Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: JordanKing on November 23, 2022, 12:55:54 PM
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As Bitcoin price faced a notable jump in the early trading hours that increased the price by approximately 6.5%. The BTC price successfully trades beyond $16,500 after reaching the monthly lows below $15,500 in the previous days. We can say that the market participants may be a bit relieved with a minimal amount of accumulated buying volume, the revival of the bearish may be shortly validated.
Many the times, the long-term holders constantly accumulate the tokens without liquidating them at any point without concerning about the market trends. As per Coinpedia, the number of long-term holders has rising after the markets underwent a bull run in the year 2021. In addition to this their holdings stayed unspent and untouched and therefore called dormant.
As per the latest update, such dormant addresses have been spreading out their BTC reserves continuously stating a huge bearish event is approaching rapidly. As mentioned in Coinpedia Article, the on-chain data provider called CryptoQuant, the spent Output Afe bands from the 7 to 10 long years have peaked. Which means, the monger-term holders who held BTC for more than 7 years have been selling their holdings massively.
The latest price sell-off and the uncertain market trends could have forced the long-term holders to liquidate their holdings. Closer to 10,000 BTC has been sold which are anticipated to flood into the market any time from now. Therefore, building a fresh wave of bearish pressure that may push the BTC price towards new lows.
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Lets be clear this is accumulation phase and in this time its better to take advantage of this global situation ,
But thats no means that bitcoin is not have potential to reach to 100K or higher but it need some more time lets settle at least 3 years to breaks 100,000$ per btc ,
And we know the potential of btc , see the 6% jump thats the potential of Bitcoin and its a very good time to average out your buying price in this bear market because future will great of all the Cryptos .
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And that means that we have to convert our BTC now into either real cash or maybe USDT since from $16K it will soon be going down to $10K. How many times I have heard this speculation and suggestion yet the problem is that nobody can be sure where BTC will be a week from now, a month from now and much more a year from now - heck it can even go down to zero which is what I m actually wishing for since I can then buy BTC for nothing (just another old fool's joke, by the way). Now, since this can be a really serious warning I am going to convert my very small BTC holding into USDT in Binance...and if the $10K prediction will not come true am going to haunt you wherever you are but it will go down to $10K then I am going to give you a gift (not haunting you).
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A good chance to buy at a great price if this happens. Buying bitcoin using the DCA strategy - you will be in the black at a distance.
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I think that Bitcoin will continue to rise in the long run with all of the people who are expanding the platform. I think the markets will be good to talk about with all of the amounts that we are seeing here. I think that platforms like Cat368 https://cat368vn.com/promotions/ and other casino platforms or even other businesses that deals with digital currency has enough promotions for people to play on make transactions.
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the world is just going digital moving forward especially in the long run. it is what it is.
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the world is just going digital moving forward especially in the long run. it is what it is.
Agreed.
BTC may move lower, however as more time goes by since our ATH the greater the likelihood BTC has already reached it's bottom.
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A good chance to buy at a great price if this happens. Buying bitcoin using the DCA strategy - you will be in the black at a distance.
since July until now, bitcoin is in a price situation that is constantly in the range of $ 15K-$ 25K and doesn't look like it will continue to fall to $ 10K, maybe not this year but it could happen next year. where this is indeed a very good time to continue buying, I totally agree that you should continue to consistently store bitcoins with existing and sustainable capabilities, so that in time you can collect quite a lot and by that time the price has recovered.
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The market is currently on a bear mode and it may be a time to accumulate but it is difficult to estimate the down trends price for an end to accumulation phases. Bitcoin is predicted to bottoming at certain ranges, some are expecting a movement to &12k, while some analysts claimed that the bottom may be around $12 to $14k, others think that Bitcoin will go as low &10k. As the market situation continues on a high and low for the past weeks, I think that the bitcoin may touch $14 before 2023 and anything can happen.
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I don't thinj bitcoin will touch 10K USD , but it depends on the market.
And several economic experts said we will see big inflation.
I think It will happen at the next year.
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Bitcoin is still strong in the $15k usd support area, I don't expect it to go down to $14k as there is a lot of pressure exerted by many to sell it as it needs huge funds for other things.
if we look at the recent price hike I think that is good because some long term investors know what they are doing, waiting for the next Bitcoin halving and price to go to ATH I hope.
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I do not find these arguments persuasive. Bitcoin is constantly sold and bought, the ratio of supply and demand forms its price in this market. In addition to the fact that 10,000 bitcoins were sold, it was necessary to give a figure on how many bitcoins were bought during this period, and since the price of bitcoin has recently risen slightly, it means that the demand exceeds the supply for sale.
The price of bitcoin may still fluctuate, however, I do not expect it to fall significantly. Analysts, on the contrary, say that it is likely that it could go into a bullish phase in the near future and rise to $110,000.
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As Bitcoin price faced a notable jump in the early trading hours that increased the price by approximately 6.5%. The BTC price successfully trades beyond $16,500 after reaching the monthly lows below $15,500 in the previous days. We can say that the market participants may be a bit relieved with a minimal amount of accumulated buying volume, the revival of the bearish may be shortly validated.
Many the times, the long-term holders constantly accumulate the tokens without liquidating them at any point without concerning about the market trends. As per Coinpedia, the number of long-term holders has rising after the markets underwent a bull run in the year 2021. In addition to this their holdings stayed unspent and untouched and therefore called dormant.
As per the latest update, such dormant addresses have been spreading out their BTC reserves continuously stating a huge bearish event is approaching rapidly. As mentioned in Coinpedia Article, the on-chain data provider called CryptoQuant, the spent Output Afe bands from the 7 to 10 long years have peaked. Which means, the monger-term holders who held BTC for more than 7 years have been selling their holdings massively.
The latest price sell-off and the uncertain market trends could have forced the long-term holders to liquidate their holdings. Closer to 10,000 BTC has been sold which are anticipated to flood into the market any time from now. Therefore, building a fresh wave of bearish pressure that may push the BTC price towards new lows.
If will be, bitcoin price will dump until 10,000 USD , I will sold my assets and buy more bitcoin.
Bitcoin is very profitable to hold until the next year's .
So, I think 10K USD is the bottom.