Will BTC go above $30,000?

[jaberwock]

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.

Price depends on so many things. Also, he didn't exactly mentioned $30k but he said above it but is there a problem with that? I believe there isn't. Maybe that is only the price that he likes which for me much better because it's more achievable than those $100k and above. BTC might be stable at $29k for a long time but to call it struggling seems not a right word to use. It was perfectly normal.

There will always be a time for the bear, bull and the market to be stable. BTC are indeed limited in number but not very rare. If more people sells, price could dip which later makes the demand rise. If this continues, it will be a way for a recovery and price increase.

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[Franctoshi]

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 for 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?

I agree with you that Bitcoin's limited supply isn't the only factor to push the price up, even with the reduction in supply bitcoin can't increase in price without demand, however, supply and demand, both work in tandem because once you are cutting the supply of something, in the other hand you are encouraging demand and that's the fact with the law of demand and supply, The bottom line is that Bitcoin will be on increasing demand so far the supply is getting reduced.

[justdimin]

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.

It may not be looking that great right now but going above 30k is also not that hard neither. I mean it may take some time, but when it tries to go up again one day it will be quite easy. We are already close enough and that means that we are going to end up with that type of price very soon. We should be aware of the situation and not be really wondering what will make it better or worse.

If we are aware that the price is not doing well right now, that means it's time to buy bitcoin, because it's better to buy it when it's low. It's also important to be aware of the fact that it's not that low right now, and it could go up very quickly when the bull starts and that's why we will not be waiting all that long for it to happen.

[coolcoinz]

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?

OK, so tell my why there shouldn't be a demand for bitcoin. It works pretty much like digital gold and is currently the best store of value out there, because it's the first and the only decentralized way to hold money. Every other thing is limited, requires a third party, or like gold is hard to carry around and sell. Bitcoin is simply the best and if you give people time, more and more will get to understand this.

Even if we ignore the above, bitcoin was trading at above $40k for almost a whole year in 2021. Why shouldn't it be like that in the future? You're looking at 30k right now but in reality going from 30 to 35 requires very low amount of money when compared to how much people put in stocks. A single billionaire investing in bitcoin could get us above 30k today and there's a lot of billionaires in the world.

What does it mean after the halving? Do you mean a month? A year? It's mathematically impossible for bitcoin to stay flat below 30k despite the halving. It either goes up to 40k or it dies and goes to 1k and eventually below, but for that the blockchain would have to fail somehow. As long as bitcoin works it's going up.

[SmartGold01]

The price increase of bitcoin doesn't really affect a strong believer of bitcoin, I mean as a holder you won't get disturbed over the price fluctuations and this shows not selling signal, those who buys for selling or profits maximization are the people who kept panicking about increase and decreased. But that not withstanding we are all to be positive on bitcoin price but from what I am seeing currently I doubt if the price gonna pass 30k after 20 August. The possibility for the price to surge above 30k will possibly depends on the total amount that could be purchased within the period of 72hrs will tell if the price may changes.

[darkangel11]

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.

Ironically, everyone has their own explanation. I woke up today when bitcoin was still above 28k and the news outlets were saying that a strong dollar recovering from its dip has influenced stocks and the markets are down... You say that it's because of Chinese figures... I saw an article on one of those crypto news that it's because ETF got delayed... Nobody knows anything to be honest andf bitcoin just does what w few rich traders want it to do because it's easy to manipulate if only 10% of total supply is being traded and the rest is held.

As for the 25k potential, the 200 WMA is currently at 27k, so that should act as support. Not that I care, I'm not selling anything at 30k or below. It's far too cheap now.

[Ultegra134]

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?

OK, so tell my why there shouldn't be a demand for bitcoin. It works pretty much like digital gold and is currently the best store of value out there, because it's the first and the only decentralized way to hold money. Every other thing is limited, requires a third party, or like gold is hard to carry around and sell. Bitcoin is simply the best and if you give people time, more and more will get to understand this.

Even if we ignore the above, bitcoin was trading at above $40k for almost a whole year in 2021. Why shouldn't it be like that in the future? You're looking at 30k right now but in reality going from 30 to 35 requires very low amount of money when compared to how much people put in stocks. A single billionaire investing in bitcoin could get us above 30k today and there's a lot of billionaires in the world.

What does it mean after the halving? Do you mean a month? A year? It's mathematically impossible for bitcoin to stay flat below 30k despite the halving. It either goes up to 40k or it dies and goes to 1k and eventually below, but for that the blockchain would have to fail somehow. As long as bitcoin works it's going up.

That's correct; I also don't see any valid reason for Bitcoin not to surpass $30,000. I understand that the OP is possibly concerned about the current crash in the market, with Bitcoin's worth at $27,900 as we speak, as we were used to it being stable during, the past few months. It is said to be the period with the lowest volatility since 2016. However, as you've also mentioned, Bitcoin was being traded at over $40,000 for over a year, while not long ago, probably less than a month ago, it had reached the price of $31,000. To sum up, it's statistically impossible not to see a recovery somewhere within 2024.

[taufik123]

The price increase of bitcoin doesn't really affect a strong believer of bitcoin, I mean as a holder you won't get disturbed over the price fluctuations and this shows not selling signal, those who buys for selling or profits maximization are the people who kept panicking about increase and decreased. But that not withstanding we are all to be positive on bitcoin price but from what I am seeing currently I doubt if the price gonna pass 30k after 20 August. The possibility for the price to surge above 30k will possibly depends on the total amount that could be purchased within the period of 72hrs will tell if the price may changes.

As long-term holders, it will not have any effect, they will certainly buy gradually when Bitcoin goes down and it will increase their assets.
But for those who panic and only rely on quick trades, they will sell it instantly.

Although Bitcoin is still struggling to break $30k at the moment, it would still be a good opportunity to get in before the halving happens.
Look at the table I provided below, Bitcoin in August and September has always decreased and it is likely that August and September this year will enter a bearish mode.

Source: https://bitcoinmonthlyreturn.com/

[BITCOIN4X]

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It may not be looking that great right now but going above 30k is also not that hard neither. I mean it may take some time, but when it tries to go up again one day it will be quite easy. We are already close enough and that means that we are going to end up with that type of price very soon. We should be aware of the situation and not be really wondering what will make it better or worse.

If we are aware that the price is not doing well right now, that means it's time to buy bitcoin, because it's better to buy it when it's low. It's also important to be aware of the fact that it's not that low right now, and it could go up very quickly when the bull starts and that's why we will not be waiting all that long for it to happen.

The market has shown some pretty significant dips in the last few days which actually made my portfolio down a few percent. Of course it's not a problem that worries me too much, but for some people it might be quite risky.

The market will gradually recover on its own as demand increases, but building a good portfolio is sound advice during a downturn. Yes, they need to accumulate by buying on a dip, but there's no need for coercion so they buy it with a lump sum. Still consider DCA for another possible downside, meaning they can still buy lower if prices fall rather than improve.

[lionheart78]

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.

It looks like that will be the new trend of BTC before it goes bullish.  Everytime the market move up, it is easily got sold making the market price revert to its original price before it goes up.  And now BTC plummet to $27k  it is harder for the market to break $30k barrier.  We can only observe the incoming ETF approvals for the Bitcoin market to break $30k barrier.

[South Park]

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.

It looks like that will be the new trend of BTC before it goes bullish.  Everytime the market move up, it is easily got sold making the market price revert to its original price before it goes up.  And now BTC plummet to $27k  it is harder for the market to break $30k barrier.  We can only observe the incoming ETF approvals for the Bitcoin market to break $30k barrier.

I had not noticed until I saw your comment that the price of bitcoin had gone down to 27k, it seems the 30k resistance level is way stronger than what we thought, but in a way this was to be expected, if the price went above that level then the next significant resistance should be at the 35k level, and that is about half the distance from the ATH, so it would be a price too high to reach especially when the halving still seems to be so far away.

[ajiz138]

I had not noticed until I saw your comment that the price of bitcoin had gone down to 27k, it seems the 30k resistance level is way stronger than what we thought, but in a way this was to be expected, if the price went above that level then the next significant resistance should be at the 35k level, and that is about half the distance from the ATH, so it would be a price too high to reach especially when the halving still seems to be so far away.

Over the last 24 hours bitcoin has experienced a significant drop and now at $27.5K (at the time of writing) there is a possibility that it will continue to fall and approach support levels.
It is still very difficult for the price to rise to this resistance level as there is a negative impact affecting the price but this month the market is not enough to make it positive there is a possibility of this impact until the end of the month.

We will have to see how the next month goes, of course expecting resistance to be broken again.

[Johnyz]

I had not noticed until I saw your comment that the price of bitcoin had gone down to 27k, it seems the 30k resistance level is way stronger than what we thought, but in a way this was to be expected, if the price went above that level then the next significant resistance should be at the 35k level, and that is about half the distance from the ATH, so it would be a price too high to reach especially when the halving still seems to be so far away.

Over the last 24 hours bitcoin has experienced a significant drop and now at $27.5K (at the time of writing) there is a possibility that it will continue to fall and approach support levels.
It is still very difficult for the price to rise to this resistance level as there is a negative impact affecting the price but this month the market is not enough to make it positive there is a possibility of this impact until the end of the month.

We will have to see how the next month goes, of course expecting resistance to be broken again.

This is the trend now and unfortunately the Bitcoin can even go lower for the price of $27k.
Well, its expected after many failed attempts to break the resistance level and now we are seeing the drop price. The next question is, can Bitcoin sustain its price above the support level or we might see another drop. Let’s hope for a more positive trend before the end of the Month and see how its going.

[Latviand]

This is the trend now and unfortunately the Bitcoin can even go lower for the price of $27k.
Well, its expected after many failed attempts to break the resistance level and now we are seeing the drop price. The next question is, can Bitcoin sustain its price above the support level or we might see another drop. Let’s hope for a more positive trend before the end of the Month and see how its going.

I hope we see another drop, and I hope that drop will be around the time of my job's payroll so I can buy bitcoin at a much cheaper price, hopefully I can accumulate as much bitcoin as I can while it's still plummeting, to everyone that wants to do the same, don't forget to DCA when you buy bitcoin right now, this might not be the first dip in prices. Regarding the support, let's just hope that no more whales will dump their bitcoin right now if we want to see a sustained support level, that's the only thing that might break that new support level, more bitcoin sold.

[AmoreJaz]

This is the trend now and unfortunately the Bitcoin can even go lower for the price of $27k.
Well, its expected after many failed attempts to break the resistance level and now we are seeing the drop price. The next question is, can Bitcoin sustain its price above the support level or we might see another drop. Let’s hope for a more positive trend before the end of the Month and see how its going.

I hope we see another drop, and I hope that drop will be around the time of my job's payroll so I can buy bitcoin at a much cheaper price, hopefully I can accumulate as much bitcoin as I can while it's still plummeting, to everyone that wants to do the same, don't forget to DCA when you buy bitcoin right now, this might not be the first dip in prices. Regarding the support, let's just hope that no more whales will dump their bitcoin right now if we want to see a sustained support level, that's the only thing that might break that new support level, more bitcoin sold.

it seems that this downward movement will only be short-lived. for sure, a lot of whales who are waiting for this moment are already secretly buying. worry if there is no chance of going up again. but since adoption is continuously increasing, we have high hopes that once this bottleneck is over, we will soon see the price rising again.
no single person can make this market disappear.

[Pamadar]

This is the trend now and unfortunately the Bitcoin can even go lower for the price of $27k.
Well, its expected after many failed attempts to break the resistance level and now we are seeing the drop price. The next question is, can Bitcoin sustain its price above the support level or we might see another drop. Let’s hope for a more positive trend before the end of the Month and see how its going.

I hope we see another drop, and I hope that drop will be around the time of my job's payroll so I can buy bitcoin at a much cheaper price, hopefully I can accumulate as much bitcoin as I can while it's still plummeting, to everyone that wants to do the same, don't forget to DCA when you buy bitcoin right now, this might not be the first dip in prices. Regarding the support, let's just hope that no more whales will dump their bitcoin right now if we want to see a sustained support level, that's the only thing that might break that new support level, more bitcoin sold.

it seems that this downward movement will only be short-lived. for sure, a lot of whales who are waiting for this moment are already secretly buying. worry if there is no chance of going up again. but since adoption is continuously increasing, we have high hopes that once this bottleneck is over, we will soon see the price rising again.
no single person can make this market disappear.

I agree, it's just the momentum that this whales are waiting, knowing that there are many people that will going to fall out of fea.

We need to watch carefully if we are into this business, there's pressure but we need
to work it out not to follow the direction if we wanted to be safe, just buy and hold
for the meantime and allow the market to move forward.

[Iranus]

This is the trend now and unfortunately the Bitcoin can even go lower for the price of $27k.
Well, its expected after many failed attempts to break the resistance level and now we are seeing the drop price. The next question is, can Bitcoin sustain its price above the support level or we might see another drop. Let’s hope for a more positive trend before the end of the Month and see how its going.

I hope we see another drop, and I hope that drop will be around the time of my job's payroll so I can buy bitcoin at a much cheaper price, hopefully I can accumulate as much bitcoin as I can while it's still plummeting, to everyone that wants to do the same, don't forget to DCA when you buy bitcoin right now, this might not be the first dip in prices. Regarding the support, let's just hope that no more whales will dump their bitcoin right now if we want to see a sustained support level, that's the only thing that might break that new support level, more bitcoin sold.

And it happened as you expected and I hope you accumulate more bitcoins at the current price before the bull run arrives. Many people have also said that they would like to see bitcoin drop more so they can buy it cheaply, and I hope they will buy it now, not that they are scared to see it drop that much.

There are many people who always say bitcoin is too expensive and they want it to drop more to buy, but when bitcoin drops, they start to get scared and don't dare to buy. Bitcoin has dropped quite a bit today and I think there is no better time than to buy now, if someone misses this moment, they will regret it.

[Reatim]

looks like it brings a different approach mate because look at what happened in the market now https://coinmarketcap.com/currencies/bitcoin/ while we are looking for increase and breaking 30k?
now what we broke is the lower side and that is 26k , yes we are at 26k level now and there seems to be more and more low to come.
sad to see when we expect this but we only got sideways.
sorry for most but it is frustration that others felt(of course not me because i am ready to what will come)
my Holdings are intact and i have funds in stable coin that is waiting for sudden withdrawal.
this is how i treat market now from the experience in the past.

[Latviand]

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it seems that this downward movement will only be short-lived. for sure, a lot of whales who are waiting for this moment are already secretly buying. worry if there is no chance of going up again.

That's why I'm on a time crunch to gather as much money right now because I know that the price bouncing back is imminent and inevitable. As you've mentioned, whales are definitely buying, I think that some of them have probably an inside knowledge that a dump will happen and must have shorted.

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Many people have also said that they would like to see bitcoin drop more so they can buy it cheaply, and I hope they will buy it now, not that they are scared to see it drop that much.

There are many people who always say bitcoin is too expensive and they want it to drop more to buy, but when bitcoin drops, they start to get scared and don't dare to buy. Bitcoin has dropped quite a bit today and I think there is no better time than to buy now, if someone misses this moment, they will regret it.

I just hope that those people see this drop as enough reason to buy bitcoin now because they're probably going to see it as not enough of a drop in prices and so they will wait again which will be problematic for them. The people that will say they buy when the prices drop but then the prices drop and they don't buy are the worst because they end up hurting themselves with regret. Totally agree with you, it's high time that anyone should buy bitcoin now.

[jasonjm]

Looking at recent market trends, $30k is far-fetched. The Bitcoin price tumbled below $26k, ETF approval is delayed till 2024, Space X sold their Bitcoin holdings, and China's Evergrande filed for Chapter 15 bankruptcy in Newyork. All these factors have contributed to this recent price dip. The chances are that the price might go further down towards $20k or below. So brace yourself as the worst is about to come.