Quote from: btc78 on Today at 04:13:02 AM

Quote from: banban007s4 on August 12, 2022, 08:03:55 AM

my personal opinion is that the bottom is in and the next bull market are going to be nothing short of game changing.

bottom is IN? why not post this when the price reach 17k ? now that the price is at 24-25k you are pointing about Bottoming ?

I think quite obviously, unless you have a crystal ball how would you know $17.5K would be the bottom? Sure it's possible to see how this level could act as support, based on volume data from late 2020, as it was the only relevant trading range between $12K and $30K. Therefore calling the bottom should only really be done once price has confirmed strong support, regardless of whether that's 20% or 40% higher. As I referenced previously, if you were looking for certain confirmation of a bottom in 2015 or 2019, then these would arrive anywhere up to 100% up from the low, as well as take several months to confirm. Now it's been around 2 months and price has increased 40% from the low, it's about the right time to consider it, not before.

Quote from: minairia3 on Today at 12:52:27 PM

Quote from: btc78 on Today at 04:13:02 AM

it may not reach ATH again , but at least 40-50k usd is in our front this year before closing the 2022 in December .

Is it possible?, I think 50k dollars is too much to end the year on such a high note. It is my hope that bitcoin will achieve, but I do not think this will happen. Currently, we are still under $30k, and if the bitcoin price can really break through $30k, we can expect to hit $50k by year end. With the condition that inflation from now to the end of the year will have positive changes like last month.

Simple answer, yes it's possible. Just like most thought that retracing 60% of the bear market back to $14K in 2019 was impossible, doing the same thing again to $50K is entirely possible. Some would argue that it's quite likely even, such as myself. Price doesn't have to end on a high note by the end of the year if $50K is achieved within the next few months either, it could still end up around $25K to $30K.

$30K to me will be the key level to break in order to see price reach $40K to $50K levels in the near future, as it was strong support for 18 months. If 2019 is anything to go by, then this long-term support level could break very easily such as the $6K to $8K level back then, mainly due to the number of trapped shorts and the short squeeze that occurred, which could certainly happen again this time around.