Bitcoin's sitting at $93750 right now, which is about $170 more than where it kicked off January. But I feel like some folks are factoring in that $102400 and the lowest drop this month to do their math.
That seems kinda off to me, since it gives a skewed view of what's actually going on.
Those who look at charts understand already what may happen and if there is a correction or not.
We now only experienced around 5-7% decrease, so in any case, whatever happens - we will continue to hodl and accumulate more. On 90k, 80k, or 75k
The comparison being used there is between the highest and the lowest this month of jan 2025.
Based on the report you shared.
So heres the computation.
102,300 - 92,000 = 10,300
10,300/ 102,300 = 10%
Therefore TRUE.
Not true. There was truly a correction but bitcoin has not fallen so far this month is what I am talking about. People that bought bitcoin immediately when we were about to enter into this year are not losing now when bitcoin is at $93750 because the price of bitcoin at the start of this month was lower than the price now.
Take $75k off the speculation Becassine we can't have such a deep correction any more Becassine at this point the odds are in favor of seeing 90k being the basic low that Bitcoin can correct to before we see the next face of a price upward direction.
We have some events that will influence a quick recovery for Bitcoin from the present price level to a sustainable 97k before the 20th and if any strong news happens as expected then Bitcoin will last another all-time high very soon.
So, it seems we got a bit confused about the definition of "so far this month." lol..
Anyway, lets check what "so far this month" really means.
https://textranch.com/c/so-far-this-month-or-this-month-so-far/
There was no mention that the basis is from the start of the month only and to the current.
I think you are the one getting yourself confused here; probably you are calculating based on the starting price of Bitcoin as of the beginning of the year, which Bitcoin was around $94,300 as of January 1, 2025. If you use that price to calculate the drop with the current price, which is $93k+, there is not much difference.
But we have to look up to January 2025, ATH and not just the starting price, which, from what @stadus has stated above, reached a height of $102,300. If you remove this now from the current price of bitcoin, then you will see that the calculation is correct.
I am not getting myself confused. Just I have said in the OP the calculation they would have used for it. I also just not bother myself to make the calculation but stadus still only calculated what I have posted to likely have been the reason. So no confusion there.
The opening bitcoin price for January 2025 was $93k+ and not $94300, while the price as of today is still $93k+.
It would have been better if it is stated that it is down 10% from its highest price in January. Or the date could have been mentioned like 'since 7th of January'. If it is since January and we are in January, it is wrong.
The market has continued to dip, but rest assured that we are going to see some recovery pretty soon, bitcoin has shown a lot of resistance at 92k before eventually sliding down to 91k+ and now gradually maintaining around 92k+ and holding strong to that, most of those that have their liquidation around 85k or above are now panic closing their position to caught loses, just a few future traders are holding on to their position, but this is the best buy position for anyone that has money to invest in bitcoin right now.
January has been a lot volatile for bitcoin, but comparing this current price to what it used to be in the previous year January, I will say that bitcoin is already following a pattern and events and news are the factors that can take us out of this.
Somehow this could be very confusing but definitely not for one who regularly dine with the bitcoin price chart. 25% is a pure exaggeration from what I know. 2024 ended with bitcoin price at around $93681k, starting the new year at a price of $94569k, so anyone who bought at the beginning of the year is definitely making no loss at the time even when this thread was created how much more now the price is up at $97k right now. Any entity using the $102k price is doing so in error and that's where they're getting the 25% and 30% drop result in their computation.
This is where the importance of self studying the chart can't be overemphasized. Relying on some so-called online experts analysis on everything about the market cancelled be misleading in many ways. But I wouldn't know if it's laziness that makes some people not to have time to analyse the chart on their own.
Too many people with too many analyses, and most of them are gamblers. Can you imagine, Bitcoin dropping 30% in January, what will then remain? Well, it might be because of the way the coin was falling, people often talk based on the present condition and not based on accurate analysis, they don't just have any clue.
For me, Bitcoin is strong and will continue to maintain the strength throughout January, it cannot fall that much with the solid triple-bottom support on the 1D chart at $92,012. That level gave me the clue that Bitcoin would reverse upwards this week before the US's CPI news of today did it an additional favour.
The market pattern is getting more interesting as well as those interested to invest or trade have to take extra caution for that, we have been moving from the $89,000 range to $102,000 and this is somehow hard to quickly predict or conclude whether its going more bearish or bullish over the strongest side, well that have to be a thing of knowing if the demand or supply over on each other or not, we have to develop an approach for the market in other not to miss it from the way of buying or selling it.
Bitcoin was dumped in January and reached a low of $89,000. When it was at $89,000, everyone was probably worried that Bitcoin might be dumped too much, but from $89,000, Bitcoin has directly reached $100,000. However, looking at the current market, it seems that Bitcoin will continue to dump and may go up. Let's stick with the market and see where the market moves.
that's just a fear and pretty normal to happen in the middle of flash dump but people need to remember the fact that great deal of trading volume also made up of future speculator where they don't care about the price what they care is opening position when market deviates too much like flash dump and will long when price already going down 10% in the blink of an eye as a result the market recover.
bitcoin in current price is as strong as it was in previous ATH price even before hitting above $100k, there's no worry that BTC can dump too deep unless we're in bearish which we are not.
I don't know if such investors or I should say they are mere speculators would have such devastating view about the Bitcoin market.
I wonder if they are aware in the first place that Bitcoin is a volatile currency that fluctuates UPs and DOWNs while it is potentially valued on the UPs of increments.
This also reminds me of this bear-trend i came across in the Marketplace sub-board in the forum where a use was not comfortable with the present market value of Bitcoin just at last week 9.
There in the thread he expresses about the bear market which I believe the act was part of investors market sentiments that where your wish on the market would be against other investors wishes.
While you want increase to huge profits, others are expecting the Bear or even the DIP so they could buy at that time to accumulate huge amount of Bitcoins.
Truly this market sentiments would be unending as much we are having new investors and there are always old time investors holding.
These two categories of investors are just one who which is to make profit but their expectations usually comes on different time.
Dont worry about a specific month, we've stayed above the 94k area for BTC and its bullish. That much should be obvious from today if not previous days. Sometimes hanging around may look negative but its really just bouncing back and forth within a range, when that range is so elevated it all equates to a positive on the wider picture and once again thats been true here.
I think BTC has only increased by 0.28%. If we want to break it down, we take the initial data in January which was at 102,759K and the last rotating price today, let's say 103,049K, so there is a price difference of $290