jeraldskie11 (OP)
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October 15, 2023, 01:37:42 AM |
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The previous ATH of Bitcoin before its current ATH was around $65k in April 2021. And after that, the price of bitcoin suddenly dropped but due to the hype, many investors were encouraged, creating another ATH which is our current ATH $69k. Many thought that the price of Bitcoin will reached $100k, so many of the investors bought around $69k, but what happened? There was a sudden dump in the price that plugged many investors. And many of them who bought around 69k price were still holding their Bitcoin today. Maybe they think that if Bitcoin reaches this price, it's time for them to sell. It is certain that there will be selling pressure when the price of Bitcoin reaches such a level. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Ftalkimg.com%2Fimages%2F2023%2F10%2F15%2FRfDHg.png&t=665&c=x-GgUVuCvtsj0g) As we can see in the market today even though the halving of Bitcoin is approaching, it indicates that we are in the bullish market but more on consolidation. Do you think it is possible that the price of Bitcoin will reach $100k immediately after the halving?
Yes, very possible. Many of the old investors are still willing to invest more, and more investors to come which will result in a strong demand to overcome the selling pressure at the ATH level.
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Odohu
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October 15, 2023, 01:47:25 AM |
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Any of those who bought around $69k that still holding till now truly believe in Bitcoin and probably did not buy under pressure. This is because those who bought the hype of 2021 had already sold at loss and moved on. It is as easy as that and it's not going to change soon...
When Bitcoin returns to $69k, I don't think there will be any selling pressure instead, it will confirm the expectation S of many people who believe that Bitcoin will hit $100k... this is where I expect many of them to liquidate their assets.
Nevertheless, even if Bitcoin gets to $1m, there will still be those that will HODL and never sell off.
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Kemarit
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October 15, 2023, 03:31:24 AM |
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Regarding the question of whether we will reach $100,000 immediately after the halving? I don't think we will suddenly grow to 6 digits after halving, and it's note though what will be the price pre-halving? That is the most important question before we can see the price jumping in months and short term to $100,000 (I'm assuming that this is "immediately" as per the OP).
If it hits $50,000 before halving, then maybe specially if there is really that big news to trigger that massive growth like the news of Spot Bitcoin ETF approval next year by SEC. So really hard to see and speculate, but one thing is for sure, there's a lot of hype that our new all time high will be minimum 6 digits so even those who have bought at the previous all time high of $69,000 might still get profits if they continue to HODL on it or just go and accumulate in the bear market.
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Oshosondy
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October 15, 2023, 09:23:02 AM |
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Do you think it is possible that the price of Bitcoin will reach $100k immediately after the halving?
Bitcoin can not increase to $100000 immediately after halving, but the bullish period would have started. For bitcoin to rich six digits, that could take some months as people continue to buy than sell. Yes, very possible. Many of the old investors are still willing to invest more, and more investors to come which will result in a strong demand to overcome the selling pressure at the ATH level.
What selling pressure? In the next all-time-high? Know that there would be a peak, but which we do not know for now. After the peak price, likely selling pressure would be strong again. But bitcoin would have increased more in a way a the price before the halving would not be gotten to again
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Texac
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October 15, 2023, 09:58:58 AM Merited by vapourminer (1) |
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There was a sudden dump in the price that plugged many investors. And many of them who bought around 69k price were still holding their Bitcoin today. Maybe they think that if Bitcoin reaches this price, it's time for them to sell. It is certain that there will be selling pressure when the price of Bitcoin reaches such a level.
If they can confidently hold bitcoin for years then there is no reason they would sell it at the price they bought it at, which sounds absurd to me. instead, if we talk about selling pressure in the market, why don't you think that people who buy bitcoin for $15k, $20k, $30k...will sell bitcoin when they have the profit doubled or tripled? so, there won't be any selling pressure that can stop bitcoin during the upcoming bull season. but everything will have a limit in each bull cycle, selling bitcoin at what price depends on the vision of each investor.
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STT
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October 15, 2023, 10:07:19 AM |
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Not specifically the ATH price but the general area sure. It will all be down to volume and prior trades down at this price. Purely some people will cash out trades at the ATH price automatically without looking. While those trades are on the order book you have at least some resistance. This relates to 20k and how people said this must be the bottom price. Not really the case imo as it was light volume not observed by all parts of the market hence we did go into the teen prices and scared quite a few people. All of this is normal, we are not blessed or perfectly guided in any exact way.
The most obvious point I can make which everyone already knows, the Dollar is of no fixed value. Its losing value everyday, nominally sure the ATH is the same price but value we not able to pinpoint any price properly as its never the same.
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NeuroticFish
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October 15, 2023, 10:15:30 AM |
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And many of them who bought around 69k price were still holding their Bitcoin today. Maybe they think that if Bitcoin reaches this price, it's time for them to sell. Somebody who knows what he's doing and has bought at 69k (although I'd say that the one who knew what they're doing have bought much cheaper) has either sold when the price started showing a downturn (55k) and maybe bought back when the price started showing some recovery (~20k?), either will wait much longer than just 69k and some change. But 100k si a psychological target and I expect quite some (even much older holders) will sell around then, creating a temporary sell pressure. But a good keyword here is temporary. Compared to the whole length of the bull run, the 100k "pause" might not even become that much visible.
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salad daging
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October 15, 2023, 10:32:56 AM |
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For those who buy at the ATH price, it is certain that they will hold with patience for almost 4 years, if for example bitcoin reaches that level, it means that those who bought first only sold their initial capital did not want to hold a little longer because maybe the reason for boredom or did not want to lose more, but believe me when from them there is an urge to hold more then maybe they can feel the price of $100K because this is quite realistic for us to see.
When the selling pressure reaches the previous ATH peak, there will definitely be heavier selling pressure but I don't think it will succeed in breaking through a bigger wall when bullish will arrive, this is not after the halving will immediately rally, but there is some time (months) for bitcoin to be truly bullish.
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michellee
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October 15, 2023, 10:40:33 AM |
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I don't think Bitcoin price will reach $100k immediately after the halving. If we look at the previous 2 halvings, Bitcoin's price took time to reach its peak. So it seems, for the next halving, Bitcoin still needs time to reach its latest ATH.
And for people who already bought Bitcoin at $69, they probably won't sell Bitcoin at around that price. They will have a higher selling target, $ 75k- $ 100k or even higher. That's so they can get big profits. But people who bought at the current price or even at $15k-$17k can sell when the price exceeds $69k.
But whatever the high price of Bitcoin later, you have to determine the selling price you want so that you can take the profits. The important thing is that you can still accumulate more Bitcoins.
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jeraldskie11 (OP)
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October 15, 2023, 01:13:52 PM |
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Any of those who bought around $69k that still holding till now truly believe in Bitcoin and probably did not buy under pressure. This is because those who bought the hype of 2021 had already sold at loss and moved on. It is as easy as that and it's not going to change soon...
When Bitcoin returns to $69k, I don't think there will be any selling pressure instead, it will confirm the expectation S of many people who believe that Bitcoin will hit $100k... this is where I expect many of them to liquidate their assets.
Nevertheless, even if Bitcoin gets to $1m, there will still be those that will HODL and never sell off.
Selling pressure in the ATH area is normal because that is the reason why the price of Bitcoin or alts dropped. Well, the ATH zone is the strongest resistance meaning it cannot be broken easily. So it really needs enough demand to break the ATH. In fact, if the ATH is broken, there is no other resistance that needs to be broken so it is easy to reach the $100k price of Bitcoin. If they can confidently hold bitcoin for years then there is no reason they would sell it at the price they bought it at, which sounds absurd to me. instead, if we talk about selling pressure in the market, why don't you think that people who buy bitcoin for $15k, $20k, $30k...will sell bitcoin when they have the profit doubled or tripled? so, there won't be any selling pressure that can stop bitcoin during the upcoming bull season. but everything will have a limit in each bull cycle, selling bitcoin at what price depends on the vision of each investor.
I see your perspective, but the reality is that you are referring to the small investors that purchased at that price. To be honest, if they sell their investment because they have already made a profit, the price of Bitcoin will not be changed significantly. The institutions and whales are the reason of the impulsive candlesticks on the chart. So those selling pressure in ATH, they are the possible cause of that. Based on my observation on the chart, the selling pressure is strong in the ATH area.
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Lucius
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October 15, 2023, 01:46:18 PM |
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If we start from the fact that most people invest in Bitcoin exclusively for profit, then there is no doubt that any significant price increase results in a certain sales pressure, which again can mostly be amortized with increased demand due to the appearance of new investors who will be carried away by the FOMO wave.
You should also take into account the fact that a large amount of BTC is in the possession of investors who have kept it for more than 5 years and bought it at significantly lower prices than is the case today, and considering that $100k is a very nice and round number, many have it as an exit point - especially those who dream of becoming millionaires and have at least 10 BTC at the moment.
It would therefore be logical to expect that the selling pressure will be much greater than before when a new big bull run starts, and we should not ignore institutional investors who will be looking for their opportunity for profit.
As for the halving and the price change, I don't believe that anything positive will happen right away - and maybe even a slight drop will happen, which will be precisely caused by your way of thinking. What I want to say is that too many people see the halving as some kind of magical trigger that automatically raises the price, but the matter is much more complicated.
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flyingcarpet
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October 15, 2023, 06:26:12 PM |
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If we start from the fact that most people invest in Bitcoin exclusively for profit, then there is no doubt that any significant price increase results in a certain sales pressure, which again can mostly be amortized with increased demand due to the appearance of new investors who will be carried away by the FOMO wave.
You should also take into account the fact that a large amount of BTC is in the possession of investors who have kept it for more than 5 years and bought it at significantly lower prices than is the case today, and considering that $100k is a very nice and round number, many have it as an exit point - especially those who dream of becoming millionaires and have at least 10 BTC at the moment.
It would therefore be logical to expect that the selling pressure will be much greater than before when a new big bull run starts, and we should not ignore institutional investors who will be looking for their opportunity for profit.
As for the halving and the price change, I don't believe that anything positive will happen right away - and maybe even a slight drop will happen, which will be precisely caused by your way of thinking. What I want to say is that too many people see the halving as some kind of magical trigger that automatically raises the price, but the matter is much more complicated.
Those who wait for the price of bitcoin to rise for a long time and who only want to make a profit will create price pressure. As you said, this can be overcome together with new investors. 100k is a dream for many people. This dream has been around for years and I wonder what might happen in the market when it comes true. When a price comes that many investors have been waiting for years for, there will be a lot of selling pressure. If the price reaches 100k, we can see a lot of selling and buying there. It will not be easy to pass 100k, but I think we will pass. I agree with what you said about the halving. In addition, I can state that, as the halving approaches or after, I think there may be some movements in the market depending on the behavior of corporates.
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_BlackStar
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October 15, 2023, 07:33:04 PM |
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Do you think it is possible that the price of Bitcoin will reach $100k immediately after the halving? No - $100k won't be reached immediately after the halving. Supposedly we need to be patient for a few months to expect an ATH - but if the bitcoin market is not affected by something major then it may take us months to find an ATH. The halving alone will never be enough to hit $100k - but there will be big news that results in a masive increase in demand such as adoption and the rise of institutional investors using bitcoin as a hedge. I hope it - but I think we all need to be patient.
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Pierre 2
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October 15, 2023, 07:39:14 PM |
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I think we will have strong demand around halving so there won't be any unique issues that will delay all time high again. But I also believe there will be selling pressure when we hit above last halving ath. Even if we go beyond that there will be psychological pressure around 100k levels that will cause massive volatility. I always think best is to follow Pi top indicator as it clearly showed evidence where/when we hit all time high in last all time high.
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imamusma
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October 15, 2023, 07:59:41 PM |
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Each investor's profit target will be different, so in my opinion there will always be those who sell at every resistance and take profit. $100K is not completely guaranteed although it may be reached after the halving, so selling pressure between the previous ATH to $100K I think will be high.
I don't think it's a problem that could prevent $100K if bitcoin demand is higher than sales. Let the weak hands sell and take their profits and be patient until you make 2x or 3x more than them.
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darkangel11
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Don't let others control your BTC -> self custody
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October 15, 2023, 08:12:55 PM |
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Do you think it is possible that the price of Bitcoin will reach $100k immediately after the halving? Yes, very possible. Many of the old investors are still willing to invest more, and more investors to come which will result in a strong demand to overcome the selling pressure at the ATH level.
I don't think it will. First of all, bitcoin's price isn't directly related to halving. You could see some examples of it over the year. Halving is one of the factors that influence price growth and may lead to FOMO, but it doesn't have to. After the 2020 halving we remained in the 10k zone for months. In July 2019 the price was around 12k and a whole year later it was actually lower, at 10k, despite it being months past halving. There's no rule that says price has to go up right after halving and it hasn't happened in the previous cycle. I think that the pressure will depend on the road bitcoin takes to 100k. If the road takes years, there won't be significant. If it happens in 2024, the way you speculate, the pressure will be big. Obviously if we go to 80k in 2024, fall down, move back up and reach 100k in 2025, people will be more confident than if it suddenly spikes to 100k in less than 6 months.
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karabiber
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October 16, 2023, 08:34:58 AM |
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Do you think it is possible that the price of Bitcoin will reach $100k immediately after the halving?
Crypto analyst PlanB's popular S2F model predicts Bitcoin's price at $100,000 in 2024. However, with the 2024 Halving, i think we will not see Bitcoin's performance similar to previous halvings, as the bear market after the Halving event could hinder Bitcoin's upward momentum. Market sentiment and macroeconomic factors can influence the overall direction of the cryptocurrency market. Moreover, the rise of competitive and innovative cryptocurrencies could threaten Bitcoin's dominance. As new digital assets emerge and become mainstream, they may cause some investments to shift away from Bitcoin. After the halving, rewards will be halved and cost calculation for miners will take center stage. This will increase the cost of mining operations and miners may not want to do their work. This could directly affect the transaction verification process and undermine the security of the network. In summary, I'm not too hopeful about the 2024 Halving and we may not see the price rocket like in the past.
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posi
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October 16, 2023, 09:22:04 AM |
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Each investor's profit target will be different, so in my opinion there will always be those who sell at every resistance and take profit. $100K is not completely guaranteed although it may be reached after the halving, so selling pressure between the previous ATH to $100K I think will be high.
I don't think it's a problem that could prevent $100K if bitcoin demand is higher than sales. Let the weak hands sell and take their profits and be patient until you make 2x or 3x more than them.
In addition to the different profit-taking goals of each investor, when the market increases in price, we will have many new people entering the market, I believe that many people will still optimistically buy at high prices and expect higher prices. Like investors who bought bitcoin for $69k in 2021. There will always be a pool of investors who become liquid for other investors and that is how the market works. Furthermore, the market not only has retail investors but we also have market makers and sharks...And this is a manipulated market, so how much bitcoin reaches its ATH is not entirely determined by buying and selling.
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Nrcewker
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October 16, 2023, 12:56:34 PM |
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Yes it can happen. Now a days the crypto market is very unpredictable to be honest. So yes there is a possibility that this might really happen very soon. But to be safe, let’s assume that the ATH price will be seen when we reach 2024. As we know Bitcoins follow a 4 year cycle to reach ATH price, so yes waiting for 2024 will be the best option. In the meantime, buy as many Bitcoins as you can and hold it for long term.
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KingsDen
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October 16, 2023, 02:15:32 PM |
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Any of those who bought around $69k that still holding till now truly believe in Bitcoin and probably did not buy under pressure. This is because those who bought the hype of 2021 had already sold at loss and moved on. It is as easy as that and it's not going to change soon... It is not as easy as you have said to sell at lose. Anyone who buys for a purpose and bought with big capital will not just sell at lose. It is not easy to sell at lose especially if you know the potential of bitcoin to make another ATH after every halving. When then price dropped from 69k to somewhere 65k to 50k, that was the region anyone was supposed to sell at lose. But then, they might have thought it was a mere correction and still held strong. If anyone bought at 60k and didn't sell at 50k, their loses would be massive. What you said will play out. History is a nice something to behold if you understand it. There is going to be a massive sell pressure at 70k and this will definitely defeat the 100k target. No matter how high bitcoin is projected to be, I will start selling with DCA immediately there is a new ATH.
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