Bitcoin - how low will we go in 2023?

[Woodie]

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.

Am guessing the bad news you are referring to here has to do with SEC suing Binance and Coinbase, but if you ask me this was inevitable! When it comes to the US markets their is some much regulation going on here and very few of our excahanges can survive especially that crypto users love their freedom which exchanges can not guarantee in such an environment.

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?

But if you look at market price, Bitcoin has performed well despite all this..would have been worse and for this I don't see price going any lower. For now price will keep ranging/ consolidating until it generates enough liquidity it can use as fuel to make new highs.

We are still on the right path, better days are yet to come.

[hZti]

I think we can see 20k or even sub 20k for some short period of time, but that is pure speculation.

keep accumulating crypto

Don't panic sell and sell, the biggest mistake

This is the best advice here, since if you constantly buy then you will have a very good average entry price for your crypto. You can never time the market correctly, that is also not how large investors invest and is basically not how any investor should do it.

[Rabata]

In recent times, the SEC case against Binance is going to have a big impact on the crypto market. But investors are always advised to prepare a long time investment plan. At any time the market can move from positive trend to negative. This happens often in cryptocurrency market. Since Binance is one of the largest exchanges in the world, there will be some temporary effects. Currently the market is slightly above $25k but it is likely to go down further. At this point one should just research for the purchase without panicking. Because Bitcoin may show a big bullish trend in 2024. But investors have to be patient till that moment.

[buwaytress]

"at the moment"? Where've you been the last 12 months or so? Ha, it's been FUD for at least a year now and on a downhill slide since SBF's fall.

Still, I like how the FTX drama feels very recent, and that halving feels not too far away -- meaning we won't have much time to enjoy this DCA period before the FUD dries up and then the fomo lays it on thick.

In 2023, what I find hard to believe is people are still worried at $25k BTC, and waiting for a "10% dip".

[Adbitco]

Actually this is really a though time for the market anyone investing should get some break before going further to invest, there are lot of trouble around the crypto space. This is not only Binance but I think Coinbase is also facing same issues as binance so, there's so much trouble affecting the market due to SEC watching understand Binance.us and Coinbase exchange.

Best is the hold on a bit just as you said possible -5 percent or and above you may buy back to hold, but as a smart investor all these bad news will also raise another crypto millionaire by 2024 during or after bitcoin halving. You may read more about the turbulence over here.

[safar1980]

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?

Better think about how much the price of bitcoin can rise after the halving. Bitcoin mining cost after halving should be in the range of $20,000-$30,000.

The cost of mining bitcoin from large miners
https://bitcointalk.org/index.php?topic=5455754.msg62374983#msg62374983
It is difficult to buy bitcoin when its price drops, but the $18-20k zone will probably be the last one in this decline.

[CODE200]

If I'm being honest right now, I'm wishing for bitcoin to go lower right now because I am nearing my payday and I want my next top up to be worth my money, have been accumulating bitcoin slowly through DCA and I would probably blow half of my paycheck if the price would go much much lower than usual, fuck the vacation plans, the restaurants I want to check out and the stuff that I plan to buy, they can wait or maybe even get an upgrade for the stuff I plan to spend on if the bitcoin I've accumulated grants me glorious profit. The race is towards the halving, accumulate as much as you can before the halving because we know that bitcoin's going to break the highest price and you don't want to be empty-handed when that happens.

[Lucius]

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.

Congratulations on your first 1.5 years in the world of cryptocurrencies, and I hope next years will be at least a little less stressful for you. Since I know your story well, I hope you're a little less exposed to altcoins, and a little more in BTC and maybe some other alternatives.

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

From your perspective, the year may look bad, but just remember the last few months of last year, and compare it to this year and you will see that the price of BTC has significantly recovered, and that means that all those who invested in it do not have too much to worry about. If you're into altcoins then it's definitely a different story given what's going on right now, but that was a risk you had to take from the beginning.

The question of how low the price will go this year is something that is difficult to answer, but obviously a lot depends on what happens in the US in the coming months. However, even if nothing were happening I wouldn't be surprised that the price is going down, because the moment we are in is still very unfavorable for any pumps that are speculated about.

[serveria.com]

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?

I guess we are at the yearly low already or pretty close to it. I don't think we will fall any lower. In fact, I'm surprised we are here, I was hoping for some $30-35k arena at this point. Last cycle, 2019 was sideways with very few fluctuations and in 2020 the growth resumed. I guess it should be similar this time too.

[Inwestour]

In recent times, the SEC case against Binance is going to have a big impact on the crypto market. But investors are always advised to prepare a long time investment plan. At any time the market can move from positive trend to negative. This happens often in cryptocurrency market. Since Binance is one of the largest exchanges in the world, there will be some temporary effects. Currently the market is slightly above $25k but it is likely to go down further. At this point one should just research for the purchase without panicking. Because Bitcoin may show a big bullish trend in 2024. But investors have to be patient till that moment.

Binance has been under pressure for a long time, and the downward movement of bitcoin is due to a combination of factors, in particular, the fall began after yesterday's Fed meeting when it became clear that the interest rate would remain unchanged. I didn’t think that such a reaction of bitcoin would follow, but I repeat, I think that this combination of many factors influenced bitcoin, and perhaps for some time the price will fall, but at the moment I don’t expect a drop below 20k.

[Dr.Bitcoin_Strange]

How is everyone else feeling?

I feel that a golden opportunity is coming where I can buy at a lower price, but at the same time, I know that what seems to be a golden opportunity is not guaranteed because the market, being so dynamic, could just take a turn overnight and before you know it, it's trading above $30k or $40k. So, since I am not certain and the price analysis is not even 100% guaranteed, I just have to be DCAing when I have some USD to invest. Even if I am expecting the golden opportunity to buy lower, I can keep DCAing until the opportunity has fully presented itself; otherwise, I might wait in vain to buy at the very dip, but it will not come. Someone wanted to buy Bitcoin at $12k last year, but I told him that Bitcoin could not drop that low. He didn't believe me since I am not an expert, but he ended up buying it at $20k.

[someone703]

You need to develop a strong long-term mindset and commit to holding your investments despite market fluctuations. Having a flexible approach can be valuable in navigating the ups and downs of the cryptocurrency market. Also, taking a break from actively watching the market can really provide a mental respite and help you gain perspective. Because the cryptocurrency market can be volatile anyway, it is unpredictable what will happen next. Taking a step back gives you time to reflect, so you can make more informed decisions based on your long-term investment strategy and goals.

[FiveG]

At this point nobody knows actually what to said, the truth is that the lows keep going down breaking the old years records because even natural policy do not act in favour of bitcoin this year, so I suggests you keep taking advantage of falling price or stay off for sometimes.

[Mate2237]

The crash or the dip is affecting everyone and also in the time people are benefiting from it. For the bitcoin market all sides are beneficiary to smomeone. People buy and sell at all period. Traders are very much happy in the bull time while those who buy and store ir, that the holders are happy when the price is in the bear market.

Op since you bought it when the market was crashing and since you are keeping it for future bull time then you don't have to e disturbed because time is co.ing that everything will be okay.

[serjent05]

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?

I am feeling normal. This kind of market movement is just a normal trend of Bitcoin.  Exchanges getting sued or shut down is also a normal thing in crypto industry.  US SEC charging important institution for crypto market is also a normal event in crypto Industry.  I would say not to wait for another 10% drop, just DCA since more fund spending buying @ a lower price can always be turned into a profit especially since Bitcoin is way past on the half-point of its cycle and is nearing to get bullish as the halving is getting closer.

[MinoRaiola]

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?

The price has fallen in the last few days and it did not look good, but currently it is going up again and I think there is a reason for that. The world biggest Assetmanager will submit an application for a BTC-ETF. I mean BlackRock. And I know BlackRock holds a big stake in MircoStrategy. There are other sources, but i currently only have a german version. And if you want to keep bitcoin for a long time, then 10% drop is not a big deal, if Bitcoin makes a x5-10 in the future.

Gerüchte um Blackrock Bitcoin ETF: Wie stehen die Chancen?
German Source: https://www.btc-echo.de/news/geruechte-um-blackrock-bitcoin-etf-wie-stehen-die-chancen-166170/

[Volgastallion]

The more FUD then more publicy we have then more FUD and this its gonna be endless until we take the rocket again.


Another thing i really think its, meanwhile the usd dollar and the traditional markets are unstable they are gonna spread a lot of FUD in new markets like crypto and etc, because they dont want to see that money go out from the traditional systeam against the new one. When all comes to a more quiet water we can see a decrease in the FUD in general.

[blockman]

How is everyone else feeling?

Just fine as I see that there's a quick recovery for Bitcoin.

The more FUD then more publicy we have then more FUD and this its gonna be endless until we take the rocket again.

This is the reality in this market, there will be unstoppable FUD that shall come from unexpected times. And you just can't be confident that nothing is gonna happen when everything is calm. You'll see news media outlets spreading FUD from individuals that have names in different markets just to manipulate the market.

[Wiwo]

The best practice is to take a break whenever you feel and convinced that the price of Bitcoin will go more deeper,  no one knows how far this current correction will go but at the same time, long-term holders will have the upper hand at the end of the day,  so instead of selling at the low price it better to keep holding while limiting your buy in order in other to prevent further losses if the market continues in the declining condition.

So there is no need to panic,  rather it is time to hold back and watch for the next possible action that the market is going to take.

[nlevenov]

I am definitely expecting a crash in July and August. It is hard to say how much the price will drop but if I know one thing for sure is the bull market still has some time to begin.