Bitcoin - how low will we go in 2023?

[JamesDaniel90]

I bought the other day and we have seen yet another crash since then it feels like there is so much bad news and FUD at the moment.

I feel like having a break as I am starting to feel we could go close to the lows of last year, not sure if we will go that low but could go close so thinking of waiting until we see at least another 10% drop to buy more.

How is everyone else feeling?

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[Supianto]

Hard to say how low it will go. I knew that we were not gonna see big numbers this year, so I don't care. I'm just gonna keep buying it while it's below $30k. If you're feeling bad just don't watch crypto knew and don't watch your portfolio every day, relax and do some other things.

[JamesDaniel90]

Hard to say how low it will go. I knew that we were not gonna see big numbers this year, so I don't care. I'm just gonna keep buying it while it's below $30k. If you're feeling bad just don't watch crypto knew and don't watch your portfolio every day, relax and do some other things.

Yeah I have been in crypto 18 months now and it has just been a long 18 months and for the first time feel it testing my patience.

I will hold though will not be selling anything and just keep reminding myself 2024/2025 will hopefully be better times for us all.

[passwordnow]

I bought the other day and we have seen yet another crash since then it feels like there is so much bad news and FUD at the moment.

I feel like having a break as I am starting to feel we could go close to the lows of last year, not sure if we will go that low but could go close so thinking of waiting until we see at least another 10% drop to buy more.

How is everyone else feeling?

Still fine, got used to this, and won't let me panic. I'm long, no matter what the market will show for these drops, I am firm to myself that I'll hold no matter what happens.
If you're feeling that you need a break, you really need that so that mentally you'll be prepared for what's gonna happen soon. You may not take it for now if you're still new to the market.
So taking a break will help you and will make you decide and think better afterwards while looking at the plummet of the market.

[Zaguru12]

There is almost a similar thread created by indah rezqi on speculation board, you look up there to get some tips.

Yeah I have been in crypto 18 months now and it has just been a long 18 months and for the first time feel it testing my patience.

I will hold though will not be selling anything and just keep reminding myself 2024/2025 will hopefully be better times for us all.

Overall since the past 18 months that you have been in this space cryptocurrency has been low in price Infact January 2022 had a closing price of around $38,500 and towards the ending of the last year it fell to around $15k. This could be associated to the fact that throughout last year they were just different economic crises that tested the bitcoin market, the inflation which resulted in increase in interest rate and also bankruptcy of some banks like Silvergate could be one. Another reason that strongly affects the market again is the fact that exchanges mostly centralized ones have been in the mix of either crashing, been hacked or sued like FTX and the current Binance fiasco. This actually has made some investors to take off their holdings into other assets.

Another thing could be the much anticipated bitcoin halving period happening next year and according to past trends the market suffers lows like this before the period. So judging by the past trends I would say hold on to your holdings and if possible accumulate more if you have the funds. Do not wait till it get lower than this, you can utilize the DCA method to minimize the loss risk

[laurenB7742]

Hard to say how low it will go. I knew that we were not gonna see big numbers this year, so I don't care. I'm just gonna keep buying it while it's below $30k. If you're feeling bad just don't watch crypto knew and don't watch your portfolio every day, relax and do some other things.

Yeah I have been in crypto 18 months now and it has just been a long 18 months and for the first time feel it testing my patience.

I will hold though will not be selling anything and just keep reminding myself 2024/2025 will hopefully be better times for us all.

If you have decided not to sell anything until 2025, you don't need to worry about how much more bitcoin will drop, and moreover, no one will give you the exact answer to what you are wondering. Instead, you should be happier if the market continues to fall into 2023 because we will have more opportunities to buy bitcoin at a better discount than many others. I myself am expecting bitcoin to continue to fall below $20k this year, and I would really celebrate if that happens instead of being scared like many others.

[franky1]

alot of people buy and think that THEIR buy is the low and anything below that is a disaster and a "CRASH"

its not, its jsut normal market activity. no one can truly always buy the bottom and win.. everyone is speculating to some extent on the % of premium above bottom they are willing to pay, to invest in future bottoms rises to profit from when the prices move up long term

the way you have to look at things is to understand that the market rate is speculative and moves. however there are periodic well tested bottoms.. which are supported below the market rate, by things like the ultimate most efficient mining cost on the planet.. (cheapest acquisition of btc on the planet no one wants to sell below)

when you can calculate the lowest acquisition cost available on the planet currently (cheapest mining on the planet) by averaging out a periodic cost. then you can find that support bottom a market may CORRECT and test down to..

when it comes to then buying. you are no longer under the flawed premiss of thinking what u buy is the bottom to then be shocked/dis-heartened that its not.. but instead realising that you are buying on the market for a x% of premium above bottom. where you would decide how desirable you want the coin at that point. and knowing by how much above bottom it is you can speculate how long you may have to wait for the new bottoms of future periods need to raise to become above your buy-in price for you to make ROI/profit from

realising when the markets go below your buy-in, is the market correcting from premium down to value. and testing new bottoms.. rather than seeing it as "crash"

$15k was the 'bottom' test of 2022
all mining even the most efficient on planet is above $20k in 2023 so that could be the new test bottom. however as months move on it could even be $23k if a certain amount of financial quarterly periods sustain the market above a certain amount and the hashrate remains up too..
but one thing is for sure.. unless hashrates drop 60% or something big breaks that makes bitcoins utility un-utilisable we are not going to see another $10k, $15k bottom again

[hugeblack]

This behavior will lead you to lose your money, and I advise you not to follow it, which is to be very optimistic when you hear good news and pessimistic about any negative news. Emotional interaction like this with price changes will lead you to lose your money, because you will not sell if the price goes up and you will not buy if it goes down. You will always repeat:

thinking of waiting until we see at least another 10% drop to buy more.

You will still look at the 10% and when it happens you say why not wait for the price to drop by 15% like this until you find that you have missed the opportunity.

[TheUltraElite]

I say let it drop, let the FUD go on and allow it to reach a rock bottom. Then we will attack with our fiat stash and buy enough to overfill our bags and continue buying as the price keeps dropping. There are few opportunities which one cannot miss, falling bitcoin prices is one such. Don't be of the opinion that the price drops mean a poor asset. The drop will stop at one point and rise will happen, this can be seen from past charts.

In trading being optimistic about the asset is a major important thing and for Bitcoin this carries an immense role. Buy when you can otherwise you will lament the loss.

[Dunamisx]

I bought the other day and we have seen yet another crash since then it feels like there is so much bad news and FUD at the moment.

Why are people spreading the news on fear of missing out in bitcoin when they are not investing on other cryptocurrencies or seing the bitcoin price going down to nothing, instead the value has always been making resistance to low or rise and this period only calls for high volatility because the resistance on either of the way is about to break and there's more to that of going bull and running dip, the Binance news and challenges are nothing to cause fear neither is the economy market of fiat currency responsible for these.

I feel like having a break as I am starting to feel we could go close to the lows of last year

There's nothing to fear about even if this is where we are heading to as ling as we are not going too low to less than $10 remember the closer we go the more we are approaching the bitcoin bullrun which is occasioned by the bitcoin halving next year.

[jeraldskie11]

In reality, no one can foresee the market's price over a given time period. However, if you know how to evaluate the market, you will be able to predict where the price may go. If you know how to recognize market structure, you can simply establish what the current trend is and whether it is bearish or bullish. According to my analysis, the market is still bullish as long as the price did not falls below $19,000, because I will consider it bearish if the candle in the weekly timeframe closes below that level. What we are seeing in the price is, in my opinion, merely a retracement before the price continues to rise and create new highs.

[kryptqnick]

The price is currently around $25k. It's not ideal, yes, but it's not terrible either. It's possible that we'll have another bear year and see improvements somewhere in 2024. In that case, Bitcoin can easily drop to $20k, perhaps even $15k. I don't think the latter is likely, but it's not impossible at all. When investing in Bitcoin, one should take volatility into account and be ready for lengthy bear markets. If one is too anxious seeing an investment down 5-10%, I'm not sure Bitcoin is a good choice, as it will bring a lot of anxiety to such people.

[Porfirii]

I hope OP invested after truly realising that he could lose all his money. This is the only way to enter the path of the hodler and be able to walk the full tour: I remember how price dipped back in 2020 (below 4K USD) and how next year reached a new ATH of almost 70K. For such a volatile market you still need nerves of steel even if you don't need the money, and that goes without saying if you need it.

About your question, I still don't know the reason why the price keeps dipping right now: news about the SEC and Binance last couple of weeks seem to be the trigger, but i'm not quite up to date with the current narrative.

[salad daging]

I bought the other day and we have seen yet another crash since then it feels like there is so much bad news and FUD at the moment.

Bitcoin's fall is bound to be due to this FUD news not even being able to escape because between the tensions between the SEC and Binance the market crashed overnight and a few days ago it did the same thing, so FUD news is definitely affecting the crypto market.

I feel like having a break as I am starting to feel we could go close to the lows of last year, not sure if we will go that low but could go close so thinking of waiting until we see at least another 10% drop to buy more.

You are free to start any analysis regarding the price of bitcoin whether it will continue to approach a decline because this is indeed a market that continues to be caused by negative news so I think a crash might happen at any time this year, some even said they would try to buy from that $20K price will definitely go there again, but I don't know for that prediction.

How is everyone else feeling?

Not knowing other people's feelings maybe they also panicked, I tried to withstand all the market shocks.

[Eternad]

I bought the other day and we have seen yet another crash since then it feels like there is so much bad news and FUD at the moment.

I feel like having a break as I am starting to feel we could go close to the lows of last year, not sure if we will go that low but could go close so thinking of waiting until we see at least another 10% drop to buy more.

How is everyone else feeling?

Yesterday crash is just the lowest price point when the first crash happened. It's called retesting of the support. Learn how to use DCA to have a better price entry in an uncertain market. I think it will be on a sideways again since the issue on SEC and inflation are still ongoing.

There's still no sign of positive market so don't expect that it will recover overnight after you invest. Keep buying and hold until the bullrun because this is a perfect opportunity to buy more in preparation for the next year halving. Don’t miss out this opportunity.

[tranthidung]

I bought the other day and we have seen yet another crash since then it feels like there is so much bad news and FUD at the moment.

Not all bad news are fud, be careful. Black swan events are not fud.

I feel like having a break as I am starting to feel we could go close to the lows of last year, not sure if we will go that low but could go close so thinking of waiting until we see at least another 10% drop to buy more.

Don't time the market and don't find absolute bottom of market within a year or a cycle. You will never time the market 100% correctly.

If you are a trader, you must use Stop loss or Stop limit order to save your capital.
If you are an investor, you must apply Dollar Cost Averaging.

The common for being a trader and an investor, is protecting your capital. If you lose your capital, you lose everything and with empty hands, empty wallet, you will no longer be able to trade or invest.

[JamesDaniel90]

I am just feeling my patience being tested today that's all - I have not sold anything at a loss and wont.

Hopefully we only have a few more months of this bear market and things will start to look up.

I started my crypto journey at the worst possible time one week after the Bitcoin all time high so it has just been a long 18 months of buying and holding I am just hoping it pays off next year and 2025.

[Ultegra134]

The price is currently around $25k. It's not ideal, yes, but it's not terrible either. It's possible that we'll have another bear year and see improvements somewhere in 2024. In that case, Bitcoin can easily drop to $20k, perhaps even $15k. I don't think the latter is likely, but it's not impossible at all. When investing in Bitcoin, one should take volatility into account and be ready for lengthy bear markets. If one is too anxious seeing an investment down 5-10%, I'm not sure Bitcoin is a good choice, as it will bring a lot of anxiety to such people.

It's not that bad either, judging by how the situation with the SEC has progressed. Bitcoin is the only coin that has shown minimal volatility and retained its value, which is quite logical if you ask me since the SEC is mostly after altcoins. Personally, I'm greatly satisfied with the current price, and if the lawsuit against Binance doesn't take a turn for the worse, it's very unlikely to see a new bottom. As for the OP, it's perfectly normal and expected to experience a lower price after conducting a purchase; it has happened to everyone, including myself. It's not something you can easily predict or expect, so you shouldn't have any regrets.

[Scotland]

Of course, late or early bitcoin will be an inevitable means of payment as it is now,

keep accumulating crypto

Don't panic sell and sell, the biggest mistake

[darkangel11]

alot of people buy and think that THEIR buy is the low and anything below that is a disaster and a "CRASH"

Exactly this. It all depends on the way you look at the charts and the price you buy.
For someone looking at a 1m chart, a 1% move looks like a crash. Another person looking at 1d chart is going to see a red dot that can turn green by the end of the day.
I saw only 3 significant moves in the last 12 months.
1 was the large dump in June that would've been a capitulation if not for the FTX.
2 FTX bankruptcy in November
3 The return to the 200 WMA in March.

When one person sees all doom and gloom, another person sees an opportunity. You crash your car, you feel bad about it, but it's money for the towing company, the mechanics, the parts store owner, the car manufacturer... A lot of people make money on your mistakes every day! Don't think that if you sell in fear there won't be someone who benefits from it.