BTC price hitting 30k twice this year.

[uchegod-21]

What are your thoughts on this spontaneous rise again in the price of BTC hitting 30k twice just within the first quarter of 2023. Do you you think it's going to plummet again or do better above 40k? Or is just one of a tempting rise to fall again even below the 25k-26k it did for the past weeks after hitting 30-31k around the month of April?
Please share your thoughts about this.

This time is different, as people like to say
IMO the price was always at 30k, but there's a difference between real value and spot price. Spot price is determined by trades on the biggest exchanges and 2 of them got sued by the SEC, which was a move to drag the price down and allow institutions to buy from you. They also wanted to introduce their own government backed exchange and force Binance out of the US, which worked.

The price is now returning to its former level that was achieved naturally in q1 of this year. The drop was driven by the US government and if you panicked and sold to them, that's your loss.

I think that we will continue to go up, especially when the blackrock ETF gets approved.

What do you mean in the whole post. I don't think I really understand you well. Are you in anyway saying that the exchanges prevent the bitcoin price rise or they in a way influence it with the spot price. This therefore means that if there are no exchanges, the market movers will trade bitcoin directly against ordinary users to give the true value of bitcoin?

[Lucius]

I don't think the big companies will do any damage for bitcoin. It's not in their interest. Although they can undoubtedly drop the price for a while to get a chance to buy cheap coins. But now that they are here, they undoubtedly have a strong interest in bitcoin to make a profit. So in the future the prices will be much higher than they are now.

I wish you were right, but I share the opinion of some other people who think that BTC ETFs are very likely to cause a lot more problems than good. I've already posted that link on the forum several times, so even though it's about posts from 5 years ago, I think that what @theymos wrote definitely makes sense - although it would be interesting to know if he still thinks the same today.

You must know that the interest of big companies is exclusively profit, and that they do not choose ways to achieve the same. But most of these companies just use everything they can and then move on, and I think that Bitcoin is no exception to that.

Agreed, an ETF will almost certainly turn into a disaster at some point. The coins will be stolen, forks will be handled controversially, there will be issues with fungibility (eg. someone will "trace stolen coins" to the ETF's stash), the world will freak out when a bunch of retirees lose their life savings after doing the equivalent of buying BTC at $20k, etc. etc. It'll also get the sort of people who love regulation more into BTC, which is never good.

But investors want it, so it'll probably happen eventually. In particular, I totally condemn trying to get regulators to interfere in the free market more than they already do by blocking any ETF. (When the SEC was last looking into this, I had actually written a long document that I was going to send to them in order to comment on many technical issues with their proposed Bitcoin ETF regulation, but I decided not to send it because I don't want to have even the slightest hand in regulations.)

An ETF probably will increase the price a lot (until the ETF suffers its near-inevitable catastrophe), which has some pros and cons.

Note that an ETF can't affect Bitcoin itself, just the ETF investors and the market. There is no voting of any sort in Bitcoin, so it's not as if holding a lot of BTC gives you any power over Bitcoin, for example. I do agree with Andreas that the creation of a "corpo-Bitcoin" seems probable, perhaps after the ETF loses a ton of BTC and wants to undo it.

[Kemarit]

What are your thoughts on this spontaneous rise again in the price of BTC hitting 30k twice just within the first quarter of 2023. Do you you think it's going to plummet again or do better above 40k? Or is just one of a tempting rise to fall again even below the 25k-26k it did for the past weeks after hitting 30-31k around the month of April?
Please share your thoughts about this.

This time is different, as people like to say
IMO the price was always at 30k, but there's a difference between real value and spot price. Spot price is determined by trades on the biggest exchanges and 2 of them got sued by the SEC, which was a move to drag the price down and allow institutions to buy from you. They also wanted to introduce their own government backed exchange and force Binance out of the US, which worked.

The price is now returning to its former level that was achieved naturally in q1 of this year. The drop was driven by the US government and if you panicked and sold to them, that's your loss.

I think that we will continue to go up, especially when the blackrock ETF gets approved.

What do you mean in the whole post. I don't think I really understand you well. Are you in anyway saying that the exchanges prevent the bitcoin price rise or they in a way influence it with the spot price. This therefore means that if there are no exchanges, the market movers will trade bitcoin directly against ordinary users to give the true value of bitcoin?

I don't think that what he intend to say though, he might be pointing to the US government, against their hard line stance on crypto itself. And instead of pulling the price down with the whole SEC vs exchanges, the price suddenly goes up to $30k.

And we used to have this price already, it's that we just reclaim it again, so good job for the market and all the investors. And if you sell during the negative news on Binance, then it's your loss.

There still another catch here, if we seen BlackRock ETF gets approved, although the chance might be slim, we might see a huge rally again.

[davis196]

The BTC price dropped down to 25K mostly because of the "SEC vs. Binance.us and Coinbase" drama, but it turned out that this drama isn't such a big deal(as expected) and the optimism returned to the Bitcoin market.
The price moving in the 25K-30K range isn't such a big deal to me. A 20% price fluctuation can be considered normal for Bitcoin.
I don't believe that there will be strong support for a price pump above 30K USD. The summer is usually a quiet period for the cryptocurrency markets. There won't be any major bullish news coming soon.

[Kelvinid]

Bitcoin price is on it again after a few drop in price at around 25-26k, but hitting the price value of 30k again as it did sometime April this year. What I describe as a gleams of the prospective light at the end of the tunnel of the year 2023.

What are your thoughts on this spontaneous rise again in the price of BTC hitting 30k twice just within the first quarter of 2023. Do you you think it's going to plummet again or do better above 40k? Or is just one of a tempting rise to fall again even below the 25k-26k it did for the past weeks after hitting 30-31k around the month of April?
Please share your thoughts about this.

Well, I'd never seen yet the strong market position of Bitcoin but still, I was in good faith and believed that this year we are able to see the price of Bitcoin hitting back at $35k. Of course, I don't expect the market will turn bullish, no, but at least seeing its price surpassing $25k is a sign that we are moving forwards and building recoveries slowly. As to the moment that halving comes and done, the Bull run is what we believe to come next. And that is likely to happen next year. So I guess, we need to extend our patience till next year otherwise, it was a fail test.

[LogitechMouse]

Bitcoin price is on it again after a few drop in price at around 25-26k, but hitting the price value of 30k again as it did sometime April this year. What I describe as a gleams of the prospective light at the end of the tunnel of the year 2023.

What are your thoughts on this spontaneous rise again in the price of BTC hitting 30k twice just within the first quarter of 2023. Do you you think it's going to plummet again or do better above 40k? Or is just one of a tempting rise to fall again even below the 25k-26k it did for the past weeks after hitting 30-31k around the month of April?
Please share your thoughts about this.

This pump is legit compared to the previous pump last april because this is the result of positivity on crypto market due to the ETF run started by the Blackrock. SEC is now overwhelmed by ETF application since everyone is confident that Blackrock can get the long awaiting approval from SEC on spot ETF.

This pump is organic and will continue to probably ATH until next year if the trend will not gonna stop until the Bitcoin Halving. Blackrock is monster on their filings so I’m positive that they got this and also US huge company is now teaming up to have their own massive crypto exchange that will bring crypto more closer to US residents since this company will be working closely to SEC.

Well, a very optimistic prediction of yours. With or without that ETF that's being filed by Blackrock, Bitcoin is expected to surpass it's previous ATH maybe next year or 2 years from now.

Anyway, it seems like the ETF filing of Blackrock really pushed the price of Bitcoin to around $30,000 currently. TBH, I don't know the impact of having a Bitcoin ETF towards the crypto market because we haven't seen any ETF filed that has become successful in the past years, so I'd be excited to see what will be the after effects of this ETF "IF" it will not get rejected, but at the same time, cautious as well. I might hold some Bitcoins for short to mid term because most see this ETF filing as a positive news thus, price of Bitcoin is increasing.

It seems like the $30,000 is now the support.

[Wong Gendheng]

A good thing because prices can return to $ 30k after more than 2 months continue to drop, even many are predicted if the price returns below $ 20k and is almost true because the price has touched $ 24k, this proves that the Bitcoin community is still solid and can Make a surprise until the end of the year.

[AakZaki]

Going down to the $26k price area may still happen if there is further FUD attacking Bitcoin. the achievement of the current bitcoin price being able to stay above $30k is good enough. The market looks supportive and many investors are starting to enter. But it does not rule out the possibility that a correction will occur. it is quite normal if there is a correction in the next few days. or when the market drops weekly.
To reach a higher price, it certainly needs some corrections, so that the current position will be even stronger.

[Ultegra134]

Bitcoin price is on it again after a few drop in price at around 25-26k, but hitting the price value of 30k again as it did sometime April this year. What I describe as a gleams of the prospective light at the end of the tunnel of the year 2023.

What are your thoughts on this spontaneous rise again in the price of BTC hitting 30k twice just within the first quarter of 2023. Do you you think it's going to plummet again or do better above 40k? Or is just one of a tempting rise to fall again even below the 25k-26k it did for the past weeks after hitting 30-31k around the month of April?
Please share your thoughts about this.

End of the year price prediction? yeah, why not go for $40k-$50k? remember that we still have the second half of the year to boot, so we might as well see the price going up.

And there are a lot of speculators here and those who put their technical analysis here in our community and pointing to the fact that we might have seen the bottom already and prior to the expected bull run next year, the price could be around that range. For me, we have seen the lowest low for this bear market, and I don't think that we can go below $20k. We have seen the support along $25k and it is strong and it will hold.

We have approximately 5 months until the end of the year, so I'd say that anything is possible. However, I'd say that it's still quite early to see such a major recovery due to the ongoing economic uncertainty, and the latest incidents with the SEC didn't help at all. In my opinion, I don't anticipate Bitcoin surpassing $40,000 to $42,000 within 2023, and to be honest, I'd be satisfied after all that we've been through the past few months. I'm almost certain, though, that the bottom has been reached, unless something unexpected happens, such as a large exchange closing. Perhaps some time before or after the halving, we'll see a major recovery, possibly near mid-2024.

[buwaytress]

Still find it hard to understand that ETFs still stir up quite a bit of corporate fomo. I won't claim to have the same opinions as the few back in 2017/18 -- but have always held that all the speculation about "institutional interest" being a major driving force behind a sustained bull for Bitcoin is already disproven.

Don't even remember the names anymore but each time something big has finally coughed up, the reaction has been a whimper. Big money, old money, these didn't wait around for ETFs.

And yes, the bigger picture? None of this affects Bitcoin beyond the (temporary) reflection on its (trading) market and derivatives of.

[bitzizzix]

The bitcoin price is currently at 31k and needed to break the 31k resistance level but now that bitcoin has managed to reach that price, I think the bitcoin price will continue to 33k in the near future.
bitcoin is expected to continue its bullish trend in July and it is possible that the price will be higher than in August and we can be sure that in August the bitcoin price will decrease slightly, maybe it will return to the price of 26k-25k or again.
and this is just my opinion and eventually the price of bitcoin will rise again, and some positive news related to bitcoin could be one of the main sentiments in preparation for next year's bitcoin halving.

[indah rezqi]

>snip

Well, I'd never seen yet the strong market position of Bitcoin but still, I was in good faith and believed that this year we are able to see the price of Bitcoin hitting back at $35k. Of course, I don't expect the market will turn bullish, no, but at least seeing its price surpassing $25k is a sign that we are moving forwards and building recoveries slowly. As to the moment that halving comes and done, the Bull run is what we believe to come next. And that is likely to happen next year. So I guess, we need to extend our patience till next year otherwise, it was a fail test.

I'm not sure what to say about the current state of the market, I mean the price is recovering slowly after a few months of correction. Currently bitcoin price has broken the $31k resistance and will probably test another resistance level around $35k, but I hope this recovery doesn't stop before $35k is broken.

I think the market has recovered after a dismal year in 2022, but of course it's not very bullish even though we are already above 100% of last year's low. Currently, we are still in the -54% range of ATH bitcoin, so I hope the price recovery this time can continue and even break through the $40k resistance, hopefully.

[coolcoinz]

The bitcoin price is currently at 31k and needed to break the 31k resistance level but now that bitcoin has managed to reach that price, I think the bitcoin price will continue to 33k in the near future.
bitcoin is expected to continue its bullish trend in July and it is possible that the price will be higher than in August and we can be sure that in August the bitcoin price will decrease slightly, maybe it will return to the price of 26k-25k or again.
and this is just my opinion and eventually the price of bitcoin will rise again, and some positive news related to bitcoin could be one of the main sentiments in preparation for next year's bitcoin halving.

Resistances tend to move. They are just levels that we failed to break the last time, but it could have been due to the fact that there was a large seller setting up a wall of coins at that level and we kept bouncing off, but that seller doesn't have to be there now, a few weeks later. Don't forget that the SEC attacked Binance and many people took money out of exchanges, so there was much less liquidity on the market compared to a April when prices were pumping for the first time.

Wait for us to break 32k because above that there's no known resistance level up to 40k, so if we can stay above 32k, we'll poke the low 40s for sure.
I think it's inevitable this year that we do it.

[Jegileman]

The recent movement in the bitcoin price is a good sign for the market and also a good sign of the bitcoin price hitting the $40-$50K price before the end of the year or at the end of the year. After the price hit $30K in the month of April, many expectations was that it’ll go below $30K for some correction before it goes uptrend again but it didn’t. This current uptrend was as a result of happenings in the market (Blackrock, ETF etc), this is a good sign and I don’t expect the price to go below that range any time from now again.

[darkangel11]

I don't think that what he intend to say though, he might be pointing to the US government, against their hard line stance on crypto itself. And instead of pulling the price down with the whole SEC vs exchanges, the price suddenly goes up to $30k.

And we used to have this price already, it's that we just reclaim it again, so good job for the market and all the investors. And if you sell during the negative news on Binance, then it's your loss.

There still another catch here, if we seen BlackRock ETF gets approved, although the chance might be slim, we might see a huge rally again.

You're correct. What I meant is that spot price depends on a few big exchanges and the data they propagate. Binance and Coinbase were under pressure from regulators who wanted to freeze Binance's assets. This was done to scare people into selling or withdrawing their coins and allowing institutions to do their last buys before announcing their plans for ETFs and custodial services. It's one large scam.

The real value of bitcoin at that time was different than what exchange data was telling us. Bitcoin was still worth 30k, it just wasn't trading at 30 because exchanges were being suppressed.

[skarais]

Going down to the $26k price area may still happen if there is further FUD attacking Bitcoin.

I didn't hope for it, but based on the pattern that occurred in previous years, there is a possibility of another correction going forward.

the achievement of the current bitcoin price being able to stay above $30k is good enough. The market looks supportive and many investors are starting to enter. But it does not rule out the possibility that a correction will occur. it is quite normal if there is a correction in the next few days. or when the market drops weekly.
To reach a higher price, it certainly needs some corrections, so that the current position will be even stronger.

I also wouldn't completely discount the possibility of another correction below $28k in the following months, but this incoming investor support is expected to keep the price above $30k longer than we expect. It's always possible for Bitcoin to gain FUD allowing the price to correct again, but I don't expect that to happen verry soon.

[goaldigger]

This is an indication that many believes we should be on a bull market and if this time Bitcoin able to break the resistance, we might see its price to actually reach the price of $40k. Let’s wait patiently and watch the market closely as this can still be a bull trap because the volume is not that much to support the pump. Though if you look at a weekly time frame, you can still a bullish trend with Bitcoin and its a good sign too.

[suzanne5223]

It is hard to tell if the price of the Bitcoin market will plummet again but I expect it to reach $40K and after we may see another market correction since the reason behind the surge in price happened after the U.S banking crisis, the Federal Reserve changed its stance recently on interest rates in an effort to prevent a a recession or increase public confidence in decentralized finance. As a result, the cryptocurrency market benefited greatly from this, and this also lead to giant multinational company filing for BTC ETF.

[BITCOIN4X]

This is an indication that many believes we should be on a bull market and if this time Bitcoin able to break the resistance, we might see its price to actually reach the price of $40k. Let’s wait patiently and watch the market closely as this can still be a bull trap because the volume is not that much to support the pump. Though if you look at a weekly time frame, you can still a bullish trend with Bitcoin and its a good sign too.

I'm glad there is a lot of optimism about the market right now, but bitcoin's volatility will allow you not to find it breaking through $40k in the next few months. I'm not sure $40k can be broken next month, but most likely only if support from investors gets stronger.

I'm a bit surprised by bitcoin's success finding $31k again after it was last reached in April, but it's always possible anyway when demand increases. Price movements occur so fast, but we also need to consider the possibility of a correction.

[Baofeng]

This is an indication that many believes we should be on a bull market and if this time Bitcoin able to break the resistance, we might see its price to actually reach the price of $40k. Let’s wait patiently and watch the market closely as this can still be a bull trap because the volume is not that much to support the pump. Though if you look at a weekly time frame, you can still a bullish trend with Bitcoin and its a good sign too.

We did break the resistance of $30k, for a short time, the price reaches $31k, but then again, maybe there are sellers or orders along that price, so it was liquidated very fast, and so it didn't last long. Nevertheless, $30,500 right now, still very high and we should be expected that this price might hold at least at the end of the month. And if that happens, then we are going to be green again. Historically, the month of June is not good in a bear market, but it seems we will change that pattern for this year as we have seen a jump from $26k-$30k++.