Starting to Think The Bottom May Be Close?

[SamWebster84]

Firstly it is great to have found this forum, makes a refreshing change from Crypto Twitter haha.

I have been thinking over the last few days that the bottom for Crypto may be closer than we think? After all the FUD and bad economic news, it does seem that $16k was very solid for Bitcoin. I was just reading this post that I came across on Twitter: https://cryptochiefs.io/crypto-outlook-2023-is-the-crypto-winter-nearing-its-end/

What they are saying does make sense. Especially about the Fed Pivot, as I think the rises will be paused very soon. I think the economic situation will improve dramatically over the next 12 months.

This leads me to the question... so I need to start accumulating more heavily? LOL

[1715221808]

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[1715221808]

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[1715221808]

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[jackg]

We're still 500 days away from the next halving though I don't think people are going to be too optimistic about it yet. Whether we fall more or don't remains to be seen though, since most of the stuff to do with ftx and other insolvances didn't cause too much of a problem with the price, I don't think we're guaranteed to go much lower but there's still a chance a stock market crash causes everything else to panic with it (I think it's fairly likely we see one of those this year).

[Fortify]

Firstly it is great to have found this forum, makes a refreshing change from Crypto Twitter haha.

I have been thinking over the last few days that the bottom for Crypto may be closer than we think? After all the FUD and bad economic news, it does seem that $16k was very solid for Bitcoin. I was just reading this post that I came across on Twitter: https://cryptochiefs.io/crypto-outlook-2023-is-the-crypto-winter-nearing-its-end/

What they are saying does make sense. Especially about the Fed Pivot, as I think the rises will be paused very soon. I think the economic situation will improve dramatically over the next 12 months.

This leads me to the question... so I need to start accumulating more heavily? LOL

Bitcoin started to falter when a recession was starting to materialize in various strong economies around the the world, first it stumbled due to Covid and now due to Russia's invasion of their neighbor. While we have seen a recovery in business, people are still in shock and maybe the recession has not fully completed itself yet, so there could be another year or two of people being very careful with their money. It's also a lot more expensive to borrow money, while Bitcoin's massive spike was in some ways caused by the ability to borrow at very low rates. It pretty much became a game of pass the parcel until the music stopped and the game could still be running now, so people are reluctant to get back in and may be looking for the next wave to ride.

[uneng]

Bitcoin is master on the art of the unpredictable, every scenarios are possible to happen anytime, unexpectedly. What we can do is to observe the fluctuations on the present time, comparing to previous situations in order to predict the most likely next tendency. What I can say is that bitcoin is clearly showing satisfactory progress since two days ago. It's really inspiring and rewarding to watch the charts displaying the current bitcoin's steps. I can feel an optimism taking control of investors, like we haven't seen during the whole 2022's years. However, it's necessary to keep our feet on the ground to not start giving free rein to our imagination. The bear market isn't over yet and we need more evidences of investors' optimism before finally concluding it's happening for real.

[pixie85]

We're still 500 days away from the next halving though I don't think people are going to be too optimistic about it yet. Whether we fall more or don't remains to be seen though, since most of the stuff to do with ftx and other insolvances didn't cause too much of a problem with the price, I don't think we're guaranteed to go much lower but there's still a chance a stock market crash causes everything else to panic with it (I think it's fairly likely we see one of those this year).

I agree that people might not be optimistic until they get this feeling of halving being just around the corner but that doesn't mean they'll be willing to dump.

I feel like we've reached a period where there's not enough bullish people to start an uptrend but those who wanted to sell did so and people who still hold bitcoin went through a drop from a possible bottom of 30 thousand down to 15. They aren't going to get scared now because another 50% drop is very unlikely.

We're going to stay in this range until something really bullish happens that drives the price up.

Accumulating is always a good idea, but I'm really confused by people who didn't want to do it at 16 thousand but want to do it now. It doesn't matter in the long run if you bought at 17 16 or 15.

[Hamphser]

Bitcoin is master on the art of the unpredictable, every scenarios are possible to happen anytime, unexpectedly. What we can do is to observe the fluctuations on the present time, comparing to previous situations in order to predict the most likely next tendency. What I can say is that bitcoin is clearly showing satisfactory progress since two days ago. It's really inspiring and rewarding to watch the charts displaying the current bitcoin's steps. I can feel an optimism taking control of investors, like we haven't seen during the whole 2022's years. However, it's necessary to keep our feet on the ground to not start giving free rein to our imagination. The bear market isn't over yet and we need more evidences of investors' optimism before finally concluding it's happening for real.

This is what we should really be having in mind which there's no way that we could really be able to determine if this one would be the bottom or not where we could only say if it is when it is already that rising in
value or its price which is something unpredictable since from the first place.

This is why you should really be that versatile and be aware on how this market behaves so that you wont really be that everytime hassling or stressing yourself asking into your mind whether this could be it or not.
Adapt entirely when you do see on whatever price movement that it would be making.Not all would really be having that risk taking mindset when it comes to their investment but rather they would really be holding up their position and would really be observing on where it would be going, this is something a very common behavior for investors here on the market.

[JakobFugger]

There is still a lot of FUD about exchanges and all the new investment methods that have come out in the last couple of years. There is a lot of insecurity. And yet the price held at a very high level and with that, if no major problems arise in the coming weeks, it is very likely that this is the floor. But as always, any crisis can cause a new despair in the market and the fall can be big followed by a resumption of the rise soon after. Buying and holding in the portfolio can be excellent, betting on leverage is still a very high risk.

[STT]

Its close in that we are closer to the bottom then the top where we were, in optimistic view we have surely shred most of what there was to lose coming 60k plus down to here appears to be a heck of alot.  We know a ton of hype and 'froth' type action occurs in BTC pricing so in that sense the bottom pricing is a ton of more solid content and we are for sure closer.  Everything I've seen prior cycles the bottom pricing is alot slower in its movements, people get bored but in a sedate way it can be considered bullish.  Its like a tortoise and the hare type race dynamic imo, people over react to both instances and gears that BTC can be in.
  Short take , BTC has alot of work and still time ahead of it before a proper full recovery imo

[sheenshane]

This leads me to the question... so I need to start accumulating more heavily? LOL

If you can of course, it's not too late yet, you can possibly make a profit if you're willing to wait for it.
I read a lot of questions the same as you ask if it's the perfect time to invest, my answer is yes, and how much you can afford to wait?

FUDs continue spreading because of the recent news of a centralized exchange collapsing, that's why the Bitcoin price movement remains struggling at this moment because a lot of people learned from past mistakes.  Though it's unpredictable sometimes the price always matters on what happening outside or even manipulation like social media spreading the worst news about crypto.

[Fundamentals Of]

You should have started it weeks or months ago. Choose to dollar cost average your investment money rather than invest it in one big purchase. DCA during dips is especially attractive.

The volatility, uncertainty, and unpredictability of Bitcoin are high. It is better to prefer DCA over one-time investment. The price could actually go up just when you thought it's going down, and down just when you thought it's going up.

I understand that you're probably one of those who wait for a sign of recovery before investing. You might do it now. But be careful, this might just be a bear trap. Either way, DCA.

[Reatim]

Firstly it is great to have found this forum, makes a refreshing change from Crypto Twitter haha.

I have been thinking over the last few days that the bottom for Crypto may be closer than we think? After all the FUD and bad economic news, it does seem that $16k was very solid for Bitcoin. I was just reading this post that I came across on Twitter: https://cryptochiefs.io/crypto-outlook-2023-is-the-crypto-winter-nearing-its-end/

What they are saying does make sense. Especially about the Fed Pivot, as I think the rises will be paused very soon. I think the economic situation will improve dramatically over the next 12 months.

This leads me to the question... so I need to start accumulating more heavily? LOL

What is your main reason for asking this? have not mentioned if willing to invest or just curious to what will be the future prices?

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If we are going to track the chart? you'll see that bitcoin bottom cannot be predicted as the last bottom was below this value now , and had just increased 2k from it so there are so much potential for bottoming again this year.

[TravelMug]

Firstly it is great to have found this forum, makes a refreshing change from Crypto Twitter haha.

I have been thinking over the last few days that the bottom for Crypto may be closer than we think? After all the FUD and bad economic news, it does seem that $16k was very solid for Bitcoin. I was just reading this post that I came across on Twitter: https://cryptochiefs.io/crypto-outlook-2023-is-the-crypto-winter-nearing-its-end/

What they are saying does make sense. Especially about the Fed Pivot, as I think the rises will be paused very soon. I think the economic situation will improve dramatically over the next 12 months.

This leads me to the question... so I need to start accumulating more heavily? LOL

Anything can still happen, as you have said, perhaps the Feds statement about the CPI is very important. And maybe if they pause or some statement that everything is going back to normal as far as the US economies then it might be good for crypto and the rest of traditional market.

But nevertheless I will still be cautious, there are speculations saying that we haven't seen the bottom yet.

So it's better to be prepared than be disappointed, just continue to accumulate and we will be good till the next block halving and bull run.

[TrustedBitcoiner]

Firstly it is great to have found this forum, makes a refreshing change from Crypto Twitter haha.

I have been thinking over the last few days that the bottom for Crypto may be closer than we think? After all the FUD and bad economic news, it does seem that $16k was very solid for Bitcoin. I was just reading this post that I came across on Twitter: https://cryptochiefs.io/crypto-outlook-2023-is-the-crypto-winter-nearing-its-end/

What they are saying does make sense. Especially about the Fed Pivot, as I think the rises will be paused very soon. I think the economic situation will improve dramatically over the next 12 months.

This leads me to the question... so I need to start accumulating more heavily? LOL

Anything can still happen, as you have said, perhaps the Feds statement about the CPI is very important. And maybe if they pause or some statement that everything is going back to normal as far as the US economies then it might be good for crypto and the rest of traditional market.

But nevertheless I will still be cautious, there are speculations saying that we haven't seen the bottom yet.

So it's better to be prepared than be disappointed, just continue to accumulate and we will be good till the next block halving and bull run.

I don't think "everything is going back to normal" any time soon, I expect more of the same for the foreseeable future.

[ethereumhunter]

I didn't think that the lowest bitcoin price was $16k because the bitcoin price could touch below $16k at any time. The current price is not impossible to fall even deeper, but the question is, have you bought bitcoin at every lower price?

But indeed, the situation in this new year is getting better than last year because we can see a slight increase in the price of bitcoin. But that does not mean we will continue to see the price of bitcoin increase because any increase will surely face a correction for a while. You can still collect more bitcoins because the price has not yet reached $20k and the current price is still worth buying for you and all of us.

[yhiaali3]

It is good to see some green at the beginning of the new year, this makes people feel optimistic, especially Bitcoin lovers, there was a stagnation in the price for a long time without any significant movement, but now some movement has begun, so people felt optimistic.

I hope that this greening will continue, but I expect that it will not last for a long time. When Halving approaches, the demand for bitcoin will increase dramatically, especially from whales. Therefore, I do not think that we will see strong rises in bitcoin before the end of this year.

[bittraffic]

I didn't think that the lowest bitcoin price was $16k because the bitcoin price could touch below $16k at any time. The current price is not impossible to fall even deeper, but the question is, have you bought bitcoin at every lower price?

But indeed, the situation in this new year is getting better than last year because we can see a slight increase in the price of bitcoin. But that does not mean we will continue to see the price of bitcoin increase because any increase will surely face a correction for a while. You can still collect more bitcoins because the price has not yet reached $20k and the current price is still worth buying for you and all of us.

Back in June indicators like RSI signaled market had dipped to its lowest. Apparently, it didn't rise up after a few weeks, and then by November it goes to $15K. It could be the bottom already yet the market is very unpredictable. The FED they said will pivot which was also anticipated to happen, I guess that will be the moment the financial guys are saying.

If it goes below $15K in a few weeks, then we are really going to be seeing Bitcoin bottom on the monthly chart which had not yet happened in the history of BTC.

[Jody.Drummer]

This leads me to the question... so I need to start accumulating more heavily?

If that's the question, then the answer is yes you should collect more bitcoins in your wallet. This is an opportunity that may not come twice. I'm not just suggesting that you collect more, because I've done that myself. If buying in bulk is too much to do, then DCA is the solution to that problem.
There is no mistake that FUD is heard everywhere, but if we have been in this space for a long time, this has become mainstream news and even I personally have ignored it, because I know there are people who want to take advantage of this situation. So rather than hearing news like that, I better be consistent with the strategy I'm using now.

[Outhue]

It's too much of a headache to even think about if the market already bottomed or not, instead of doing this I will keep buying when I have some money since we are still in a bear market anyway, if BTC dips to 10k it is going to another great opportunity to buy.

I have a portfolio I built when BTC was 17,000$ in June 2020 and I have another portfolio I built when 15,000$ per BTC happened, it won't hurt to build another if 10,000$ per BTC happens.

[palle11]

I'm not really bothered about the down speculation of bitcoin for this year because it has survived this speculation from after it went to bull. Looking at the time for halving and the distance now is around a year and that is not too much to bear even if there is price drop. The history of bitcoin has been after bear come bull so nothing different is to happen, soon the bull will arrive so going in now by DCA is still appropriate.

[kro55]

It is very likely that the Fed will stop raising rates, but that does not mean they will cut rates, I think they will keep rates unchanged until the end of 2023 and maybe 2024. National economies are starting to absorb interest rates more than we thought the crisis was over. I think that's why many economists predict we'll enter a recession in 2023, not a post-crisis recovery and growth period.

Whether the economy will get worse or better, don't hesitate to accumulate bitcoin, as this is already a very good price to collect, we are already very close to the bottom if bitcoin falls further this year.