What's the next step for BTC?

[MUGNIA]

Usually after halving bitcoin has downtrend moment and likely not really huge of decreasing for bitcoin price since before halving success break out to the higher price.
I think right now is moment for us keep purchasing how many possibilities before break out moment taken at the end of year or few months later after longer time bitcoin keep stable on lower price. I have limitation of capital after some my altcoin assets price decreasing and will buy many bitcoin if get profitable later regarding bitcoin has lower price right now.

Bitcoin price dropped to $58k yesterday which is a negative signal for Bitcoin. And although the price of Bitcoin quickly rose above $61k again, it now appears that Bitcoin is going down again. so I'm a bit scared about the price of Bitcoin right now.  And I think Bitcoin could be down again. It could even happen that it goes below $50k. Because of this I am afraid to invest in Bitcoin at present and am waiting for some more Dip. I follow DCA though. However, I am afraid of the market condition

In fact, if you understand the Bitcoin cycle, there is nothing to be afraid of if there is a downturn, you just need patience to get back up,
It's a different matter if someone buys BTC when the price is high and buys using non-free money, so there will be panic when there is a decline in my opinion.
just like you, I am also afraid of buying BTC at this time, where the main reason is that there are no funds to allocate to BTC and there is a fear that BTC will go down even more than today, if I buy BTC

[Faisal2202]

I think it is clear that we are going to end up with adoption that makes it quite obvious where we just use crypto for payments. I do not think that it will be anything else, we should just do that. I get that we are going to end up something nice, where I just go to a restaurant, eat food, pay with my bitcoin and leave. That is the next step and nothing else really looks like our future to me. There could be more financial company stuff like ETF as well, there isn't really anything that would be all that terrible, that could happen and it wouldn't be bad but I think it should be something related to payments first.

Using BTC for day-to-day expenses is not so useful, as most of the people adopting it and investing in it are looking to hold it for a longer period of time. They don't want to use BTC for day-to-day expenses. Keep all of them aside, let's take your POV here. Will you use the BTC you have accumulated or earned from Signature campaigns (if selected) for day-to-day expenses or you prefer to hold these BTC for a longer period of time?

I will prefer to use BTC for holding purposes because I know in the long run it can multiply my investment and can give me some good profit. But I am still using my BTC for daily expenses as well. Because I can't save money at the moment due to high expenses, but its does not mean I don't want to save funds in the form of BTC.

[Makus]

Hi forum mates. Good morning..BTC hasn't really performed to expectations since halving and right now we've been experience downtrend for a while. For experts here. When can be experience a reversal to the uptrend. And what do you think is the cause of this negative price action we've been seeing since June Started?

From my perspective, bitcoin has done excellently well after the halving even took place in April, it has appreciated to its ATH and we are currently in the price correction, where we'll experience a bit of dump and sideways trend for a while and after which we'll be experiencing the bull run which might lead to a new ATH. Looking from history it's a normal occurrence and it's no new thing. If you're already holding, I urge you to keep holding irrespective of the trend we are experiencing right now, the bull are yet to come and it would be great.

[Paragon2]

Although within a few months we could see the Bitcoin market peak dumping this June.  You will notice that the Bitcoin market is currently dumping the highest target, from $73K to the current $60K low.  So in the past, although the Bitcoin market has been bullish since January 2024, June 2024 has seen the highest dumping. Basically the main reason for this Bitcoin dumping is that the American government transferred 3940 Bitcoins from its huge Bitcoin fund for sale.

[Makus]

Although within a few months we could see the Bitcoin market peak dumping this June.  You will notice that the Bitcoin market is currently dumping the highest target, from $73K to the current $60K low.  So in the past, although the Bitcoin market has been bullish since January 2024, June 2024 has seen the highest dumping. Basically the main reason for this Bitcoin dumping is that the American government transferred 3940 Bitcoins from its huge Bitcoin fund for sale.

Whale transaction can greatly affect the price movements of Bitcoin and other cryptocurrencies but one thing is certain, that Bitcoin will rise again after the entire dump we are still going to experience the bulls which is a normal occurrence after the Halving. Though more investors must have also contributed by selling off their Bitcoin, but when they start buying at their desired dip the price of Bitcoin will surly increase. Dumps like this don't last for long. And FOMO can actually make investors start accumulatiing again, though there are other factors that can influence the price of Bitcoin but buying and selling is the most common reasons for the dumps and pumps.

[Pastaral]

When I first looked at this, the Bitcoin market was very bad, going up a bit at the current time and going back down again later.  If the Bitcoin market goes this way for a while, it will currently top out in 2024.  Because of this Bitcoin transactions are a bit high which I think will not last for long.  Those who invested at this time will now try to sell the bitcoins at skyrocketing prices. Due to this, the current bitcoin market is good.

[EluguHcman]

Hi forum mates. Good morning..BTC hasn't really performed to expectations since halving and right now we've been experience downtrend for a while.

It is unfortunate that you are one of those who believed the price of Bitcoin would skyrocket just after the halving. Lol.

Please do not be too curious to this anxiety because no one would give you a definite answer to this as long Bitcoin market price is unpredictable but though we just have to keep hodling in expectation that after the downtrends, the value will be uplifted.

[JunaidAzizi]

Well, BTC is performing well if we look at its yearly and monthly charts. We can easily spot the changes. But I don't know why you are panicking about this downtrend. BTC is a highly volatile asset, and its prices change with time, so it's not a big deal. Yesterday, BTC's price dropped, but in the next movement, BTC went up again, so don't panic, Bitcoin is behaving normally.

Now, coming to another point, halving was never mentioned to suddenly raise the price of Bitcoin and start a bullish era. We need to wait, give it some time, and also take advantage of it. When Bitcoin goes down, take some part and wait for the next downtrend, which we normally call DCA methods.

[Hamza2424]

Hi forum mates. Good morning..BTC hasn't really performed to expectations since halving and right now we've been experience downtrend for a while. For experts here. When can be experience a reversal to the uptrend. And what do you think is the cause of this negative price action we've been seeing since June Started?

Op there's nothing special in this market condition, it's the usual pullback due to high sell pressure from the profit bookers side, there were a few negative news 7 developments but those are insignificant ones. So just chill market will take a run-up from here all we need to do is just hold patience for some time.

Sooner or later this tight range will get broken and market will be on track again towards the $100k

[pawel7777]

I believe that, according to the 4-year halving cycles, we should be ripe to start the climb-up. But then again, summer months don't tend to be the best ones when it comes to price growth, and there's the Mt Gox distribution scare still going on, which I believe is already largely priced in (when it comes to the psychological factors) but I imagine many potential buyers would still choose to sit on their hands maybe until August to see how all of this will pan-out.
But overall I'm rather positive. I expect we'll end July in green, but we might not break the ATH this month.

[0t3p0t]

Hi forum mates. Good morning..BTC hasn't really performed to expectations since halving and right now we've been experience downtrend for a while. For experts here. When can be experience a reversal to the uptrend. And what do you think is the cause of this negative price action we've been seeing since June Started?

I can still see Bitcoin being bullish on daily timeframe mate but since I think March 2024 up until now the price was consolidating between $60k and $70k and any breakout from the previous highs and lows would give us hint on where the trend will take us whether up or down so yeah better prepare for an entry but you can still trade on those support and resistance for a better profit.

[joniboini]

If I know when BTC will pump I think I'll just stay silent and accumulate steadily OP. After all, the more I buy the more I profits later. We don't have any magic ball so we don't know when it will happen. Even if you follow pattern analysis it should never serve as a guarantee, just a possibility or scenario that you should consider before taking any position. I remember seeing the rainbow chart being edited in real time because the pattern broke, not sure if that's what everybody follows though.

[Charles-Tim]

I can still see Bitcoin being bullish on daily timeframe mate

If this post was made on July 2nd, bitcoin is not bullish at all. If you see it to be kind of bullish, the price also later fell back. It is going down to almost $60000 again and again. If this continue, it is possible that $60000 which is the supportive price now could become later become the resistant price and that may not be good because that could indicate bear market coming. But the bull trend is not yet over even if bitcoin is bearish for now, this could later result to another bull run that could take bitcoin price to all-time high.

[jeraldskie11]

Hi forum mates. Good morning..BTC hasn't really performed to expectations since halving and right now we've been experience downtrend for a while. For experts here. When can be experience a reversal to the uptrend. And what do you think is the cause of this negative price action we've been seeing since June Started?

As what I have noticed in the price action of Bitcoin or any assets, the big impulsive move comes after taking the liquidity. What's happening in the market right now is seeking out a liquidity. Now, where can we found liquidity? It's either the swing points, imbalances, and order blocks. I expected for the price to take the liquidity below the $56,500, and I hope it's only a sweep as my confirmation for reversal.

[Fivestar4everMVP]

Hi forum mates. Good morning..BTC hasn't really performed to expectations since halving and right now we've been experience downtrend for a while. For experts here. When can be experience a reversal to the uptrend. And what do you think is the cause of this negative price action we've been seeing since June Started?

Like I think I've mentioned in another thread a short time ago, as of today, the price of bitcoin went below $60k which seems to have been it's support all this while, and currently as  I am typing this comment, the price of bitcoin is around $59,900 dollars, and the reason for this dip is because Germany are not yet done selling their $3 billion dollars worth of bitcoin, today, another thousands of bitcoin was transferred to an exchange by the German government for selling.
This is part of what have contributed greatly to the underperformance we are currently seeing with Bitcoin and the entire cryptocurrency market.

But then, like I will always say, this is a very good buying opportunity for those who have  more funds to invest, for at last, this bearish momentum won't last at all, in a couple of months coming, the sentiment around the market should have changed to a positive one with bitcoin and several Altcoins adding good value everyday.