Re: Bitcoin halving, how low the price can be?

Next month will be Bitcoin halving, how far can the price go down? or how high can the price go up?

The max it can go low is 50k usd. It won’t fall below it. The reason for which I am so confident is that, as Bitcoins will go down, more people will start buying it. Moreover we know that Bitcoins are fixed in numbers, hence if more people will buy it then the price to accumulate it will increase, leading to increase the demand. Hence as the demand is high and supply is less, automatically the price will go up. Hence, 50k will be the lowest price possible this halving. Now let’s see what happens.

Even really that hard to believe that we would really be going below 50k but well this market is truly unpredictable even on which if it doesnt have any negative sentiment or news behind on which prices could really be able to reach out those ranges without any reasons behind and this what makes unpredictable. This is why it would really be just that depending on you on how you would really be hovering yourself into this unpredictable space.

Seeing the current bitcoin price in the market continue dropping, I guess $50k would not be impossible anymore. There are two weeks more to go before the estimated halving date, so if the price will consistently create a price decline, we will definitely end up even with a price lower than $50k. Well, no one actually knows as to what price this correction stops, but one thing certain, it will eventually goes up again after bitcoin halving in preparation for the upcoming bull run.

It is true that we cannot know exactly how bitcoin will move, but I also believe that bitcoin is unlikely to drop to the $50k level at this time. According to what I just learned, there is a huge price support force at the $64k price range, the buying force is very strong at this price range so I am quite confident that the price will not be able to decrease any further. If the worse scenario happens, bitcoin will drop to $63k but then recover quickly and the purpose of this is also to sweep liquidity. I remain bullish about bitcoin's growth ahead of the halving event.