Bitcoin prediction thread for July

[Iranus]

The current market situation has been relatively good since the beginning of this month, the price of Bitcoin in July is in a much better position than before. I do not see any possibility of the price of Bitcoin down $50,000 this month, I expect the price of Bitcoin to be between $65,000 and $70,000 in July and the price of Bitcoin may increase further in the coming month. The quickly fall or increase in the price of Bitcoin makes this process more attractive to general people to investing.

Based on how the market has moved since the start of the month, there is nothing wrong with thinking Bitcoin is unlikely to drop to $50k this month. But I would not rule it out completely.

The bear market is not over yet, and all it take is one event to change market sentiment and send the price the other way.

Bitcoin was above $80k in May, then fell below $60k in June. So I do not think it makes sense to base longer term prediction, or even next month's outlook on short term price action alone.

[coinrifft]

Based on how the market has moved since the start of the month, there is nothing wrong with thinking Bitcoin is unlikely to drop to $50k this month. But I would not rule it out completely.

The bear market is not over yet, and all it take is one event to change market sentiment and send the price the other way.

Bitcoin was above $80k in May, then fell below $60k in June. So I do not think it makes sense to base longer term prediction, or even next month's outlook on short term price action alone.

We are not yet in the middle of the bear market, so with that, there are a lot of things that can happen in the price, and one of them is dropping to $50k. So we need to bear in our mind that is possible, so that we can prepare ourselves.

But the thing is that even if we know that the price is possible to drop, there could still be some investors that are not willing to buy and still waiting for more price drop. So if that is the case they might missed that perfect opportunity to buy at a discount price.

[arwin100]

Based on how the market has moved since the start of the month, there is nothing wrong with thinking Bitcoin is unlikely to drop to $50k this month. But I would not rule it out completely.

The bear market is not over yet, and all it take is one event to change market sentiment and send the price the other way.

Bitcoin was above $80k in May, then fell below $60k in June. So I do not think it makes sense to base longer term prediction, or even next month's outlook on short term price action alone.

We are not yet in the middle of the bear market, so with that, there are a lot of things that can happen in the price, and one of them is dropping to $50k. So we need to bear in our mind that is possible, so that we can prepare ourselves.

But the thing is that even if we know that the price is possible to drop, there could still be some investors that are not willing to buy and still waiting for more price drop. So if that is the case they might missed that perfect opportunity to buy at a discount price.

That $50k drop is eventually possible and preparing for that situation to come is good action to do. But if we look closely on the situation now, how long those people will wait to see the price would go down for more.

Because its rare to see a perfect bottom, since its hard to identify if we are already seeing that. So to much waiting will make them miss on those good price which is supposed to be good to accumulate. That's why I don't like to engage on that waiting matters and just like to be consistent upon accumulating since this is best thing to do on Bitcoin.

[dwyane36]

Based on how the market has moved since the start of the month, there is nothing wrong with thinking Bitcoin is unlikely to drop to $50k this month. But I would not rule it out completely.

The bear market is not over yet, and all it take is one event to change market sentiment and send the price the other way.

Bitcoin was above $80k in May, then fell below $60k in June. So I do not think it makes sense to base longer term prediction, or even next month's outlook on short term price action alone.

Unless there are any major market disruptions, BTC will most likely not drop to $50k this month. Personally, I think that in July, BTC will either consolidate within a narrow range or show slight growth; that is, it will correct slightly after the dump. Overall, even if July closes with a green candle, the bearish scenario will still be on the table for the next 2-3 months, and reaching $50k is only a matter of time.

[pooya87]

For the time being we should get comfortable with seeing sideways market. Price may not go either up or down for quite some time. So for now since price is on the rise, I'll keep an eye on $65k-$65.5k levels and if that breaks we can enter a bull run, even a short one for a little while. Otherwise the sideways it is for the rest of July.

And if recession gets any worse I'll keep an eye on $58k support and if that breaks then we end the sideways too in a bad way...

[cyberninja2]

That $50k drop is eventually possible and preparing for that situation to come is good action to do. But if we look closely on the situation now, how long those people will wait to see the price would go down for more.

Because its rare to see a perfect bottom, since its hard to identify if we are already seeing that. So to much waiting will make them miss on those good price which is supposed to be good to accumulate. That's why I don't like to engage on that waiting matters and just like to be consistent upon accumulating since this is best thing to do on Bitcoin.

However, in recent months the price hasn't dropped as much as you mentioned it only briefly dipped to $59,000, and that didn't last long. This shows that the current market price is still very consistent at $60,000 and above. However when opportunities like this arise we need to accumulate Bitcoin to increase our assets for the future. Prices like this rarely occur and today there's a slight upward movement. However for those who want to buy it's still very worthwhile.

As I said earlier situations like this don't require delaying purchases as this could lead to missed opportunities for those of us who sometimes have enough income to increase our BTC holdings. Therefore it's important to accumulate any amount. Basically this opportunity requires us to remain consistent in accumulating towards our desired amount especially when buying large amounts. I think this is the best step for those who consistently and regularly purchase BTC.