What's the next step for BTC?

[Agbe]

Bitcoin is coming down rapidly right now. This morning I was seeing $61k but right now I am seeing $59k. Many people plus me.was thinking that the price of bitcoin would rise  after the halving but things are not the people have predicted and the opposite is the case here. And this downtrend will last for sometimes again before the price will regain itself. And before the price will increase again it will be from November and that is the time I discovered that it is normally increase since when I start the investment business. And the price is going down now it is better to wait a little bit to see if it can enter the dip again.

[sampoerna]

Just wait and be patient. The bullish era is a much awaited time for investors not to profit from their Bitcoin after long term investment. However, be patient when it's not time yet. Whether it's after the Bitcoin ETF approval or the halving, in fact it's not yet the time for Bitcoin to meet the bullish phase of the era, the epic season. So, what's there to worry about? nothing, because we believe that BTC will shoot up at the right time. At least we make sure to be patient until next year. Because based on the cycle, next year should be the peak season of bullrun.

Bitcoin is coming down rapidly right now. This morning I was seeing $61k but right now I am seeing $59k.

The price of Bitcoin is still very unstable and its volatility is quite high. Recently, due to negative news from the exchange, MT Gox, Bitcoin prices have fallen more frequently and even more deeply than before. This time, even Bitcoin hit a low of $59,417. And still struggling at that number. So, we can only be patient and make sure we don't panic about a situation that might be even worse in the future.
Lowest price of BTC in 24 hour:
https://coinmarketcap.com/currencies/bitcoin/

[Captain Corporate]

One thing to keep in mind that stuff are happening very quick but also very slow at the same time in the crypto world. Like we say that ETH will have proof of stake, but then that takes many years, and then suddenly tomorrow a new token may end up going to top 30 in a single day of release. So we do not know how quick or slow something will be, will the next step be something very quick, or will it be something that takes a lot of time. We should learn what to do and how to do it or we are going to end up being in the dark about this. I personally believe that we need to be careful with what we have, so that we are not really confused about it. I believe that we need to keep getting quicker results, because slower ones are harder, but eventually get one huge big one in the end.

[Kemarit]

Bitcoin is coming down rapidly right now. This morning I was seeing $61k but right now I am seeing $59k. Many people plus me.was thinking that the price of bitcoin would rise  after the halving but things are not the people have predicted and the opposite is the case here. And this downtrend will last for sometimes again before the price will regain itself. And before the price will increase again it will be from November and that is the time I discovered that it is normally increase since when I start the investment business. And the price is going down now it is better to wait a little bit to see if it can enter the dip again.

Yeah, it just shows how volatile and crazy the market is, and there is news about the Mt. Gox this July and that could really affect the market in short term so we should really wait for the bull run, eventually it had to happen, sooner or later. It went fro $59,000-$63,000, but now we are stuck again at $60,000.

And from what I read about the TA, we have been seeing double bottom, and so with that, $60,000 is the support line for now and hopefully it will stay that way and not be broken again. But if we look at the bigger picture, we should really be at a bullish perspective, and the best thing to do right now is accumulate as much as we can.

[akeemqaz]

I think the next step for BTC is reaching a new ATH. This might not be the biggest run, as many analysts have predicted that to occur in 2025.
In my opinion, Bitcoin will likely continue to surpass its previous ATH incrementally until then.

[dwyane36]

I think the next step for BTC is reaching a new ATH. This might not be the biggest run, as many analysts have predicted that to occur in 2025.
In my opinion, Bitcoin will likely continue to surpass its previous ATH incrementally until then.

The next step for BTC is most likely to continue the current bearish trend. There is a high probability that the price of BTC may fall to the support level in the range of $50-52k. As for the new ATH and BTC for $100k+, I think the analysts are right that it should be expected only next year.

[bhadz]

They said that it's about mt.gox, I don't follow that news though but for every dump that we're experiencing, there's always the reversal that will happen soon. When? I don't know but just be patient and wait for that reversal because it might happen anytime soon. I am seeing that many are disappointed with the price of BTC now. I understand you people if you've bought at the peak and then your port shows that you're negative but that's normal as an investor.

[Jamal Aezaz]

I think the next step for BTC is reaching a new ATH. This might not be the biggest run, as many analysts have predicted that to occur in 2025.
In my opinion, Bitcoin will likely continue to surpass its previous ATH incrementally until then.

Attaining new ATH during current situations looks like something difficult and i think it will take some months because today the price is 60k$ which is far from previously created ATH.

It is possible that we will see a new ATH in the year of 2025 because in the current year the price is going lower and lower without showing any good increase after halving. Once the price goes on higher than that of 73k$ then there will be a chance that attainment of 100k$ value will not be a difficult task.

[pawel7777]

So today we dropped to $56,600, so quite well below the $60k which some considered to be a strong support point.
The volume picked up quite nicely, which usually would be a bullish sign. I'm being optimistic and think we might see a rebound back to the $60k-$65k range soon.

[akeemqaz]

I think the next step for BTC is reaching a new ATH. This might not be the biggest run, as many analysts have predicted that to occur in 2025.
In my opinion, Bitcoin will likely continue to surpass its previous ATH incrementally until then.

The next step for BTC is most likely to continue the current bearish trend. There is a high probability that the price of BTC may fall to the support level in the range of $50-52k. As for the new ATH and BTC for $100k+, I think the analysts are right that it should be expected only next year.

I think I agree with you because the US and German governments reportedly continue to sell BTC, and we don't know when they will stop doing so.

[bitterguy28]

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?

Mostly it happens in the 4th quarter mate , and according to google ?

What are the best months to buy bitcoin?


To begin with, if a trader wants to increase the probability of making a profit, they may want to focus their buying on the October/November and April/May periods, which have historically posted the biggest average monthly returns for bitcoin.

https://www.google.com/search?q=bitcoin+uptrend+season&rlz=1C1KNTJ_enPH946PH946&oq=bitcoin+uptrend+season&gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIHCAEQIRigATIHCAIQIRigATIHCAMQIRigAdIBCTExNjYwajBqN6gCALACAA&sourceid=chrome&ie=UTF-8

which means you need to wait for another couple of months at least then you'll see what is next step for BTC , and also better for you make your step as well , try to purchase as the price now is really cheap .

https://coinmarketcap.com/currencies/bitcoin/

fell from 60kish to 56k? that is truly cheap .

[pawel7777]

^ For more context, here's the historical monthly profitability graph, which indeed shows that Q4 tends to be the most "green" period, with October having the highest median growth and November the highest average.

[MUGNIA]

^ For more context, here's the historical monthly profitability graph, which indeed shows that Q4 tends to be the most "green" period, with October having the highest median growth and November the highest average.

looking at this table, October is evenly green, only in 2014 and 2018 it is red, if I speculate I think in 2024 it will also experience a decline again, but how many percent cannot be confirmed because we haven't finished July until September, but I'm sure the storm will disappears in August and in September it will turn green

[Hamza2424]

From the last week it was unclear that in which direction market is trying to move but with a negative development with the fear and greed index now its clear that we were heading towards a surprise dump and accumulation zone, Should we call it a mini accumulation zone or something else anyway whatever now fear index is mood, we need to grab the opportunity.

Sadly now i don't have enough funds to get in more and more, still trying to hold and hoping for entry somehow. I was looking for a boring zone strategy for the entire July and August but i think there is need of the reconsideration for a new strategy because market is not behaving boring in any direction its super volatile, i would advise that such dumps are great opportunity if you still believe in Bitcoins new ATH.

[pawel7777]

looking at this table, October is evenly green, only in 2014 and 2018 it is red, if I speculate I think in 2024 it will also experience a decline again, but how many percent cannot be confirmed because we haven't finished July until September, but I'm sure the storm will disappears in August and in September it will turn green

To be fair, I wouldn't be putting too much weight on this type of metric. There's no clear correlation or a strong enough pattern to make any buy/sell decisions based solely on the monthly charts.
Look at March for example. If we were to base decisions on this chart in 2019, we would be selling, as we had 5 red Marches in a row, but the pattern reversed by 180 degrees, and in the last 4 years March was green.
The same could easily happen to October/November but the other way around.