Will it Hold? BTC Targets $40,000

[RioBlemz]

Will it Hold? BTC Targets $40,000

When you check the October 2023 Non-Farm Payroll data you will notice Without a doubt, the bulls continue to dominate the market as the Bitcoin price surged to a new annual high of $35,400. Given that Bitcoin miners control 10% of the total BTC in circulation, their trading actions have an impact on the BTC price.  Indicators presently suggest that BTC miners have adopted a bullish attitude during the week, and if they continue to accumulate rewards, we might witness further gains up to $40,000.

Secondly, Sources from IntoTheBlock shows the demand for Bitcoin has exceeded supply judging from the data available at the aggregate order books https://app.intotheblock.com/coin/BTC/deep-dive?group=exchanges&subgroup=order-books&chart=all. If this holds through then we expect the market for this week to remain bullish. However, there may be little contrary arguments.
A critical point to note is that everything being equal BTC price may likely defend the $33,500 - $34,500 zone and prevent bearish reversal.
I did my analysis on a weekly based and it may be subject to my bias. Feel free to contribute and possible show areas that are worthy to note.

[ImThour]

It will reach $40,000 for sure and will also follow a quick drop off to $32k which will act as support this time, instead of any resistance, so, in short, yes, Bitcoin is going to hold the Target prices and soon it will be breaking the previous All-Time High, right after Bitcoin Halving in 2024. If you have money available, you should focus on buying Bitcoin and HODLing as these prices will never be available again in the future.

[Odohu]

I was thinking that this topic belong to the speculation board. Anyways, $40k is not such a huge gap from where price is at present because I remember of recent when Bitcoin gained by over $5k in about 24 hours. With Bitcoin, nothing is impossible because the volatility is high.

I am actually projecting something close to the ATH or at least $45k before the end of the year. This is because next year's bull run may actually be more explosive than previous ones so thus year will set the stage.

While we are also looking at the price, let's endeavour to accumulate as much as we can as we approach the end of the year.

[rachael9385]

OP this discussion belong to the speculation board and not on Bitcoin discussion, please move the thread to the speculation board as soon as possible, here is a board based on Bitcoin discussion only and not talking about Bitcoin price price blah blah blah

[sokani]

It's good to see the price comfortably seating at 35k but I'm actually not perturbed by the price movement, though it helps to keep bitcoin enthusiasts excited and expectant of things to come but I'm more interested in acquiring and hodling more Bitcoin. We are not in the bull season and there's no need to get my hopes high. About hitting the $40k in November or December? Very likely, I think if any of the Bitcoin spot ETF gets listed, this is very feasible and we may even get to see $45k or $50k.

[cryptomaniac_xxx]

Will it Hold? BTC Targets $40,000

To be honest with you, we don't know if it will hold or maybe the best term is if we will touch based that price this November-December.

When you check the October 2023 Non-Farm Payroll data you will notice Without a doubt, the bulls continue to dominate the market as the Bitcoin price surged to a new annual high of $35,400. Given that Bitcoin miners control 10% of the total BTC in circulation, their trading actions have an impact on the BTC price.  Indicators presently suggest that BTC miners have adopted a bullish attitude during the week, and if they continue to accumulate rewards, we might witness further gains up to $40,000.

But in any case, there is a good thread to read about by @philipma1957, back in 2015 we had a nice pre 1/2 ing streak. He put some numbers in their based on the past historical logs, you might want to check it out. And see if it matches your prediction and others members.

And as you have said, we need to continue to accumulate, just to be ready for the next block halving and the bull run next year.

[STT]

It will reach $40,000 for sure and will also follow a quick drop off to $32k which will act as support this time..

40k as a peak could happen if we consider differing time frame influence.   A wave can advance as the tides retract, I believe on the widest time frame or sized bars for BTC on the chart we have resistance vs the 2022 area of trading for BTC.   Quite a few people were caught off guard by BTC even being possible to fall back into the teens, the volatility is always a surprise especially to new people but we should consider it normal in possibility.
  In that context a spike to 40k and also back to 30k would be volatile but possible, both prices would reflect differnt time frames.  No doubt near term we are bullish and overall people will always sell BTC and take profits, speculators have this nature to close a trade.
    We have traders in BTC now who also deal in corn or oil or anything, they switch and they go focus elsewhere as and when it suits them; dont assume loyalty from short term strength imo.

[Crypto Library]

Will it Hold? BTC Targets $40,000

Although the future market of Bitcoin cannot be said with 100% guarantee that the price will increase or decrease. But my question is here why the target is only 40k for bitcoin?
Still if I have to say I don't think it will touch 40k anytime soon as bitcoin halving is still some time away. Moreover, Bitcoin price recovery will start after the end of the halving season in my opinion. It is true that miners control 10% of Bitcoin's circulation, but I don't think there has been any situation yet that the market will be bullish and touch 40k due to the attitude of miners. I think that the current pump of Bitcoin is temporary. Maybe we will see Bitcoin price below 30k or around 30k again. So my suggestion would be to start holding for long-term without keeping 40k as target.

[Hamza2424]

When it comes to the 40k Bitoins's speculation, without any doubt I can say that yes maximum of us are highly Bullish, but from my sixth sense or you can say greed I'm expecting a good correction. I have some buying plans there but that is a decent scenario, the Market may not follow it.

A maximum of the traders and sentiments are indicating that the market will follow the journey till 40k to 45k, there's an in-between mode of consolidation in which the market will stay on a tight range for a decent time. TBH the first week is not following my predictions and if the 2nd week goes against the scenario of correction then I'll be expecting a breakout of the range.

[gunhell16]

Bitcoin will truly reach a price of $40,000 per coin. If you truly want to keep an eye on it, dude, you can look at what's going on in FOMC trading or DXY and conduct your technical analysis there if you're familiar with market movements.

But practically everyone in the bitcoin industry understands that the market is unpredictable and that even specialists can't make accurate predictions because their data is based on their beliefs about where the market will go. Actually, of the Bitcoin price.

[LogitechMouse]

Re: Will it Hold? BTC Targets $40,000

Well, that's my initial prediction.
I predict that Bitcoin will reach as high as $40,000 this year, and even as high as $45,000 though this is just me being too optimistic with Bitcoin a few months before the halving happens.

One big news, and it might push it's price even higher. That's what I'm thinking right now. We didn't even know that the "TICKER SYMBOL" thing will happen, and it pushed it's price upwards. I don't know what can cause Bitcoin to reach $40,000 right now, but maybe something ETF related might do it. Overall, this is just a prediction, and we can't predict the market with 100% accuracy.

Just continue on what you're doing. If you're doing DCA, continue doing it. If you want to buy at once, do it. If you are just waiting for the bull run to happen so you can sell your assets, do it. As for me, I'm just waiting for the bull run to happen so I can sell all of my assets already.

[Dave1]

When it comes to the 40k Bitoins's speculation, without any doubt I can say that yes maximum of us are highly Bullish, but from my sixth sense or you can say greed I'm expecting a good correction. I have some buying plans there but that is a decent scenario, the Market may not follow it.

A maximum of the traders and sentiments are indicating that the market will follow the journey till 40k to 45k, there's an in-between mode of consolidation in which the market will stay on a tight range for a decent time. TBH the first week is not following my predictions and if the 2nd week goes against the scenario of correction then I'll be expecting a breakout of the range.

I think first if we wanted to get to $40k, we need to overcome the current mental barrier which is $35k. And it seems just like any other resistance, it seems to be very difficult for now to breach it unless we have significant good and positive news in the market.

So for now, it's hard to say at least that we will go to $40k.

We might be seeing another sideways patterns that we are more familiar with as we have it in the last 6 months or so.

[Fundamentals Of]

I can see that $35,000 is strong. The price goes down a bit and then comes back to it, surpasses it a bit and then comes down again. There's like a volleyball happening and $35,000 is the net. The price could fall down and lose $35,000 for a while but nothing would be too deep that it would become a difficult target once again. Having said this I think $40,000 is within reach within this year. There's just so much to hope for in the near future. I cannot see a reason why people should be bearish.

[kentrolla]

$40,000 is definitely achievable and I am sure we will even reach somewhere near $45,000 and most of us are predicting similar with our own way of analysis but there will be a correction phase as well and not sure whether it will be $30,000 or even less than that and anything less than $20,000 is not a good sign for us. Whenever there is a pump or bull run Bitcoin is over bought and it retracts back which we consider correction phase and often people misunderstand this as start of bearish market and start selling without doing any research as such sort of fear is created at that point of time as a result more than corrective phase it's the users like you and me dumping the coin which pull Bitcoin further down and makes it look lik bear run. If we are able to manage this phase smartly without dumping then we will have an extended green days.

[yhiaali3]

Yes, we expect the market to remain bullish this week. Bitcoin may continue to rise from here to achieve the main target for the middle of the large wave between 37,000$-40,000$, either with a continuous rise from here or with a small correction and then rise.

Many positive indicators in the market suggest a continuation of the rise and we hope to see large numbers from here until the end of the year, of course with continued optimism that we will see a new peak after halving, so yes, holding is the best strategy at the present time.

[BALIK]

Will it Hold? BTC Targets $40,000

I believe the $40k target this year is achievable but bitcoin will not go from $35k to $40k without any correction. We have grown quite a bit in the past few weeks without any correction, and I think it is time to pull back before conquering new growth levels. I predict a correction to occur mid-November through the end of the month and we will start rising again in December. I'm waiting for bitcoin to correct to the $32k area so I can accumulate a little more bitcoin for myself.

[adaseb]

If we get word that the etf is approved then I will most likely head to $40K. But after that it matters when it’s finally listed on the stock market.

Usually events like this are sell the news. The product goes live and it marks the top. Happened with the futures etf, then coinbase listing and later the stock market futures etf.

[Text]

I agree that it is likely to continue its bullish momentum this week, the demand is exceeding supply for positive signs. The weekly RSI is above 70, which indicates that Bitcoin is overbought. This could lead to a short-term correction, but the overall trend remains bullish. The MACD is crossing above the signal line, which is another bullish signal. The 200-week moving average is at $31,500, which is a key support level. I think that Bitcoin is well-positioned to continue its rally towards $40,000 in the coming weeks. However, it is important to be aware of the potential for a short-term correction, especially if the RSI gets too overbought.

[justdimin]

$40,000 is definitely achievable and I am sure we will even reach somewhere near $45,000 and most of us are predicting similar with our own way of analysis but there will be a correction phase as well and not sure whether it will be $30,000 or even less than that and anything less than $20,000 is not a good sign for us. Whenever there is a pump or bull run Bitcoin is over bought and it retracts back which we consider correction phase and often people misunderstand this as start of bearish market and start selling without doing any research as such sort of fear is created at that point of time as a result more than corrective phase it's the users like you and me dumping the coin which pull Bitcoin further down and makes it look lik bear run. If we are able to manage this phase smartly without dumping then we will have an extended green days.

I'll say " possible " but not "definitely" because that word sounds like " guarantee " but we all know that everything is possible or can happen in the crypto market. What if the rise that we are feeling now won't continue? Or it will go down for a while? Keep in mind that we are still far from $40k.

I think not many people are predicting $40K-$45K, but $34k-$35k - yes. If higher than it, that will be $100k but they assume this to occur next year due to the situation we are having right now and then we only have a small time left. If BTC is over bought, that should lift the price more, not to go down or for us to experience a correction although people can also sell which results for that.

[michellee]

Sooner or later, Bitcoin price will surely reach $40k and rise even higher. It was only a matter of time for Bitcoin to rise again. And sooner or later, we're bound to see $40k and higher.

We have to remain patient in waiting for the price target we want. And when we see it later, it's better not to be greedy in taking advantage of it. Taking profits as soon as it reach the price we want will be better than waiting for a higher price that may not be reached then.

Currently, the Bitcoin price is still experiencing a correction and this will continue until the end of this week. But hopefully, it's wrong so the price can reverse direction and increase again to a higher price. People also still wait from time to time and they are still patient. So it's better to use this correction time to increase the number of Bitcoins again.