Looks like we're stuck in a bear market with Bitcoin's price taking a hit. Back in 2021, it peaked at $68, then plummeted to under $16 in 2022. I'm thinking this time around, it might drop below $65. What are your thoughts on this bear market?
Use the right figures instead.
Bitcoin increased to $69000 in November 2021, it decreased to $15500 in 2022.
Recently it is very possible that $100000 will be the resistance from what I am seeing on the chart right now. We do not know if there will be bear market but that is what the market is showing right now.
With the slowdown in ETF inflows and constant dumping of Bitcoin, the price dropped below $100k. If this situation continues analysts will assume that Bitcoin is moving towards the bear market. Some are still anticipating that BTC will hit another ATH. We have had a good bull run and a profitable one indeed. No matter how the price drops, it will never reach $65 (maybe you meant $65k). The bear season is an opportunity to replenish the wallet and $65k and below will be a good price to buy.
It is very possible for the price of bitcoin can drop below the price you speculated. One thing we should know about bitcoin is that as high as people expect the price to get to in bullish season, that's also how we should expect the price to drop in a bear season. But now that we are having more institutional buyers getting onboard, the sell pressure might be a bit minimal compared to when it was more of individual holders. $65k $50k is very likely to happen in the bear season.
What I think, the bear market is as necessary as the bull market dew to the different purposes they serve to keep the speculative asset going. It is what the investor does with the different seasons that will determine gain and profit for him.
Bitcoin price has been decreasing and assuming we are gradually moving to the bear market it will be difficult for bitcoin price to go $65,000 below weighing the growing involvement of many institutional adoptions the market dynamics this time within the coming bear market is projected to be different from what we had in previous bears.
Use "k" after your numbers, it will only confuse people if you say it like that.
The bear market is certain, it is something that will happen, but as for when it will happen, no one knows, so far we can only speculate that it will happen soon, or in the next year - the timing is unpredictable and no one knows for sure when. However, for people who already understand this, they will not worry too much that the bear market will affect their long-term investment strategy. They already understand that it will happen and are already preparing themselves that they will probably keep holding or accumulate more Bitcoins.
We are not in a bear market yet. Just because bitcoin price dropped to $100,000, as many feared, doesn't mean we're in a bear market. But I agree with you that bitcoin will probably drop to $65,000 or even $50,000 in the upcoming bear season.
The bear market will still be tough and harsh, not as pleasant as many in the market speculate. Especially if bear season coincides with a period of growing economic uncertainty and recession, things could get worse.
Honestly, I don't see our economy getting any better in the near future. Therefore, we should not be subjective.
Seems OP is excited for a bear market But yeah, this is the hardest part: identifying the market, what if it had already started? or this is just a pullback from our recent rally and multiple all time high around $120,000.
Some may wait for monthly close or weekly close or yearly close before considering if we really already in bear market.
Yeah. Identifying the market is one of difficult thing in bitcoin and many people have rely so much on speculation which has always been a reason for them to buy or not. It is possible if the bull market have started but unknown to many and the bear market is what they ate waiting for to buy bitcoin.
As a Bitcoiner and investor always have in mind that bitcoin is unpredicted and dont allow your predictions to make you not to buy bitcoin because their is no perfect time to buy bitcoin, the most important thing is to buy now and hodl for the future and never to allow your predictions to keep you waiting because your predictions may not come through or may also delay, thst is why buying Bitcoin is never a thing to think twice.
Whatever anyone is telling you here is their own speculation because the market is unpredictable. I understand why you feel that we are in the bear market, since October 10th, we haven't seen any significant increase in bitcoin price which can make one think more about the bear market than the bull run.
I can't say if we are in the bull run or not however, you shouldn't worry about the market because it's an opportunity to buy bitcoin 8a cheap price instead, think about increasing your bitcoin portfolio.
It is possible that now in the bearish phase the price of bitcoin will go down but we never know how far it will dip later it might be to $65K while we are just speculating now.
When it arrives bearish now, there is no need to worry about maybe just buy enough because selling now because of panic is stupid at a loss.
But there is confidence that if the bearish continues for a few years the $65K low might happen.
Is quite funny how anyone will want to sell at the moment and even at lost, it could be that such person was in only a quick profit and maybe used money that is meant to solve basic expenses, what is happening now in the market is not new that's for those who has been in the system and have experience of the market, one major mistake most person can make is to expect Bitcoin to always be going up and if sold out of panic in a dip, there is always going to be a regrets and pains when Bitcoin recovers and even hit a new all time high.
Or the opposite could also happen. I mean ETFs like BlackRock or institutions and companies like MSTR have been buying a lot of bitcoin over the past period. But it should be noted that they never committed to the market, they would not sell their bitcoins. So I wouldn't see them as saviors in the upcoming bear season, and I'm even concerned that they'll be the ones making things worse. So I agree with OP and don't rule out the possibility of bitcoin getting dumped hard like previous cycles.
If the drop continues for more days then I would call it a true bear market and then try to speculate what the bottom is going to be. For the time being it only seems like bitcoin is once again reacting negatively to global tensions that not surprisingly started by the US regime after they announced they are going to start yet another war this year and this time with Venezuela. US military has already been carrying out terrorist attacks against civilian boats at sea and these tensions like previous ones are affecting bitcoin price negatively.
The reason why I said we have to wait before announcing a "bear market" is because in previous cases when US regime starts a new war, bitcoin's negative reaction was temporary and it recovered very quickly.
It is difficult to make predictions because every time bear season comes, there are many different events that impact the market.
In my analysis, we will have a milder bear market if the demand for bitcoin from institutions remains high and they are willing to buy more every time bitcoin price drops. Conversely, we will have a bad bear market if the economy continues to weaken due to geopolitical instability. Plus, if institutions sell heavily instead of continuing to buy in. Bitcoin could even fall below $40k.
I lean towards the second scenario.
Blame, I don't have any ideas yet looking how bitcoin price drop drastically until current lower price $94k, as altcoin holding can't imagine what happen if bear market in this time and bitcoin drop under $6 how would be cheapest price of altcoin? I saw many people predicting most lower price of bitcoin this time around $94k and bounce back again $100k with possibility have another dip lower than $94k. If you hold USDT for right now better waiting right moment or entry with 30% of your capital for back up if any dip price again, however many people scare and panic nowadays after bitcoin drop drastically but if I have much free fund right now will all in for buying bitcoin.
Always have lightness after darkness and the same with cryptocurrency progress, after downtrend for next moment have uptrend and many top investors already for buying bitcoin at lower price.
I did said this in some of my previous posts that technically market has headed for a potential pullback towards 66k previous order block that broke 74k which has never been retested since we broke that level of resistance which has now turned into support. We're no longer breaking uper level resistance, but it breaking lows, which is a sign of sell pressure.
If Bitcoin is in November and December this year, it means that a lot of speculation has been published on this forum and other places, actually the opposite speculation, it means that the bear market is currently underway, this is a sign of facing the halving which will occur in two years, 2028.
Today the market seems to be experiencing real problems, Bitcoin can affect everything but if a situation like this continues it is possible that $65k is not a difficult thing.
This is a good opportunity to buy bitcoin. I know most investors are already panicking while some may even be thinking of selling off there bitcoin. Yes we are already in a bear market and it will be wrong to speculate that the market will go lower than it is already. This mindset of thinking that the market will go more bearish will make some investors to be waiting for the market to dip to there desire price and they make end up not making use of the opportunity that the market offers
I am not really sure about the extent of the Bitcoin price decline in the upcoming bear market. The situation might not be like previous bear markets. This could also be influenced by institutional adoption. But a drop in Bitcoin prices to $65k might happen, although the decline could occur over several periods. We might also be in a prolonged bear market period with relatively small price movements in the market.