Quote from: Ratimov on September 15, 2022, 05:29:50 PM

Quote from: EarnOnVictor on August 29, 2022, 06:30:22 PM

A Lot of damages have been done to Bitcoin in 2022, which is partly due to the economic woes of the world and high inflation plaguing global markets among other factors. The Crypto has been holding its ground tightly above the low of June 2022.

My question is, will Bitcoin hold the rest of this year above the low of June at 17625.00 or the level will be breached before 2023?

After an encouraging rise to $23,000 in September, bitcoin is once again looking towards testing the bottom. There is a lot of possible negative news ahead that could also affect Bitcoin and the entire market as a whole. From the long-awaited distribution of bitcoins to the affected investors of the MtGox exchange, ending with the Fed raising rates by 0.75% or higher. Fundamentally, bitcoin is very weak right now, selling pressure remains, and there are not enough new investors to support demand. We are still inside the global bearish trend and the probability of updating the bottom is extremely high.

It is obvious you understand what the market is doing rather than those holders and traders that are too sentimental about only the bullish trend of Bitcoin. I voted for the hitting of the low of June immediately after I opened this thread/poll, and the feasibility of the market hitting the level is surer this week. The reality is there as the weekly and monthly charts remain bearish on the Crypto.

However, my bearish sentiment resumed last week Tuesday, and you might want to check/review my daily speculations at: https://bitcointalk.org/index.php?topic=5410763.0

Quote from: Fortify on September 15, 2022, 09:56:44 PM

Quote from: EarnOnVictor on August 29, 2022, 06:30:22 PM

A Lot of damages have been done to Bitcoin in 2022, which is partly due to the economic woes of the world and high inflation plaguing global markets among other factors. The Crypto has been holding its ground tightly above the low of June 2022.

My question is, will Bitcoin hold the rest of this year above the low of June at 17625.00 or the level will be breached before 2023?

It certainly feels like Bitcoin has followed the general trend economy downwards, but the worst times are yet to fully hit. When there was lots of cheap and readily available money, people got carried away and poured it into these risky assets. Now the belt is tightening and crypto simply has not been around long enough to show that it can weather a recession. Covid was a bizarre case and the financial crisis occured a year or two before bitcoin was even created. It feels like we are yet to see the lows that are coming as people need to cash out.

You are right, Bitcoin gained during Covid-19 surge, and this helped it till today. The pandemic made it gain more popularity and adoption while inflation was still nothing to the Crypto then. But the situation has changed, which is caused by its adoption by financial institutions, Defi and others. So, this forced it to be behaving like the real market, while its asset class is risk-on. Risk-on assets will always fall when there is inflation and uncertainties around the world's economy just as we see today.

Quote from: Kadal Ijo on September 16, 2022, 01:14:52 AM

I hope that the lowest price that has occurred in 2022 is $ 17k not happening again, seeing the trend that occurs in the market I am optimistic that the price will be in the range of $ 20k to $ 30k, the most important thing is now to focus on continuing to buy before bull run, Successful investors never think pessimistic.

You are not just right about what you wrote here. First, Bitcoin will surely hit $17K soon, but I am not sure if it will break and hold below the level for a long. Second, don't misquote the successful investors, they know when to buy and sell their investments, which makes them successful. This is why they are good speculators rather than always being hopeful that their investment must yield. They always plan their risk management properly.

Quote from: Silberman on September 18, 2022, 10:26:32 PM

Successful investors take into account every single possibility and then act based on the best strategy they have available at the time, while it's obvious I don't wish for the price of bitcoin to go any lower anymore the reality is that this is something which it may happen, and as such we need to be prepared for it, this way if we happen to see a drop which makes the price of bitcoin to go lower than the current low of this year we'll not be surprised by it and instead of panicking and selling our coins we may take the decision to buy the dip instead.

You have expressed yourself sensibly, and I appreciate this a lot. No one should be a blind trader or speculator, we should be acting based on what we realize the market is doing. For now, it is all negative for Bitcoin, it might fall beyond what we expected.

Quote from: STT on September 18, 2022, 05:34:29 PM

Larger picture seems to over ride the smaller swings back and forth. We are caught on the 200 week average and viewing the 200 day average decline from some distance. Perhaps these two measures need to be closer before anything happens, as both are slow movers we will be waiting some time. We are not negative so much as sideways in conclusion

You had better learn how to speculate the market properly rather than using the analysis of this picture attached. It will make you lose if you don't confirm it with other strategies.