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

[Out of mind]

The Bitcoin market had a big rally towards the end of July when it touched $70,000. But in the new month of August, the price of Bitcoin has decreased a lot, below $60k dollars, the price of Bitcoin has dropped even though it is now in a dumping market. But it can be expected that in the coming days, the market speed will enter the positive direction and the value of Bitcoin will increase. I think the price of Bitcoin is likely to be around $55k in August but will definitely touch $70000 again if it goes up.

[uneng]

Now it's said investors are fearful of recession in US. Jobs spots created didn't match the expectations and it lead to a wave of pessimism in global markets, what also affected cryptocurrencies negatively. It's bad news for everyone, but especially for Democrats, as it will be seen as a failure from their government.

It means that on middle term it can trigger Bitcoin price positively, as Trump is likely to be favoured by Democrats' failures, and in the current stage, Bitcoin investors are more optimistic regards Trump than Harris.

Anyway, despite the bearish scenario, Bitcoin is still holding position at 60,000$. It has just to resist a little bit longer until a new bullish tendency takes place.

[Xcode7]

The Bitcoin market had a big rally towards the end of July when it touched $70,000. But in the new month of August, the price of Bitcoin has decreased a lot, below $60k dollars, the price of Bitcoin has dropped even though it is now in a dumping market. But it can be expected that in the coming days, the market speed will enter the positive direction and the value of Bitcoin will increase. I think the price of Bitcoin is likely to be around $55k in August but will definitely touch $70000 again if it goes up.

We have seen a price correction and increase that happened so quickly last month so I think the same thing will happen in August.
At the beginning of this month we saw a fairly sharp price correction and it even just dropped below 60k but I am still quite optimistic that this month there will be a significant reversal movement, just like what happened last month.
So just enjoy the price correction that is happening now, if necessary we can add some Bitcoin when the price is down, this can be a good use of the moment and we are ready again to see a fast positive movement.

[stomachgrowls]

The Bitcoin market had a big rally towards the end of July when it touched $70,000. But in the new month of August, the price of Bitcoin has decreased a lot, below $60k dollars, the price of Bitcoin has dropped even though it is now in a dumping market. But it can be expected that in the coming days, the market speed will enter the positive direction and the value of Bitcoin will increase. I think the price of Bitcoin is likely to be around $55k in August but will definitely touch $70000 again if it goes up.

We have seen a price correction and increase that happened so quickly last month so I think the same thing will happen in August.
At the beginning of this month we saw a fairly sharp price correction and it even just dropped below 60k but I am still quite optimistic that this month there will be a significant reversal movement, just like what happened last month.
So just enjoy the price correction that is happening now, if necessary we can add some Bitcoin when the price is down, this can be a good use of the moment and we are ready again to see a fast positive movement.

Price volatility is something that you would inevitably be able to encounter on the moment that you do step your foot into this market on which it would really be that something recommended that
making yourself that getting prepared at least on the things that you would really be that dealing into specially into this unrpredictable or random space. Who had been expecting that the price dips @60k?
We've seen the price did make out some upward movement on the time that those positive sentiments did really make out some noises recently but we did really end up into that huge negative or price decrease/.
Expect the unexpected as always on which this market is really that not something that you could really be able to predict on where it would really be going.

There are even talks about dropping below 50k on which if this one happens then it is really that going in line into those previous years when it comes to August drops
and thats why if you are emotional then you would really be that primarily thinking that you must really that sell to cut losses on which this is really that a suicide thing
to be done.

[EarnOnVictor]

The Bitcoin market had a big rally towards the end of July when it touched $70,000. But in the new month of August, the price of Bitcoin has decreased a lot, below $60k dollars, the price of Bitcoin has dropped even though it is now in a dumping market. But it can be expected that in the coming days, the market speed will enter the positive direction and the value of Bitcoin will increase. I think the price of Bitcoin is likely to be around $55k in August but will definitely touch $70000 again if it goes up.

Bitcoin has disappointed us all in 2024, it has been a wavy pattern other than the reliable bullish slope that people expected, and certainly, halving has not helped either, let's wait and see, maybe the effect will start materializing in October as it did after some of the past ones. But I doubt it this time, different patterns are unfolding that will not let that happen.

Now, I advise us to watch out for between $55,000 and $70,000 it's possible Bitcoin ranges within those regions for the time being. However, a break away from either of them, especially if the market had a weekly and monthly close above ($70,000) or below ($55,000) levels, it could be a serious pointer to where it's heading afterwards.  

[topbitcoin]

If the bitcoin price journey again is the same as in July to reach the $53k price level and then we get another price decline rejection at that price level, most likely we will get a double bottom pattern and will retake the bitcoin price and re-enter the side ways arena or could be a bullish zone again.

For that, I personally am still a little hesitant because in the last two days I have seen the price resistance at the $60K level is still quite strong and is still in that area until now so the possibility of seeing the Bitcoin price again below the $55K level seems a little slim even though it is not impossible to happen again to Bitcoin in August. But on the one hand I still think that Bitcoin will move back up from the current price before showing sideways in the market for a not so long duration.

And to be precise today really tested the $58k level, and as we talked about before this will be a continuous decline so that the market returns to take a breath, the $56k price level and the $53K price level will be the highlight of this decline in my opinion, so that we need to be more careful in making entries.

This is almost unbelievable to me personally too, but the negative sentiment is affecting all of this, and my view is that this negative sentiment is strong enough that some traditional investors have fears, including the escalation of Iran starting to Israel heating up again as well as the US economy is under threat, this allows US interest rate cuts to take even longer and stay at 5.5 basis points, keep doing DCA until we can see the eyes of the day at the end of the year sir.

[wmaurik]

And to be precise today really tested the $58k level, and as we talked about before this will be a continuous decline so that the market returns to take a breath, the $56k price level and the $53K price level will be the highlight of this decline in my opinion, so that we need to be more careful in making entries.

This is almost unbelievable to me personally too, but the negative sentiment is affecting all of this, and my view is that this negative sentiment is strong enough that some traditional investors have fears, including the escalation of Iran starting to Israel heating up again as well as the US economy is under threat, this allows US interest rate cuts to take even longer and stay at 5.5 basis points, keep doing DCA until we can see the eyes of the day at the end of the year sir.

There is clearly fear in the minds of all investors including traditional investors as you said that through some of the things you mentioned that made the price of Bitcoin go below $50K even though at this time it has recovered and is approaching the $58K range again. And actually I am also quite worried about some of the influences that you mentioned because at this time these things will still be a cause for making the market remain abnormally volatile, although at this time at least I am also starting to feel a little relieved when I see that there is an immediate recovery in the price of Bitcoin itself.

[topbitcoin]

And to be precise today really tested the $58k level, and as we talked about before this will be a continuous decline so that the market returns to take a breath, the $56k price level and the $53K price level will be the highlight of this decline in my opinion, so that we need to be more careful in making entries.

This is almost unbelievable to me personally too, but the negative sentiment is affecting all of this, and my view is that this negative sentiment is strong enough that some traditional investors have fears, including the escalation of Iran starting to Israel heating up again as well as the US economy is under threat, this allows US interest rate cuts to take even longer and stay at 5.5 basis points, keep doing DCA until we can see the eyes of the day at the end of the year sir.

There is clearly fear in the minds of all investors including traditional investors as you said that through some of the things you mentioned that made the price of Bitcoin go below $50K even though at this time it has recovered and is approaching the $58K range again. And actually I am also quite worried about some of the influences that you mentioned because at this time these things will still be a cause for making the market remain abnormally volatile, although at this time at least I am also starting to feel a little relieved when I see that there is an immediate recovery in the price of Bitcoin itself.

of course not a few people are worried about the uncertain market conditions and the decline that is very much in the forecast of many people, but we need to see again that indeed the sentiment is now improving, although there is still fear of a bull trap.

But the starch in my opinion is that next September when the Fed cuts interest rates will provide a fresh aroma for the Bitcoin market, so the continued election in November will make us even more excited in the market, especially since bitcoin narratives are now very popular among the US political elite, this will be an extraordinary drama for the growth of bitcoin adoption.

Today we just need to collect it slowly, precisely tonight bitcoin wants to touch the $60k price level again.

[wmaurik]

of course not a few people are worried about the uncertain market conditions and the decline that is very much in the forecast of many people, but we need to see again that indeed the sentiment is now improving, although there is still fear of a bull trap.

But the starch in my opinion is that next September when the Fed cuts interest rates will provide a fresh aroma for the Bitcoin market, so the continued election in November will make us even more excited in the market, especially since bitcoin narratives are now very popular among the US political elite, this will be an extraordinary drama for the growth of bitcoin adoption.

Today we just need to collect it slowly, precisely tonight bitcoin wants to touch the $60k price level again.

Today the price of Bitcoin is still in the range of $60K even though it had increased to more than $62K in the past two days and in general I am starting to be less worried about market conditions when I see a little price recovery in Bitcoin like now. Because some of the things you said could have a positive impact on Bitcoin and the crypto market this year, and moreover, there is a US presidential candidate who is also very fond of Bitcoin, so there is a better potential if the candidate can win the election in November.

[rhodelmabanal]

This is so surprising to see that bitcoin has gone below the 60k benchmark to 56k within breaking out of this new month, does this show that more dip is possible to come within this period? Was this a shock to you seeing the price this low because I know lot of people were thinking of seeing bitcoin at 80k breaking out this new month. This now occurred to me that historical data still taking its place as it was before because when you look at the market it seems that this year didn't follow it's history and that was were confusion sets between investors and traders.

Will the price touch $38k this months?

No one knows if bitcoin will back to 38k$ price all we know is bitcoin price is unstable it moves everytime from low to high and from high to low so there is no need to be astonished if you follow bitcoin from year 2016 till present you will see a lot of high and lows and the people who hold will always win or earn profit.

[Bitcoin_people]

~~

Will the price touch $38k this months?

I think bitcoin price will never touch $38k this month is a completely wrong analysis. Because we know that the bull season is waiting in 2025 and at that time the price of Bitcoin is likely to exceed $100k. As the price of Bitcoin hit its all-time low of $49,000 this month, most people were worried that Bitcoin might fall further. But we can now expect hope to return from the upswing in the Bitcoin market and expect the price of Bitcoin to rise further in the coming days. However, since the Bitcoin market is currently above $60,000, we can expect $70,000 by the end of this month. As the bull season is coming soon we can see and look forward to it then the price of Bitcoin will increase even more.

[Porfirii]

~~

Will the price touch $38k this months?

I think bitcoin price will never touch $38k this month is a completely wrong analysis. Because we know that the bull season is waiting in 2025 and at that time the price of Bitcoin is likely to exceed $100k. As the price of Bitcoin hit its all-time low of $49,000 this month, most people were worried that Bitcoin might fall further. But we can now expect hope to return from the upswing in the Bitcoin market and expect the price of Bitcoin to rise further in the coming days. However, since the Bitcoin market is currently above $60,000, we can expect $70,000 by the end of this month. As the bull season is coming soon we can see and look forward to it then the price of Bitcoin will increase even more.

I hope you're right, Bitcoin_people. We will see it back from vacation, as I expect the last quarter of the year to be the time when we will pass the ATH by large and enter uncharted territory. If price doesn't get it, it will be a difficult situation because the trend of cycles that we have seen  so far will break, and that could be uncharted territory too, but in the worst sense possible.

Anyway, I'm optimistic, and recent news predict a bright future that I hope will come true.

[skarais]

~~~

No one knows if bitcoin will back to 38k$ price all we know is bitcoin price is unstable it moves everytime from low to high and from high to low so there is no need to be astonished if you follow bitcoin from year 2016 till present you will see a lot of high and lows and the people who hold will always win or earn profit.

If you find the market fundamentals turn very negative for some bad reason, then you may find the price of bitcoin falling very deeply.
Several factors can be used as a benchmark for analyzing future prices, one of which is circulating news. If FUD about bitcoin increases, the price will fall accordingly, and vice versa when the price will rise.

Exact prices are difficult to predict, but you can determine whether the market will grow or fall by finding several reasons. Currently the market is unstable, I mean not very positive after falling to $49k, but the market is starting to recover where bitcoin is back to trading around $60k.

[348Judah]

Bitcoin market price remained an unpredictable thing to do, we may not be precise on the exact rate of how dip it may go and also, we cannot tell on when and how fast it could pump in favour of the investment we are making, as we see some few days back, the market plummet down to $48,000 before pumping back to $62,000 and were it is now, this is part of the expectations with the volatile market because we are going to see it at any direction.

[topbitcoin]

of course not a few people are worried about the uncertain market conditions and the decline that is very much in the forecast of many people, but we need to see again that indeed the sentiment is now improving, although there is still fear of a bull trap.

But the starch in my opinion is that next September when the Fed cuts interest rates will provide a fresh aroma for the Bitcoin market, so the continued election in November will make us even more excited in the market, especially since bitcoin narratives are now very popular among the US political elite, this will be an extraordinary drama for the growth of bitcoin adoption.

Today we just need to collect it slowly, precisely tonight bitcoin wants to touch the $60k price level again.

Today the price of Bitcoin is still in the range of $60K even though it had increased to more than $62K in the past two days and in general I am starting to be less worried about market conditions when I see a little price recovery in Bitcoin like now. Because some of the things you said could have a positive impact on Bitcoin and the crypto market this year, and moreover, there is a US presidential candidate who is also very fond of Bitcoin, so there is a better potential if the candidate can win the election in November.

Q4 this year might be a special year for bitcoin, there is a lot of bullish sentiment from the economic macro for bitcoin, even if the correction returns in my opinion it will not be separated from the price of $56k, this will not be repeated if you see the current situation.

The biggest fear is the escalation of the war between Iran and Israel, if this involves more countries in conflict it could be the worst negative thing, we know that these two countries have their loyal friends in running their business and strong government, if it comes to blocking the industry it could and become a conflict between two associations or camps will have a bad impact on the global economy.

[ndutndut]

Bitcoin market price remained an unpredictable thing to do, we may not be precise on the exact rate of how dip it may go and also, we cannot tell on when and how fast it could pump in favour of the investment we are making, as we see some few days back, the market plummet down to $48,000 before pumping back to $62,000 and were it is now, this is part of the expectations with the volatile market because we are going to see it at any direction.

Indeed, the price of btc will always be difficult to predict. This was seen after the global market crashed and then caused the crypto market to fall, even bitcoin fell to a price of $ 49k on August 2 yesterday. However, after a few days later bitcoin slowly began to recover and indeed btc seemed to be the spearhead in market recovery. Because after BTC fell to a price of $ 49k with a decrease of % 20 but now BTC has returned to $ 60k, this means that BTC has also recovered and grown by % 20.
After bitcoin broke through the $ 62k mark even though it is now holding for a long time in the $ 60k area, this indicates that the market is improving again and it is not impossible that btc will continue to soar in the next few months. So even though btc is difficult to predict, it would be better if we continue to do dca on bitcoin and continue to hold btc until the desired target is achieved. The price of btc is indeed volatile but we must avoid decisions caused by panic.

[aylabadia05]

Bitcoin market price remained an unpredictable thing to do, we may not be precise on the exact rate of how dip it may go and also, we cannot tell on when and how fast it could pump in favour of the investment we are making, as we see some few days back, the market plummet down to $48,000 before pumping back to $62,000 and were it is now, this is part of the expectations with the volatile market because we are going to see it at any direction.

I think the market can be predicted, it's just that the exact price is difficult to determine. We can predict what price range will be in a certain time period when doing analysis, but it will be very difficult to say the exact value. The existing volatility should be considered normal and it will always be beneficial for those who are able to maximize it. Investors who have strong capital will buy a lot during price drops, giving them huge returns.

The best thing to do when prices are falling is to hold and continue accumulating. The problem is that not everyone can do it, while some panic and accept the loss. Bullish sentiment will likely come in a few weeks or months, but the market will take time to recover.

[STT]

56k is still not that far away and we have to sort out that yet again we made a new low in this sequence.   That I presume must be tested and proven finished before we move on.

However away from that , a new factor is the 50 day average trading below the 200 day.  Since late last October the 50 day has been above the 200 showing the positive momentum and gains that were occurring regularly in the price.  

Even after the recent double digit % gains in one day its not been enough to alter these longer standing averages.  We have slowed down enough to say that BTC is not gaining overall.  Nice start to the year but its become caught up here.

I call this consolidation, I wont opt to say its bearish but without doubt this crossover of 50DMA below 200DMA shows slow down.   This condition last appeared as a trend in 2022 which saw a great pullback.
  I say its consolidating but also pullback  has to be written down & considered as the next period for BTC


Last days of 2023 I wrote in a poll and posted 60k as my guess for 2024 end (Dec).  We're there now but I doubt we'll stay flat for months

[wmaurik]

Q4 this year might be a special year for bitcoin, there is a lot of bullish sentiment from the economic macro for bitcoin, even if the correction returns in my opinion it will not be separated from the price of $56k, this will not be repeated if you see the current situation.

I also think so, but every different possibility can always happen in the market so everyone must also be more prepared to face the level of Bitcoin price correction in the market when approaching Q4 this year. Although I am still more optimistic about the price increase at the end of this year because there are many parties who are happy enough to buy Bitcoin and continue to hold it until now.

The biggest fear is the escalation of the war between Iran and Israel, if this involves more countries in conflict it could be the worst negative thing, we know that these two countries have their loyal friends in running their business and strong government, if it comes to blocking the industry it could and become a conflict between two associations or camps will have a bad impact on the global economy.

I hope this doesn't happen because if it could happen this year it would most likely have an impact on all markets including the crypto market itself. So I just hope that the impact of the war between the two countries doesn't really affect the market if indeed the war cannot be avoided because each country still has an ego in showing their own abilities.

[topbitcoin]

Q4 this year might be a special year for bitcoin, there is a lot of bullish sentiment from the economic macro for bitcoin, even if the correction returns in my opinion it will not be separated from the price of $56k, this will not be repeated if you see the current situation.

I also think so, but every different possibility can always happen in the market so everyone must also be more prepared to face the level of Bitcoin price correction in the market when approaching Q4 this year. Although I am still more optimistic about the price increase at the end of this year because there are many parties who are happy enough to buy Bitcoin and continue to hold it until now.

Of course even though we are optimistic about the bitcoin outlook in Q4 but we also have to understand because the name of disaster is not in anyone's calendar, something that cannot be predicted always comes and it is a mystery in a future journey, we must really understand the possibility of bad even though it is quite optimistic bullish in front of the eyes in order to manage the risks we can take at this time.

The biggest fear is the escalation of the war between Iran and Israel, if this involves more countries in conflict it could be the worst negative thing, we know that these two countries have their loyal friends in running their business and strong government, if it comes to blocking the industry it could and become a conflict between two associations or camps will have a bad impact on the global economy.

I hope this doesn't happen because if it could happen this year it would most likely have an impact on all markets including the crypto market itself. So I just hope that the impact of the war between the two countries doesn't really affect the market if indeed the war cannot be avoided because each country still has an ego in showing their own abilities.

Yes you are not alone in such expectations, because if it affects the global economy it will be very painful for any market including bitcoin, hopefully it does not affect bitcoin at large, and the fear is just like a war like the wind.