Has Bitcoin hit the bottom?

What's your take on Bitcoin's current price around 56500? Has it really found its bottom?

Some analysts predicted that bitcoin may fall to or below $46000. It fall to $48900 instead. Now some analysts are predicting that bitcoin may fall between $45000 and $50000. I do not believe how true this would be but I think it is a good speculation. The way the market is right now, we can not know the bottom because bitcoin price is not really that volatile as it should be but ranging within certain price.

There are some predictions that Bitcoin might have a potential low of $46,500. So it is not bad to predict that the price might get lower than 56,500. However, with the expectation that the US Fed will cut interest rates, the value might push an uptrend. I expect the price to get to $100,000 before the end of the bull market. Anyway, it is also key to understand that the price of Bitcoin is unpredictable, so do your research.

56500 doesn't seem to look like the bottom for me, taking a critical look at the chart, you are going to see this key observation on the one month time frame that there's a strong build of a bearish candle which isn't closed up yet so reversals may not be expected any soon and this is actually around the 56k region, where I'm seeing a possible support that my propel a reversal is around the 52k zone but it spans across to the 50k zone where its strongest and looking at the news in recent time sit appears to me its possible it gets to this point before a possible potential bull move as even some whales look like they are currently reacting to this. For long term investors i believe this is what to look forward to because its the possible outcome in the nearest future but in the short term it may not make much sense because all yo may be seeing in the recent is typically a down ward trend which may seem like a loss to those who have their portfolio already and for those tryin to venture in may be scared because they are are going to think only in the loosing direction.

Haven't we see the price lower than this before in this year? Correct me if I am wrong we have seen it around 50k to 49k and I can't say with all assurrety that this gonna be the bottom but might also see it bouncing back sooner. What happened is that there are lot of prediction on the bitcoin price which many of us have high our hope to because of the speculated news and of course investors and traders are using this to give themselves a kind of relief hope since they are already in a lose.

No one has a crystal ball to know the future, so no one can answer your question, not even those who claim to be experts. Those who still want to accumulate more bitcoins will always want bitcoin to fall further and vice versa, those who bought at a higher price will want bitcoin to recover from here. The market always has bulls and bears for you to choose from, and it all depends on you. What is your purpose in knowing the bottom of bitcoin? Are you planning to accumulate more bitcoins? If that is your intention, I recommend you buy more bitcoins if you are ready because no one can determine where the lowest bottom is and where the highest top is. DCA and long term holding is the best strategy we have, don't try to find where is the bottom and where is the top.

Bitcoin price is now generally in a bit of volatility, having touched $56,000 directly from $62,000. So a lot of people make a lot of comments, but I generally think it's normal for this kind of dumping to happen before a bull market hits. Because every investor has ample opportunity to hold Bitcoin in a deep market, I am not alarmed by the current volatility. Because this is the biggest opportunity to hold Bitcoin, because market conditions are not always bullish, dumping and investors can hold, that's why dumping and pumping is normal in Bitcoin market.

And this is something that people should really be that wary about or something that do talks about having that realization because there's no one could really be able to determine or would be able to know on whats the bottom. We cant be able to see on whats ahead and even with the current market condition on which there's no fundamentals or news around but turns out that the price is really that going down. We've been trying out to hunt to bottom. We do know that the price had gone down on $49k recently and tons of people have been that believing that it could touch up 42 but it didnt push through on which this do really always proves out that technical analysis and other fundamentals will really be that always effective. This is why it cant really be avoided that we do keep on making up some questions and speculations towards the possible movement that we do able to take. Somehow its not something new because we are all speculators on here. No one would indeed have the cryptal ball on who would be able to know on where prices would be going. Its up to you whether you would be making up some entry on the current price level or you would be waiting up for further dips for you to maximize profitability. Its not really that bad to consider on the current price but just like been said that it cant be avoided that we will really be thinking up for more and this is why we will really be trying out very best on maximizing profitability on which it would really be causing up for us to wait up even more whether those calls or decisions will really be a hit or miss. Tons of factors that could really affect out the result or outcome, so better bare up yourself into those probabilities.

It is difficult to determine if Bitcoin price reach the bottomp price. Even we are now see the price is green, that doesn't mean the price can not down again. You can only watching and analyzing the market while you can prepare to buy for more if the price still down. But I guess the price still down for more although I don't know how deep Bitcoin price will be. I heard that some people predict Bitcoin price will down lower than $50k but that will still difficult to be right. So rather than you listen to other people's prediction, it is better you prepare yourself so you will not miss the chance to buy more. The correction this time can be deeper as we don't have the right sign. But you don't have to worry because Bitcoin price will reverse to the high price. This time, our focus will be to buy Bitcoin at many lower price.

Some prediction analysis will make you to have double taught in bitcoin, but what I know in bitcoin is that the price is unpredictable, before you agree to people who predicts the price of bitcoin both long term and short term..ensure that you have make your proper research towards Bitcoin before you agree with anyone decision, I know that price of bitcoin will definitely decreases after it increases to certain points, so theirs every tendency that price of bitcoin can drop above the estimated value you points out, nobody can predict bitcoin price. Bitcoin can decrease and increase due to the demand rate, some people is saying that price of bitcoin can decrease more than its present price, those speculations is assumptions, let them convince us that price of bitcoin might go below its present price, the thing is that they supply control its decrement whereas demands control its increment.

Everyone believes that when the Fed cuts rates it will be a price reversal in the asset market and experience a price increase back to bullish mode, but if you look at the economic situation with unemployment rates and sluggish market reactions and several events in the past when the rate cut did not mean bullish, but accompanied by a recession, this is still a shadow of the asset market that makes many people a little afraid of the economic situation in America. Finding a price dip in this cycle is quite difficult with the current uncertain market movements, we could have the potential to drop prices to the $ 44k and $ 38k levels if things get worse, but I hope that doesn't happen and Bitcoin must stay at the $ 50k level to make it easier to reverse its position into a bullish moment.

With the current state of the market, it would not be surprising if the value of Bitcoin falls further. Because the market will do some correction and wait for it to become bullish again. Since the price of Bitcoin fell below 50k a few days ago, the market may fall even further. We are heading towards the end of the year and there are many examples of Bitcoin price going up during this time. Bitcoin never moves based on history though. If the current price of Bitcoin falls below 46K then Bitcoin can take a long position in that area. But speculation and reality are not the same. From this position, the market may move upwards again. Market may move from 56k to 60k again.

If I'm not mistaken, the last bottom we have seen is around $50,000, during the so called German government selling their Bitcoin. So in this case, there are still a lot of selling pressures, so who knows, maybe we can see at least less than the last bottom and retest it. So in any case, expect for the worst, we will have on Sept 18 the next meeting by the US Federal Reserve. And by what we said, just continue what we have been doing in the last 2-3 months, just accumulate as much as we can, take advantage of the dip and just ride this bearish slide.

Looks like from the commentators here so far that its a No, we havent seen the bottom yet. I believe September is not a "Green" month traditionally anyway so I would guess we are going a little lower before the end of the month. More shaking out if the weak hands...if they havent been shaken out already! I hope everyone else is staying positive for what is potentially ahead to round out the year with a Green last quarter?

a few hours later we got under to 55.9k I could see 45-47k easy to get to this month. maybe even 41k-43k could happen.

Thank you everyone who replied so far. The reason I am asking, is because I am keen on selling some of my Altcoins without losses and I am wondering how long I'll have to wait...

We have actually gone below the $50,000 price Mark last month, the dump that occurred in the August 5th took the bitcoin price to around $48,900 which was a good support left before and then was mitigated with the selling pressure still around I also expect a bottom but the $48,900 support still remains my strongest support. The CPI news and meeting will actually give investors insight on what the economy is going through right now, the last time when the news of potential recession was broken, it created FUD and we had a huge dump if the September 18th news turns out negative then we might be hit with a bottom, which is not good at the moment because the fear will only increase. Yes the idea is to keep accumulating for those who have spare funds to accumulate, as for those who can’t they should just look away from their portfolio because looking at it at the moment wouldn’t be good for them

It might go down to $50k or spike any moment from now, if you want to invest into Bitcoin, don't wait for the bottom before you buy, you can start DCAing while still waiting for the price to drop. Sometimes, if you are expecting for the price to dump before you invest, you might get disappointed and see that instead of the price to drop, it will start to surge high. We are yet in the bull season and you can not predict when and what price the bottom will be.

If you feel that is a bottom why not start your first position and do a DCA later because honestly no one knows what will be the price of BTC later just don't lose the opportunity to buy at a lower price than waiting for something that you don't know if the price will touch lower than the expected price every price drop should be a good opportunity to buy at low price. That is why we have a DCA strategy to make sure we buy at a dip price. For technical analysis on the chart currently, it is not touching yet the support area so it's not the bottom yet maybe around $53k or lower would be the bottom price for this month.

Even long time holders or can we say so-called experts here can't predict when will be the bottom of this market. Everyone is just speculating so it is on you how will you strategize to gain profits from this market. No one is obliging you to put money here, should be your own accord and at your convenience. You can always consult cmc or coingecko and other crypto trading sites for the bitcoin performance throughout the years and see for yourself what the graphs are showing to you in terms of its profitability. Each person has their own way of determining its profitability depending on the category they want to see https://coinmarketcap.com/ https://www.coingecko.com/