more bitcoin cheaply. I don't claim that bitcoin will hit $100,000 but I believe it will, so a bigger drop will do us more good than harm.

You predict about reaching $10k only by watching or through any analysis? But, I have seen hundreds of thousands of technical analysis do get failed due to various news and events hence nothing makes me to worry. Even bitcoin falls up to your prediction, I will find that another round opportunity to grab more. Basically when more people believe into something, that will happen for 101%.

We are about to enter a new year which might bring changes to the trend of bitcoin market. So, roughly we may assume that we are currently at bottom of market and buying right now will lead to big profits both in next 2 years of time.

Analyzing and making predictions does not mean it will happen, no one can predict bitcoin price 100% accurately. If you believe 100% in analysis, you will always fail in the market, all for reference only, and always have a plan B for yourself.

Entering the new year means nothing to the market, not big news that will impact the market. The market needs positive news about the economy and war as well as news related to the market to be able to hope for a bull market. But you are right that if we buy now and hold, we will be profitable in the long run.

[Nrcewker]

Whenever we think we saw last bottom of Bitcoin , there comes another one and then another one.For now we should just see where this is going ,with  bear market in full control and chances to see Bitcoin under 15k in 2023 are very possible. Even support of Bitcoin is kinda settling into 15k direction and this is one of the signals we should be aware of it for now.  

I would rather suggest, not to wait for long. I mean if we greed more and wait for more low or bottom of Bitcoins, then definitely we will miss the best price when we should have bought the Bitcoins. Now if the price boosts up, many people will start complaining that they missed the golden opportunity to buy the Bitcoins at 16k usd price segment. According to me Bitcoins have really great capacity and capabilities. The marketcap of Bitcoins proves this. So if we are able to buy some Bitcoins under 17k usd, then consider ourselves lucky. Just buy the Bitcoins and hold for few months. Definitely profit gonna come into your pocket.

[KingsDen]

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?  

Bitcoin may not be at the lowest bottom but it is at the bottom region. We may not know the exact bottom so it is safer we begin to DCA from here so that we will be advantaged anywhere the dip will be reach. Just buy now so as not to regret in the future.
This is buy time let's enjoy it as it lasts.

[Kelvinid]

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 we only just know what really happens next in Bitcoin but unfortunately, we don't that is why the only thing we can do is to assume that it was already the bottom price or not - or maybe.

Well, at least the price never dumps badly like in the previous bear season where the price of Bitcoin reaches below $5k, we're just more than 3x far from it. But as it was said, we can't assume this will be the last drop that ever happen this bear market, never know exactly.

[Raflesia]

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?  

Bitcoin may not be at the lowest bottom but it is at the bottom region. We may not know the exact bottom so it is safer we begin to DCA from here so that we will be advantaged anywhere the dip will be reach. Just buy now so as not to regret in the future.
This is buy time let's enjoy it as it lasts.

It's true, we won't know whether this is indeed the bottom or there will be another bottom for this because indeed questions like this can only be answered by speculation without any certainty because we really don't know what will happen in the future whether it will continue to go down or maybe it will be in a bull run. but one thing is for sure, as you said DCA is very important on this and buying while you can is the best thing to do.

[stomachgrowls]

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?  

Bitcoin may not be at the lowest bottom but it is at the bottom region. We may not know the exact bottom so it is safer we begin to DCA from here so that we will be advantaged anywhere the dip will be reach. Just buy now so as not to regret in the future.
This is buy time let's enjoy it as it lasts.

It's true, we won't know whether this is indeed the bottom or there will be another bottom for this because indeed questions like this can only be answered by speculation without any certainty because we really don't know what will happen in the future whether it will continue to go down or maybe it will be in a bull run. but one thing is for sure, as you said DCA is very important on this and buying while you can is the best thing to do.

Hunting for bottom is a never ending kind of task or something that a target that we are really that aiming on this crypto investment that we do have.Making up some buy position is something that is always been a

challenging thing because this market is unpredictable.There's no way that we could really predict out on what would happen next.If you do believe that this is already the bottom then you could always opt in

to buy and its up to someones choice but of course the risk always accompanied on every actions that we would really be making.Lots of speculations and guesses are floating
around and its important that you should stick into your own.

[Piesel]

I try as much as possible to stay away from speculating Bitcoin price, but in truth, Bitcoin has reached its lowest bottom even though many investors don't think the same and are expecting the price of Bitcoin to fall further.

Am optimistic that in some weeks from now, bitcoin will recover back above the $20k price but there is no guaranteed time for that to happen.

[Dave1]

I try as much as possible to stay away from speculating Bitcoin price, but in truth, Bitcoin has reached its lowest bottom even though many investors don't think the same and are expecting the price of Bitcoin to fall further.

Am optimistic that in some weeks from now, bitcoin will recover back above the $20k price but there is no guaranteed time for that to happen.

Well we can't just removed our selves from speculating bitcoin price to be honest, it's part of the ecosystem as well, even traditional markets speculates more than us so I would say it's normal to do that.

As much as we wanted to be positive in the next coming weeks, I highly doubt that $20k could be reach.

For the bottom, many predicted that $17k would be the bottom, but there are event like the FTX collapse. So maybe we will see new bottom and just be prepared, just saying.

[Fundamentals Of]

Many might not consider the price at $16,000 the bottom. I think there is indeed still a possibility that the price could fall further. It could even touch $15,000 in the coming days or weeks. But considering the situation in the market, it seems there isn't anymore a big thing that could happen so that Bitcoin could fall further below $15,000. The FUD about Binance's financial condition won't probably bankrupt Binance. With what's happening with FTX and others, it couldn't be worse anymore. So we will probably start to recover soon.