BITCOIN AT 63K. What should we expect moving forward?

[Iamcrypticguy]

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

[pooya87]

Is the retracment over?

It has always been impossible to accurately predict the market movements. For example it was expected to see a drop after the halving hype ended but I personally never expected a crash all the way down to $56.5k.
Is it over? Possibly, since over the past 3 days we've been seeing a reversal and setting green candles.

Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

Dead cat bounce requires bitcoin to have died and be in a bear market where price continues going down over the long haul. This was just a correction after the halving hype big-rise.

If you zoom out and watch the chart over the past 5 months you can see we have been on the rise (starting from ~$38k) and we are heading to $70k again to test that resistance for the 4th time. However, this time it is not just halving hype that is the driving force, it is the halving itself (the fresh supply that was reduced by 50%) that lowered the supply and reduced the sell pressure.

[God bless u]

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

Don't just go with the market or you'll lose all your assets. It's true that BTC has given so much profits into the previous bull run but it not the case always. You have to look into this real world that everyone one here is to make the profits so it will not be you always who'll make profits.

Just be careful while investing into the crypto world as the big investors can manipulate the market everytime they want to make them good profits.

[alankasman]

Is the retracment over?

$62,839 weekend open price. The problem is that it is almost impossible to predict the direction of the market accurately.
$63k is also still not completely a price that will last even though the market has been showing a green graph since yesterday.

Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

A new ATH will happen and that's for sure. Again, we are not sure whether it will happen this month or next month or in 2025.
For holders, a certainty regarding the new ATH will be obtained even though I once had a thought that said a new ATH would occur next year.

Oh yeah. Just move this discussion topic to the speculation board.

[TravelMug]

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

We don't know if the retracement is over for now, but I do agree that it's good to see the price goes back to $63k after a dump to $57k. But that's how the market is, very volatile and most of the time when we expect that it will go on this path, suddenly it goes on the opposite direction. And maybe after 2 weeks from the block halving, we might have seen the glimpse of what the movement will be in the future. So yeah, we should be glad to see that it has bounce back, and hopefully during the time that it went down, majority here could have accumulate and take that opportunity to stash some Bitcoin at $57k'ish.

[Z390]

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

Don't just go with the market or you'll lose all your assets. It's true that BTC has given so much profits into the previous bull run but it not the case always. You have to look into this real world that everyone one here is to make the profits so it will not be you always who'll make profits.

Just be careful while investing into the crypto world as the big investors can manipulate the market everytime they want to make them good profits.

How?

Can you tell me how this person will lose all his assets because he go with the market? He is in Bitcoin, he will never lose anything until he decides to sell for a loss, some people bought the top in 2021 and they are still here today, holding, it is Bitcoin and it doesn't matter, Bitcoin will always be here to stay.
OP all I can tell you is to have patience, everyone keeps saying things will be different this time but so far Bitcoin is doing the same thing it did in the last cycles, all you want is some good gains just like me, it will take time, for now do not believe what the news is saying, in fact stop reading them, just wait for a new ATH and take profit.
I as a person have nothing to lose, I have most of my money in Bitcoin as I plan to make it my Bank account instead, the reason why most people panic about Bitcoin price action is the source of the money they invested, most of them can't see that money shrinked in value, you will be fine if you invest only what you can afford to lose..

[2Pizza410000BTC]

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

It is very difficult whether the market will go up or down from the current position of the Bitcoin market. We have been seeing volatility in the Bitcoin market for quite some time now. We see Bitcoin markets ranging from $67k to $60k and $60k to $56k. Since we have completed the bitcoin halving and are slowly heading towards a bull market, I can predict that the market will gradually move upwards. Many predict that Bitcoin will be in the $100,000 range in 2024, so we can say that the market can go up from here.

[tabas]

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over?

You'll never know if the retracement is over or there will be some barrier that needs to be broken to say that the retracement is over. This is going to be a long overhaul for Bitcoin and everyone who's been on this market are patient to wait for that push that we're all waiting for. Give it time and react accordingly whether you're a seller or a buyer.

Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

We don't know, it's always like this. It's speculative and everyone opinion that has some good backup analysis will convince you that it might create another ATH for this year or a dead cat bounce or any kind of analysis. But one thing is that we're all looking forward, and that's to see a new ATH.

[Ambatman]

Don't just go with the market or you'll lose all your assets

Except future trading,  you can never loss your asset due to a massive decline even one of -99%
What falls is the value of the asset not the quantity you have.


The good thing is Bitcoin covered the previous gap around $59K and has entered a bullish momentum in the one month chart
As long as it holds the circled portion ($56K)
We should be seeing a New ATH this month
This applies when you keep fundamental analysis constant though.
We can never accurately tell the future just speculate, so anything can happen
A news can change the direction.

I stopped accumulating around ever since
Waiting for some retracement and helped myself with some around the $57K range and I can assure you
Not regretting it and believe in this month.
The cost of mining a Bitcoin has increased to around $53K according to coindesk.

However, this time it is not just halving hype that is the driving force, it is the halving itself (the fresh supply that was reduced by 50%) that lowered the supply and reduced the sell pressure.

We now have fewer sellers than buyers
I think I read some miners are switching into AI's since their returns can't mitigate their expenses.
We go closer to oligopoly as years go by.

[Nrcewker]

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

I would say we are still in the price correction phase. Hence if you are planning to sell or buy then you need to observe for a bit now. You need to understand that why this sudden rise and fall happen in the price of Bitcoin. This happens due to the traders increasing the demand to accumulate the coins. Due to the limited and fixed supply of Bitcoins, the price goes up when more buy orders are placed all over all the exchanges. Similarly the reverse also happens when more sell orders are placed. So if you are planning to buy, then buy the coins. These price ups and downs will be common for certain period of time now.

[m2017]

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

Such an impressive rebound from $53k to $63k clearly indicates that BTC-investors are inclined to buy this asset rather than sell, which is a good signal that bitcoin will not fall further. There were more people who retained sober thinking and didn't succumb to panic and bought cheaper BTC, which in turn kept it above the psychological level of $50k. I assume that the price will hang around at the current level with a slight gradual increase. I don’t think that the price will collapse again, but we will certainly see ATH, but not in the coming weeks (month), but later.

Move this topic to the "Speculation" section please.

[headingnorth]

The biggest problem is Grayscale which still has around 300K bitcoins left.

When they run out of BTC to sell the price can really start to take off again.      

[Marvell1]

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

Bitcoin is very unpredictable, so no one will be able to answer your question. Do your own research and make your own decisions instead of relying on other people's predictions because predictions are just predictions, there are no guarantees.

I can only tell you that the recent recovery can be attributed to the impact of the employment and unemployment index news released yesterday.
All predictions of a rate cut are becoming more positive as the unemployment index rises and that is why we see the entire financial market being positive since the news was released. But what will happen next no one knows, this may or may not be a trap.

[pinggoki]

I guess that the price drop was a trampoline of some sort for the price to go up even higher but I'm still too early to be talking about that though as it's still not that high, it's like the market has just recovered. To be honest though, in terms of expectations, probably lower it or expect the unexpected, being ready for all the things that might happen is the best thing to do, if the price drops again, be ready to buy more bitcoin than usual, if the price pumps then wait for it or take a little bit of profit to get something going with your life, but in all of the possible scenario in the bitcoin market, be it negative or positive, we shouldn't forget doing our DCA investment routine because that's the way the we grow our investments and that way also makes sure that we don't miss out no matter what happens and we risk too little when price dumps happen.

[kryptqnick]

Bitcoin is volatile, and it's been volatile since its creation. It's a by-product of being unregulated and subject only to the free market. There's no need to give too much thought to daily or weekly Bitcoin's fluctuations, as they don't mean anything and major trends are only visible in hindsight anyway. I'd say that any price above $60k is certainly a good price, and, zooming out the price chart, it looks like we're still very close to the peak and there's no reason to get worried. The price is just 15% below the ATH, which is uncommon.

[btc78]

Is the retracment over?

I think so but I also have a hunch that this might be the lowest price we see in awhile.

Will price create another ATH from here

Though I am fairly confident that it will take quite a bit of time for a new ath to be set, I believe bitcoin is heading towards that.

or is this a dead cat bounce?

Nope one of the indicators of a dead cat bounce is low trading volume which is not the case for bitcoin as we see. It was a temporary dip and those who were smart enough to take advantage of such time will surely reap some rewards in the coming months.

[sokani]

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

Actually, I knew the of Bitcoin price was not going to turn green immediately after the halving but I never knew it would take such a deep. So If anyone tells you that the retracement is over and we are heading to a new ATH, such a person is not being truthful, no one knows what's going to happen in the coming days. If the price retraces again you shouldn't panic, we are already in the post halving and the market will soon go bullish.

[peter0425]

If the price retraces again you shouldn't panic, we are already in the post halving and the market will soon go bullish.

If the price declines again, consider me the happiest man alive. I feel like I was not able to completely take advantage of the dip. I wishI could have accumulated more and I could have done that if I had more money so hopefully I get to save more money just right before the market goes on quite a recline once again. I will then use the opportunity to buy some more bitcoin.

[Z-tight]

Woke up to see BTC at 63k this cold Saturday morning, although I'm excited but I'm kinda skeptical and have questions. Is the retracment over? Will price create another ATH from here or is this a dead cat bounce? Let's share opinions below.

I think this is a speculation topic, so maybe you should move it there. Now back to the topic, there was no significant fall in the price of BTC, so we cannot talk about a dead cat bounce in this situation, this is just a correction in price after the halving, and to be fair a lot of bitcoiners were expecting it, though we could not have guessed exactly how much the price would fall.

The price has started showing signs of an uptrend and it is now above $60k again, if this correction phase is over which i think it is, then the price will continue to rise until we are above $70k, and if we break that resistance, then we are getting closer to ~ $100k.

[Essential10]

After the Bitcoin halving we saw the Bitcoin price go down last week and saw it drop a bit below $57k. Over the past two days Bitcoin has started to rise again which I now see above $63k. The future of Bitcoin is very difficult to predict, although Bitcoin is currently trending upwards. If Bitcoin continues to slowly enter the bull market and can maintain the current price uptrend then I think Bitcoin will reach new highs very soon. If we think about the future and want to profit from Bitcoin then we must hold on to it while increasing our investment in Bitcoin.