Let's Hold Strong, Not Hope for a Drop!

[Saint-loup]

People won't become bears by selling or shorting or won't become bulls by buying or placing long leveraged orders, just because few bitcointalk users think its price will decrease or increase. And TBH, no big event is scheduled in the coming months. So there is no reason to be much optimistic IMO. Quite the opposite, some bearish events are expected to happen in the coming months such as MtGox distribution. And much profit is yet to be taken. In addition summer months are not known to be good months for Bitcoin, they are rather bearish usually.

[Marvell1]

People won't go down or go up, just because few bitcointalk users think its Price will decrease or increase. And TBH, no big event is scheduled in thé coming months. So there is no reason to be much optimistic IMO

Although market movements are affected or dependent on macroeconomic news, big news has a significant impact on the market, but big news is not always scheduled in advance. There are still a lot of news announced unexpectedly or sometimes the market will move without any news to impact it.

But do you think the ETH ETF is big news? Although it may not sound related to bitcoin, I think this type of positive news will have an impact on the entire market including bitcoin. We have a lot of bad news like the US and German governments want to sell bitcoin and Mt.gox but it seems the market is not reacting too negatively to this news. So I think once the ETH ETF starts trading, we will probably see the market pick up.

[Republikcoin.com]

The capitulation of cryptocurrency miners is anticipated to play a significant role in the upcoming bitcoin surge. But how can we identify when miners have capitulated?

This is still difficult to identify thoroughly because miners can also increase in number when seeing Bitcoin prices which are as high as they are now. However, the increase in the price of Bitcoin actually has more influence on purchasing power or demand in the market, even though there is supply at any time. So what the miners do actually won't have enough of an impact on the price of Bitcoin itself and even if there is it won't be much more than people who always make purchases in the market in quite large amounts.

[mirakal]

If the price of bitcoin reaches back low to $20k, a lot of investors will suffer big losses and some will give up. But this is also an entry for poor people who only have limited sources of income to at least buy a few sats for just a few dollars. Although was not looking great seeing the decline but I have to agree that it is better to stay low even below $50k rather than see it continuously growing fast. Because I was afraid that only rich people could afford to buy and was hopeless for average and poor people.

I don't think it is hoping for the drop but just like saying we're giving some chances to other people. In fact, we're saying bitcoin is for everyone but how does it become possible when the price is already too high?

[Toro iskandar]

If the price of bitcoin reaches back low to $20k, a lot of investors will suffer big losses and some will give up. But this is also an entry for poor people who only have limited sources of income to at least buy a few sats for just a few dollars. Although was not looking great seeing the decline but I have to agree that it is better to stay low even below $50k rather than see it continuously growing fast. Because I was afraid that only rich people could afford to buy and was hopeless for average and poor people.

I don't think it is hoping for the drop but just like saying we're giving some chances to other people. In fact, we're saying bitcoin is for everyone but how does it become possible when the price is already too high?

Just a little addition to complete your opinion above, in my personal opinion if the price of bitcoin drops to $20k then it is true that investors will experience a big loss from the incident because investors are not half-hearted in buying the price of bitcoin and they really want to get a lot of profit and the steps that must be taken immediately are better to stop for a while so that the price can stabilize again.
However, for buyers in the category of ordinary people or poor people, the decline in the price of bitcoin will be used as a very rare and useful moment because this is the moment when they want to buy bitcoin and sell it when the price is high.
And the point is that this decline in the price of bitcoin has positive and negative sides for investors or buyers.

[Yaunfitda]

The capitulation of cryptocurrency miners is anticipated to play a significant role in the upcoming bitcoin surge. But how can we identify when miners have capitulated?

This is still difficult to identify thoroughly because miners can also increase in number when seeing Bitcoin prices which are as high as they are now. However, the increase in the price of Bitcoin actually has more influence on purchasing power or demand in the market, even though there is supply at any time. So what the miners do actually won't have enough of an impact on the price of Bitcoin itself and even if there is it won't be much more than people who always make purchases in the market in quite large amounts.

I don't know but perhaps capitulation is done, which include miners, at $60k++ for sure they are still in the positive and that's why we haven't seen a huge drop from that price because that is at least the gauge for them. And obviously they've made a lot of money already remember? When there is a mempool congestion second half of the year and at least in the first 3-4 months of 2024. So they are already having the best years of being a miner and for sure they might sell some for their business to continue to operate. So I don't think that they simply go out, it's more of the investors that are selling right now because of what they are seeing, nevertheless, just continue what we have done, accumulate at this current price and just be a long term holder.

[legendbtc]

If the price of bitcoin reaches back low to $20k, a lot of investors will suffer big losses and some will give up. But this is also an entry for poor people who only have limited sources of income to at least buy a few sats for just a few dollars. Although was not looking great seeing the decline but I have to agree that it is better to stay low even below $50k rather than see it continuously growing fast. Because I was afraid that only rich people could afford to buy and was hopeless for average and poor people.

I don't think it is hoping for the drop but just like saying we're giving some chances to other people. In fact, we're saying bitcoin is for everyone but how does it become possible when the price is already too high?

Do you mean bitcoin drops from current price (62k$) to 20k$? Surely no investor wants this to happen and what guarantees that when it drops to $20k, many poor people with limited income will buy bitcoin? Many people would be more scared than excited if bitcoin dropped below $20k, so that's a really bad wish. Furthermore, I don't think the fact that bitcoin is trading at $60k or $70k is a barrier for poor people not to invest in bitcoin because they can still buy bitcoin even with a capital of $10. They don't invest out of fear or incompetence...they can't be blamed for the high price of bitcoin, this reason sounds too unreasonable.

[Sebas.tian]

Taking the advantage of this current price is a good suggestion OP, but some investors are looking at what is in their hands, if it will reach them to purchase huge amount of Bitcoin and hold for long term, because every investors like to be holding huge amount of money during the bearish season. I have faith that the price will still decrease more than $60,000 before the end of this year, because the price has remain in this level for some months now for some investors to take advantage of it, but some investors know that the price will going to decrease more before they can take a bold step to purchase and hold. I don't think, professional holders will release their Bitcoin in this current price,  because the price is too low for holders to make income that will satisfy them than to continue holding till the price reach $85,000 before they can trade to achieve good result.

[SmartGold01]

The lazy ones who wants price at a zero level could wish for the drops because those who knows how it takes bitcoin to move from every single steps can never wish for it to decrease so cheap so they could hold what they want to hold. It's important to always ride with bitcoin at any price we may find it because those who were waiting since 2 to 3 years ago had never seen bitcoin falls below the prices they found it today so what is the extent or reason for waiting and wish for price to dip so they could dca and even though drop it would just be a little without dropping much in percentage and at this point they could utilize it with the DCA methods.

[Zadicar]

The capitulation of cryptocurrency miners is anticipated to play a significant role in the upcoming bitcoin surge. But how can we identify when miners have capitulated?

This is still difficult to identify thoroughly because miners can also increase in number when seeing Bitcoin prices which are as high as they are now. However, the increase in the price of Bitcoin actually has more influence on purchasing power or demand in the market, even though there is supply at any time. So what the miners do actually won't have enough of an impact on the price of Bitcoin itself and even if there is it won't be much more than people who always make purchases in the market in quite large amounts.

I don't know but perhaps capitulation is done, which include miners, at $60k++ for sure they are still in the positive and that's why we haven't seen a huge drop from that price because that is at least the gauge for them. And obviously they've made a lot of money already remember? When there is a mempool congestion second half of the year and at least in the first 3-4 months of 2024. So they are already having the best years of being a miner and for sure they might sell some for their business to continue to operate. So I don't think that they simply go out, it's more of the investors that are selling right now because of what they are seeing, nevertheless, just continue what we have done, accumulate at this current price and just be a long term holder.

Doesnt matter whether investors or miners are selling off their coins for whatever reason that they do have in mind. What matter the most on here is on how this market would really be tanking all of those selling pressure and as we can see on how the market do able to hold up with the current price and now we are on that consolidation period on which theres really that uncertainty on what would really be the next move of Bitcoin as of this moment on which it would really be that hard to determine on where it would really be going. As for making drops then it would really be just that normal for a market to have. It would really be just that depending on how someone would really be having that kind of approach towards things on which they would really be needing up to get in line with this volatility.

Also, in general sense on which you wont really be able to make money if it werent for these drops or simply with the movements. It wont really be called a market in the first place
if it would really be just that having that single path of movement on which we know that it cant be just that possible.

[Finestream]

If the price of bitcoin reaches back low to $20k, a lot of investors will suffer big losses and some will give up. But this is also an entry for poor people who only have limited sources of income to at least buy a few sats for just a few dollars. Although was not looking great seeing the decline but I have to agree that it is better to stay low even below $50k rather than see it continuously growing fast. Because I was afraid that only rich people could afford to buy and was hopeless for average and poor people.

I don't think it is hoping for the drop but just like saying we're giving some chances to other people. In fact, we're saying bitcoin is for everyone but how does it become possible when the price is already too high?

I guess this means no debate at all because whether we like it or not, bitcoin price will drop on its own and will surge high after, that is an edge of bitcoin having a volatile nature. So there's no hoping for its price to drop nor pump, because it will really come. What we can do for now is just focus on DCAing regularly, at least regardless of the price, we will still be able to accumulate bitcoin and gain potential profits in time of selling our coins.

[$weetne$$]

Do you mean bitcoin drops from current price (62k$) to 20k$? Surely no investor wants this to happen and what guarantees that when it drops to $20k, many poor people with limited income will buy bitcoin? Many people would be more scared than excited if bitcoin dropped below $20k, so that's a really bad wish. Furthermore, I don't think the fact that bitcoin is trading at $60k or $70k is a barrier for poor people not to invest in bitcoin because they can still buy bitcoin even with a capital of $10. They don't invest out of fear or incompetence...they can't be blamed for the high price of bitcoin, this reason sounds too unreasonable.

$20,000 is going to be a big dip for Bitcoin and if Bitcoin goes to that price I too would be scared to buy Bitcoin because that price is going to crash the whole market. I do not think Bitcoin can just fall to that price without any big reason causing it but the possibility of Bitcoin trading at $20,000 is too low than Bitcoin trading at $100,000. We would likely see Bitcoin trading at $100,000 first than $20,000 because the market is showing that the price of Bitcoin can rise to $100,000 soon. I hope for a dump so I can buy some more Bitcoin and continue to hodl but not that low to $20,000. If I see Bitcoin at $50,000 I would buy but Bitcoin has being holding above $60,000 and Bitcoin is looking very strong that it would not dip below that price as the market is trading between $60,000 and $63,000

[TravelMug]

The capitulation of cryptocurrency miners is anticipated to play a significant role in the upcoming bitcoin surge. But how can we identify when miners have capitulated?

This is still difficult to identify thoroughly because miners can also increase in number when seeing Bitcoin prices which are as high as they are now. However, the increase in the price of Bitcoin actually has more influence on purchasing power or demand in the market, even though there is supply at any time. So what the miners do actually won't have enough of an impact on the price of Bitcoin itself and even if there is it won't be much more than people who always make purchases in the market in quite large amounts.

Or maybe we can look at it this way, the mempool is not congested, fees are normal and so we might say that miners are not going to capitulate or at least they have profited that much when the fees are high. So we should take that out of the equation already. Although prices are going in sideways, but I do not think it's about the miners, we just could be looking at the simply explanation, there is no buyer at of this time, or if there are buyers, they are outnumbered by sellers.

But if you come to think about it, this is not going to continue to go on. Sooner or later the demand is so huge that we will see the price going up at the start of this month and maybe we will end in a very positive note or maybe December, we might be seeing close to 6 digits.

[Bloodseekers]

I guess this means no debate at all because whether we like it or not, bitcoin price will drop on its own and will surge high after, that is an edge of bitcoin having a volatile nature. So there's no hoping for its price to drop nor pump, because it will really come. What we can do for now is just focus on DCAing regularly, at least regardless of the price, we will still be able to accumulate bitcoin and gain potential profits in time of selling our coins.

I agree with you, of course it will not produce any results if we continue to think about the price of Bitcoin which will experience increases or decreases and it would be better for us to remain focused on collecting Bitcoin as you said and continue to hold until the price of Bitcoin reaches a new ATH to be able to get benefits from holding Bitcoin, because if we continue to debate the price of Bitcoin, of course this is very futile and could make us influenced by what other people say so that we no longer collect Bitcoin, of course this will be very detrimental to ourselves.

[Notalony]

The DCA strategy I have learnt about doesn't even required timing the market condition, purchases of Bitcoin are made irrespective of it's price point, either weekly or monthly, to me Bitcoin doesn't seem to be expensive because with dca one can buy a fraction of it and not a whole Bitcoin, even thou buying when there is a drop gives more of Bitcoin but one doesn't have to wait for a drop before making purchase since Bitcoin can go up and may not come down to your expected drop or dip, waiting can be a total waste of time.

[legendbtc]

Do you mean bitcoin drops from current price (62k$) to 20k$? Surely no investor wants this to happen and what guarantees that when it drops to $20k, many poor people with limited income will buy bitcoin? Many people would be more scared than excited if bitcoin dropped below $20k, so that's a really bad wish. Furthermore, I don't think the fact that bitcoin is trading at $60k or $70k is a barrier for poor people not to invest in bitcoin because they can still buy bitcoin even with a capital of $10. They don't invest out of fear or incompetence...they can't be blamed for the high price of bitcoin, this reason sounds too unreasonable.

$20,000 is going to be a big dip for Bitcoin and if Bitcoin goes to that price I too would be scared to buy Bitcoin because that price is going to crash the whole market. I do not think Bitcoin can just fall to that price without any big reason causing it but the possibility of Bitcoin trading at $20,000 is too low than Bitcoin trading at $100,000. We would likely see Bitcoin trading at $100,000 first than $20,000 because the market is showing that the price of Bitcoin can rise to $100,000 soon. I hope for a dump so I can buy some more Bitcoin and continue to hodl but not that low to $20,000. If I see Bitcoin at $50,000 I would buy but Bitcoin has being holding above $60,000 and Bitcoin is looking very strong that it would not dip below that price as the market is trading between $60,000 and $63,000

Many people always boldly declare that they wish bitcoin could drop to $20k or $10k and they would buy as much bitcoin as possible. But I'm pretty sure that if bitcoin gets dumped and drops to that level, panic will set in and not too many people will be brave enough to buy it as they claim.

I don't know if bitcoin can drop to $50k like you expect but bitcoin is trading at $57k and that's not a bad price. Once again we can see that bitcoin is very unpredictable because I still remember not only you but many people said that the 60k$ support level is very strong and cannot be broken. But if you check the price today, you'll see what we thought wouldn't happen is happening, bitcoin is under $60k.

[Agbamoni]

I can't believe some people want the price of Bitcoin to drop right now so they can buy. Why not just DCA and continue buying so that the once we have bought can grow as the price increases? Maybe those who have not bought are wishing the price to drop so that they can buy including those who have managed to buy only, they also want the price to go on.

OP, don't be surprised that even if the price goes down a lot those wishing for it to go down won't still buy at all. I get to understand with time that most person are not true investors but procrastinators and people who don't believe in the future if they buy Bitcoin now.

[stomachgrowls]

I can't believe some people want the price of Bitcoin to drop right now so they can buy. Why not just DCA and continue buying so that the once we have bought can grow as the price increases? Maybe those who have not bought are wishing the price to drop so that they can buy including those who have managed to buy only, they also want the price to go on.

OP, don't be surprised that even if the price goes down a lot those wishing for it to go down won't still buy at all. I get to understand with time that most person are not true investors but procrastinators and people who don't believe in the future if they buy Bitcoin now.

So now the price is dumping atm @57k, then are those people been doing some DCA or waiting up for Bitcoins price to hit up 42k the lowest based up on TA? Who doesnt want for the price to go down to buy cheap?
Of course if you are a trader then you would really be aiming something like this because this is the way you could really make profits in a short period of time. To those people who are really that
just that new into this market then they would really be that definitely be having those impressions on which arent right. On the moment that they would really be having that actual experience on how this
market behaves or works then they would really be making those realizations that those things they have thinking earlier was just that not possible.

Drops arent that bad, it is really just that peoples emotions are really just that too highly reactive and this is why they do really end up on bad decisions.

[Distinctin]

I can't believe some people want the price of Bitcoin to drop right now so they can buy. Why not just DCA and continue buying so that the once we have bought can grow as the price increases? Maybe those who have not bought are wishing the price to drop so that they can buy including those who have managed to buy only, they also want the price to go on.

OP, don't be surprised that even if the price goes down a lot those wishing for it to go down won't still buy at all. I get to understand with time that most person are not true investors but procrastinators and people who don't believe in the future if they buy Bitcoin now.

True investors have different mindset from fake ones. Bitcoin real investors will definitely push to buy regardless of its price, that’s how deep their faith in bitcoin is. But for those who only want to create hype, even if the price gets too low, they will still never enter bitcoin investment and will always have alibis like this or like that. In short, they really have no plans to invest in bitcoin from the start. They’re just fooling around to distract those who are highly motivated to buy bitcoin even at a small amount.

[uswa56]

True investors have different mindset from fake ones. Bitcoin real investors will definitely push to buy regardless of its price, that’s how deep their faith in bitcoin is. But for those who only want to create hype, even if the price gets too low, they will still never enter bitcoin investment and will always have alibis like this or like that. In short, they really have no plans to invest in bitcoin from the start. They’re just fooling around to distract those who are highly motivated to buy bitcoin even at a small amount.

When someone decides to become an investor in Bitcoin, of course they will try to be able to buy whatever price Bitcoin is and will hold it for a long period of time, but for some people who just want to attract other people's attention, of course they don't understand this investment well until they will not be interested in investing in Bitcoin and what they are doing is just something that is not profitable for themselves because they have seen one of the best investment opportunities at the moment and they are not taking advantage of this opportunity and if they have seen the price of Bitcoin has increased again I think they will regret it what they have done now.