Will BTC go back to $40K - $30K range before a bigger rally?

[armanda90]

Currently bitcoin price got many correction but price keep stable above $60k in this week, I think little difficult for dropping around $40k to $30k or get drop almost 50% for bitcoin with currently price. Halving have been over and many investor although not really excited for holding their bitcoin before halving time I think bitcoin will not drop drastically, usually bitcoin has good moment one or two months later after halving will get recovery to higher price.
I doubt with this possibility bitcoin will drop around 40% to 50% based on OP speculation, bitcoin holder still strong indeed get many bad news every day and many investor try to buy back during good moment after bitcoin get down few percent. Optimist with bitcoin will bounce again to higher price and reach back to $70k or possibility make new ATH in near future.

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[Falconer]

Currently bitcoin price got many correction but price keep stable above $60k in this week, I think little difficult for dropping around $40k to $30k or get drop almost 50% for bitcoin with currently price. Halving have been over and many investor although not really excited for holding their bitcoin before halving time I think bitcoin will not drop drastically, usually bitcoin has good moment one or two months later after halving will get recovery to higher price.
I doubt with this possibility bitcoin will drop around 40% to 50% based on OP speculation, bitcoin holder still strong indeed get many bad news every day and many investor try to buy back during good moment after bitcoin get down few percent. Optimist with bitcoin will bounce again to higher price and reach back to $70k or possibility make new ATH in near future.

Bitcoin lost more than 10% of its price in the last 30 days, while in the last 7 days it lost more than 8% of its value. This indicates a higher sell-off where the price corrected, but of course I would consider it just short-term volatility.

I don't think bitcoin prices will drop as low as $40k again this year. Prices tend to be expected to rise higher as demand increases, but small corrections are always possible and will certainly be very difficult to avoid. Even if bitcoin were to test a lower support level, then there should be a good reason why that would happen. I don't see any good reason at the moment to predict the price dropping to $40k or lower, it's possible but very hard to imagine.

[uneng]

I don't think bitcoin prices will drop as low as $40k again this year. Prices tend to be expected to rise higher as demand increases, but small corrections are always possible and will certainly be very difficult to avoid. Even if bitcoin were to test a lower support level, then there should be a good reason why that would happen. I don't see any good reason at the moment to predict the price dropping to $40k or lower, it's possible but very hard to imagine.

Probably Bitcoin isn't going to head to 40,000$ before the next big rally. The news today are pretty good for Bitcoin, what influenced its price to go back to 59,000$, almost reaching 60,000$ once again. MicroStrategy has announced another recent investment batch in Bitcoin, having acquired 25,250BTC in the first trimester of 2024.

Moreover, BlackRock Sees Sovereign Wealth Funds, Pensions Coming to Bitcoin ETFs. It means there is more money coming into BTC market soon, what can push the price to a new ATH, added to the fact it will be also useful to increase the optimism among other investors.

There are other stories of whales acquiring more coins these days as well: ‘Mr. 100’ buys the Bitcoin dip for the first time since halving — Is the BTC bottom in?

As we have been saying a lot lately, it was just a matter of time until those whales took advantage of the recent crashes in Bitcoin market to accumulate more coins for a cheap price, before the final big rally begun. Investors shouldn't do anything besides holding and waiting for the right time, although I believe some of them didn't resist and ended selling their holdings for fear of a deeper crash in crypto market.

[Russlenat]

Currently bitcoin price got many correction but price keep stable above $60k in this week, I think little difficult for dropping around $40k to $30k or get drop almost 50% for bitcoin with currently price. Halving have been over and many investor although not really excited for holding their bitcoin before halving time I think bitcoin will not drop drastically, usually bitcoin has good moment one or two months later after halving will get recovery to higher price.
I doubt with this possibility bitcoin will drop around 40% to 50% based on OP speculation, bitcoin holder still strong indeed get many bad news every day and many investor try to buy back during good moment after bitcoin get down few percent. Optimist with bitcoin will bounce again to higher price and reach back to $70k or possibility make new ATH in near future.

I have also this feeling that bitcoin will not reach again the range of $40k or  below. Although the price correction won’t stop here, but most likely it will be at $50k range and then rise up again to $60k until it slowly move upward and touch $70k again. This is not new anymore especially that we are now at post halving, price may drop drastically but eventually it will recover afterwards. As long as we don’t end up with panic selling, then we aren’t still at loss. Patience will be highly tested these days so let’s be tough and strong during these days.

[2Pizza410000BTC]

Based on the pattern on the chart, it seems like Bitcoin is going to correct itself but to what extent, no one knows.

We can clearly see that BTC hasn't been able to cross its previous highs after each dip recently which indicates that there is a bearish momentum going on.

So can we expect a major correction or it's going to go up again and reach $80K before halving?

Let's discuss.

Regards
SK

Yes we have seen, bitcoin market corrected but upto 74 thousand dollar maximum. When the market reached $74,000, we knew very well that the Bitcoin market would reach $80,000 before the Bitcoin halving, but instead, the market began to decline. Currently the market is close to 50 thousand dollars.  However, many are predicting that the Bitcoin market may fall below 40,000. However, given the volatility of the Bitcoin market, it is not possible to make a good prediction at the moment, but I still predict that the Bitcoin market may not fall below $50,000. It is also estimated that the Bitcoin market will grow by 2024 and reach a peak and all-time high price of $100,000. But currently the market is in a position to invest, those who have not invested can invest because they may not get such an opportunity.

[X-ray]

I have also this feeling that bitcoin will not reach again the range of $40k or  below. Although the price correction won’t stop here, but most likely it will be at $50k range and then rise up again to $60k until it slowly move upward and touch $70k again. This is not new anymore especially that we are now at post halving, price may drop drastically but eventually it will recover afterwards. As long as we don’t end up with panic selling, then we aren’t still at loss. Patience will be highly tested these days so let’s be tough and strong during these days.

I will be more surprised if bitcoin go below $40k again, considering hongkong ETF, now australia ETF, i don't think its not gonna go down that much. otherwise it will be disaster, also due to easiness of investing these days many investors easily buy bitcoin whenever it dips like recently it dipped to below $60k, now it is recovering back to $60k, the market is strong even with all the whales dumping other people gonna buy it.
bitcoin is the trend, after the news of hongkong ETF other country will also approve the ETF its matter of until other country start following then entire world wide will just follow the path because some countries are too afraid to have new things
even more apparent when its investment where people are putitng money on these, but be assured that bitcoin will eventually get massive acceptance across the world.
that day even seeing bitcoin sub $100k might be impossible.
even right now there are many altcoins trying to get approval of ETF as well, crypto market will have huge market cap by then.

[QueenSk]

From what you said, I guess you haven't bought any bitcoin since March and are still waiting for bitcoin to drop more. But I want to ask you, will you definitely buy if bitcoin drops to $40k in the near future? Or will you continue to think that bitcoin will fall even more when bitcoin drops to $40k and will you only buy if bitcoin drops to $20k? This is not new to those who like to bargain with the market and those who always say they wait for bitcoin to correct before buying, most of those people will never buy bitcoin. They will never buy bitcoin when it corrects, but when bitcoin bounces and goes higher, they will definitely rush in to buy at high prices without thinking.

Thank you very much for your valuable reply. For your information, let me tell you that I bought Bitcoin at the time when Bitcoin was at $16,000 and of course,  the bitcoin bought at that time haven't been sold yet because for me, Bitcoin is not a daily profit and loss asset, but for me, Bitcoin is a future investment that I would like to hold for another four to five years.

However it is very important to know that BTC will go down further or up from here, so I always like to get opinion from senior people like you that's why I ask and the more one asks the more one learns there is nothing wrong with that, in my opinion.

[Riginac111]

Based on the pattern on the chart, it seems like Bitcoin is going to correct itself but to what extent, no one knows.

We can clearly see that BTC hasn't been able to cross its previous highs after each dip recently which indicates that there is a bearish momentum going on.

So can we expect a major correction or it's going to go up again and reach $80K before halving?

Let's discuss.

Regards
SK

No wise person has yet made an accurate guess about the price of Bitcoin. So it is impossible to say exactly which direction Bitcoin will move. As we are very close to Bitcoin Halving, we will go through Bitcoin Halving in just a few days. So it is more likely that the Bitcoin price will remain in the normal range so that investors can get out and invest

most of the person that make a prediction for the price of Bitcoin they are just speculating they are just guessing because if they are not guessing I think they would have invested much in Bitcoin knowing that time they will make a mega profit for cryptocurrency investment mostly Bitcoin so that is why we need to understand the procedures of Bitcoin, so I don't know for others who make their own prediction of Bitcoin

[Bravut]

No, I don't see Bitcoin dip to $40K - $30K range before any price rally, currently price might  pump a little before dropping to $50k. Then I can anticipate a pump though we can't really predict for now, we just accumulate more and allow the market do it thing. But price will not dip to that range OP.

[Kemarit]

No, I don't see Bitcoin dip to $40K - $30K range before any price rally, currently price might  pump a little before dropping to $50k. Then I can anticipate a pump though we can't really predict for now, we just accumulate more and allow the market do it thing. But price will not dip to that range OP.

Lowest we got is $57,000 if I'm not mistaken. Now the market has bounce back to $63,000-$64,000, and with that, I think that we might be on for something big with this kind of movement specially right after the halving.

But for me, sometimes it's good to see that even in a bull run, price will have to go down and then as traders, it's up to us whether we get nervous push the panic button or decided to be a diamond hand, just continue to buy and accumulate and HODL, it's our choice.

[dunfida]

No, I don't see Bitcoin dip to $40K - $30K range before any price rally, currently price might  pump a little before dropping to $50k. Then I can anticipate a pump though we can't really predict for now, we just accumulate more and allow the market do it thing. But price will not dip to that range OP.

Lowest we got is $57,000 if I'm not mistaken. Now the market has bounce back to $63,000-$64,000, and with that, I think that we might be on for something big with this kind of movement specially right after the halving.

But for me, sometimes it's good to see that even in a bull run, price will have to go down and then as traders, it's up to us whether we get nervous push the panic button or decided to be a diamond hand, just continue to buy and accumulate and HODL, it's our choice.

Really hard to tell whether that $57k is already the bottom before we would really be shooting up on price on which we know that it is really that hard to predict as always on what price would really be at the bottom or not.
MArket sentiments and history would really be something that would really be checked every now and then on which we would really be tending to make out some comparison on which its a common approach that we do have.People who had been saying about those 30-40k ranges are the ones who had been hopeful that they would be able to enter with those dips or price entry. Those arent that just an empty guess but rather its been an analysis that they had been able to drawn out when using up those technicals but of course we do know that TA's arent that precise.

For those who had been that anticipating that there would be drop then they could really be that right or wrong. We are all speculators on this market after all.
Whether we would be having that bearish or bullish approach then there's no one could be able to hit up the right spot.

[STT]

A return to a lower range is my thinking not in absolute certainty but possibility and fear of this exists in the price right now.   Immediately we have a bullish potential scenario to play out but if that should fail and also we break out the range or rectangle the BTC price action has been in for months then yes the trajectory is downwards for sure.


Here at 60k is your trigger point for a negative conclusion.  Its not like a gun going off but more like a fuse, if we cross 60k and nobody puts out that fuse just by time we will correct downwards.  The reasoning would be multiple on many points but mostly you can conclude over much time we had resolved downwards.  52k is the first Fibonacci level after 60k as a downside target price point.