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

[Rabbitqt]

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.

Weekly still needs to be bought up more before we can say the retracment is over.

[Solosanz]

My serious reaction:



I mean, what? it's just $63K, Bitcoin was reach $73K and I didn't even sell any of my coins, so why I need to pay attention when the price is just $63K?

If you think Bitcoin price always increase then you're wrong, it could be a correction or dump again, no one knows. Short term rise isn't what I'm looking for, but I'm looking for huge spikes that will happen in the end of the year!

[pooya87]

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.

I don't know what a miner (with a SHA256 ASIC) switching to AI means
But it is normal to see some miners leave whenever the mining income goes down whether it is through halving where the block reward goes down or whether it is through a market crash (eg. price falling from $20k to $3k back in 2018) and their income goes down.
This process is not causing "oligopoly", there are still a lot of places around the world where the cost of mining is too low to become hard to mine even with price drops or reward cuts, etc. so mining remains spread and decentralized enough.

[GigaBit]

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 not possible to predict anything by looking at the market sentiment. Because the market movement can change at any time. But those who hold bitcoins have faith in bitcoins and depending on it they try to reach their goal. Bitcoin price reduce from $73k to $57k after new ATH. Some investors were quite disappointed by the price drop. But currently Bitcoin is back to previous levels. It is easy to understand that if there were no buyers, Bitcoin could have gone further down but instead it has gone up. I don't think it rising for temporarily. Since it has recovered quickly from the bottom position it will definitely be bullish. The positive attitude of investors forced  to the market to turn bullish.

[Ambatman]

I don't know what a miner (with a SHA256 ASIC) switching to AI means
But it is normal to see some miners leave whenever the mining income goes down whether it is through halving where the block reward goes down or whether it is through a market crash (eg. price falling from $20k to $3k back in 2018) and their income goes down.
This process is not causing "oligopoly", there are still a lot of places around the world where the cost of mining is too low to become hard to mine even with price drops or reward cuts, etc. so mining remains spread and decentralized enough.

well it means they start doing Pump and dump on other coins.
So the cost isn't constant but calculated based on locations
Well I guess I shouldn't be expecting the cost of electricity to be same across all countries.
Flawed thought that the cost for mining a BTC is quite similar across the globe.
This was helpful
Then the cost fluctuates and could even get lower than the current cost if more miners leave the network and vice versa.

[salad daging]

If asked about the future of bitcoin, of course you want to increase, creating new ATH again continues to be profitable. But we never know the direction of bitcoin can only predict that in the future it will rise to $100K, you may be skeptical but for me it is optimistic because bitcoin can always repeat the same history which is the new ATH.

When? Time? The date and month never know even think this is even longer some argue at the end of the year yes that is their speculation about the future bitcoin.
Now bitcoin is only experiencing a longer correction that I think yes we only think no more than that, the future no one knows we only predict.

[legendbtc]

My serious reaction:



I mean, what? it's just $63K, Bitcoin was reach $73K and I didn't even sell any of my coins, so why I need to pay attention when the price is just $63K?

If you think Bitcoin price always increase then you're wrong, it could be a correction or dump again, no one knows. Short term rise isn't what I'm looking for, but I'm looking for huge spikes that will happen in the end of the year!

The interesting thing is that everyone claims they have never considered bitcoin as a get-rich-quick investment, but they always check the bitcoin price every day and every time there is a correction or slight increase, they start talking. People run everywhere to find reasons why prices fall and reasons why prices rise. It didn't stop there, when bitcoin started to increase in price, everyone was optimistic and set higher goals, but as soon as bitcoin corrected, the crowd began to panic and predicted that bitcoin would fall even deeper.

Bitcoin is a financial market and once it is a financial market, it will always fluctuate, if there is an increase, there will be a decrease. We cannot expect bitcoin to rise to $100K or $1M without any correction.
We are investing long-term in bitcoin but we are too sensitive to its short-term fluctuations, which is really not good for our investment.

[Kelward]

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.

Most Bitcoin price observers were speculating a price dip after the halving, but they never expected this much dip, especially since Bitcoin started being bullish after the ETF approval, now we're seeing a new price of over $63k today, perhaps it's a sign that price has started to rally upwards or it could just slightly dump again. I just choose not to worry or panic about this temporary pump and dump, because I know that we're definitely going to enter bull run from now to a couple of months time, so I'll just use this opportunity to accumulate more, before the inevitable ATH that we don't know when it'll happen.

[avp2306]

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.

Man there's no one can predict the potential price to reached by bitcoin. Its bit unexpected for bitcoin to reach recover as fast as that and that's really good sight to see since that mean there's more to go for bitcoin and maybe we can able to see some great price changes in upcoming months. Much better if you research and don't easily believe on other peoples opinion since they might be wrong on their speculation so we should not make those as a basis on what we should do in future.

But I'm expecting to see more from bitcoin since we maybe not done yet with bullish season. Also looking forward for bitcoin to reach another ATH since this could bring some good confidence for a lot of people that bearish season yet is not gonna happen yet.

[DeathAngel]

Market seems to have shown real strength, after the dump to 56k it has rebounded to 64k already. This bull run is only just beginning, the market does not want to cascade downwards. Soon the effects of the halving will refoect in the price. I am feeling very bullish right now, exciting times.

[Volimack]

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.

As far as I know the future of bitcoin is not easy to predict but we assume that the bull run is not over yet and bitcoin will perform better in the coming times. Bitcoin can make its new ATH again, we just have to wait patiently. Bitcoin has a good outlook on the market and if you do market research you will understand that no other currency is doing as well as bitcoin.

[serjent05]

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.

True that he will never lose all his assets even if he sells at a loss, just for instance, he bought at $70k  and sell at $56k  when the price dip in fear of losing more, he still did not lose all assets, more or less he lost around 20% of his capital.  The only scenario where a Bitcoin holder lost all his asset value is when Bitcoin becomes worthless and that is unlikely to happen at the current state of the market.

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.

It won't hurt to know the news, in fact it is suggested to be updated on whatever investment we had.  We just need to have a deep knowledge of our investment and have faith in our decision of buying and holding BTC.  After all, the Bitcoin market even though is unpredictable, always rebounds and even records a new high every 4 years, in fact, it recorded a new ATH even before the halving event happened. 

If we look at the history of the Bitoin market, it tends to transition into a bull run trend some months after the halving since it is one of the catalysts of the market to transition into a bull market.  So I think we can expect a gradual recovery of price and eventually a bull run that may record new ATH, lets just wait and see it happen.

[YOSHIE]

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

The crypto market is currently not good, so whatever you want to do with crypto, especially Bitcoin, you need to think carefully, as much additional information as possible is really needed in the current situation.

You need to know that Bitcoin has now passed a new ATH and halving, so many experts and investors are having difficulty guessing the direction of Bitcoin's development at this time, but many people are speculating and predicting Bitcoin for some time may be one or the other the next two years there is no further movement after what has happened, as you mentioned $63k or $70k, overall the downward direction is most likely, but experts do not say how much.

Honestly, for me the best step to take right now is trading, I see many people don't think about the new ATH anymore, they take advantage and follow the current crypto market movements, to get good results in the crypto world.

[aoluain]

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

The crypto market is currently not good, so whatever you want to do with crypto, especially Bitcoin, you need to think carefully, as much additional information as possible is really needed in the current situation.

You need to know that Bitcoin has now passed a new ATH and halving, so many experts and investors are having difficulty guessing the direction of Bitcoin's development at this time, but many people are speculating and predicting Bitcoin for some time may be one or the other the next two years there is no further movement after what has happened, as you mentioned $63k or $70k, overall the downward direction is most likely, but experts do not say how much.

Honestly, for me the best step to take right now is trading, I see many people don't think about the new ATH anymore, they take advantage and follow the current crypto market movements, to get good results in the crypto world.

Yea as ever its a great time for traders but not everyone has the knowledge or time
to make trades but buying the dips in a bull market should always pay off really.
Fortunately I was able to buy at just below $58k.


The rise to $63k is just a sign to me that we are in the post halving bull market and
should be doing so for the next 10 to 12 months, that means rising....with pull
backs along the way just like we had recently. These are perfect conditions for traders.

[stadus]

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.

No ones cannot tell accurately whether there’s more retracement coming or it ended up at $57k, but one thing is certain, the next couple of months will still be a roller coaster ride before we will hit with the new ATH price. That is already anticipated by majority, so all we have to do is to prepare ourselves.

However, it’s also good to speculate if the current price will follow an upward movement consistently, which means we will come to witness more than $70k this time as everyone is expected. That is, if price correction will not be worst this time, and things will work out according to plan.

[Fara Chan]

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 don't think the current price bounce is a dead bounce because it occurs because there are still people who are willing to buy at the current price or before the price returns to $60K. So I still believe that another ATH could happen again if the Bitcoin price continues to move upwards from now on because this is still not over. So you don't need to withdraw from Bitcoin if you still want to aim for more profits or more Bitcoin in order to keep it as an asset for the future. Now throw away your skepticism and continue to believe in Bitcoin because it will not disappoint you in the future.

[Gaza13]

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.    

When they sell all their assets, of course the price of bitcoin will have an impact on decreasing. of course everyone here is ready to accommodate if prices experience a big drop. I think They are not that stupid to sell all their bitcoin assets.

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.

What you say is correct, we don't need to panic if we see prices going down. There are many elites out there who really believe in this one asset, and they continue to accumulate assets without looking at the price, why can't we? We have to look like the big guys out there who keep collecting bitcoins every month. Indeed, the current price seems very expensive for some people, but I don't think so, I will continue to accumulate as much as possible. I am sure I will reach a new ATH in the future.

[kotajikikox]

Most Bitcoin price observers were speculating a price dip after the halving, but they never expected this much dip, especially since Bitcoin started being bullish after the ETF approval

I mean no one expected for bitcoin to set a new all time high a little before halving but it did so now honestly who knows what comes next? The only thing we should expect from the market is that it is truly unexpected.

Do not expect a specific thing and then get so anxious when it doesn’t happen. No could possibly predict the movement of bitcoin accurately.

[Juse14]

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.

no one can predict the direction of the market or the price of bitcoin in the future, therefore we have to be smart and clever in looking for information about bitcoin in order to minimize our losses, if you look at the history of the price of bitcoin from when it was first created until now the price is very far away, this one This means that Bitcoin is widely trusted by investors, where the price of Bitcoin tends to rise every year.

If we intend to invest in the long term, this might reduce our level of worry about Bitcoin itself, why is that? because from the start we intended to make a long-term investment, we may not see the price of bitcoin go up or down every day.

[AnonBitCoiner]

Price will fluctuate like this so think about your profit instead of examining the market for its past or future. In previous Halving every one was benefited but those people work according to their knowledge while currently people are using greed more than their knowledge and are facing troubles.

We have no knowledge about whether the correction ends or not and also we don't know if the price will touch another ATH or not in the current year but we are assuming that next year will show better than the current year as we will see boosting months in 2025.