The future of Bitcoin: Bullish or Bearish

[wilkine]

Bitcoin's recent performance has raised concerns, with various factors impacting its trajectory. However, it's important to approach its future outlook rationally.

Technically, Bitcoin faces challenges with a critical support level at around $25,500. A break below this could lead to further declines, potentially testing $20,000.

In the short term, a price above $2.58 might signal a trend reversal, while surpassing $2.65 could indicate a rebound. But until Bitcoin shows significant strength, rebounds may be brief.

Ethereum has its challenges, with low trading volumes and the recent hacking of founder Vitalik Buterin's Twitter account affecting its reputation. Short-term market stagnation is possible.

In terms of news, the FTX token sale case may appeal in September. However, the market's ability to absorb a $200 million sell-off remains uncertain. Key events, including the FTX case and economic data, are being closely watched.

Some analysts believe this drop may be manipulated to liquidate long positions. The market is contracting, with funds flowing to a few, causing a drop in Bitcoin's trading volume.

For future trends, caution is advised. Bitcoin may rebound in October, but September is uncertain. The purchasing power of $1 has changed since 2021, making funds cautious. Altcoins' response to Bitcoin's rebound and their gains should be approached carefully. In the short term, risk awareness is vital.

In summary, a rational, calm approach is essential in the cryptocurrency market. Make investment decisions based on your circumstances and risk tolerance, avoiding being swayed by sentiment.

[1714775645]

1714775645

[1714775645]

1714775645

[1714775645]

1714775645

[1714775645]

1714775645

[Rruchi man]

The future of bitcoin is both Bullish and Bearish, not one of the options.

There are advantages to both of them to the market, so they will need to keep occurring for balance sake.

We do not want long bearish seasons, we want longer Bullish season.

[sesterceshop]

It's important to stay calm and not panic. There are a lot of factors that could be impacting Bitcoin's price right now, and it's impossible to predict what will happen next. Patience is key. Have a long-term investment horizon, especially for Bitcoin, because it will be a fruitful bull run for you.

[LoyceMobile]

The future of fiat money is bearish. That's all I need to know about Bitcoin.

[yazher]

Considering the fact from its past history just after the bitcoin halvings, I can surely say that it will be going bullish and just give it some time because we all know how it ended up last time. Before that most people were in doubt about whether Bitcoin price would rise because they saw that it has never-ending ups and down and it's been facing a decline that time just before the unstoppable spike of the price happened until it creates another ATH. Now, people are back to their old ways again, they never learn and speculate negatively back and might also lose the opportunity to invest early again.

[Fivestar4everMVP]

Well, the future of Bitcoin is always bullish for me, though there will always be times when the price of Bitcoin will have to be on the decline, that is absolutely nothing to bother or worry about, Bitcoin is just doing what makes it a currency and an asset, one of the characteristics of a currency is it's price against other currencies rises and falls, there is no currency or asset any where in the world that it's value just keeps going up and up and up like "The Billion Coin", (if we still remember those days ).

So the decline in the value of Bitcoin at this moment is nothing to worry about, infact, I am seeing this as the last opportunity Bitcoin is giving us to buy in before the year end, as by 2024, Bitcoin might be on the rise all through.

[Afnan_faizah]

I think bitcoin price can reach $24K in this month and then it will pump to over $33k in october, but it is just my opinion. at least we can expect the value of or money in btc will always tend to increase as the number of btc adoption is still growing. maybe the future will be bullish and then bearish and it will repeat.

[Dunamisx]

Technically, Bitcoin faces challenges with a critical support level at around $25,500. A break below this could lead to further declines, potentially testing $20,000.

Bitcoin Spiral clock


source

We can look at the progress of bitcoin over the years with respect to the price and every occasions of halving from the past, also compare the blocks reward and blocks mined to the one left, when we sum up everything all together, we can see that bitcoin dip is not enough to raise a resistant allover the network protocols and past achievements, bitcoin is a digital currency that will always rise whenever it falls, there are more than enough evidence to proof this, in most instances, the bear market may linger just to unveil the intended bull market, everything we might be passing through by now could only be to the preparedness against the forthcoming bullrun for as many as possible to invest and hodl.

[dzungmobile]

You can ask this question many times, daily, weekly or monthly but if you have a long term vision and only look at Bitcoin with its yearly candles, I am sure you will no longer have this question.

Because, the yearly candle chart clearly wipes out your uncertainty about the trend of Bitcoin, bullish or bearish. Yes, it is very bullish since 2009.

If you have habit to use smaller time frame candles, it's time to change. It's time to zoom out to have a wider picture and see the trend.

[jeraldskie11]

Some analysts believe this drop may be manipulated to liquidate long positions. The market is contracting, with funds flowing to a few, causing a drop in Bitcoin's trading volume.

This is what I think will happen in the market of Bitcoin. The trend is still bullish, and there's no sign of reversal yet. If Bitcoin price closes below $24,500 that would be alarming since it indicates that the sellers are in control and also there is a liquidation plan on FTX which might be a bad news for crypto if they get approved. What I saw in the market right now is not clear that the price will continue to go up since the weekly candle didn't close yet. If the price will stay above $26,000 this week, there's a high chance that the price will continue to go up.

[michellee]

I think bitcoin price can reach $24K in this month and then it will pump to over $33k in october, but it is just my opinion. at least we can expect the value of or money in btc will always tend to increase as the number of btc adoption is still growing. maybe the future will be bullish and then bearish and it will repeat.

The price of Bitcoin could reach $23k or lower this month, especially if negative news is released. This will clearly create fear for investors, especially new investors who do not yet have a strong foundation in holding Bitcoin.

But in the long term, Bitcoin will still have another bull run. And even if it happens in the next year or 2 years, that's okay too. We just need to be patient, wait, and remain calm to see the opportunities that exist.

And if the price of Bitcoin is pushed down due to a lot of negative news, that means our opportunity to buy Bitcoin at a low price is increasingly wide open. That means we are still given the opportunity to accumulate more Bitcoin at low prices.

[BRINIRHA]

Bitcoin's future will certainly face alternating bull markets and bear markets. And it can't be avoided. Because that is what should happen to crypto which has a volatile nature. In contrast to stable coins which are always boring because they continue to run flat

The current rapid movement in the price of bitcoin seems to liquidate people playing in the futures market. Because today I saw many positions being liquidated on the market. Because the movement of bitcoin suddenly goes down quickly and suddenly goes up quickly. People are even convinced by their technical analysis which shows signs of a decline. So many people put Short. But then today the market recovered quickly. And liquidated many positions. But that's short term. Meanwhile, in the long term, I believe Bitcoin will have a quite profitable future for its holders.

[Shishir99]

For some reason, I believe, AI generates your content and I am sure you don't know what you are talking about. Unfortunately, I cannot prove my claim because I could not verify this post with some tools. But I have checked your post history which is full of AI content. I highly suggest OP not use these to Write content and not join the discussion if you are not interested in it. If you have a genuine interest in something, please create original content so people might give you suggestions if you lack knowledge. AI is certainly more intelligent than you and this is why you won't learn anything from these threads.

[hyudien]

Why bother with Bullish and Bearish when we are used to going through these 2 seasons every year? To make Bitcoin stronger and more trustworthy, there must be a touch of counter and balance. When FTX liquidates large amounts of its assets, it means a lot of Bitcoin is released into the market. Who will buy it? you or the whales? make a choice because this situation is quite sad but like it or not it will happen. We as small holders will definitely be affected. The right question now is, would you also sell it along with FTX? Or do you actually buy on sale? Are you strong with this negative news? If not, let go of the handle and let us take it for cheap.

BTW, maybe this is Blackrock's chance to step in to buy more, worried? please enjoy the bear market, then after that we leave by fast train.

Altcoins? I don't care anymore

[cafter]

Bitcoin's recent performance has raised concerns, with various factors impacting its trajectory. However, it's important to approach its future outlook rationally.
Technically, Bitcoin faces challenges with a critical support level at around $25,500. A break below this could lead to further declines, potentially testing $20,000.

Most of us don't worry about bitcoin's price in the short term; whether it's bullish or bearish, we simply hodl onto it tightly and securely.
but i think price will fall further down, because FTX's users will sell their bitcoin holdings and other crypto holdings which will cause fall in price.

FTX administrators have managed to retrieve approximately $7 billion in assets, of which $3.4 billion is in cryptocurrencies. A court hearing scheduled for Wednesday will review a proposal to initiate token sales as part of the creditor repayment plan, as per recent filings.

A presentation highlights that FTX possesses close to $1.2 billion in SOL, Solana’s native token. The asset inventory further includes $560 million in Bitcoin, the largest cryptocurrency, and $192 million in Ether, the second-largest cryptocurrency.

https://coingape.com/crypto-volatility-shoots-over-ftxs-rumoured-3-4-billion-sale-whats-the-fud/

[kryptqnick]

With Bitcoin, it's not an "either-or" situation of bullish vs bearish trends in the future. Looking at the price movement this year, it seems to me that Bitocoin is climbing up, but with big setbacks along the way. For example, the price was generally around $22k from mid-January till mid-March, around $27k till June, then over $29k since the end of June and till the middle of August, but now it's been around $26k for a few weeks. I hope it's a minor setback that won't spoil the general trend. And in the grand scheme of things, it doesn't really matter if it goes up or down in the near future, as Bitcoin's life is likely to be full of bullish and bearing markets in the future with, hopefully, a continuation of the overall long-term upward trend.

[Volgastallion]

First of all i think this thread can fit better on economics than bitcoin discussion, its not bad placement but i think it can fit more in the other section.

If you are asking this its because you have doubts about this, lest make this simple, Fiat money its in their last , with high inflation in the whole world, right now we see a "pause" on that inflation rate but in the short time we are gonna see again that inflation hyke even more than before, so BTC its gonna be bullish no matter what against them.

[Poker Player]

Those of us who are active on this forum and just visit the shitcoins section are bullish on Bitcoin, especially in the long term. The longer the term, the more bullish we are. If anyone is concerned about how low the price is supposedly at the moment just zoom out a bit and while you're at it revisit old threads and see how bad the defeatists of years ago in the face of price declines have become.

[Zigabel]

In summary, a rational, calm approach is essential in the cryptocurrency market. Make investment decisions based on your circumstances and risk tolerance, avoiding being swayed by sentiment.

The future of Bitcoin can be both bullish and bearish as either scenario are relative, this depends on what period we are currently experiencing in the market hence we predicting the future of Bitcoin should be aligned with the current market situation if it's a bullish market or a bearish market. Furthermore we have experienced a bearish market in the past two years.

In those two years some persons lost some money to the bearish market. Hence there have been a high anticipation of a bullish market considering we are about to experience a halving of Bitcoin in few months to come. From my point of view the future of Bitcoin in few months from now will be bearish, hence I have stacked up a few unit of Bitcoin awaiting it's bullish period so I can make some profit from this bullish future. If you want to invest in Bitcoin at this time I think it's a good idea but invest according to your available money.

[Z-tight]

The future of BTC in itselt doesn't depend on only the price, i know that the price is the most important factor for speculators but it isn't so for people who want to use BTC as a payment method. Adoption of BTC is going to continue growing and the network is obviously secured, so there isn't going to be any successful attack on the network, the future of BTC is bright and the more people understand the need to use a censorship resistant currency, the more adoption will increase.