BTC Prediction - $100k or Below $20k?

[pawel7777]

Only in February this year, everyone was excited about Bitcoin going above $50k, now we have a massive outcry that it fell below $64k.
Some things will never change I guess.

Also, if we look at the previous cycles, we'd always have some pull-backs after halvings, some were around 30% or even 50%. What we're experiencing right now hardly qualifies as a pullback, it looks more like a side trend.
Long story short, this is normal.

[LogitechMouse]

Only in February this year, everyone was excited about Bitcoin going above $50k, now we have a massive outcry that it fell below $64k.
Some things will never change I guess.

Also, if we look at the previous cycles, we'd always have some pull-backs after halvings, some were around 30% or even 50%. What we're experiencing right now hardly qualifies as a pullback, it looks more like a side trend.
Long story short, this is normal.

At the time I'm posting this, Bitcoin made a huge downward movement again, and now its price is at ~$62,800.
TBH, this is not what I'm expected, but if I will look at the past price movements of Bitcoin after the halving event, Bitcoin also went to a bit of a price correction after making a huge run.

Like you said, this kind of price movement of Bitcoin is pretty much normal, and I hope no newbies will panic after seeing the market moving like this. I hope those who bought Bitcoin near its new ATH will not make unnecessary decisions and will sell at a loss. To all newbies, this kind of movement is pretty much normal. Don't sell and instead, accumulate even more and wait for the bull run to happen.

[bee]

Surely you don't know about the BTC repayment plan to Mt.Gox creditors which will be carried out starting this July in stages^[1].
I think these creditors won't hesitate to dump some small parts of their BTC in the current market conditions because they have a lot. Although other media say it's not as bad as people fear^[2], logically there will still be a large BTC offering on several large exchanges so that it really shifts the market price down. Any thoughts? What's your plan?

1. https://www.theblock.co/post/301448/mt-gox-to-distribute-9-billion-of-bitcoin-bitcoin-cash-repayments-from-beginning-of-july
2. https://cointelegraph.com/news/mt-gox-bitcoin-dump-fear-concern-overblown-analysts

[Aanuoluwatofunmi]

I don't think it is making sense anymore for anyone by this time to be expecting the market price for bitcoin in going more dip than we had already, for this season, i don't think we can have anything lower than $50,000 dip before we are out of the season, just imagine the way the market appears today as it maneuver its way back to $62,000 after going bearish down below $60,000.

[Captain Corporate]

I do think that 100k+ is a lot better and I think we should consider the situation to be a lot better, and I think the best way to go with would be buying. Sure we are talking about the fact that we can't really see that up right now, we are seeing drops for a long time, and that doesn't look that great but I also think that we should consider the fact that we are dealing with something that is going to get better. Hopefully, we could see it get better soon enough, so we could do a lot better and the result would be 100k+ eventually, if bull run starts then it is not that complicated to see it work some other way.

[SmartGold01]

I do think that 100k+ is a lot better and I think we should consider the situation to be a lot better, and I think the best way to go with would be buying. Sure we are talking about the fact that we can't really see that up right now, we are seeing drops for a long time, and that doesn't look that great but I also think that we should consider the fact that we are dealing with something that is going to get better. Hopefully, we could see it get better soon enough, so we could do a lot better and the result would be 100k+ eventually, if bull run starts then it is not that complicated to see it work some other way.

Sorry to say there would be a little difficulty for the market to hit 100k within this period because if followed by the sequence we may find very hard as the previous ATH doesn't immediately surge the bitcoin price. Looking into history before we may likely experience surge in price could be within the period of next year being 2025 maybe Q2 then we would see full potential Green in the market.

[Kemarit]

Only in February this year, everyone was excited about Bitcoin going above $50k, now we have a massive outcry that it fell below $64k.
Some things will never change I guess.

Also, if we look at the previous cycles, we'd always have some pull-backs after halvings, some were around 30% or even 50%. What we're experiencing right now hardly qualifies as a pullback, it looks more like a side trend.
Long story short, this is normal.

Yes, speculators, traders, and long term holders are not going to be satisfied with what we are seeing. February and March was a healthy returns for us, April it's down and May we are up and currently for this month alone we're -8.3%.

But still if you sum it up, we could still be net positive as Q1 is huge with +68% and Q2 currently at -13.18. So yes, we might not like what we are seeing, but throughout Bitcoin's history specially post halving, we might encounter and see prices nose diving until such time that the bull are going to caught up with the market and then we will have that prediction of $100,000 for the future.

[dekafee79]

Only in February this year, everyone was excited about Bitcoin going above $50k, now we have a massive outcry that it fell below $64k.
Some things will never change I guess.

Also, if we look at the previous cycles, we'd always have some pull-backs after halvings, some were around 30% or even 50%. What we're experiencing right now hardly qualifies as a pullback, it looks more like a side trend.
Long story short, this is normal.

At the time I'm posting this, Bitcoin made a huge downward movement again, and now its price is at ~$62,800.
TBH, this is not what I'm expected, but if I will look at the past price movements of Bitcoin after the halving event, Bitcoin also went to a bit of a price correction after making a huge run.

Like you said, this kind of price movement of Bitcoin is pretty much normal, and I hope no newbies will panic after seeing the market moving like this. I hope those who bought Bitcoin near its new ATH will not make unnecessary decisions and will sell at a loss. To all newbies, this kind of movement is pretty much normal. Don't sell and instead, accumulate even more and wait for the bull run to happen.

don't sell bitcoin at a loss, this is just a correction. It's best if you have bought bitcoin that is more expensive than the current bitcoin price, don't panic, keep holding and wait for the bitcoin price to rise again. It is possible that Bitcoin will touch ATH again in a few months.

[Roseline492]

Looking into history before we may likely experience surge in price could be within the period of next year being 2025 maybe Q2 then we would see full potential Green in the market.

You may be right because since Bitcoin break the previous ATH and created another ATH it has not really shown any sign of a serious uptrend but instead it has been moving within circles and two days ago it drops below $60k and now it moved back to $61k+ and still there has not been any clear direction on the particular trends is moving towards on.

So perhaps seeing the price moving that way could prove your analysis to be true because with how far the year has gone and how the price has remain on a particular range there is a possibility that the bull market we seems to be expecting this year may likely happen from 2025 because for now nothing is really certain about the Bitcoin price movement, so hopefully if it doesn't happen this year may be probably Q1 or Q2 in 2025.

[SmartGold01]

Looking into history before we may likely experience surge in price could be within the period of next year being 2025 maybe Q2 then we would see full potential Green in the market.

You may be right because since Bitcoin break the previous ATH and created another ATH it has not really shown any sign of a serious uptrend but instead it has been moving within circles and two days ago it drops below $60k and now it moved back to $61k+ and still there has not been any clear direction on the particular trends is moving towards on.

So perhaps seeing the price moving that way could prove your analysis to be true because with how far the year has gone and how the price has remain on a particular range there is a possibility that the bull market we seems to be expecting this year may likely happen from 2025 because for now nothing is really certain about the Bitcoin price movement, so hopefully if it doesn't happen this year may be probably Q1 or Q2 in 2025.

There is every possibility that is why it is called speculation section meaning there is likelihood but not certain it must happened the way we talks about it here. You know there are people who had speculated about bitcoin price for longer time and it didn't happened they way said not that they don't know what they are saying but is because we human can't give accurate information to how bitcoin moves especially they way we just achieved ATH this year before having, this made people marveled over the price of bitcoin seeing people rushed to accumulates more with the mindset it would get to $100k the next month but it didn't work that way. Currently those who fall victim are complaining about the sudden drop and panicking to sell of their holding to wait till it gets to bottom.

[Captain Corporate]

Sorry to say there would be a little difficulty for the market to hit 100k within this period because if followed by the sequence we may find very hard as the previous ATH doesn't immediately surge the bitcoin price. Looking into history before we may likely experience surge in price could be within the period of next year being 2025 maybe Q2 then we would see full potential Green in the market.

I do agree that it may take that long, but at the same time we should realize that its not that easy, and sometimes things take a little bit of time, so we shouldn't be really worrying about it, it should be normal for us. I get that it may not look like it is going to end up with a worse situation, but we just need to make sure that things will do better in the end if we keep holding it and that's what I believe in. As long as we keep holding, the ATH could be in q4 of 2024, or could be q1 of 2025, or maybe q2. I do not know when, but it is coming and that is what I know and I would like to hold until then if I can.

[UNIVERSE]

don't sell bitcoin at a loss, this is just a correction. It's best if you have bought bitcoin that is more expensive than the current bitcoin price, don't panic, keep holding and wait for the bitcoin price to rise again. It is possible that Bitcoin will touch ATH again in a few months.

I agree, it is just normal correction. We shouldn't sell our Bitcoin for loss now. People who panic and sell their Bitcoin, they don't know how the market works. There should be time that the bitcoin price will increase again in the future. I think next month may be the time for another rally of Bitcoin. If we mostly saw red market in this month, next month seems to have a different trend. I don't expect it can reach the ATH again soon, but it should be $70k again at least.

[pawel7777]

(...) I agree, it is just normal correction. (...)

It might be fuelled by fears of Mt Gox distributing even up to 140,000 bitcoins to its creditors, which potentially could be dumped on the market.
Allegedly the distribution should start in July, but I don't know any more details. I don't expect they would distribute everything at once. Those things take time, sometimes a very long time.

[UNIVERSE]

It might be fuelled by fears of Mt Gox distributing even up to 140,000 bitcoins to its creditors, which potentially could be dumped on the market.
Allegedly the distribution should start in July, but I don't know any more details. I don't expect they would distribute everything at once. Those things take time, sometimes a very long time.

Is it a valid news? If it is valid news, it means we may have red market in July. If Mt Gox really distributes the big numbers of Bitcoin to the creditors, people probably panic because it may impact in the big decrease of Bitcoin price. This will lead to the decrease of demand in the market, so this will trigger the price to drop deeper. I'm not sure how deep it will be, I just hope it is still above $50k. Do you plan to buy Bitcoin when it really drops a lot?

[dekafee79]

It might be fuelled by fears of Mt Gox distributing even up to 140,000 bitcoins to its creditors, which potentially could be dumped on the market.
Allegedly the distribution should start in July, but I don't know any more details. I don't expect they would distribute everything at once. Those things take time, sometimes a very long time.

Is it a valid news? If it is valid news, it means we may have red market in July. If Mt Gox really distributes the big numbers of Bitcoin to the creditors, people probably panic because it may impact in the big decrease of Bitcoin price. This will lead to the decrease of demand in the market, so this will trigger the price to drop deeper. I'm not sure how deep it will be, I just hope it is still above $50k. Do you plan to buy Bitcoin when it really drops a lot?

I will buy Bitcoin if it really will experience a decline, because I think if this news is true and occurs after halving opportunities to seek profit still, because the possibility of a bullish season will occur later this year. So prepare your USD and buy Bitcoin, and also other coins that you believe will increase during the bullish season.