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

[Freddie Boyer]

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.

It's great to hear that. keep saving friends. soon the BTC song will reach 80K

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.

Don't think that the news about everything decreasing is just for a moment, friends, if necessary, increase the load again. You are one of the luckiest people, where many people are always updated and there are no predictions of ownership prices at all. keep holding on bro.

[GigaBit]

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

After a bullish trend the Bitcoin price may turn slightly downwards which we call a price correction. But that correction must be within a range. If it goes down further from the current bitcoin price I would expect it to go down to 50K but if someone expects more than that I would disagree. Because the market is not yet completely bullish. As we expect to be bullish at this point there is no chance of going that dip at that point. If one waits to buy then one must buy bitcoins between 60k and 70k. This is definitely not the time for those envisioning a major dip. When it comes to Bitcoin price speculation, there is no point in speculating what you want but we should not do any speculation that is not realistic.

[Lidger]

This happens regularly in the market, so it is not unusual to happen, but the way the market is currently moving, it seems that the market will not come down as much as you predicted. There is enough support in the market and depending on that support, the market is trying to break the resistances and move upwards. But this condition of the market has happened in a short period of time so now it is normal to have some dumping in the market but the amount of dumping that you mentioned may not happen this season. From what I understand about the chart of the market, I think that the market can dump a little from this situation and pump again in a big way. Every investor is probably expecting Bitcoin price to touch $100k within this year and I am expecting the same.

[khiholangkang]

This happens regularly in the market, so it is not unusual to happen, but the way the market is currently moving, it seems that the market will not come down as much as you predicted. There is enough support in the market and depending on that support, the market is trying to break the resistances and move upwards. But this condition of the market has happened in a short period of time so now it is normal to have some dumping in the market but the amount of dumping that you mentioned may not happen this season. From what I understand about the chart of the market, I think that the market can dump a little from this situation and pump again in a big way. Every investor is probably expecting Bitcoin price to touch $100k within this year and I am expecting the same.

I agree about bitcoin will not reach the $30k-$40K level again until 2025, because currently the holding trend is much better than what we predicted, and don't forget that a lot of institutions continue to accumulate bitcoin to this day, they are buying gradually and continuously so it is very difficult to reach the $40k price level when everyone is racing to collect more bitcoin.

But to the $50k level it is still quite possible because we need to do a retest, but in the previous momentum when bitcoin touched that area then turned back and now to the $69k level again, bitcoin has always been excellent and we will see $100k if the activity of bitcoin buyers is like this.

[Mehedi72]

It was supposed to be but not happened anything lol. Bitcoin didn't give its investor another change to buy it from dip. And Bitcoin do oump rather then dump. Although it was down below $60k but that too much high if you compare it with expected price of $30k to $40k. Maybe That's because after ETFs approval, big companies keep buying Bitcoin and they tried their best to keep buying Bitcoin for have control on it. And we can see still Bitcoin is so high.

[STT]

I'll give a second opinion on this as we come to the end of the week.  I never try to be absolute in my reckoning, we should discover the truth as each possibility comes into focus and we cannot possibly see everything with perfect clarity.

The reason why OP lower range is not likely to happen is clearer on weekly bars.  The initial rise of 2021 the great surge that was sold to some extent and the closing weekly bars for the start of 2021 was about 58k.   That was the line that held us is my summary for that period and also its a Fibonacci line from the old ATH

 BTC is long term so I will regard 2021 as relevant now quite easily.   The graph shows us only barely touching that prior area of 58k, not for long at all.  A recent candle spiked down to that level and quickly recovered.  It did look bearish at that time but has held well since, I think the bias going forward has to be positive.  

We are stuck in a range but with positive bias we have to be looking for ways BTC will break out upwards and then fight to hold that area for a continuation.   I do believe there is less evidence for the opposite take, but I will keep double checking.

[Lidger]

This happens regularly in the market, so it is not unusual to happen, but the way the market is currently moving, it seems that the market will not come down as much as you predicted. There is enough support in the market and depending on that support, the market is trying to break the resistances and move upwards. But this condition of the market has happened in a short period of time so now it is normal to have some dumping in the market but the amount of dumping that you mentioned may not happen this season. From what I understand about the chart of the market, I think that the market can dump a little from this situation and pump again in a big way. Every investor is probably expecting Bitcoin price to touch $100k within this year and I am expecting the same.

I agree about bitcoin will not reach the $30k-$40K level again until 2025, because currently the holding trend is much better than what we predicted, and don't forget that a lot of institutions continue to accumulate bitcoin to this day, they are buying gradually and continuously so it is very difficult to reach the $40k price level when everyone is racing to collect more bitcoin.

But to the $50k level it is still quite possible because we need to do a retest, but in the previous momentum when bitcoin touched that area then turned back and now to the $69k level again, bitcoin has always been excellent and we will see $100k if the activity of bitcoin buyers is like this.

It is definitely a positive aspect for investors that investors can now have maximum confidence in their investments and by having maximum confidence in their investments they are holding their investments for a long period of time. When Bitcoin hit a new milestone in 2024 breaking all its previous records, we saw most investors saying that even if the peak price was reached, they would not sell their investments and they would hold their investments for a longer period of time. If the market has more buys than sells and the buys are held then the price of Bitcoin will continue to rise slowly. With this expectation many investors are making new investments and they are holding the investment for a long time in the hope of profit.

[sotelorene]

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

From your topic or title to me I don't think Bitcoin is going to depreciate to $30k-$40k though one of its characteristics is rise and fall that is volatile in nature however I am not saying for sure that it can't depreciate to that amount but with what we are seeing most people has this believe that Bitcoin will soon appreciate to $80k or maybe $100k before this year run's out or early next year but that is more like an high expectation from Bitcoin. Morever, hitting $80k - $100k is not certain we are just predicting based on the surprised behavior it has shown for some months now which gave the thought that it will hit that amount.

[Woodie]

Let's just say with Bitcoin anything is possible and we can't write off this possibility!
And based on what I have seen in the past, the Bitcoin market can "easily "shade off 20-30K in one week and following week it will be gaining $40K which isn't explainable , but I expect it to have a strong hand at the moment with the entering of institutional money which should keep afloat these lows..and with the ATH just around the corner...should we break this ATH then a new barrier will be created to keep us away from the 30s but failing to do so means bear's 🐻 entering the markets to sell and this would mean markets going red 🛑📉 just hope not to the lows of $30K!

But on the bright side, to build momentum to the upwards we need to sell for panic buying to take place when other investors find a suitable buying price when price dips lower...for now BTC price is at a premium.

[Dave1]

It was supposed to be but not happened anything lol. Bitcoin didn't give its investor another change to buy it from dip. And Bitcoin do oump rather then dump. Although it was down below $60k but that too much high if you compare it with expected price of $30k to $40k. Maybe That's because after ETFs approval, big companies keep buying Bitcoin and they tried their best to keep buying Bitcoin for have control on it. And we can see still Bitcoin is so high.

I guess may take that opportunity to buy at $57k rather than waiting for it to gown even further. And with that, we didn't see the range of $30k-$40k as what OP has suggested. Forget about the ETF though, I mean it's already approved and many whales and institutions are already buying.

What's important is the retail, the majority of us, average joe investors who really have to grind and to DCA because we don't have deep pockets to purchase Bitcoin. But we keep pushing ourselves to accumulate and then wait till we see a new all time high before we can sell and make a profit.

[Essential10]

It was supposed to be but not happened anything lol. Bitcoin didn't give its investor another change to buy it from dip. And Bitcoin do oump rather then dump. Although it was down below $60k but that too much high if you compare it with expected price of $30k to $40k. Maybe That's because after ETFs approval, big companies keep buying Bitcoin and they tried their best to keep buying Bitcoin for have control on it. And we can see still Bitcoin is so high.

Many people predicted the direction of Bitcoin's momentum but it ended up being the opposite. Since the ETF approval in January, Bitcoin has been on the rise since it crossed $73k. There was even speculation surrounding the Bitcoin halving, with many thinking it would lead to a major correction that could range from $40k to $30k. Even the price of Bitcoin has been down for a weeks and the price is coming back to the next weeks, I don't think Bitcoin is ready to go down any further.

[Felicity_Tide]

It was supposed to be but not happened anything lol. Bitcoin didn't give its investor another change to buy it from dip. And Bitcoin do oump rather then dump. Although it was down below $60k but that too much high if you compare it with expected price of $30k to $40k. Maybe That's because after ETFs approval, big companies keep buying Bitcoin and they tried their best to keep buying Bitcoin for have control on it. And we can see still Bitcoin is so high.

Many people predicted the direction of Bitcoin's momentum but it ended up being the opposite. Since the ETF approval in January, Bitcoin has been on the rise since it crossed $73k. There was even speculation surrounding the Bitcoin halving, with many thinking it would lead to a major correction that could range from $40k to $30k. Even the price of Bitcoin has been down for a weeks and the price is coming back to the next weeks, I don't think Bitcoin is ready to go down any further.

Personally, I don't see Bitcoin going back to $30K to $40K. Even with the last correction, I think the minimum price was around $58-59K. The spot Bitcoin ETF approval brought a massive impact to Bitcoin price which even reduced the anticipation of halving. Sometime last two weeks, we also experience a surge that was close to the ATH, I think around $71-$72K if I remember correctly. I see predictions as just ways of using previous events for future analysis. The ETF approval has already change how things work, which makes some predictions wrong.

[Crypto5060]

Absolutely! The halving event is a significant milestone in Bitcoin's cycle, and it has historically led to increased prices and market excitement. With the next halving scheduled for 2024, I think it will play a crucial role in shaping BTC's price trajectory. The reduced supply of new coins entering the market, combined with sustained demand, could lead to a supply squeeze and upward pressure on prices. Of course, there are many other factors at play, but I believe the halving will be a key catalyst for the next major rally."

[moneystery]

After a bullish trend the Bitcoin price may turn slightly downwards which we call a price correction. But that correction must be within a range. If it goes down further from the current bitcoin price I would expect it to go down to 50K but if someone expects more than that I would disagree. Because the market is not yet completely bullish. As we expect to be bullish at this point there is no chance of going that dip at that point. If one waits to buy then one must buy bitcoins between 60k and 70k. This is definitely not the time for those envisioning a major dip. When it comes to Bitcoin price speculation, there is no point in speculating what you want but we should not do any speculation that is not realistic.

if bitcoin corrects to 50k it is a pretty deep correction and only truly shocking news could possibly make this come true. because in my estimation, the normal correction that might occur will only reduce bitcoin to 60k-57k and that is already quite severe, further corrections will probably have a very significant impact not only on the bitcoin market but also the crypto market as a whole.

[Mahanton]

After a bullish trend the Bitcoin price may turn slightly downwards which we call a price correction. But that correction must be within a range. If it goes down further from the current bitcoin price I would expect it to go down to 50K but if someone expects more than that I would disagree. Because the market is not yet completely bullish. As we expect to be bullish at this point there is no chance of going that dip at that point. If one waits to buy then one must buy bitcoins between 60k and 70k. This is definitely not the time for those envisioning a major dip. When it comes to Bitcoin price speculation, there is no point in speculating what you want but we should not do any speculation that is not realistic.

if bitcoin corrects to 50k it is a pretty deep correction and only truly shocking news could possibly make this come true. because in my estimation, the normal correction that might occur will only reduce bitcoin to 60k-57k and that is already quite severe, further corrections will probably have a very significant impact not only on the bitcoin market but also the crypto market as a whole.

50k wont really be that too deep on which i would really be considering dip if the price would really be hitting rock bottom at 38k but well this is something that cant be possibly happen but since we arent still there yet with that significant deep correction on which lots of people been anticipating for it to happen then there's no way that we could really be able to neglect that it could potentially happen basing up on what the history that happened in the past on which we cant really be able to blame out someone on why they are really that expecting something like this. Although it would really be better to have those kind of corrections for us to have that last accumulation before this market would really be shooting up into the moon. So far there are no sentiments that could really be affecting out the current price movement.

Always anticipate that there would might be some sudden fundamentals on which it could really be causing up that potential movement that we do have in the market.
This is why it would really be always wise that you should really know on what you should really be doing on times like these.

[Ndabagi01]

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

Bitcoin taking correction to as low as 40-30K range looks practically impossible, not that one can predict the market but with everything putting into consideration, you know that is a price that bitcoin is not going to test now again until after the bull run has taken place and the market is going back to its bearish seasons.

Before this massive hike in price, remember that bitcoin all time high was about 60K+ after the last bitcoin cycle and during its bearish period, it went down to at most 20K+ which signifies how bitcoin can also lost its value over time before regaining it back. So we’ll be expecting another bearish cycle but I do no think it will go less as the amount it was during the last bearish cycle after the 2020 halving and subsequent bull run in 2021.

[batang_bitcoin]

if bitcoin corrects to 50k it is a pretty deep correction and only truly shocking news could possibly make this come true.

With or without shocking news, it can happen.

because in my estimation, the normal correction that might occur will only reduce bitcoin to 60k-57k and that is already quite severe, further corrections will probably have a very significant impact not only on the bitcoin market but also the crypto market as a whole.

It did happen last month and that had stayed there for how many weeks, IIRC. But even if there will be a correction on this potential bull run, back to $30k. That won't matter at all. Everyone is going to rush to purchase at that price range because we all knew that the price would pump a lot because of institutions and halving.

[Tahid12]

if bitcoin corrects to 50k it is a pretty deep correction and only truly shocking news could possibly make this come true.

With or without shocking news, it can happen.

that's true and many investors expecting that to be happened including me, cause it is very long time and after the Approval of Bitcoin ETFs, it didn't dump any expected deep even disappointed many investors who were waiting to buy it during halving. It dumped a little but recovered so fast cause people rush to buy it as they knew that it'll be expensive. And bitcoin is still bullish and following the up trend. What still makes me confused.