Bitcoin Price, Where Next

[Baofeng]

It has been clear that a lot of funds have to drag the price of Bitcoin to a low against previous months' Bitcoin price,  bitcoin started the year 2023 on a positive note after it recovered from a major market crisis before the FTX and the rest made the entire 2022 a negative price period and also made the price of Bitcoin and another asset to plumb greatly all through to 2023 before the current price of 26k+ which seems to be the lowest base the market liquidity can close on and at the current price.

So what next are we going to witness a low price movement or more recovery that will place us on the verge of a market break out against the next year's Bitcoin halving and anticipated bull run which can come before the halving or after the halving with both having the percentage possibilities.

The last quarter will be interesting though, so short term for me, yeah could boring, but when we enter on what we call the "ber" months, fro September-December, we might see some growth along the way and it could push the price to highs of like $35k-$40k or even higher. And we all know that there will be a lot of FOMO at the end of the year, as we all know that bitcoin halving is 2024. And that's what the mindset of some, it's just like beating the red light and buying at a high price instead of doing DCA and buy at the current price that we have as it is still cheap.

[taufik123]

The last quarter will be interesting though, so short term for me, yeah could boring, but when we enter on what we call the "ber" months, fro September-December, we might see some growth along the way and it could push the price to highs of like $35k-$40k or even higher. And we all know that there will be a lot of FOMO at the end of the year, as we all know that bitcoin halving is 2024. And that's what the mindset of some, it's just like beating the red light and buying at a high price instead of doing DCA and buy at the current price that we have as it is still cheap.

It will always happen, we will see a significant rise as FOMO sets in by many investors who start getting in and don't want to miss the 2024 Halving Hype that will happen.

Though now is the right time to start DCA, May-June had a stronger drop but now it is still in the $26k+ price area.

Let's look at the Bitcoin Monthly Return table again. In the last 2 years, September-December has experienced more declines,
but in July and October, there was a slight increase and maybe this will be a trigger for Bitcoin to reach the $ 30k + price area so that ahead of the Halving the bull run market will be maximized.

[Fundamentals Of]

The most bullish of bull runs are the ones that happen many months, even more than a year, after the halving. That is when the scarcity of new Bitcoin will be fully felt by the market. The supply can't anymore keep up with the demand. So for 2023, I don't expect a huge price change whether up or down. That's unless there is a really big thing to happen that would shake the entire market up. Without that, I think the price will continue to move sideways within the $20,000 and $30,000 level.

[kro55]

It has been clear that a lot of funds have to drag the price of Bitcoin to a low against previous months' Bitcoin price,  bitcoin started the year 2023 on a positive note after it recovered from a major market crisis before the FTX and the rest made the entire 2022 a negative price period and also made the price of Bitcoin and another asset to plumb greatly all through to 2023 before the current price of 26k+ which seems to be the lowest base the market liquidity can close on and at the current price.

So what next are we going to witness a low price movement or more recovery that will place us on the verge of a market break out against the next year's Bitcoin halving and anticipated bull run which can come before the halving or after the halving with both having the percentage possibilities.

The last quarter will be interesting though, so short term for me, yeah could boring, but when we enter on what we call the "ber" months, fro September-December, we might see some growth along the way and it could push the price to highs of like $35k-$40k or even higher. And we all know that there will be a lot of FOMO at the end of the year, as we all know that bitcoin halving is 2024. And that's what the mindset of some, it's just like beating the red light and buying at a high price instead of doing DCA and buy at the current price that we have as it is still cheap.

I know people are looking forward to the halving, and history proves it. But this year, we have some changes, we have never experienced a halving event in a crisis economy and severe inflation like today. So I think apart from the halving factor, we need to look at the macroeconomic factors as they also play a huge role in the development of the market. To me, as long as the world economy doesn't make any progress, it's hard to expect a bull market even after the halving happens.

[Sebas.tian]

I think, the price of Bitcoin will still decrease more than $20,000 before the end of next month to allow  those that missed the opportunity early this year to use the opportunity to buy and hold before the price will increase higher. Based on what is happening in the crypto market from the beginning of this year 2023, showed that there will be massive pumping that will make holders celebrate and dance away with their losses before the end of this year. I don't think, what happened last year 2022 will happen in this current year because there are some signs that is giving investors joy that bullish season is very near.

[mk4]

I think Bitcoin's medium-term trajectory cannot be solely determined by the approval or disapproval of a Bitcoin ETF. While ETF decisions can impact the market, we all know there are other factors that contribute to Bitcoin's price movement and that the market reaction to news and rumors can often be unrecognizable. predictable, and not always a direct cause-and-effect relationship between ETF decisions and price fluctuations.

Bitcoin's short-mid term is mostly due to news like this, while long-term is mostly based on general demand — with all broader things considered.

And obviously I didn't state that the ETF decision is solely what's going to move the market.

[flyingcarpet]

It has been clear that a lot of funds have to drag the price of Bitcoin to a low against previous months' Bitcoin price,  bitcoin started the year 2023 on a positive note after it recovered from a major market crisis before the FTX and the rest made the entire 2022 a negative price period and also made the price of Bitcoin and another asset to plumb greatly all through to 2023 before the current price of 26k+ which seems to be the lowest base the market liquidity can close on and at the current price.

So what next are we going to witness a low price movement or more recovery that will place us on the verge of a market break out against the next year's Bitcoin halving and anticipated bull run which can come before the halving or after the halving with both having the percentage possibilities.

We can have a mini bull before halving. The price starts to rise and then continues horizontally. This is my most optimistic guess as we don't know what the market news will be like. We may also experience a big bull before halving. The common point that we should focus on in all possibilities is this; we need to have bitcoin in our wallet or we will monitor the increase remotely.

[Lucius]

Only partly true — this is different because it's BlackRock — the biggest company to apply for an ETF. People are getting their hopes really high because of this, so this won't be a nothingburger if it gets denied.

As for the process duration, yes. But there will be a good amount of positive and negative rumours I'm sure.

Didn't Fidelity try the same thing a few years ago? If we look at data from the end of 2022, Fidelity has as many as $10 + trillion assets under management, while BlackRock has only $8.59 trillion. I agree that BlackRock has probably the best chance of being the first to launch the ETF spot, although there has been news that Fidelity will also enter the race, with its spot ETF and with the offer to take over Grayscale.

I just want to say that no matter what the decision will eventually be, all those years when the first BTC ETF was awaited and the fact that almost nothing serious happened when the first futures BTC ETF was approved certainly leave a mark on the average investor who does not understand why this time something should be different.

[Lida93]

The year 2023 started on a good foot for bitcoin price which would have continued that way if not for the recession that's currently ravishing the world economy and the situation which has made bitcoin price to plummet creating doubt among bitcoin enthusiasts about the coming bull run  if it could still take place this year.

We are still in the middle of the year with a price of 26k+ I am optimistic about a positive end of 2023 for the price of bitcoin hitting above 40k before we get to 2024 because this recession and all other circumstances wouldn't be here for long.

[mk4]

I just want to say that no matter what the decision will eventually be, all those years when the first BTC ETF was awaited and the fact that almost nothing serious happened when the first futures BTC ETF was approved certainly leave a mark on the average investor who does not understand why this time something should be different.

Because a futures ETF is hugely different from a spot ETF. Not everyone is comfortable with futures/derivatives(obvs because of complexity) and more people are more comfortable with buying spot. And that is both for institutional and retail.

But anyway, time will tell.

[Texac]

It has been clear that a lot of funds have to drag the price of Bitcoin to a low against previous months' Bitcoin price,  bitcoin started the year 2023 on a positive note after it recovered from a major market crisis before the FTX and the rest made the entire 2022 a negative price period and also made the price of Bitcoin and another asset to plumb greatly all through to 2023 before the current price of 26k+ which seems to be the lowest base the market liquidity can close on and at the current price.

So what next are we going to witness a low price movement or more recovery that will place us on the verge of a market break out against the next year's Bitcoin halving and anticipated bull run which can come before the halving or after the halving with both having the percentage possibilities.

We can have a mini bull before halving. The price starts to rise and then continues horizontally. This is my most optimistic guess as we don't know what the market news will be like. We may also experience a big bull before halving. The common point that we should focus on in all possibilities is this; we need to have bitcoin in our wallet or we will monitor the increase remotely.

I think this is the most important thing we should all be concerned with instead of short term price predictions.  bitcoin is unpredictable in the short and medium term, but in the long term, it has never let us down. but we will be disappointed if bitcoin really enters the bull season, but we don't have too many bitcoins in our wallet.  Therefore, I always focus on accumulating bitcoin whenever possible instead of predicting the price or waiting for more to drop to buy.

[Doan9269]

It has been clear that a lot of funds have to drag the price of Bitcoin to a low against previous months' Bitcoin price,  bitcoin started the year 2023 on a positive note after it recovered from a major market crisis before the FTX and the rest made the entire 2022 a negative price period and also made the price of Bitcoin and another asset to plumb greatly all through to 2023 before the current price of 26k+ which seems to be the lowest base the market liquidity can close on and at the current price.

We cannot concluded on the last year experience about FTX exchange going down and other event that happened as the source of what determines the current price or the conditions of what we've experienced althrough the beginning of this year till now, what i see is the normal dip which will always set in prior to the bitcoin 2024 halving to gather enough strength to go against any resistive force on it way to bullrun.

So what next are we going to witness a low price movement or more recovery that will place us on the verge of a market break out against the next year's Bitcoin halving and anticipated bull run which can come before the halving or after the halving with both having the percentage possibilities.

There's more possibility to go more dip with this current market price for bitcoin but it may not last at all because we are going high anytime from this period henceforth, since we are going closer to the halving, am sure before this year runs out, we may be getting closer to $68,000 of the all time high.

[ajiz138]

It will always happen, we will see a significant rise as FOMO sets in by many investors who start getting in and don't want to miss the 2024 Halving Hype that will happen.

Usually they will react at the end of the year because FOMO has always been their way of buying bitcoin because from the end of the year to the halving it will happen in a few months for sure investors will take the time to buy with their funds that have been prepared for the preparation that is approaching, I will not avoid FOMO because they will also feel how important it is to own bitcoin but maybe from now on it won't be done because they are waiting for the price to drop, but when there is a significant movement in bitcoin there will be FOMO.

Though now is the right time to start DCA, May-June had a stronger drop but now it is still in the $26k+ price area.

Let's say from mid-June now to the end of the year I think they still have a chance for DCA at the best price in the market maybe still under $30K but other people always think differently in their view and when the price goes up a bit and there it will be panic buying in the end at a high price with this thing I think it's pretty common for them.

[bitzizzix]

Whatever happens with the negative bitcoin news, I think 2023 is the right momentum to build on it since it's relatively low right now. And it's also good to do a DCA strategy because I don't really care about the negative news that is in bitcoin, because eventually the price of bitcoin will go back up in the long term.
and i think bitcoin price this year relatively down but not more than 20k and highs will be 30K or 33K and 2024 may be a good year for bitcoin.

[dragonvslinux]

I think Bitcoin's medium-term trajectory cannot be solely determined by the approval or disapproval of a Bitcoin ETF. While ETF decisions can impact the market, we all know there are other factors that contribute to Bitcoin's price movement and that the market reaction to news and rumors can often be unrecognizable. predictable, and not always a direct cause-and-effect relationship between ETF decisions and price fluctuations.

Bitcoin's short-mid term is mostly due to news like this, while long-term is mostly based on general demand — with all broader things considered.

This is my general take on the past couple of months at least. Long-term there has been a very orderly correction, short-term there has been recent optimism after some fear in the market. Without the SEC news or the ETF news, price would probably be exactly the same right now, just got there a little sooner potentially, or in a slightly different manner. These news events only end up accelerating the end destination imo.

Likewise there could have been no news what so ever in the past month and price could have performed exactly the same, with bears failing to break $25K previous resistance and therefore almost inevitably price moving back to the upside. I say almost inevitably as price has been in an uptrend for the past 6 months now, so the path of least resistance remains to the upside (unless the trend changes of course).

[imamusma]

Whatever happens with the negative bitcoin news, I think 2023 is the right momentum to build on it since it's relatively low right now. And it's also good to do a DCA strategy because I don't really care about the negative news that is in bitcoin, because eventually the price of bitcoin will go back up in the long term.
and i think bitcoin price this year relatively down but not more than 20k and highs will be 30K or 33K and 2024 may be a good year for bitcoin.

The best bitcoin accumulation phase will be 2022 and 2023, and I agree because the price of bitcoin is relatively lower. But anyway, I'm not too sure the accumulation phase is still good in 2024 especially after the halving. Bitcoin will probably be more expensive than now even though the price is still below the previous ATH.

If you fail to build up your investment portfolio during 2022 and 2023, then I believe you will truly regret it after the halving occurs in 2024. So far there is still a chance, but the ongoing recovery in bitcoin prices may mean you have to wait patiently for a low for the best entry.

[DeathAngel]

Wow bitcoin is pumping, price breached $28,000 which is up over 8% in the last 24 hours. All these rumours about ETF applications, maybe somebody in the know has info & is front running it. Definitely need to keep an eye on this situation.

The next 24 hours are critical.

[Fundamentals Of]

Wow bitcoin is pumping, price breached $28,000 which is up over 8% in the last 24 hours. All these rumours about ETF applications, maybe somebody in the know has info & is front running it. Definitely need to keep an eye on this situation.

The next 24 hours are critical.

For now that's 7% in just 24 hours. Double digit in the past few days. I am as surprised and clueless as you as to why this sudden rise in the price.

But I don't think this has something to do with the celebrated BlackRock's ETF applications. That was filed days ago. Probably not about WisdomTree's application either or even the other applications. These ETF talks have been around for years. This isn't a big deal anymore.

Or are there some insider's information about the fate of these applications that leaked to some investors?

[Lucius]

Wow bitcoin is pumping, price breached $28,000 which is up over 8% in the last 24 hours. All these rumours about ETF applications, maybe somebody in the know has info & is front running it. Definitely need to keep an eye on this situation.

Maybe it's just another in a series of bear traps, and every positive news is always used to push the price to a level where the smart ones who recently filled their bags will dump everything and make a great profit. What was the reason that the price two months ago was over $30k?

The next 24 hours are critical.

Critical for what exactly? I don't see a single logical reason why it would make any sense, no ETF will be approved for months, there is a procedure that must be followed even if the SEC has a positive opinion at this moment (which apparently is not the case).

[Paul Pogba]

This week the price of bitcoin has risen by more than 21% and makes me optimistic that the bull run will happen soon, if before that many were pessimistic that the market would continue to be red then now is the time to continue buying, don't miss a short time because the market will soon be rising, remember that early In 2024 there will be a halving which will make prices skyrocket.