Do you believe that the new support zone of BTC is $10k?

[Flow-er]

With the recent downturn in Bitcoin, it has been so devastating for bitcoiners because presently, we are recording huge amount of losses. The question remains will downturn continue or will bitcoin continue in its downward trend? If bitcoin does dips down further, it will cause lot of havoc in the cryptocurrency space because so many cryptocurrency'a price determination depends solely on bitcoin price movement. This is basic facts and it is evident in what we see happening presently.

however, we don't really know if it is possible for bitcoin to survive it if it hits the $10 in the future. Will it be possible for bitcoin to bounce back if it reach this particular Mark because it has been predicted that the new support for bitcoin is $10k and it will be so difficult for so many crypto investors to bare this.

If the new support zone of Bitcoin is $10k, that means that we should expect it to hit the $10,000 Mark before it bounces back. It is based on prediction, we hat we never knew what is really going to happen in the future but the downturn was seen to be caused by the cryptocurrency regulations that is going on all over the world. This will make bitcoin a government controlled digital currency.

 

[Lens1000]

There's no doubt that bitcoin is the best cryptocurrency and it is actually gaining traction among to the crytpocurrency enthusiast. Presently, bitcoin has gone down tremendously and experts have predicted that the new support zone for bitcoin is $10,000 and it is very possible that the support zone becomes $10,000 truly, if the prediction is right.

The cryptocurrency market is currently going down the drain and we don't expect it to go down further because the bulls are not in control of the market. The rookie traders are probably the cause of the price and the global cryptocurrency regulation is exactly instrumental in the downtrend of the cryptocurrency market. This is a major reason why one need to be very careful in cryptocurrency investment because of the level of volatility.

Experts have predicted that the regulation that is been integrated into cryptocurrency system by most of the countries of the world would make the cryptocurrency world dip and that is exactly what we are experiencing now and we pray that it doesn't crash further
The crypto regulation that was integrated by most of the countries has made cryptocurrency government controlled digital currency and that is the cause of the major fall in the cryptocurrency market now.

 

[Shaf]

It depends on how strong that $10,000 is as a support zone, based on how many times it was touched by recent price action and how it held. If it's a strong monthly or weekly support too, that makes it much more significant and thus we can expect that there will be a cluster of orders there to make it an attractive enough liquidity zone that will attract whales.

The hint is to know if $10,000 is a liquidity zone for supply or demand. If the supply is more, it won't hold but if there's significant demand,.it will hold and could be a potential bottom.

In this type of market though, I would rather DCA into Bitcoin if I have the capital for long term holding, but if it is not much, it will better to wait for the price to go back above the 21 week EMA where price action become more bullish.

 

[profito]

In life, if you are into business or some kind of investment, you should know that generally venturing is made of ups and downs

 

[Lens1000]

The downturn in cryptocurrency most especially the Bitcoin is a big surprise to everyone. Presently, bitcoin is being traded at $20k which is very low and it has made so many bitconers to lose lot of money. The prediction that the support zone of Bitcoin is $10k may actually come to pass because if you look at what is really happening in the cryptocurrency presently, there's every tendency that the Bitcoin will keep declining. it has never surge since it has been declining steadily and that shows that the decline will continue until it hit the support zone that was stated to be $10k .

Although, we do not know if the prediction will follow the trend. it will be very important to find out that the the bitcoin has the history to surge in the future despite the turbulence. The Bitcoiners are strongly advised to keep holding the bitcoin because panic selling is actually what is causing the decline in the price of Bitcoin. Prediction that was made me come to pass because if we look at the trend at which the Bitcoin is moving right now, it is a clear indication that it may reach $10000 before it make a rebound.

 

[Suba]

In my opinion, it is impossible for Bitcoin price to reach the support zone, $10k. Although on Wednesday June 15, 2022 the Fed has raised interest rates aggressively by 75 basis points, and maybe tomorrow or the day after tomorrow will raise interest rates again, also according to news I heard several central banks of Hungary, Britain, Indonesia and Switzerland will also raise interest rates to contain inflation. Of course, the increase in interest rates in several countries will make the Bitcoin price even more sluggish. Personally I have made several analyzes, first if the price of Bitcoin drops below $20k, there will be an ultra-extreme panic in the crypto market, you need to know that Bitcoin is currently dominated by big investors (whales). there will be substantial buying pressure, because in the long run the value of Bitcoin will remain intact. Second, technically if the price of Btc is below $20 it will continue to drop to $15k per BTC. Historically, the bearish trend that occurred in 2018 fell drastically to close to $3000 per Btc or decreased by 80%. So in the current cycle, counting from ATH Nov 2021 then the lowest Btc price is $13,700

 

[SpenserReed]

If the new support zone of Bitcoin is $10k, that means that we should expect it to hit the $10,000 Mark before it bounces back.

It also can be 10k bounce because whales need to accumulate BTC cheaper...

 

[Melanie Terrell]

Looking at the current charts and the continuous down trend, I think the new support zone of bitcoin will be around $10k, or at least a little close to 15k USD. If the price drops lower below this expected level, many bitcoin investors will be truly disappointed.

 

[captainKazoo]

Doubtful that Bitcoin can survive the $10K mark at some point in the future. Whether bitcoin can recover if it hits this mark is a question that many cryptocurrency investors are asking.

 

[Lens1000]

Initially I predicted the new support zone of bitcoin to be $10K but unfortunately before it reach that line, it begin to make a rebound. This is to show that it is probably possible that the bullish market has resumed which is what most of the cryptocurrency investors are always on the lookout for to ensure that the crypto-currency market as resumed again and this is what will make many people to make profit because they have accumulated huge amount of Bitcoin during the deep which is a very good investment move that must be taken by each and every individual.

 

[uptrendfinancialsignal]

There are so many crypto expert who predicted that the support zone of Bitcoin is 10K and so many experts have made predictions and their predictions never come through because bitcoin didn't reach 10K before it make a rebound and we hope that the bullish movement will continue. The major decline in the price of Bitcoin is as a result of the adjustment of the interest rate by the federal reserve in the United States of America. The interest rate was adjusted to cushion the effect of the inflation that is ravaging the economy of the US and it has affected Bitcoin in a great way as well.

 

[Lens1000]

It is possible for the support zone of bitcoin to be $10K. The reason is that most of the experts have predicted bitcoin to hit the $10K support zone before it make a reversal in the upward direction, but I don't think that this prediction is correct because bitcoin has make a rebound and is moving up gradually. It will continue in this direction if the federal reserve adjustment of the interest rate does not affect it any longer and it continued to move up. The Bitcoiners are beginning to see hope in Bitcoin recently because it is moving up gradually.

 

[uptrendfinancialsignal]

It is possible for the support zone of bitcoin to be $10K. The reason is that most of the experts have predicted bitcoin to hit the $10K support zone before it make a reversal in the upward direction, but I don't think that this prediction is correct because bitcoin has make a rebound and is moving up gradually. It will continue in this direction if the federal reserve adjustment of the interest rate does not affect it any longer and it continued to move up. The Bitcoiners are beginning to see hope in Bitcoin recently because it is moving up gradually.

The expert also make predictions but we should not follow the predictions of the expert sheepishly without even going through the procedure that is involved in cryptocurrency movement and that is where the profit will come from. By studying the movement of cryptocurrency, you should be able to discern the resistance zone and support zone and this will give us an ampute opportunity to make correct predictions provided we are able to determine the relevant resistance and support zone. Cryptocurrency expert are only trying their best to make predictions, it is left to also make our own findings before we can make any investment judgement.

 

[Lens1000]

The expert also make predictions but we should not follow the predictions of the expert sheepishly without even going through the procedure that is involved in cryptocurrency movement and that is where the profit will come from. By studying the movement of cryptocurrency, you should be able to discern the resistance zone and support zone and this will give us an ampute opportunity to make correct predictions provided we are able to determine the relevant resistance and support zone. Cryptocurrency expert are only trying their best to make predictions, it is left to also make our own findings before we can make any investment judgement.

I am of the opinion that whenever an expert make predictions in the cryptocurrency space, what matters is that we should follow the predictions and ensure we add our own predictions to the combination of the predictions made by expert and the one that you have predicted would give a very good and astonishing result at the end of the day which is the major reason why it is very important for every cryptocurrency investors to understand the intricacies behind the movement of cryptocurrency either in the British manner or in the bearish manner because it is what will enhance prediction.

 

[Flow-er]

Bitcoin is a very promising cryptocurrency and I would suggest that bitcoin should be taken very seriously. The reason is that bitcoin give you opportunities to make reasonable money from the internet because it is a beneficial to cryptocurrency that has a lot of potential. Bitcoin will definitely surge and we are very optimistic and bullish on bitcoin despite the decline in cryptocurrency recently. The experts have made the predictions that it will hit $10K Mark of which I do not believe because bitcoin has made $20K its resistance zone and I think it will continue to make progress from that point.

 

[uptrendfinancialsignal]

Bitcoin is a very promising cryptocurrency and I would suggest that bitcoin should be taken very seriously. The reason is that bitcoin give you opportunities to make reasonable money from the internet because it is a beneficial to cryptocurrency that has a lot of potential. Bitcoin will definitely surge and we are very optimistic and bullish on bitcoin despite the decline in cryptocurrency recently. The experts have made the predictions that it will hit $10K Mark of which I do not believe because bitcoin has made $20K its resistance zone and I think it will continue to make progress from that point.

It is very correct that bitcoin is a very promising cryptocurrency that has gained traction over time and so many people believe in this crypto and they know that is going to surge in the future and that is why so many people would love to invest their hard-earned money in Bitcoin. This is specifically evidence in the market capitalisation of Bitcoin which is an indication of the number of people that are using this coin in the crypto-currency market unlike other cryptocurrencies bitcoin has gained huge tractions and it is being used as a legal tender in some countries because they believed in this coin greatly.

 

[ImamShaheb]

Reversed with perfection !

 

[ImamShaheb]

It is possible for the support zone of bitcoin to be $10K. The reason is that most of the experts have predicted bitcoin to hit the $10K support zone before it make a reversal in the upward direction, but I don't think that this prediction is correct because bitcoin has make a rebound and is moving up gradually. It will continue in this direction if the federal reserve adjustment of the interest rate does not affect it any longer and it continued to move up. The Bitcoiners are beginning to see hope in Bitcoin recently because it is moving up gradually.

The new resistance of BTC is 35,700... Almost 3.5x from that 10k support 🫡

 

[cozycity778]

yes I believe it

 

[Arriety]

thinking it will but it'll be after the halving probably few month after