What do you guys think about this prediction?
I found an article that talks about it.
We’ve been discussing the $53,000 mark for Bitcoin, and now there’s this new analysis that suggests it’s heading there. Initially, I thought the bottom would be around $47,000 or $48,000 last year before it hit its all-time high, but then I adjusted my target to $59,000. Sure, Bitcoin might dip below those levels, but I'm convinced it's not dropping under $50,000, as I’ve mentioned before, even if it goes past $57,000 or $59,000. If things go really bad, I doubt it will go below $47,000 or $48,000.
I came across one analyst predicting $53,000, and today I saw another one aiming for $54,000.
I think these forecasts hold some weight. What are your thoughts?
Bitcoin may not go be low $40,000 this season, but making a precise prediction of $47,000 or $48,000 may not be accurate enough to see the market perform in the same manner, I know many can make their own speculations in diverse means, but let's talk about the reality if at all we have something below $50,000 this bear season, we can't predict the exact range this market may fall to, this is where I also have much confidence that they will still be more fall of the market and not the recent falls mark the end of the bear, everyone is trying to make his own research and see what he could deduce from the speculation made over the market this month and beyond.
This are not all those ridiculous analysis that you see some haters calling themselves analysts do like calling a $15k, yes we all know that bitcoin isnt immune if the entire market is hit badly by negative news, but aside that there are lows that are no longer realistic to be reached again in my opinion.
Now to the $54k price I think its one of the most realistic lows that we had earlier predicted, I was predicting lower than that price as the bottom for this year. Lets not even use technical analysis to address it but lets use past trend as an analysis. Bitcoin in the last bearish market went as low as 75% from its all time high, so even if the price goes as low as $54k which is just 57% down from the current all time it would be realistic.
I was predicting a low as a 60% in this bearish market due to maybe the reduce volatility
What do you expect from those that are waiting for Bitcoin to dip to their own preferred price and trying to create funds around the market, I don't call the Bitcoin price analyst but more of gambler's who are trying so hard to see Bitcoin down so as to fill the bag holdings, but we already know that is going to be hard to see Bitcoin price dropping to that price.
It's no joke that currently there are many crypto experts who express their opinions regarding current and future Bitcoin speculation and predictions, It is not strange if Bitcoin falls to the $54k level before the halving occurs and a new ATH is formed, that situation is legitimate.
The point is that we ourselves must have beliefs and principles, remember that what we think doesn't necessarily happen and what we don't think about is what happens, that's how the crypto market is, The point is that in the crypto world what determines us to be successful is ourselves, other people's speculation is only an example and comparison.
Well, the image he shows is indeed a flag, but we already see the result: the flag breaks and fails to break to the $60k level, and it looks more like a liquidity grab under $59k. Now it's gradually rising again, but we do not know if this is just accumulation or retracement before it drops again.
His prediction could be right or not, but that pattern, the bear flag, is pretty common, and most likely it happens. Since we are still bearish in the higher time frame, the chances to hit $54k or below $60k are still high until we see the price break this $60k level.
For as a trader, I wait for breakouts first with better confirmation about the trend because I don't see a clear picture yet for a trend. I'm not eager to go into entry. I'm still waiting for a clear trend.
If all it does is move Bitcoin to 54k then its not a big deal, we already moved far more so what's another 10,000 between friends. Its not the number that matters but what happens when reaching that projected target, quite often the low is merely momentary and bounces right back up. Do we care about a price that only exits for five minutes.
If 54k is to be the top price for the next 10 months or so then I guess it would be far more disappointing. Thats possible but my general expectation is not we enter a period of hard money all of a sudden.
Thats quite possible. The trend this year has been downwards, and although a resistance level seems to have formed at $60,000, yesterday we already fell to $59,350. So, a drop to those levels is to be expected, but once we get there, I dont see why the price couldnt fall further.
Going to be a big deal when you take into account Strategy's nav that will bring a big fud if that thing become disastrous. But if $54,000 is the bottom, it will be a good news.
Whatever it is that will happen, I hope the bottom for this bearish isn't going sub $40,000 for a higher ATH 3 years into the future.
This is also what I'm seeing, since we are in the heart of the bear market, anything is possible, even a downward spiral to $54k. But there should be a black swan event that will challenge the investors and might give in by selling.
Of course, we wanted to see it get validated first before making a moved. And so we can only take that action after, not prior so the risk is not there. Although if we see the price breaking down to $54k, then we should grab that opportunity right away as it might not present itself again.
I'd be more than happy if $54K were the minimum this year. I'm afraid we'll see even lower minimums, though I hope I'm wrong.
That's the problemthe ATH for this cycle was terrible, by far the worst ATH in history (in percentage terms), while we see, for example, tech stocks continuing to rise. I think there's a growing common thought that Bitcoin's best returns are behind us, no matter its scarcity.
You posted this when bitcoin was above $60k and today we are seeing bitcoin below $60k with a very strong bearish momentum. If this continues, then bitcoin will hit $54k before the end of this month and even go lower. The bear market is poised to continuing which is what many people thought would not happen following the pause in major confrontation in the Middle East. We can just wait out the bear run since there is little that can be done to change the situation.
$53k or $54k market prices are for sure possible before the Bear market comes to an end,
those prices might actually signal the end of the Bear market too but its really difficult to
know. I'm sure if we look hard enough there will be predictions lower than those too, so
which one do we pick?
There is actually a prediction out there which matches everyones hopes so we should all
live by the rule of "expect it when you see it" until then, anything is possible.
As we speak the market is $59,000 and we don't know if they responsible support at $60,000 since it has failed to maintain it before falling down, now the sentiment is between $55,000 to $65,000 this weak and we don't know if the end of the month is going to be for bullish or we are going to maintain the don't rent till we emerge the new month.
If you are a buyer, yes, don't lose the opportunity because it could be the bottom, which can later be reversed once the price reaches that level.
However, we don't know if this is the bottom; sometimes the market wants to go much further, but it's still a good idea to grab some so that you can accumulate and must have a reserve to buy more if the price drops even further.
For now, we got another decline and broke the previous lower low, meaning it's clear that we are in a downtrend.
However, based on the on-chain data, it is now absorbing liquidities and buyers below that price. That is why we are seeing some buying volume under $59k.
It's still showing a strong momentum to downtrend, and buying volume is getting weaker.
I do not think this is the time about making sentiment about bitcoin getting to $65000, bitcoin need to make $60000 the support for that to happen, but with how the market is right now, it is very possible that the $60000 might be the resistance now. I may not be right, but if the days bitcoin stay below $60000 gets longer up to a week, that means it has become the resistance. Although, this is a very good time for those that have been waiting to buy bitcoin at a lower price.
At this point we must lower our expectations from about analysis and speculation of Bitcoin market, many speculators even thought and predicted that $63k wil be the lowest bear market benchmark before the price will start recovering, that is not the reality as Bitcoin is around 59,400 at the moment which hasn't shown any potential of even reclaiming and to make $60k the new benchmark.
The worse button we can have is around 47 to $48k . All Fity-values are strong bottom that shouldn't be easily broken but who knows, there have been worse and this won't be the first but a tank to 48k is really a Panic state. If institutions and whales decide to buy even cheaper they can trigger the fear so people can panic then sharply buy the bottom.
October is near and he better be right we don't want more stories on or after.
You know that now the price of Bitcoin is falling many people will come with their own analysis about bitcoin, but i know that different people will come up with their own prediction..but as it stands now, i don't think that the price bitcoin will fall below 45k, because the market is not looking what the market will fall drastically...the market is fluctuating since it has fallen to 63k it doesn't cross to be 50k, so every prediction of Bitcoin is not supposed to be welcomed..filter the prediction of others before you conclude...
If creating the sentiment for $65K is dependent on when price gets back to $60K, then I think we are getting it closely because Bitcoin price clocks the $60K resistance based on the Speculation.
And according to the market swing, it seems the fluctuations would have a weak low trends with stronger uptrends. Maybe if we have this experience for some times that means the $60K would become a resistance and what happens next? A hope for $65K?
I think the expectation of Dunamisx is possible to come if so.
However, I also believe it is still possible for a weak bearish momentum to happen and cause a huge decline we never expected.
Of course even $50K fall can be possible and the $65k may not just be a walk down to the street by the end of the month.