Bitcoin slides below $59k

[Rhema_Artz]

Wasnt expecting the price to fell any below $60k dols though... But, since it rises with the same tension an pressure it does decrease... There's hope probably the ATH before this Year ends would be Celebrated at $100k+

[serjent05]

if bitcoin keeps having these type of "corrections" i don't see how it ever is going to reach $1 million. or even $100,000.

Do not forget that in every correction Bitcoin always positions itself to another rally despite the possibility of going a bit lower.  This is the beauty of a highly volatile market and high speculative investment especially when it has high liquidity.

The high volatility of Bitcoin gives windows for reaccumulation and at the same time taking profit.  This cycle keeps the hype of the market stronger and give holders a sense of trust on the ability of the market to rebound.

That said this type of correction gives new and old investors to put more funds into the market giving the market more solid liquidity and making the market gain more trust and eventually create a speculative of possible higher ATH speculation.

[hyudien]

Wasnt expecting the price to fell any below $60k dols though... But, since it rises with the same tension an pressure it does decrease... There's hope probably the ATH before this Year ends would be Celebrated at $100k+

I am sure that $100K will be achieved but it does not mean that it will happen in a short time. Correction is a common thing and good for our growth in collecting more Sats. We need correction to show that bitcoin is running in a healthy market. If you are an investor who is ready to profit, then you must also be ready for the correction and that is the point where you are given time to breathe more deeply.

$100K is not impossible for bitcoin to achieve, even $1 million can be realized if we have a long life, as long as electricity and the Internet still exist.

[Peanutswar]

Until now the market goes with the sideways it makes having a play around the 55k to 61k and still now the Bitcoin doesn't beat the last price which is 70k and people keep wanting this happen so they can buy more and it's seems like a sign that the Bitcoin has a potential to rose up more this year. If I've seen this price possible people get hype with the market and get FOMO to buy more so possible we beat the 80k immediately. Again it's the current ATH last time with the 60k so expect more to come.

[WatChe]

I am sure that $100K will be achieved but it does not mean that it will happen in a short time. Correction is a common thing and good for our growth in collecting more Sats. We need correction to show that bitcoin is running in a healthy market. If you are an investor who is ready to profit, then you must also be ready for the correction and that is the point where you are given time to breathe more deeply.

$100K is not impossible for bitcoin to achieve, even $1 million can be realized if we have a long life, as long as electricity and the Internet still exist.

This correction was very much expected since Bitcoin has spend lots of time in 60 to 70k range. But this is not the first time (in last 6 months) that Bitcoin has gone down below 60k, we have seen previous dips below 60k and saw Bitcoin recovering very quickly. Those who have extra cash must think of investing in Bitcoin at current dip. Price of Bitcoin has gone down but it will very soon be back over 60k. DYOR 

[dezoel]

Think about what you could buy with 1$ five years ago and now think what you can buy with that 1$. The USA prints the dollar like crazy and inflation hits hard. 1$ is 1$ today but it's 0.9$ tomorrow, 0.8$ the day after tomorrow and etc...

To be fair, one dollar seems like a wrong decision for an example lol, you couldn't buy anything for a dollar five years ago, and not like you can buy much with it today neither.

But yeah, you are right with the idea, what worths something five years ago, worths a lot more now. So what can we do? We could keep on complaining about it, and that's going to end up not helping us at all, life is pretty serious and troublesome and its not looking good for the future neither. Or, we could use this information for our future and make more money, isn't that better?

We know that things go up in price, we also know that USA (or all other nations) print money like crazy, so what can we do to help us? What can we do to make sure that this system could profit us? We could just learn to use this in our advantage, and in return we could make a good profit from it, smarter isn't it? That way we could say that its going to actually be a profitable thing for all of us. That is just a simple idea, make inflation your helper, not your enemy.

[Z-tight]

Wasnt expecting the price to fell any below $60k dols though... But, since it rises with the same tension an pressure it does decrease... There's hope probably the ATH before this Year ends would be Celebrated at $100k+

I am not so sure about $100k+ before this year ends, it may happen before the end of this cycle which should be next year, but it isn't looking possible this year, i think anything around and just above $75k is possible this year, but i don't have crystal balls so i might be so wrong in what i said. And to op, corrections will always happen, as long as BTC is volatile, though the volatility would reduce in the future.

[Dave1]

Wasnt expecting the price to fell any below $60k dols though... But, since it rises with the same tension an pressure it does decrease... There's hope probably the ATH before this Year ends would be Celebrated at $100k+

I am not so sure about $100k+ before this year ends, it may happen before the end of this cycle which should be next year, but it isn't looking possible this year, i think anything around and just above $75k is possible this year, but i don't have crystal balls so i might be so wrong in what i said. And to op, corrections will always happen, as long as BTC is volatile, though the volatility would reduce in the future.

Yeah, let's not put our hopes to high for this year and see Bitcoin reaches $100k. We have seen $73k already and so the first target will be obviously around $80k'ish at the end of the year. And with so many news in the background, like the geo-political avenue, might be hard to see that 6 digits.

But the thing is that we still have a whole year ahead of us, and if we look historically, every 4 years we have a huge bull run so I wouldn't discount that in 2025, we might see the price going as high as $100k or even higher.

[tread93]

The price of bitcoin (BTC) fell below the $59,000 threshold on Sunday, hitting a low of $58,080 per unit. Over the past 24 hours, bitcoin’s value has decreased by 3.5% against the U.S. dollar, and it has dropped 13% over the week.

https://news.bitcoin.com/market-mayhem-bitcoin-crashes-below-59k-223m-in-liquidations-as-south-koreas-premium-spikes/

if bitcoin keeps having these type of "corrections" i don't see how it ever is going to reach $1 million. or even $100,000.

Haha these media folks who make the commentary like this haven’t the faintest idea how it even works. Bitcoin is up trending year over year and it may take a while but 100k is very VERY close!

[OgNasty]

The price of bitcoin (BTC) fell below the $59,000 threshold on Sunday, hitting a low of $58,080 per unit. Over the past 24 hours, bitcoin’s value has decreased by 3.5% against the U.S. dollar, and it has dropped 13% over the week.

https://news.bitcoin.com/market-mayhem-bitcoin-crashes-below-59k-223m-in-liquidations-as-south-koreas-premium-spikes/

if bitcoin keeps having these type of "corrections" i don't see how it ever is going to reach $1 million. or even $100,000.

Haha these media folks who make the commentary like this haven’t the faintest idea how it even works. Bitcoin is up trending year over year and it may take a while but 100k is very VERY close!

Ya, corrections are nothing new.  Every cycle you can see on the chart that multiple 30% corrections along the way has been how Bitcoin has always acted.  Sure, there are plenty of concerns and ways that Bitcoin can fail, but corrections like we're seeing now are not a sign of it.  In fact, you could make the argument that it is a signal the market is working efficiently and removing excess leverage at every opportunity.  That isn't a bad thing for the health of a market.

[2Pizza410000BTC]

The price of bitcoin (BTC) fell below the $59,000 threshold on Sunday, hitting a low of $58,080 per unit. Over the past 24 hours, bitcoin’s value has decreased by 3.5% against the U.S. dollar, and it has dropped 13% over the week.

https://news.bitcoin.com/market-mayhem-bitcoin-crashes-below-59k-223m-in-liquidations-as-south-koreas-premium-spikes/

if bitcoin keeps having these type of "corrections" i don't see how it ever is going to reach $1 million. or even $100,000.

Yes, it's true that far from going up, the way the Bitcoin market has started to go down is down. If it goes down more than it goes up, it will look like Bitcoin is below $50k at one point. Many may say that by 2024 the price of Bitcoin will be $100k, but if it goes down like this, how is it possible for the Bitcoin market to reach $100k in 2024? If you think a little deeper it is also possible that the Bitcoin market does not take long to grow and within a short period of time the Bitcoin market can grow and cross the maximum. Because we've seen in the past when Bitcoin grows, it can grow very quickly in a short period of time. So let's see how the Bitcoin market can shape up in these few months as we still have a few months to go before the end of 2024.

[bubilas]

The price of bitcoin (BTC) fell below the $59,000 threshold on Sunday, hitting a low of $58,080 per unit. Over the past 24 hours, bitcoin’s value has decreased by 3.5% against the U.S. dollar, and it has dropped 13% over the week.

https://news.bitcoin.com/market-mayhem-bitcoin-crashes-below-59k-223m-in-liquidations-as-south-koreas-premium-spikes/

if bitcoin keeps having these type of "corrections" i don't see how it ever is going to reach $1 million. or even $100,000.

Haha these media folks who make the commentary like this haven’t the faintest idea how it even works. Bitcoin is up trending year over year and it may take a while but 100k is very VERY close!

Ya, corrections are nothing new.  Every cycle you can see on the chart that multiple 30% corrections along the way has been how Bitcoin has always acted.  Sure, there are plenty of concerns and ways that Bitcoin can fail, but corrections like we're seeing now are not a sign of it.  In fact, you could make the argument that it is a signal the market is working efficiently and removing excess leverage at every opportunity.  That isn't a bad thing for the health of a market.

I am absolutely right, because the cryptocurrency trading market is actually a living mechanism. It contains everything, and the psychology of people, and greed, and news of the world and cryptocurrencies. The price of Bitcoin is the quintessence of the entire news background, seething. And of course, it cannot but experience corrections. It would be strange if the Bitcoin chart only grew and grew, it would look like a fraud or a Ponzi.

[fuguebtc]

I am not so sure about $100k+ before this year ends, it may happen before the end of this cycle which should be next year, but it isn't looking possible this year, i think anything around and just above $75k is possible this year, but i don't have crystal balls so i might be so wrong in what i said. And to op, corrections will always happen, as long as BTC is volatile, though the volatility would reduce in the future.

Yeah, let's not put our hopes to high for this year and see Bitcoin reaches $100k. We have seen $73k already and so the first target will be obviously around $80k'ish at the end of the year. And with so many news in the background, like the geo-political avenue, might be hard to see that 6 digits.

But the thing is that we still have a whole year ahead of us, and if we look historically, every 4 years we have a huge bull run so I wouldn't discount that in 2025, we might see the price going as high as $100k or even higher.

I remember when bitcoin surpassed 69k$ and created a new ATH of 73k$, everyone believed that bitcoin would soon reach 6 digits this year. But with the correction lasting 4 months and bitcoin trading at $60K, people are pessimistic and no longer believe that bitcoin will reach 6 digits this year.

I think we should not lose optimism just because of bitcoin's short-term volatility. Not to mention, bitcoin is unpredictable and anything can happen, so expect bitcoin to hit $100k by the end of the year. That's not huge growth that bitcoin can't achieve.

[$crypto$]

if bitcoin keeps having these type of "corrections" i don't see how it ever is going to reach $1 million. or even $100,000.

$1M in the near future, it's impossible you have to be realistic in approaching bitcoin prices with the current situation if heading down the road $100K is still realistic compared to $1M.

The current price is still the same, meaning that this will be a long-term sideways I think monthly we will face pressure on the market because the global economy is said to be in recession, but believe that bitcoin can go to $100K, this is my first target.

[Antotena]

Wasnt expecting the price to fell any below $60k dols though... But, since it rises with the same tension an pressure it does decrease... There's hope probably the ATH before this Year ends would be Celebrated at $100k+

The sharp Bitcoin pumped hasn't be discussed since it happened and everyone just think it's fine. I mean, there should be a reason why Bitcoin just shoot up more than 10% but everyone was just happy. There shouldn't be reactions when it fall back to where it crawl out because I think it's just normal big players trying to make Bitcoin price from falling below $50k. It will be a long month work before the price will come back to this range again.

The $100k before the end of the year is only achievable if Trump win the US election else that November is going to be a lot of drama. I don't even know how this will be if it's announced that Kamala became the first lady to rule United state, Bitcoin Wil suffer this but I hope Trump win so we can see Bitcoin price in that range before the end of the year.

[darkangel11]

I don't care. Bitcoin is eventually going above $100k and it's inevitable. The only question is when. Most likely in this cycle, but the cycle can extend to the end of 2025 and we all should be aware of that.
Does it matter though? Let's say you hold 1 bitcoin and it's at $60k now. Are you going to make $40k in 12 months? Are you able to make that from any other investment? If not than you shouldn't worry as your money is in the best place that it can be.

[larry_vw_1955]

I don't care. Bitcoin is eventually going above $100k and it's inevitable. The only question is when. Most likely in this cycle, but the cycle can extend to the end of 2025 and we all should be aware of that.
Does it matter though? Let's say you hold 1 bitcoin and it's at $60k now. Are you going to make $40k in 12 months? Are you able to make that from any other investment? If not than you shouldn't worry as your money is in the best place that it can be.

if thats really true that bitcoin is going to 100k in a year then what is everyone waiting for ? why aren't they buying more of it right now so they can make even more money? why not get a loan so you can really go all in? max out your credit cards, mortgage the house, do it all. you're going to get rich.

[Marvell1]

I don't care. Bitcoin is eventually going above $100k and it's inevitable. The only question is when. Most likely in this cycle, but the cycle can extend to the end of 2025 and we all should be aware of that.
Does it matter though? Let's say you hold 1 bitcoin and it's at $60k now. Are you going to make $40k in 12 months? Are you able to make that from any other investment? If not than you shouldn't worry as your money is in the best place that it can be.

if thats really true that bitcoin is going to 100k in a year then what is everyone waiting for ? why aren't they buying more of it right now so they can make even more money? why not get a loan so you can really go all in? max out your credit cards, mortgage the house, do it all. you're going to get rich.

The future is unpredictable, there is no guarantee that bitcoin will definitely reach 100k USD in 2025 or the future. But once you are a bitcoin investor, you should have faith in it, you need to believe in your choice. If you do not have confidence in bitcoin, you should sell it immediately because no one forces you to invest in bitcoin.

In addition, if you want high profits and want things others don't have, you need to accept risks and trade-offs. If you want to earn x2, x5 profits, you need to accept the risk that you can lose everything, everything is proportional to each other, high profits will have high risks and there needs to be a trade-off.

[Huppercase]

The price of bitcoin (BTC) fell below the $59,000 threshold on Sunday, hitting a low of $58,080 per unit. Over the past 24 hours, bitcoin’s value has decreased by 3.5% against the U.S. dollar, and it has dropped 13% over the week.

https://news.bitcoin.com/market-mayhem-bitcoin-crashes-below-59k-223m-in-liquidations-as-south-koreas-premium-spikes/

if bitcoin keeps having these type of "corrections" i don't see how it ever is going to reach $1 million. or even $100,000.

Who feed yiu with this $1 million price a Bitcoin? It seems you guys don't do your research before you says number but I want you to know that Bitcoin price to a million dollars is very impossible, maybe not right now but probably in the future. We need to see the price to break through $100k before we can even talk about the million dollar journey because the kind of liquidity needed to push that price to that level is many times the market cap we have achieved so far.

Bitcoin has done this in the past and it survive, I don't know why you are scared about this small correction. Even in the stock market, the market don't move in a straight line candle, only ponzi schemes moves like that but real investment go up and down due to market sentiment and so does Bitcoin. If you want to see $100k and above for Bitcoin, you really need to tight your belt and don't get carried away by this short problems.

[larry_vw_1955]

Who feed yiu with this $1 million price a Bitcoin?

from time to time, i happen to see people saying stuff like that. whether it's 250k or 1 million. i'm tired of it.



Moreover, crypto entrepreneur and BitMEX’s ex-CEO Arthur Hayes predicts that bitcoin might even spike all the way up to $1 million during the current market cycle.

“The bitcoin price in this cycle is going to go very, very high,” Hayes told DL News recently. “Hundreds of thousands of dollars, maybe $1 million.”

https://www.msn.com/en-us/money/markets/bitcoin-bounces-back-after-market-jitters-arthur-hayes-forecasts-1-million/ar-AA1oxmh7

It seems you guys don't do your research before you says number but I want you to know that Bitcoin price to a million dollars is very impossible,

most people consider research as reading articles on websites. and this one said bitcoin was going to $1 million. whether MSN endorses that point of view is immaterial.