Bitcoin - is the bear market bottom in?

[Popkon6]

I do feel though that was can go back to the $65k range again to see a higher low and I'm actually hoping for that again to buy cheap one last time before bull run is here for next few years.

How are we all feeling? Is the bottom in or not?

Look, the bear market is not over yet, but where we are, the price of Bitcoin is slightly upward. However, according to the Bitcoin chart, we are still in the bear market, because we should be patient for a long time to go until the bull season. So in this current situation, you cannot sell your main holdings based on the upward trend of the Bitcoin price, because after this sharp decline, the price of Bitcoin has naturally improved a little.
However, the more patient you are, the more benefits you will get, so we should be patient in investing in Bitcoin and this is for the next few years. Since we are not investing in Bitcoin for a short period of time, we will not panic in this natural upward trend.

[Bushdark]

I do feel though that was can go back to the $65k range again to see a higher low and I'm actually hoping for that again to buy cheap one last time before bull run is here for next few years.

How are we all feeling? Is the bottom in or not?

Look, the bear market is not over yet, but where we are, the price of Bitcoin is slightly upward. However, according to the Bitcoin chart, we are still in the bear market, because we should be patient for a long time to go until the bull season. So in this current situation, you cannot sell your main holdings based on the upward trend of the Bitcoin price, because after this sharp decline, the price of Bitcoin has naturally improved a little.
However, the more patient you are, the more benefits you will get, so we should be patient in investing in Bitcoin and this is for the next few years. Since we are not investing in Bitcoin for a short period of time, we will not panic in this natural upward trend.

Everytime the price of Bitcoin goes up, there are investors that will be thinking and also anticipating whether we have left the bear market and heading to the bull market. This is not the time to anticipate on the bull market since we are not yet done with the bear market. The price of Bitcoin can set up a bull trap that can make desperate investors to lose money quickly if they are looking for quick way to make profits from the market. The market will shine the right time and I have always tried to take my attention from the market since I can easily make loses when emotions and desparation is attached to either investing or trading.

[JamesDaniel90]

Bitcoin just hit $85k, pretty sure now the July bottom of $58.5k will be the bear market bottom for this cycle.

But what does it mean for those who believe in the 4 year cycle? Looks like that is dead too now also as that would mean the low came just 7 months after the high when previous cycles it was always around 12 months.

I think people need to realise Bitcoin doesn’t follow a calendar but it follows macro conditions which are a lot better now compared to recent years. I’m expecting a new high for bitcoin within 6 months.

[Smack That Ace]

Bitcoin just hit $85k, pretty sure now the July bottom of $58.5k will be the bear market bottom for this cycle.

But what does it mean for those who believe in the 4 year cycle? Looks like that is dead too now also as that would mean the low came just 7 months after the high when previous cycles it was always around 12 months.

I think people need to realise Bitcoin doesn’t follow a calendar but it follows macro conditions which are a lot better now compared to recent years. I’m excepting a new high for bitcoin within 6 months.

I kinda agree with you, maybe we've already found the bottom. $57k could be the bottom for this cycle, and we're likely heading into an accumulation phase before an actual bull run kicks in.

As for the cycle, it's still repeating, but yeah, there have been some changes and differences. Makes sense tho, since the backdrop and what's driving the market each year isn't exactly the same. We can't expect the market to repeat itself down to every little detail like it's some calendar that everyone can predict.

New ATH within the next 6 months? Aren't you a bit too high on hopium here,  ?

[Iranus]

I’m surprised Bitcoin has stayed at these levels for so long. I wonder if the prices we saw around $60,000 were the lows of this cycle. If so, I think Bitcoin has dropped very little. Compared to previous bear markets, we’ve seen almost nothing in this one. Most people’s expectations haven’t been met. There were also people waiting to buy Bitcoin below $50,000, and even below $40,000.

If $57k was the bottom, then Bitcoin dropped around 50%, which is less compared to previous bear markets. But using past drawdowns as some kind of benchmark can be misleading. In reality, Bitcoin hasn't even done 2x from the previous ATH, so its only natural that the drawdown is smaller.

I did predict it could go down to $50k if the economic backdrop turned bad, but that was just a possibility, not something to bank on. Anyone sitting around waiting for that exact number to start buying isn't playing it smart.

[Cheema02]

Although, my analysis is telling me that Bitcoin won't go below the $58k low again, but despite that price is rejecting around the $75k level doesn't really mean that it won't dip below it, I still think price will go to $60k once again before it can finally start going up and not come down to that level again. I won't say that Bitcoin has actually lost interest to return below $70k like you said, buyers are defending that zone but if it got exhausted, definitely we are going to see price breaks below it.

I actually had the same thought before when Bitcoin went to $82k and then started dropping again and went around $75k, but the rejection at $75k made me rethink about the situation, and now it feels like we might not see a $20k dip from here because for the price to reach $60k or go lower than that, it will need to drop more than $20k now because the price has already crossed $80k once again. I think the next few weeks are going to be very important, because they are going to show us what is actually going to happen.

If the price could break below the support at $75k, then we may see another trip towards $60k in the coming months, and it might even go below $60k. However, if it goes above $85k or around $90k, I guess we are only going to see gradual growth and minimal drops from that point onwards. Those who didn't fill their bags when Bitcoin went to $58k previously are probably regretting their decisions already or will regret it if it goes above $90k in the upcoming days.

[Doll2233]

I kinda agree with you, maybe we've already found the bottom. $57k could be the bottom for this cycle, and we're likely heading into an accumulation phase before an actual bull run kicks in.

As for the cycle, it's still repeating, but yeah, there have been some changes and differences. Makes sense tho, since the backdrop and what's driving the market each year isn't exactly the same. We can't expect the market to repeat itself down to every little detail like it's some calendar that everyone can predict.

New ATH within the next 6 months? Aren't you a bit too high on hopium here,  ?

Bitcoin's unpredictable nature is always bring surprises for investors in September things are getting positive while now touching of $85K is also positive sign most are expecting now bullish trend is already started but still peoples needed to be careful because now its also time for whales to cashout this can bring some negativity.
Crossing $82K is good now need to keep this momentum because its going to be give good confidence even nothing is guaranteed but as market is moving most chances its going to be stay on good level and $57K is not coming again in near future about new ATH I am also sure its coming soon because few good things happening and market will give good response for bullish trend its going to be stay for long time if nothing seriou damage happen.

[laspol65]

How are we all feeling? Is the bottom in or not?

Look, we have a long way to go to get to the next job, so we can't call this short period of time a Bitcoin bull run. The current Bitcoin price has naturally improved, there will be more in the future, but this will be the most interesting because investors have shown more interest due to the untimely increase in Bitcoin prices. I think the Bitcoin price will reach an all-time high in the next Bull Run season and the price of half a million Bitcoins can reach it.
Because as time goes by, the possibility of a record Bitcoin price is emerging, so you must also hold Bitcoin before reaching this Bull Run season.

[l99l]

While the talk at the beginning of the month was about the $58,500 mark, Bitcoin has reached as high as $87,000 today.
That is precisely the appeal of Bitcoin. A few months ago, friends told me they were considering making weekly investments in Bitcoin
I told them there was no need to wait, and when we spoke today, we were all happy. There has been a significant rise in a short period, and it is all thanks to Bitcoin.

[JamesDaniel90]

Bitcoin just hit $85k, pretty sure now the July bottom of $58.5k will be the bear market bottom for this cycle.

But what does it mean for those who believe in the 4 year cycle? Looks like that is dead too now also as that would mean the low came just 7 months after the high when previous cycles it was always around 12 months.

I think people need to realise Bitcoin doesn’t follow a calendar but it follows macro conditions which are a lot better now compared to recent years. I’m excepting a new high for bitcoin within 6 months.

I kinda agree with you, maybe we've already found the bottom. $57k could be the bottom for this cycle, and we're likely heading into an accumulation phase before an actual bull run kicks in.

As for the cycle, it's still repeating, but yeah, there have been some changes and differences. Makes sense tho, since the backdrop and what's driving the market each year isn't exactly the same. We can't expect the market to repeat itself down to every little detail like it's some calendar that everyone can predict.

New ATH within the next 6 months? Aren't you a bit too high on hopium here,  ?

Bitcoin has gone from the $58.5k low early July to $87k today. That is a +50% in just under 12 weeks.

So going from $87k today to the $126k high would mean a move of +45%.

If it can pump 50% in less than 3 months, then why can’t it pump 45% in 6 months?

I expect a pull back, but when things start looking good for crypto again Bitcoin moves fast like we have seen in recent weeks so I wouldn’t be surprised if we see a new high for Bitcoin by end of March next year, it may even come by end of January.

[blockman]

Bitcoin has gone from the $58.5k low early July to $87k today. That is a +50% in just under 12 weeks.

So going from $87k today to the $126k high would mean a move of +45%.

If it can pump 50% in less than 3 months, then why can’t it pump 45% in 6 months?

I expect a pull back, but when things start looking good for crypto again Bitcoin moves fast like we have seen in recent weeks so I wouldn’t be surprised if we see a new high for Bitcoin by end of March next year, it may even come by end of January.

We've seen a pull back already when there was a barrier at $80k but it has just been broken after that pull back. But as with these usual moves of Bitcoin, we know that there will be a follow up correction afterwards. And for it to ask why it can't pump that much in 6 months is for Bitcoin to show the answer to it. There are factors that determines its push and some news related to the government just like the clarity act. To expect a new high by March 2027 would be amazing but, I'm going to protect myself from not expecting it like as you do.

[SamReomo]

If it can pump 50% in less than 3 months, then why can’t it pump 45% in 6 months?

I can and it most probably will pump but before that pump there will be some correction and it depends on those corrections that whether in 6 months Bitcoin will go up by 45% or not. Personally, I think it'll reach or at least cross $100k within next 6 months if things go well and when things go extremely well then it might cross even $110k within next 6 months but again we'll have to see that throughout that way how many corrections it will face.

[Smack That Ace]

Bitcoin has gone from the $58.5k low early July to $87k today. That is a +50% in just under 12 weeks.

So going from $87k today to the $126k high would mean a move of +45%.

If it can pump 50% in less than 3 months, then why can’t it pump 45% in 6 months?

I expect a pull back, but when things start looking good for crypto again Bitcoin moves fast like we have seen in recent weeks so I wouldn’t be surprised if we see a new high for Bitcoin by end of March next year, it may even come by end of January.

Bruv, things aren't that simple. You can't judge bitcoin's whole trend just off a few week of price movement, or just cause it hit some specific number.
By your logic, do you realize that compared to the current price, Bitcoin is only up around 20% from the 2021 ATH of $69k?

Bitcoin is a very volatile asset. A 50% move up from the bottom doesn't create some kind of rule that Bitcoin will keep going another 45% over the next few months.

I'm not ruling out bitcoin hitting ATH in the next few months, but don't get too confident on that just off a few weeks of gains. The opposite could still happen.

[CryptoBuds]

Bitcoin has gone from the $58.5k low early July to $87k today. That is a +50% in just under 12 weeks.

So going from $87k today to the $126k high would mean a move of +45%.

If it can pump 50% in less than 3 months, then why can’t it pump 45% in 6 months?

I expect a pull back, but when things start looking good for crypto again Bitcoin moves fast like we have seen in recent weeks so I wouldn’t be surprised if we see a new high for Bitcoin by end of March next year, it may even come by end of January.

Your bullish remind me of what happened back in June. Despite the war, bitcoin pumped from the $60k zone to $83k.
Back then, everyone was hyped and calling for it to hit $100k soon and break ATH before year end. But it dumped hard and swept a fresh local low. Classic crypto .

I'm not saying the same thing will happen again and tbh, I have no idea what comes next either. I'm just saying that anything can happen. Don't just make a one sided prediction and convince yourself it's gonna play out exactly the way we want.

Instead of expecting Bitcoin to pull off another 50% leg up, I'm staying cautious because market doesn't just go straight up in a parabolic move. Especially when we haven't even confirmed whether the bear market is over yet.

[FinneysTrueVision]

Bitcoin breaking to the upside on Monday instead of retracing, like some bears had been predicting seems like a solid indicator that the bear market is over. We only had a minor pullback after the short squeeze a few weeks ago, but overall, price action has looked healthy. Sentiment is also improving with regards to crypto, despite there still being fears about the economy and global politics.

[JamesDaniel90]

Bitcoin has gone from the $58.5k low early July to $87k today. That is a +50% in just under 12 weeks.

So going from $87k today to the $126k high would mean a move of +45%.

If it can pump 50% in less than 3 months, then why can’t it pump 45% in 6 months?

I expect a pull back, but when things start looking good for crypto again Bitcoin moves fast like we have seen in recent weeks so I wouldn’t be surprised if we see a new high for Bitcoin by end of March next year, it may even come by end of January.

Bruv, things aren't that simple. You can't judge bitcoin's whole trend just off a few week of price movement, or just cause it hit some specific number.
By your logic, do you realize that compared to the current price, Bitcoin is only up around 20% from the 2021 ATH of $69k?

Bitcoin is a very volatile asset. A 50% move up from the bottom doesn't create some kind of rule that Bitcoin will keep going another 45% over the next few months.

I'm not ruling out bitcoin hitting ATH in the next few months, but don't get too confident on that just off a few weeks of gains. The opposite could still happen.

You asked me if it was too much hopium. I was just giving facts to how it’s possible.

It could go either way, in the short term, next few months but I expect $100k by end of year and then it will only be a 26% move from there to new highs which could then easily happen by end of March.

[puloweh555]

Bitcoin just hit $85k, pretty sure now the July bottom of $58.5k will be the bear market bottom for this cycle.

But what does it mean for those who believe in the 4 year cycle? Looks like that is dead too now also as that would mean the low came just 7 months after the high when previous cycles it was always around 12 months.

I think people need to realise Bitcoin doesn’t follow a calendar but it follows macro conditions which are a lot better now compared to recent years. I’m excepting a new high for bitcoin within 6 months.

Yeah. Looking at Bitcoin's current price, it's already broken $85k, and most likely we've already passed the lowest point a few months ago, which was around $58,500. It really seems hard for the price to drop below $58k, so just keep doing DCA on Bitcoin and don’t wait for the lowest price because we’ve already passed it. 

Sure, if you look at the cycle it’s also very different from the previous cycle, but the pattern is still the same. The gap is only seven months from the previous ATH, which is much shorter compared to the historical 12–18 month pattern. This is also what makes, in theory, the four-year cycle harder to maintain because a few Bitcoin factors can influence many indicators, starting from macro conditions, looser global liquidity and interest rates tending to fall. Instead of waiting for Bitcoin to drop, it’s better to keep doing DCA because Bitcoin might hit a new ATH in the next few months.

[fredericktaylor]

I kinda agree with you, maybe we've already found the bottom. $57k could be the bottom for this cycle, and we're likely heading into an accumulation phase before an actual bull run kicks in.

As for the cycle, it's still repeating, but yeah, there have been some changes and differences. Makes sense tho, since the backdrop and what's driving the market each year isn't exactly the same. We can't expect the market to repeat itself down to every little detail like it's some calendar that everyone can predict.

New ATH within the next 6 months? Aren't you a bit too high on hopium here,  ?

Bitcoin's unpredictable nature is always bring surprises for investors in September things are getting positive while now touching of $85K is also positive sign most are expecting now bullish trend is already started but still peoples needed to be careful because now its also time for whales to cashout this can bring some negativity.
Crossing $82K is good now need to keep this momentum because its going to be give good confidence even nothing is guaranteed but as market is moving most chances its going to be stay on good level and $57K is not coming again in near future about new ATH I am also sure its coming soon because few good things happening and market will give good response for bullish trend its going to be stay for long time if nothing seriou damage happen.

The rise in the price of Bitcoin is a really exciting thing but it is not right to be overconfident. The situation is good but it is not certain how long it will remain stable, so we need to be aware so that we do not panic quickly if the price of Bitcoin decreases. If the price of Bitcoin remains stable and continues to increase at this pace, we can see $95K to $100K, but it is not possible to be sure in advance how much the price of Bitcoin will increase. If this process continues for a long time, we will see the ATH of Bitcoin ever.

[Derekfunds]

How are we all feeling? Is the bottom in or not?

Look, we have a long way to go to get to the next job, so we can't call this short period of time a Bitcoin bull run. The current Bitcoin price has naturally improved, there will be more in the future, but this will be the most interesting because investors have shown more interest due to the untimely increase in Bitcoin prices. I think the Bitcoin price will reach an all-time high in the next Bull Run season and the price of half a million Bitcoins can reach it.
Because as time goes by, the possibility of a record Bitcoin price is emerging, so you must also hold Bitcoin before reaching this Bull Run season.

You are right, calling the short move a bull run won't be totally correct because Bitcoin is still bearish if you ask me reason because the highest high is $126k and now what is the price? $87k so where is the bull run. Bitcoin is about to rally which is very much correct but not bull run yet and untill Bitcoin breark that supply that led to the bearish we are seeing now I will never be bullish in the HTF but as a trader the bias will be bullish in the internal structure.

[Rabata]

How are we all feeling? Is the bottom in or not?

Look, we have a long way to go to get to the next job, so we can't call this short period of time a Bitcoin bull run. The current Bitcoin price has naturally improved, there will be more in the future, but this will be the most interesting because investors have shown more interest due to the untimely increase in Bitcoin prices. I think the Bitcoin price will reach an all-time high in the next Bull Run season and the price of half a million Bitcoins can reach it.
Because as time goes by, the possibility of a record Bitcoin price is emerging, so you must also hold Bitcoin before reaching this Bull Run season.

You are right, calling the short move a bull run won't be totally correct because Bitcoin is still bearish if you ask me reason because the highest high is $126k and now what is the price? $87k so where is the bull run. Bitcoin is about to rally which is very much correct but not bull run yet and untill Bitcoin breark that supply that led to the bearish we are seeing now I will never be bullish in the HTF but as a trader the bias will be bullish in the internal structure.

We will have to wait for more time to understand whether the bull run has actually started or not. It is true that if we can surpass the previous highest price, we can consider it as a bull run, but the way the market is changing at the moment, if it continues for a few days, then the current period can definitely be called the beginning of a bullish movement. Usually, before a bullish movement, the attitude of investors is almost the same, at that time everyone is confident that the market will be bullish and ultimately there is a massive increase in investment in the market. At the present time, there is also a lot of investment, especially the situation of the global war, which is creating such uncertainty that investors are now trying to save themselves from inflation. There has already been a massive increase in investment in the market and it is expected to increase in the future. We may be close to a bullish movement.