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

[Captain Corporate]

Up. We are already above 57, and anyone who knows a bit about bitcoin would know that we are going to go up, and that's going to be fine. I know that its not easy and I know that we are going to take some time, but we are going to get there eventually. We should really realize that we can't make it work any other way, we couldn't really make it work some other way, and it should be a good way to improve the situation. This has to be something that will get bigger and better, its just not that complicated. I feel like it can't be all that confusing, it just needs to be considered a little bit waiting period, if we wait enough, it will go up.

[Roseline492]

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.

Good observation because in as much as people are seriously trying to figure out the actual direction of Bitcoin that is how it will keep going the opposite direction because I also saw so many people speculating earlier before this time when Bitcoin was still ranging within $70k and most people were very certain of the price breaking above $85k but at the end reversal was the case.

So actually this could possibly be the case of people who believes that Bitcoin price will still drop more further below the $48k, so perhaps it will be very bad for someone to wait for a long time just to buy within a certain price and at the end they could not even get any amount of Bitcoin because of high expectation, so perhaps as I always mentioned this is actually the right moment for those who are still waiting for more dip to buy.

[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.

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.

If you think this then it may not be possible because price is not always stagnant at a particular place what makes bitcoin a tradable assets is the ability to be able to change in price and with this people are making there profits through as they keep trading the asset and to their follow pairs. Bitcoin always change in price to meet people's demand by regularly hitting low and high, if this aren't there then we can say it could be hard for trading bitcoin even as that there's always period assigned for the both seasons being Bull run and Bear season.

[sampoerna]

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?.

And you will definitely be very surprised when the price of BTC falls even more a few days later. Yes recently, Bitcoin did reach $54.09. Isn't that much worse, right? Where do we ask why the market dropped so much? So there is indeed some negative news regarding this. So, make sure that we always follow the BTC price which can drop significantly too.

[Baofeng]

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?.

And you will definitely be very surprised when the price of BTC falls even more a few days later. Yes recently, Bitcoin did reach $54.09. Isn't that much worse, right? Where do we ask why the market dropped so much? So there is indeed some negative news regarding this. So, make sure that we always follow the BTC price which can drop significantly too.

Yeah, we can't do nothing about the market right now, June-July seems to be bearish as we went as low as $54k, and then we come back strong at $58k and I thought there is a good chance to hit $60k.

Anyhow, we should accept what the market offers us this July. We could be in the sideways for this month. Just be smart and continue to accumulate and we will be good in the long run.

[dwyane36]

Yeah, we can't do nothing about the market right now, June-July seems to be bearish as we went as low as $54k, and then we come back strong at $58k and I thought there is a good chance to hit $60k.

Anyhow, we should accept what the market offers us this July. We could be in the sideways for this month. Just be smart and continue to accumulate and we will be good in the long run.

There will still be a bearish trend, even if the BTC price reaches $60k shortly. The bulls look weak at the moment, and it doesn't look like the bears will let them break the current trend.
Honestly, I think we can expect a really strong bullish trend either at the end of this year or as early as next year.

[bounceback]

There will still be a bearish trend, even if the BTC price reaches $60k shortly. The bulls look weak at the moment, and it doesn't look like the bears will let them break the current trend.
Honestly, I think we can expect a really strong bullish trend either at the end of this year or as early as next year.

During bitcoin not stable raise to higher price not close opportunity with bearish moment every time exactly last two months bitcoin show downtrend moment after dropping drastically during reach all time high price above $73k.
I don't sure in near future bitcoin has moment break out to higher price regarding every day sideway and easily bitcoin dropping although has easily chance get back recovery going up.

During bitcoin still not stable yet, I take opportunity with short term trading and try as faster possibility take profit although with few percent regarding has opportunity to buy back on lower price.

[Metha Wulandarin]

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.

I think for now Bitcoin will have difficulty breaking the price of $60k now the market is still dominated by sellers now all eyes are on Germany because there are many allegations that Germany is selling Bitcoin in large quantities The German portfolio is now $283.45m so if Germany sells everything it is likely that the decline in Bitcoin will continue.

[Hamza2424]

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.

I think for now Bitcoin will have difficulty breaking the price of $60k now the market is still dominated by sellers now all eyes are on Germany because there are many allegations that Germany is selling Bitcoin in large quantities The German portfolio is now $283.45m so if Germany sells everything it is likely that the decline in Bitcoin will continue.

We cant say that, because it's a crypto market, haha here most of the scenarios are always abnormal. We cant even imagine what kind of trick the market can play next time, all we can do is adopt a neutral strategy for every case. TBH I just love such surprises by market. Here are some facts that need to be considered to speculate anything and this one is worth considering, but I'm not sure what big impact it can make.

[Dr.Bitcoin_Strange]

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.

Good observation because in as much as people are seriously trying to figure out the actual direction of Bitcoin that is how it will keep going the opposite direction because I also saw so many people speculating earlier before this time when Bitcoin was still ranging within $70k and most people were very certain of the price breaking above $85k but at the end reversal was the case.

I quite agree with you! The cryptocurrency market or rather Bitcoin is one of the most volatile assets that always seem to operate in the opposite direction of people's expectations. The market is like something that that has a mind of its own and full of surprises; perhaps, it enjoys the act of confounding everyone. This is termed the contrarian effect or the crowd psychology ; this is when everyone seems to be pretty sure of the market's next direction and then it proceeds to do the opposite. This is due to the fact that the market comprises of a number of participants who may have different attitudes, objectives and risk tolerance.

 As you have rightly pointed out, many traders and investors seemed profound in their belief that the price of Bitcoin would rise above $85k, only for it to decline and head in the other direction. This is just one great example of how the contrarian indicator works

[Jamal Aezaz]

Bitcoin is lower in value but it does not mean that we will be in fear of losing money because wise individuals are making investments in such circumstances and only those who are fearful, having little knowledge cannot trust that the circumstances can change from dump to pump. It is possible that Bitcoin will again touch the value of the above 70k$ but when it will happen it is not easy to know so be patient if you have already made an investment but if not have done yet then do investment now as the price is suitable for those who want investment in Bitcoin. The price now is 57k$ and it is not possible that with the increasing demand Bitcoin will remain lower forever therefore don't panic and continue your investment.

[kulkhan]

I think now market situation is not looking good. May Bitcoin and another currency price will go more down. So my advice we have to avoid trading and just hold who bought already. But it will be better if our fund collect as stable coin or anyone can DCA it also good decision i think.

I am also following DCA method. Because i think market will go down more. So my planning is buy Bitcoin every week.

My prediction we are going to see bitcoin price near about $45k.

[Metha Wulandarin]

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.

I think for now Bitcoin will have difficulty breaking the price of $60k now the market is still dominated by sellers now all eyes are on Germany because there are many allegations that Germany is selling Bitcoin in large quantities The German portfolio is now $283.45m so if Germany sells everything it is likely that the decline in Bitcoin will continue.

We cant say that, because it's a crypto market, haha here most of the scenarios are always abnormal. We cant even imagine what kind of trick the market can play next time, all we can do is adopt a neutral strategy for every case. TBH I just love such surprises by market. Here are some facts that need to be considered to speculate anything and this one is worth considering, but I'm not sure what big impact it can make.

On July 13, the German government has sold all Bitcoin holdings with a total of $2.9 billion, if indeed Bitcoin is forced down, maybe there will be FUD or mtgox who will also sell all their Bitcoin holdings.
Maybe some people like the surprises that occur in the market but if Bitcoin goes down too deep it will affect the upcoming Altcoin season, of course it takes a lot of funds to restore Bitcoin to its highest price.