I didn't expect to see it went below 56k

[kawetsriyanto]

If you were following the market right from 2016 you would understand that there's nothing impossible to happen in the industry.

Even we didn't follow the market since 2016, we should understand that there are many factors to trigger the price decreasing severely. We have the news about MT Gox to send a big number of Bitcoin to creditors, this surely makes sense to influence the market price. Just image if the creditors sell the big number of the Bitcoin, the supply will increase significantly and the price drop quickly.

Related news: https://www.theblock.co/post/303594/bitcoin-dips-mt-gox-moves-btc

I don't think something serious have happened let say to me the market would still drop to about 30 to 40 percent decrease from the ATH, this will happen before we finally get into full bull run if the history are in sequence because it seems the market is no longer moving the way it should but it is better to be optimistic that something positive gonna happened.

Yep. We already saw the same way in the previous cycle that the price dropped quite a lot after the halving. It will increase gradually when it is nearing the new ATH in the next year. Decreasing 30% - 40% is quite big, but it is still reasonable because we have some negative news recently. However, I am also the same as you, I no doubt with Bitcoin future. When the negative news is over, there should be another rally on Bitcoin uptrend. I assume in Q4 of this year, we may see another rally for the new ATH of Bitcoin.

If you were looking for a better moment to enter the market then now is the right to engage yourself with DCA.

DCA can be done any time as long as the price looks far from the next ATH. However, sometimes the problem is about capital, we often has no longer money whenever there is a big dump. 

[X-ray]

Current market conditions are difficult to predict, for beginners like me it might be an advantage if there continues to be a decline in prices, I can buy at a slightly cheaper price. with the spare funds I have, but I'm not sure if the price drop will be less than $50k.

I think it will hugely depends on the future mt gox settlement of the distribution of credits, that will be the one that determine whether bitcoin gonna tank below $53k or not, because honestly speaking if it were to go down below that, i will be readying myself for the DCA.
the thing is, since government dumping has made quite the impact, people are hesitant to DCA or buy at current price, but at the same time, mt gox distribution which gonna takes 3 months, is distributed to individual, where each of them gonna make their choices, whether majority of them gonna dump, still yet to be seen, but knowing that they bought BTC at really low price, the chance of them dumping is quite high.

[Webetcoins]

there are some news today that make bitcoin drop, but something like this is not new for bitcoin, even bitcoin has experienced a worse drop than this, so there is no need to panic that bitcoin will drop even worse. the point is if you have bitcoin investment keep holding and don't panic, because you will not lose if you do not sell.

even if you can, you can accumulate more bitcoin when the market condition is like now and do not need to worry that the price will continue like this because bitcoin will definitely go up again.

Who would want Bitcoin to fall especially those who have invested a huge amount in Bitcoin, given the current situation of BTC there is more fear of the market going down. People including me who started doing DCA when it was at $65k have already invested a good amount of their money in BTC and now can only hope that it doesn't go down further and the market remains stable or starts going up soon. Indeed, it will not always be profitable or the market will always be up, so those who say that the market will not go down are just reassuring you or they are marketers. Don't understand that much about it.

As for the rest, only time will tell in which direction the market will move next, but we should hope for the best and we all are hoping for the best because we have seen BTC earlier and we know what it's capable of. For us, this is not new but a long wait.

[Gaza13]

Yes, this is a good opportunity for someone to buy bitcoin, now that Bitcoin is dipping continuously we shouldn't complain, instead we should buy when we have the money. Yesterday I watched a video when a dude was complaining that anytime he buys the dip the dip will continue to dip and I was like this man shouldn't bother at all because Bitcoin is dipping for a purpose. However people who complain now that Bitcoin is dipping are not using a good strategy to accumulate Bitcoin that's why they are not seeing the better side of the dip. Moreover we already know that Bitcoin will skyrocket after this dip so I don't see any reason for anyone to complain, there is always a passive purpose as Bitcoin is dipping.

Yes, of course for some people waiting for a moment like this, yes, the opportunity will never come a second time. If someone has bought at a decreasing price like this and in the future experiences a decrease again, I think this is a normal thing for an incident like this. In my opinion, people who complain are not not using a good strategy but they are not ready to lose their money, usually people who have experienced, of course they won't complain, in fact they are waiting for a moment like this, which is what investors always want.

[STT]

Back above 56k back above 58k even but its too late.   Big thing now is the 200 day average kept on rising and is now overhead of the current price.

 We need to recover half a dozen different factors to properly regain positive momentum in an assured way.  There is some hope in that the 5th July sell off day was a pin candle which is considered bullish.  1 day doesnt mean anything by itself but we have done ok since then.  If July 5th is now the low of current action then a build in price is underway.  Stay confident so long as we continue in a similar manner.

Next thing to watch will be late June action and beating 60k to 63k will right much of the threatened sell off that was extending forward before us.

[AmoreJaz]

there are some news today that make bitcoin drop, but something like this is not new for bitcoin, even bitcoin has experienced a worse drop than this, so there is no need to panic that bitcoin will drop even worse. the point is if you have bitcoin investment keep holding and don't panic, because you will not lose if you do not sell.

even if you can, you can accumulate more bitcoin when the market condition is like now and do not need to worry that the price will continue like this because bitcoin will definitely go up again.

Who would want Bitcoin to fall especially those who have invested a huge amount in Bitcoin, given the current situation of BTC there is more fear of the market going down. People including me who started doing DCA when it was at $65k have already invested a good amount of their money in BTC and now can only hope that it doesn't go down further and the market remains stable or starts going up soon. Indeed, it will not always be profitable or the market will always be up, so those who say that the market will not go down are just reassuring you or they are marketers. Don't understand that much about it.

As for the rest, only time will tell in which direction the market will move next, but we should hope for the best and we all are hoping for the best because we have seen BTC earlier and we know what it's capable of. For us, this is not new but a long wait.

This is the very reason why if you will invest a significant amount of money on this market, you should be ready for this kind of market movement as you can't always get the target price that you want. Also, it should not be the only asset that you are holding onto because if you have urgent financial needs, selling at a loss is always at bay.

Since this market is still very volatile, you should expect a roller-coaster ride of your funds. Even if we say, btc market has already established its position, still it is understandable to feel the anxiety when you are seeing the price to go down below your buying price. Hence, most long-term holders have strong belief about the capability of btc, in terms of how it can increase its value in the coming years.

[wmaurik]

Current market conditions are difficult to predict, for beginners like me it might be an advantage if there continues to be a decline in prices, I can buy at a slightly cheaper price. with the spare funds I have, but I'm not sure if the price drop will be less than $50k.

It seems like it will be a little difficult if you want a Bitcoin price below $50K because today the Bitcoin price has almost returned to $59K, which means you only need the courage to buy at the current price if your dedication is to make a profit in the next month. And for now I still think that in the next month Bitcoin could get even more price increases as long as there is an influence that can trigger more Bitcoin buyers in the market. So it would be better if you want to make the decision to buy Bitcoin now rather than continuing to wait for low prices, which I myself am also not sure about someone's courage in buying Bitcoin when it has fallen a lot.

[erep]

It seems like it will be a little difficult if you want a Bitcoin price below $50K because today the Bitcoin price has almost returned to $59K, which means you only need the courage to buy at the current price if your dedication is to make a profit in the next month. And for now I still think that in the next month Bitcoin could get even more price increases as long as there is an influence that can trigger more Bitcoin buyers in the market. So it would be better if you want to make the decision to buy Bitcoin now rather than continuing to wait for low prices, which I myself am also not sure about someone's courage in buying Bitcoin when it has fallen a lot.

There is an opportunity for a price below $50k to be reached in the next price correction because price recovery does not guarantee that the price will last as long as above $55k, anything can happen in the crypto market and if you are targeting a price below $50k then you have to be patient waiting for the bearish market price. I think the main key is patience because everyone regrets missing the initial target because they thought that price would never be touched but the reality is that the market can fall below $55k regardless of any issues and cases that affect the crypto market price.

[wmaurik]

There is an opportunity for a price below $50k to be reached in the next price correction because price recovery does not guarantee that the price will last as long as above $55k, anything can happen in the crypto market and if you are targeting a price below $50k then you have to be patient waiting for the bearish market price. I think the main key is patience because everyone regrets missing the initial target because they thought that price would never be touched but the reality is that the market can fall below $55k regardless of any issues and cases that affect the crypto market price.

I'm not waiting for a price that low even though it's a price that isn't bad for everyone who wants to buy Bitcoin again to wait for, because today we can all see again where the price of Bitcoin has started to recover slowly until it has returned to past the mark. $60K. Even though it still tends to be small, it is also a good achievement for those who bought more Bitcoin when the price was still $55K a few days ago because the current price is a fairly profitable price for them with a fairly short duration.

Apart from that, we all also have to continue to monitor market trends in order to avoid making wrong decisions and also have to remain patient because if the trend has started to move again and is heading upwards. Of course, we all also have to move to immediately buy Bitcoin again with the reserve capital that we have been saving so far.

[Mahanton]

There is an opportunity for a price below $50k to be reached in the next price correction because price recovery does not guarantee that the price will last as long as above $55k, anything can happen in the crypto market and if you are targeting a price below $50k then you have to be patient waiting for the bearish market price. I think the main key is patience because everyone regrets missing the initial target because they thought that price would never be touched but the reality is that the market can fall below $55k regardless of any issues and cases that affect the crypto market price.

I'm not waiting for a price that low even though it's a price that isn't bad for everyone who wants to buy Bitcoin again to wait for, because today we can all see again where the price of Bitcoin has started to recover slowly until it has returned to past the mark. $60K. Even though it still tends to be small, it is also a good achievement for those who bought more Bitcoin when the price was still $55K a few days ago because the current price is a fairly profitable price for them with a fairly short duration.

Apart from that, we all also have to continue to monitor market trends in order to avoid making wrong decisions and also have to remain patient because if the trend has started to move again and is heading upwards. Of course, we all also have to move to immediately buy Bitcoin again with the reserve capital that we have been saving so far.

We do know that dealing up with this market then it would really be something that pertains about risk taking whether you are basing up with some technical analysis on why you do come up with those prices
or simply you would really be having those kind of price speculations and projections about into those potential drop price. When dealing up with this market then it would really be that understandable that
anything could really happen because TA's or FA's wont really be giving out that 100% precision on where prices could go and this is something that you should really be baring up into your mind on dealing up with this space.
On the moment that you do find yourself having those kind of projects and ended up on getting left behind because the price didnt go as low as you had predicted then it would really be giving out that kind of disappointment
on which it would really be leading into that impulsive approach and this is something that must be avoided in the first place. We've seen on the current market condition now that the price is really that making up some
recovery on which you would really be telling that we might be seeing 70k soon instead of 50k levels but actually there are still some people who had been having those thoughts about deadcat bounce
but basing and looking around then it doesnt seem to be that way.

[Jating]

And we can also say that we didn't expect the price to go up to $63k but now just because Trump got shot? So there's a lot of thing in this ecosystem that it's really hard to explain, especially how volatile it is and probably that's why we love this market.

Very unpredictable, and it's going to make or break a traders mentality in terms of how he will do his trading strategies. And then for the investors, we will have what we call diamond hands and then those weak hands that will sell because they don't like what they see, and they think that they are going to lose money because of how it went down to $54k. But in matter of just 48 hours, now we have bounce back already.

[dunfida]

There is an opportunity for a price below $50k to be reached in the next price correction because price recovery does not guarantee that the price will last as long as above $55k, anything can happen in the crypto market and if you are targeting a price below $50k then you have to be patient waiting for the bearish market price. I think the main key is patience because everyone regrets missing the initial target because they thought that price would never be touched but the reality is that the market can fall below $55k regardless of any issues and cases that affect the crypto market price.

I'm not waiting for a price that low even though it's a price that isn't bad for everyone who wants to buy Bitcoin again to wait for, because today we can all see again where the price of Bitcoin has started to recover slowly until it has returned to past the mark. $60K. Even though it still tends to be small, it is also a good achievement for those who bought more Bitcoin when the price was still $55K a few days ago because the current price is a fairly profitable price for them with a fairly short duration.

Apart from that, we all also have to continue to monitor market trends in order to avoid making wrong decisions and also have to remain patient because if the trend has started to move again and is heading upwards. Of course, we all also have to move to immediately buy Bitcoin again with the reserve capital that we have been saving so far.

We do know that dealing up with this market then it would really be something that pertains about risk taking whether you are basing up with some technical analysis on why you do come up with those prices
or simply you would really be having those kind of price speculations and projections about into those potential drop price. When dealing up with this market then it would really be that understandable that
anything could really happen because TA's or FA's wont really be giving out that 100% precision on where prices could go and this is something that you should really be baring up into your mind on dealing up with this space.
On the moment that you do find yourself having those kind of projects and ended up on getting left behind because the price didnt go as low as you had predicted then it would really be giving out that kind of disappointment
on which it would really be leading into that impulsive approach and this is something that must be avoided in the first place. We've seen on the current market condition now that the price is really that making up some
recovery on which you would really be telling that we might be seeing 70k soon instead of 50k levels but actually there are still some people who had been having those thoughts about deadcat bounce
but basing and looking around then it doesnt seem to be that way.

Expect the unexpected and this is something which is really that very normal when it comes to the movement of this market on which its really that a common approach that you would really be needing to adjust
on whatever the price would really be that looks like.Always be that sensible on the actions that  you are taking and never ever make yourself that panic sell on the moment or time that you've seen the price is already that making those ups and downs. Expect the unexpected indeed on which same as you said. The ones who would really be able to survive this market is to those people who are really that wise on making buying and selling decisions.

The price is really that volatile on which there's no way on knowing on what would be the next movement and there's no way that you will really be able to determine on where it would be
going but at least you do really know on what you are doing. This is why on the time that you would be dealing with this space then you should really be that prepared
on what are the stuffs that you would be making.

[Dave1]

And we can also say that we didn't expect the price to go up to $63k but now just because Trump got shot? So there's a lot of thing in this ecosystem that it's really hard to explain, especially how volatile it is and probably that's why we love this market.

Very unpredictable, and it's going to make or break a traders mentality in terms of how he will do his trading strategies. And then for the investors, we will have what we call diamond hands and then those weak hands that will sell because they don't like what they see, and they think that they are going to lose money because of how it went down to $54k. But in matter of just 48 hours, now we have bounce back already.

It it goes up to $68,500, and I think this is the biggest so far for this month and we still have a week before the end of the month and I thought that we could get as high as $70k. But we will have to wait, for traders, there could be some strategies to make quick profits.

But for long term holders, nah, just go and buy as much as you can specially during the dip to $54k. Or for today, continue to do DCA as we are looking for at least 6 digits for this bull run. And as for the $56k, or $54k, this could be the bottom for this post halving in my opinion.

[STT]

The 200 week average is down at 37k but that represents the worst case for a market and BTC is no where near that bad so the 200 day average is more relevant a guide.  We just traded that area and resolved it positively after some trading.

Right on the 50 week average is 50k and we'd really have to lose this whole year first to properly negative, it doesnt seem to be happening or even threatening.  I expect selling but nothing so serious to negate gains of 2024 properly, eventually we will rise so regular buying seems fair to me if you are capable of being involved long term its much easier.

[boyptc]

And we can also say that we didn't expect the price to go up to $63k but now just because Trump got shot? So there's a lot of thing in this ecosystem that it's really hard to explain, especially how volatile it is and probably that's why we love this market.

Very unpredictable, and it's going to make or break a traders mentality in terms of how he will do his trading strategies. And then for the investors, we will have what we call diamond hands and then those weak hands that will sell because they don't like what they see, and they think that they are going to lose money because of how it went down to $54k. But in matter of just 48 hours, now we have bounce back already.

That's true.

It's hard to find an answer how volatility of Bitcoin works. But it seems that the politics that's being tuned in in the USA has been affecting the market.

Looking to the price that OP has given, it's more unlikely that it will be there but don't say no when volatility hits hard the market. Maybe not now, and we've seen the lowest for this cycle that it can be just after hitting the ATH.

[$weetne$$]

But for long term holders, nah, just go and buy as much as you can specially during the dip to $54k. Or for today, continue to do DCA as we are looking for at least 6 digits for this bull run. And as for the $56k, or $54k, this could be the bottom for this post halving in my opinion.

$100,000 is six digits therefore your predictions can happen because I also think $100,000 is going to be the lowest highest price that Bitcoin is going to be trading at by the end of the bull market and this is what makes me very excited about this bull market that I am a part of. I missed other bull markets because I was not yet into Bitcoin but I will not miss the present bull market and other bull market coming. We should just be buying Bitcoin with DCA and not get worried about anything that is happening to the market. If the price of Bitcoin keep dipping, we should continue to DCA and accumulate Bitcoin because at the end of the day, we have set ourselves in good position to make profits when Bitcoin gets to a new highest price and it is going be a minimum of 6 digits price in the long run as you have said.

[buwaytress]

The 200 week average is down at 37k but that represents the worst case for a market and BTC is no where near that bad so the 200 day average is more relevant a guide.  We just traded that area and resolved it positively after some trading.

Which is why I'm still prepping (deep down) for something that bad, or at least enough to cause some concern. We're months past the cycle where something ought to have happened that's painful, and yet still surfing well above the current.

Personally would be bummed if the cycle we're so used to really is over. Need that 200MA worst-case to at least threaten.

[Mr.right85]

There is an opportunity for a price below $50k to be reached in the next price correction because price recovery does not guarantee that the price will last as long as above $55k, anything can happen in the crypto market and if you are targeting a price below $50k then you have to be patient waiting for the bearish market price.

As much as we are well aware of these opportunities when the market dumps and as at about a week ago, it dumped to below $56k which offers a buying opportunity, investors still likes the idea of having to see price appreciate, well above where we bought or even, well above highs that were maintained for a time.
Of recent, price have been on the recovery, gradually pushing towards the ATH and from the way it’s carrying, we can end the month with a price range above $65k as it is already and not below.
One can always anticipated the unexpected when dealing with Bitcoin and it’s been even more unpredictable after the halving.

[reagansimms]

~~~

Yes, of course for some people waiting for a moment like this, yes, the opportunity will never come a second time. If someone has bought at a decreasing price like this and in the future experiences a decrease again, I think this is a normal thing for an incident like this. In my opinion, people who complain are not not using a good strategy but they are not ready to lose their money, usually people who have experienced, of course they won't complain, in fact they are waiting for a moment like this, which is what investors always want.

To gain profits in Bitcoin investment depends on investors responding to the conditions that occur in the market, anyone who dares to take risks on what they have invested so far will get a commensurate profit. Price fluctuations have played an important role in providing profits to investors, investors who had already bought at a slightly higher price and then the price decreased again afterwards, they had to increase the number of assets when Bitcoin started trading at a cheaper price. The risks contained in Bitcoin investment are in accordance with the results that will be obtained, supply and demand have made investors enjoy maximum results, a good moment to buy when the price is down and then sell again when the price is high.

[SmartGold01]

38k is not possible to be seen again in this month already month has runs out, today is 25th July 2024 so if I'm not mistakenly we have less than 6 days to run out of July to August although anything is possible in the crypto space but it is not certain that the price could drop so low to the extent we would see 38k but however news may carry it to around 60k to 45k but seeing of 38k could be hard.
Instead we may likely see a surge in the market just as we witness it is a price rise back to 68,000 dollars unexpectedly and draw back to 64k currently so likely anything is possible.