Can Bitcoin get back at 50k anytime this year?

[Henrywrites]

The current month of August has seen big dips in Bitcoin prices as the price dropped from 30,000 dollars to be between 26,000 dollars and around less the amount. This makes me wonder whether we are going to experience another boom in BTC price as we had last year. What do you think about a 50k target this year?

 

[Riberet19]

This year? I honestly don't think so, the crypto market is very affected right now, the interest level is very low, and the technical analysis itself shows that the highest probability is that we will continue to go down right now, there should be a powerful enough catalyst to rise Bitcoin at those prices, and right now there doesn't seem to be any, perhaps at the end of next year we will be at those prices again, also on the other hand the state of the economy is very weak right now and interest rates havent even started to drop

 

[Henrywrites]

This year? I honestly don't think so, the crypto market is very affected right now, the interest level is very low, and the technical analysis itself shows that the highest probability is that we will continue to go down right now, there should be a powerful enough catalyst to rise Bitcoin at those prices, and right now there doesn't seem to be any, perhaps at the end of next year we will be at those prices again, also on the other hand the state of the economy is very weak right now and interest rates havent even started to drop

I believe that a lot of controversies that hit the crypto currency market didn't help matters. Top project managers of some popular coins having one scandal or another. It was really a shame and I wonder why a lot of those things has to happen.

 

[Shortie]

I think it would be a stretch to see Bitcoin at 50K this year. The way the markets have been just recently it does not look like it would be able to reach that high.

Who knows, maybe it may prove us wrong and many would love to see that but for now, I guess we sit and wait but I would not get my hopes up to see it reach that high.

 

[Riberet19]

I believe that a lot of controversies that hit the crypto currency market didn't help matters. Top project managers of some popular coins having one scandal or another. It was really a shame and I wonder why a lot of those things has to happen.

I do not know since when you have been in the crypto market, but I have been since the previous bear market, in some point at the beginning of 2019, and I had been following the market and the news in 2018 also without having invested yet, and it did not resemble this cycle much, it is true that there were many scams with the ICOs issue, but this cycle has been really crazy with so many scams and so many events, it's really been too outrageous.

 

[Ja Sa Bong]

I don't see what's going to make Bitcoin make its way back to $50,000 this year. The timing isn't right with halving of coins coming up next, everything isn't in motion to pump Bitcoin to that amount this year. It looks achievable by 2025.

 

[Heatman]

Well, I can tell you that Bitcoin can get to even it's last all time high of $67k+ but it's a plain truth that it's never going to happen this year and definitely not even in December. I still don't see it happening next year 2024 but there's a big chance of that happening after 2024. It's what all Bitcoin investment holder are looking forward to.

 

[Nomad]

We are in the third quarter of 2023 and the price of Bitcoin is under $26K, can it gain $24K to reach $50 in the next three months? I don't see that happening., But when it comes to crypto, you cannot become sure of anything.

 

[Ja Sa Bong]

Bitcoin will fall more than what it's currently at in $25,800 than it's going to be reach $50,000 this year. My advice to anyone who wants to invest in Bitcoin would be not to do anything till the next 6 months around March 2024.

 

[Nomad]

Bitcoin will fall more than what it's currently at in $25,800 than it's going to be reach $50,000 this year. My advice to anyone who wants to invest in Bitcoin would be not to do anything till the next 6 months around March 2024.

Contrarily, I believe bitcoin will gain price by the end of the year. Elections are coming in the US and the potential candidates have openly supported Bitcoin and crypto. I think this will create favorable con ditions for the market.

 

[Ja Sa Bong]

Contrarily, I believe bitcoin will gain price by the end of the year. Elections are coming in the US and the potential candidates have openly supported Bitcoin and crypto. I think this will create favorable con ditions for the market.

If it's for Bitcoin to reach $50,000 this year, I don't see it happening no matter what's happening in the USA election. If the upcoming election was going to make the price fly up, we would have seen it by now.

 

[Nomad]

If it's for Bitcoin to reach $50,000 this year, I don't see it happening no matter what's happening in the USA election. If the upcoming election was going to make the price fly up, we would have seen it by now.

Do you remember what happened in 2021? At the beginning of the year, bitcoin was around $40k but by November, Bitcoin was around $68K. You cannot be sure of the crypto market, anything can happen. However, just like you I also do not think it will reach $50 this year, however, I do believe thew price will greatly improve by the end of the year.

 

[Ja Sa Bong]

Do you remember what happened in 2021? At the beginning of the year, bitcoin was around $40k but by November, Bitcoin was around $68K. You cannot be sure of the crypto market, anything can happen. However, just like you I also do not think it will reach $50 this year, however, I do believe thew price will greatly improve by the end of the year.

Don't get me wrong, I want the bullish market on cryptocurrency to return as quickly as possible but it's just that with so many analysis I've seen and even the one's I carried out on my own, there's no indication showing we will be seeing Bitcoin at $50k this year.

 

[Riberet19]

Don't get me wrong, I want the bullish market on cryptocurrency to return as quickly as possible but it's just that with so many analysis I've seen and even the one's I carried out on my own, there's no indication showing we will be seeing Bitcoin at $50k this year.

Furthermore, the year is close to the end and as you say, there are no indicators that indicate us that the price could double in the remainder of the year, It is extremely unlikely.

If it were to rise so much for no apparent reason, it would really be very strange and also unhealthy for the crypto market, I think the price of bitcoin right now is fair.

 

[Ja Sa Bong]

Furthermore, the year is close to the end and as you say, there are no indicators that indicate us that the price could double in the remainder of the year, It is extremely unlikely.

If it were to rise so much for no apparent reason, it would really be very strange and also unhealthy for the crypto market, I think the price of bitcoin right now is fair.

Yes, it's true though because looking at the time of the year now which is October, it's 3 months max and December is up. It's not enough to see Bitcoin make the move needed to see it at $50k. As you stated, it would really be very strange and also unhealthy for the crypto market for we to see this move made out from no where. It means there's a new key in play we are not aware of.

 

[Riberet19]

Yes, it's true though because looking at the time of the year now which is October, it's 3 months max and December is up. It's not enough to see Bitcoin make the move needed to see it at $50k. As you stated, it would really be very strange and also unhealthy for the crypto market for we to see this move made out from no where. It means there's a new key in play we are not aware of.

Exactly, although Bitcoin since October began has behaved bullishly, but I do not think that this momentum is enough to reach fifty thousand dollars, in fact, I do not think we will even reach thirty thousand, but well, we will see what happens from now on since the market is too unpredictable right now.

 

[Ja Sa Bong]

Exactly, although Bitcoin since October began has behaved bullishly, but I do not think that this momentum is enough to reach fifty thousand dollars, in fact, I do not think we will even reach thirty thousand, but well, we will see what happens from now on since the market is too unpredictable right now.

What I think the price is doing is that it's building up liquidity which it's going to use to take away buyers money. This small bullish move is to entice buyers into the market, if they buy up the liquidity, the price will fall again.

 

[kirubel]

The current month of August has seen big dips in Bitcoin prices as the price dropped from 30,000 dollars to be between 26,000 dollars and around less the amount. This makes me wonder whether we are going to experience another boom in BTC price as we had last year. What do you think about a 50k target this year?

In my opinion the highest bitcoin price will be 35,000$ because the price of bitcoin is facing some difficulty getting more than 30,000 even it dropped to 24,000 this year but now its around 30.000 and if it continue like this it may get up to 35,000$, actually its hard to guess the price of bitcoin because last year it hits 60,000 from nowhere and now it may get higher.

 

[Riberet19]

In my opinion the highest bitcoin price will be 35,000$ because the price of bitcoin is facing some difficulty getting more than 30,000 even it dropped to 24,000 this year but now its around 30.000 and if it continue like this it may get up to 35,000$, actually its hard to guess the price of bitcoin because last year it hits 60,000 from nowhere and now it may get higher.

Perhaps if the market this year also has a Christmas rally as usually happens at those times of the year, bitcoin could reach $35,000. In fact, I believe that on January 10 there is a pending application for a Bitcoin ETF that has an expiration date. that day and there has to be a resolution, they should reject or deny it, that could move the price violently, I think it is the ETF requested by ARK Investments

 

[Heatman]

In my opinion the highest bitcoin price will be 35,000$ because the price of bitcoin is facing some difficulty getting more than 30,000 even it dropped to 24,000 this year but now its around 30.000 and if it continue like this it may get up to 35,000$, actually its hard to guess the price of bitcoin because last year it hits 60,000 from nowhere and now it may get higher.

My analysis for Bitcoin price this year is that it is capable of getting within the zone of 40,000 dollars but I can't really say much about getting to the zone of 50,000 dollars by December. I can see very well that the price of Bitcoin is not making its way close to 35,000 dollars and there is a possibility of it reaching for 40,000 dollars by December.