Will BTC go above $30,000?

[wilkine]

Europe has unveiled the inaugural Bitcoin Spot ETF, marked by the launch of $BCOIN, a symbol that signals a noteworthy step forward in Bitcoin's embrace.

Anticipate significant market movements in the upcoming week due to the initiation of BTC price volatility.

A new era seems to be dawning. Following Ripple's legal success against the U.S. SEC, a Bitcoin spot ETF is now introduced by Jacobi Asset Management, a London firm authorized by the Guernsey Financial Services Commission. After securing approval and two years of preparation, the ETF is listed on Euronext Amsterdam as $BCOIN. Fidelity Digital Assets will safeguard the fund, and Flow Traders assumes the role of market maker.

BTC prices have been range-bound with notably subdued volatility for the past seven months. The current compressed state of the price requires a stable foundation for a potential upward surge to $30,000. The introduction of a Bitcoin spot ETF might be the catalyst propelling prices toward this threshold.

The question lingers: How long can the bullish momentum be sustained?

According to Analyst Crypto Tony, BTC prices are forecasted to hover within the $29,400 to $29,500 range for the week ahead. However, a bullish uptick is foreseen on August 20, 2023, with the possibility of breaching the $30,000 mark. Recent months have demanded substantial bullish forces to overcome these thresholds, hinting at an impending resurgence in Bitcoin's volatility.

Presently, Bitcoin's price displays minimal fluctuations, maintaining a nearly constant level. While external influencers such as CPI rates, FOMC decisions, and the DXY index have failed to incite the desired fluctuations, the BTC spot ETF could potentially infuse positive influence. Yet, market participants grapple with uncertainty regarding forthcoming price actions and the strengthening bear sentiment. Consequently, the market remains ensnared within a narrow consolidation range.

[buwaytress]

Why 20th August and not immediately though? Still waiting for this spot ETF to prove me wrong about all ETFs (I'd be really pleased to be wrong), been some weeks of discussion on this forum about it. I'm surprised how optimist the mood is, though I concede this seems a different beast (UK, not Guernsey, would have swung my mind into the positive camp).

I don't see this news in any of the local papers here, economics section still pretty much focused on euro outlook.

[yudi09]

Re: Will BTC go above $30,000?

More than $30,000 will be achieved and has been achieved by bitcoin. List of bitcoin prices this year from January to August at the time of this writing, you can check on several available platforms that bitcoin has reached more than the price you mentioned. At least the price above $30k has been reached several times even though it is only at $31k.

OP. Various events that occur throughout the country can be positive and negative triggers for the price of bitcoin.
The best anticipation is to have strong power to hold bitcoins without any feelings of concern even when the market price continues to move downwards.

[rachael9385]

With the provided link and the picture you can tell for you self if the price will go above $30k or not https://coinmarketcap.com/currencies/bitcoin/#Chart

[Ndabagi01]

According to Analyst Crypto Tony, BTC prices are forecasted to hover within the $29,400 to $29,500 range for the week ahead. However, a bullish uptick is foreseen on August 20, 2023, with the possibility of breaching the $30,000 mark. Recent months have demanded substantial bullish forces to overcome these thresholds, hinting at an impending resurgence in Bitcoin's volatility.

Bitcoin analysts will always say this and that and forecast the bitcoin price, which does not always come true. But I see several encouraging signals in his analysis, and I'm fairly certain that his prediction will come true. Although bitcoin has already gone above the stated amount this year, I believe that if it crosses the $30,000 level, it will most likely not return below that number again, and we will continue to see a rise with occasional minor corrections as time passes.

With the provided link and the picture you can tell for you self if the price will go above $30k or not https://coinmarketcap.com/currencies/bitcoin/#Chart

Graphs can be difficult to grasp at times, and some individuals are unsure how to interpret them. Graphs do provide some illustrations that we can use to determine where the price is headed, but they do not guarantee that it will continue in that direction indefinitely.

[Eternad]

With the provided link and the picture you can tell for you self if the price will go above $30k or not https://coinmarketcap.com/currencies/bitcoin/#Chart

What exactly your interpretation with that price chart and the link you provide? It doesn’t make sense at all to determine what’s the next move of Bitcoin. One thing is for sure here that Bitcoin will surely surpass that 30K psychological barrier since Bitcoin ATH was above 65K.  That 30k level was breach multiple times in the past before the ATH reach so breaking it while there’s already a higher price target achieved is very easy. The on,y question here is when.

Your chart only shows temporary price action. I don’t know what your specific position with this comment but the chart doesn’t provide useful information to determine the next move.

[Woodie]

Europe has unveiled the inaugural Bitcoin Spot ETF, marked by the launch of $BCOIN, a symbol that signals a noteworthy step forward in Bitcoin's embrace.

Anticipate significant market movements in the upcoming week due to the initiation of BTC price volatility.

Sorry and just how does the launch of $BCOIN show support for Bitcoin?? I guess we all know the answer to this question  is it doesn't. If these guys really wanted  to honour or embrace Bitcoin they would have done so without introducing another altcoin on the market! Btw If you connect the dots, what's actually happening here is that  these guys are trying to hitch a ride on bitcoins success and call it supporting Bitcoin which we all can see that it's deception, and trying to feed as a centralized coin..

-snip-

The question lingers: How long can the bullish momentum be sustained?

Not as bad as it sounds for bitcoin, but if they can coordinate the process of getting  an approval..most certainly the momentum can be sustainable,  besides one price starts to go up the speculation alone can provide some support to keep price up

Will BTC go above $30,000?

From where price is currently sitting,  30k can be easily breached without breaking  a sweat,  let's talk about getting to $50k and above for now 

[Faisal2202]

I think this time period is the longest time when BTC was that less volatile like we should say it become a stable coin now and that's good thig IMHO. Because BTC is cooking and collecting fuel for next flight to Moon of another planet. And yes i definitely think that BTC will go above $30k easily.

Because $30k is the most easiest Resistance level that it will break with time but due to the news of Paypal restricting the buying and selling of things using BTC might make market to bleed but this is just temporary and there is still so much room for the BTC to grow.

You question is so childish although i still not stopped my self to give you some hope but please do not use my advice or POV as defending attack when the things went upside down. hehe.

[goaldigger]

Will BTC go above $30,000?

From where price is currently sitting,  30k can be easily breached without breaking  a sweat,  let's talk about getting to $50k and above for now  

Even if Bitcoin is having a hard time to break that $30k level, I also believe that we can easily go beyond that level once we already get the momentum.
The price is still on the sideway trend which I think is a good preparation for the bull trend. Set your target price for profit taking because for sure, the next bull market will be a long one and the real target is actually $100k by next year, so let's wait for that and hold more.

[rhomelmabini]

Not that fast I guess. We will see Bitcoin above $30k when the market allows it, right now we're probably in the boring state when it's just bouncing around the box of support and resistance at 28k-30k. I think the bullish turn is when BlackRock will really approved their BTC ETF proposal. I'm happy to accumulate while Bitcoin is doing like this.

[JoyMarsha]

Is that what to think twice on? Not in any way. Bitcoin will for sure go above $30k and even more. Don't be deceive about the price decrease you see, that makes it seem like a $30k price is difficult to cross. it is just temporary and it won't be long for bitcoin to go above the $30k price. By September or whereabouts, bitcoin is supposed to be above $30k by right. Am looking at a $35k price before the end of the year.

By next year, we should be talking about higher prices of bitcoin. You should acquire more bitcoin now, as the opportunity is open because $30k will be a small amount when we enter the bull run

[Asuspawer09]

In the past months, we already reach 31,000$ price as its peak and there was already resistance there, I think it was because of the XRP news that hype the market and pump the XRP market price as well, So we already see that the Bitcoin market could easily achieve that kind of market price, Probably 40,000$ is going to be the next one and I was hoping it could easily be reached before the end of the year, It was already evident that the end of the year was always where the market price pump so probably on December we can expect another pump on Bitcoin that its possible to reach 40,000$ and i think because of the Bitcoin  Halving hype a lot of investors are going to jump righ into Bitcoin at that time, I mean it might not happened but for sure the Bitcoin halving hype is going to kick in in the end of the end or probably the next year around 1st quater, in my experience your gonna need to accumulate more at this time because when the hype started a lot of investors are going to sold there Bitcoin for a quick profit for sure.

[STT]

Ironically BTC is slipping not popping, the overall market is apprehensive of Chinese bad figures, awful housing market and we know from 2008 that bring everything down potentially as its always linked to the banks and their mess etc.



Way below weekly and 2 day averages, its at least good for 25k in potential.   For proper estimate really need to take daily bars, see end of weekly bar close on Sunday etc.   but it appears weak anyhow.  A bounce back to 30k on ETF news or similar positivity would be nice but not there so far.

[Yaunfitda]

Ironically BTC is slipping not popping, the overall market is apprehensive of Chinese bad figures, awful housing market and we know from 2008 that bring everything down potentially as its always linked to the banks and their mess etc.



Way below weekly and 2 day averages, its at least good for 25k in potential.   For proper estimate really need to take daily bars, see end of weekly bar close on Sunday etc.   but it appears weak anyhow.  A bounce back to 30k on ETF news or similar positivity would be nice but not there so far.

Thanks, I was about the whole day with my crypto activity, and just surprised when I logged it today and saw that we have slipped below 29k again? Wow, I thought that we will have good news, unfortunately, it seems the market reacted negatively.

I also thought that we have a good news like this one:

On Aug. 16, the National Futures Association (NFA) — designated by the U.S. commodities regulator as a registered futures association — granted Coinbase permission to operate a Futures Commission Merchant (FCM) platform.

https://cointelegraph.com/news/coinbase-futures-approval-seen-as-a-major-win-amid-war-on-crypto

But I guess it didn't have the enough hype about this positive news.

[Nrcewker]

Bitcoin’s price always depends on it’s users. I don’t see why you exactly mentioned 30k usd? Is this because of the coin struggling in 29k usd price segment for few months? You need to understand the policies which affect the price of Bitcoins. Bitcoins are limited in number, hence very rare. So if their’s users sells more coins then buying it, then the demand to acquire Bitcoins goes down and along with it, the price also goes down. The reverse needs to happen in order for the price to go up.

[Nheer]

Anticipate significant market movements in the upcoming week due to the initiation of BTC price volatility.

We have been patiently waiting for the bullish trend and we all know bitcoin will still hit its peak, in a matter of weeks I believe we would cross above $30k. Bitcoin was once below $20k and still went back up so there is nothing to worry about and we are still anticipating a positive movement in weeks to come.

BTC prices have been range-bound with notably subdued volatility for the past seven months. The current compressed state of the price requires a stable foundation for a potential upward surge to $30,000. The introduction of a Bitcoin spot ETF might be the catalyst propelling prices toward this threshold.

Bitcoin has not really shown much movement lately and for the past few weeks after dropping below $30k it has been moving within a certain range around $29k and hasn’t make it to $30k as we all are anticipating. I also think with the introduction of bitcoin spot ETF we could witness a shocking positive movement in bitcoin price that could see us cross the $30k mark and possibly even higher.

[Baofeng]

Bitcoin’s price always depends on it’s users. I don’t see why you exactly mentioned 30k usd? Is this because of the coin struggling in 29k usd price segment for few months?

Most likely this is the case, we have been struggling to really go to $30k this year, yes we achieved it already but it seems that something about this price that it become a bigger psychological barriers for traders and speculators to break.

You need to understand the policies which affect the price of Bitcoins. Bitcoins are limited in number, hence very rare. So if their’s users sells more coins then buying it, then the demand to acquire Bitcoins goes down and along with it, the price also goes down. The reverse needs to happen in order for the price to go up.

I think you meant the fundamentals, yeah it's based on supply and demand. Next year we will be having our halving again (every 4 years), so it means that the supply will dwindle into half, thus making it more scarce as ever.

[hugeblack]

The difficulty of breaking the $31,000 resistance level, and the price continuing to be close to the support level of the current price range are all indications that we may test $25,000 in the medium term and $21,000 if things are going bad. we have a meeting of the Federal Reserve next month, and it is likely that an increase in interest rates will be calculated by 25 basis points during the next two weeks, all of which are indicators that pressure the price, so unless the price rebounds soon, we will see prices near $31,000, then we will return to $25,000.

[armanda90]

Difficult break out above $32k and fact Bitcoin current price right now under $28,000, its seems difficult with OP predicting about Bitcoin price above $30,000 after hasn't interested news. Probably, have been eight months in this year Bitcoin difficult to break out higher price after most lower price under $20,000 and not close opportunity with Bitcoin chance will back again to lower price.
Must be patience for several months later to see Bitcoim back to higher price or we still enjoying moment with Bitcoin keep going drop or stable around $29,000 to $30,000 until in the end of this year.

[posi]

You need to understand the policies which affect the price of Bitcoins. Bitcoins are limited in number, hence very rare. So if their’s users sells more coins then buying it, then the demand to acquire Bitcoins goes down and along with it, the price also goes down. The reverse needs to happen in order for the price to go up.

I think you meant the fundamentals, yeah it's based on supply and demand. Next year we will be having our halving again (every 4 years), so it means that the supply will dwindle into half, thus making it more scarce as ever.

Bitcoin's supply is still 21 million bitcoins, it doesn't decrease with each halving, to be precise, mining is becoming more and more difficult. You guys always emphasize the supply but forget to mention the demand of bitcoin. Supply is limited but demand does not increase, then the price will never increase, supply is not the only factor for bitcoin to increase in price if there is no demand. We should judge the value of bitcoin by looking at supply and demand, we shouldn't focus too much on the halving, what if the bitcoin price doesn't increase after the halving?