BTC hit 56k. Where do we go from here?

[Metha Wulandarin]

The most important thing is to be patient and not be seen continuously so that the heart and mind are not restless when Bitcoin experiences a big decline as happened yesterday, try not to open or check the wallet or funds in the market (CEX), keep thinking positively and start occupying yourself with other work or can be left sleeping lol why do I say that because it is not only one person who feels the same way but thousands to millions of people who feel the same way.

It's a bad habit to store crypto in an exchange either CEX or DEX. It's much better if you store in a non-custodial wallet where you alone should be the only one managing the crypto funds in a wallet. Checking for news won't be a bad idea either and checking price when you have the time to do and see if you will be able to gain profit or gain money to recover what you have lose when the price decreased.

For positions like now it is very difficult to get a profit even if only 5% yesterday Bitcoin had risen to $58k and now fell again to $54k too risky for now just pay first waiting for Bitcoin dominance to stabilize and Bitcoin prices to rise maybe there will be an increase for Altcoin.

[Pastaral]

Bitcoin has been slowly increasing in price since history.  But currently the Bitcoin market is dumping.  Due to this the selling pressure is a little higher.  At this time investors are investing with risk.  If they can sustain this investment for a long time then they will do well.  Because the Bitcoin market doesn't seem to be going down like this for much longer.  I think the Bitcoin market will be good again.

[bayu7adi]

In the short term, this will still be bearish... as a long-term holder, it would be good to immediately prepare additional funds to pocket more BTC when the price hits $50k... it's not impossible, because BTC has penetrated the support point several times.. . So the biggest possibility for BTC in the near term will continue to fall to the $51k-$54k level...

Long term, there are still many who believe it will break through to over $100k, including me. Take your steps with your responsibility too.

[Sarionadukecom]

In the short term, this will still be bearish... as a long-term holder, it would be good to immediately prepare additional funds to pocket more BTC when the price hits $50k... it's not impossible, because BTC has penetrated the support point several times.. . So the biggest possibility for BTC in the near term will continue to fall to the $51k-$54k level...

Long term, there are still many who believe it will break through to over $100k, including me. Take your steps with your responsibility too.

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

55k ATM and bearish

[Ricardo11]

From the current state of bitcoin price movement it doesn't look like bitcoin will recover very quickly, it may take a few more days, currently the market value of bitcoin is $57,612, down 9.6% from last week, I think. We will not see much change in its price in the next few days. It will go up and down like this. But we have to continue holding, Bitcoin will definitely pump again, but until then we have to focus more on holding.

[JISAN]

This month didn't start good fr crypto traders due to BTC instability. Let's share ideas. Where do you think we're headed. Downhill or back to 70k?.

You may know that Mt. Gox moved 140,000 BTC from their wallets worth about $8.5 billion Bitcoin prices began to fall sharply after this news. On the other hand, the German government's transfers $172 million worth of bitcoins to the exchange it means they selling bitcoin. Due to which the market started to dump. Many are predicting that the price of Bitcoin will drop further to below $40k. After hearing such news, many panic sellers also started selling Bitcoins. All these activities have driven down the price of Bitcoin, including all other coins. Such condition of the market scares us a lot. I still hold onto my bitcoins.

[bounceback]

You may know that Mt. Gox moved 140,000 BTC from their wallets worth about $8.5 billion Bitcoin prices began to fall sharply after this news. On the other hand, the German government's transfers $172 million worth of bitcoins to the exchange it means they selling bitcoin. Due to which the market started to dump. Many are predicting that the price of Bitcoin will drop further to below $40k. After hearing such news, many panic sellers also started selling Bitcoins. All these activities have driven down the price of Bitcoin, including all other coins. Such condition of the market scares us a lot. I still hold onto my bitcoins.

Both bad news make bitcoin drop significant from Mt.Gox move 140k bitcoin and other side Germany government make movement their bitcoin assets worth it around $172 million dollar. Indeed both side not announce yet will selling bitcoin but the movement bitcoin from one wallet to other wallet make many people get panic for selling their bitcoin and can't imagine if United State have worth bitcoin values above Germany government make the same thing.
Last bad news waiting for how possibility Bitcoin around 140 amount moving from Mt.Gox wallet refund to their user, its automatically make bitcoin get dump drastically and not close opportunity drop until $40k.

[LogitechMouse]

This month didn't start good fr crypto traders due to BTC instability. Let's share ideas. Where do you think we're headed. Downhill or back to 70k?.

I don't want to say that it didn't start good for crypto trader because those who are trading in futures can still make profit even though the market is down through shorting. In general though, most of the traders might lost some of their money because of this downfall especially those who are doing spot trading.

Where do we thing we're heading? I should say that we are starting to make gradual increase in the upcoming weeks. The $54,000 is acting as a short term support and when we see Bitcoin going below it and stayed for a few days, we might see even more downside pressure, but for now, I believe we will be seeing an upward movement although it will not be as huge as many are expecting. At least we will see signs of recovery.

That's my prediction only.

[Metha Wulandarin]

Bitcoin has been slowly increasing in price since history.  But currently the Bitcoin market is dumping.  Due to this the selling pressure is a little higher.  At this time investors are investing with risk.  If they can sustain this investment for a long time then they will do well.  Because the Bitcoin market doesn't seem to be going down like this for much longer.  I think the Bitcoin market will be good again.

Everyone is expecting what you are expecting too but the movement of funds continues to continue it went up to $57k and now back to $55 the price of Bitcoin now seems to be made a game it looks like it will continue to the price of $52k but hopefully not

[SmartGold01]

Usually I don't see much effect on the market that could make it to have increase towards this month, like I see this month has proven to be negative one to bitcoin market because right from the beginning of this month we have been seeing decline in bitcoin price unlike the few months past. But I believe next month could come with a New wave maybe who knows what will happen if we could achieve back 66 to 70k benchmark because there is no positive sign in the market to show that something good would happened.

[taufik123]

As long as we choose reputable CEXs, it is no problem to save temporary in CEX wallets. However, we must ensure that we don't use too big amount of money. Sure, we only store the coins for trading, we don't send the coins for a long term holding such as Bitcoin and Ethereum. Those long term assets should be on the non custodial wallets.

A tier 2 CEX like Binance is a recommendation for me because I use it to date.
I do a lot of trading on Binance because it is my main CEX for trading and storing some coins for short-term trading.

We even could buy below $54k yesterday. I agree it is interesting to buy at that price because it is cheap enough. I'm sure it won't be difficult to cross again $60k.

It won't be difficult to get back to $60k, because it's still a pretty low price.
now it is only necessary to wait for Germany to stop selling Bitcoin, when it is time for a reversal of direction I am sure the price will be higher than $60k and will enter on a bullish trend again.

[pieppiep]

Usually I don't see much effect on the market that could make it to have increase towards this month, like I see this month has proven to be negative one to bitcoin market because right from the beginning of this month we have been seeing decline in bitcoin price unlike the few months past. But I believe next month could come with a New wave maybe who knows what will happen if we could achieve back 66 to 70k benchmark because there is no positive sign in the market to show that something good would happened.

The pressure on the decline in Bitcoin prices is very visible. It can be seen that Bitcoin price movements do not find support to rise again to $70k again. Every time the price rises a few percent, the price of Bitcoin will fall again. This method makes many trapped by whales which are very scary when it comes to influencing Bitcoin price movements. This phase will probably last until the end of this year. If there is no good news that can trigger Bitcoin prices to rise, next year there will be a bearish season on a fairly large scale.

[SmartGold01]

Usually I don't see much effect on the market that could make it to have increase towards this month, like I see this month has proven to be negative one to bitcoin market because right from the beginning of this month we have been seeing decline in bitcoin price unlike the few months past. But I believe next month could come with a New wave maybe who knows what will happen if we could achieve back 66 to 70k benchmark because there is no positive sign in the market to show that something good would happened.

The pressure on the decline in Bitcoin prices is very visible. It can be seen that Bitcoin price movements do not find support to rise again to $70k again. Every time the price rises a few percent, the price of Bitcoin will fall again. This method makes many trapped by whales which are very scary when it comes to influencing Bitcoin price movements. This phase will probably last until the end of this year. If there is no good news that can trigger Bitcoin prices to rise, next year there will be a bearish season on a fairly large scale.

Not too sure about this but I believe history may repeat itself because this year that halving took place at same time we experienced a significant price increase in bitcoin that made it achieve it's ATH, and of a true according to history next year should be the year we are to experience full bull run instead it was achieved even before halving meaning there is every possibility to also see bitcoin creating new price level.

[Metha Wulandarin]

Usually I don't see much effect on the market that could make it to have increase towards this month, like I see this month has proven to be negative one to bitcoin market because right from the beginning of this month we have been seeing decline in bitcoin price unlike the few months past. But I believe next month could come with a New wave maybe who knows what will happen if we could achieve back 66 to 70k benchmark because there is no positive sign in the market to show that something good would happened.

Honestly I personally still expect the price of Bitcoin to remain below $60k maybe my hope will make someone unhappy because most people expect Bitcoin to continue to go up and up like there is no decline even they all already know that Bitcoin will experience ups and downs but they don't seem to want a decline at all I am not a late person to buy Bitcoin but I expect Bitcoin to continue to be below the price of $60k until the end of this year but hopefully that doesn't happen because a lot of people expect Bitcoin to rise past ATH.

[Hamza2424]

This month didn't start good fr crypto traders due to BTC instability. Let's share ideas. Where do you think we're headed. Downhill or back to 70k?.

hmm, now people are speculating about the market downfall towards the 48k and so on, but keep in mind that the market always behaves against what most people think in recent times people were bullish about the BTC and making speculation for the 80k and the market made a move totally against it, and started a downtrend. So this indicates that the market has its own plans.