Topic: Are we entering bear market? How low will btc go in the coming year? - page 3. (Read 592 times)

No one truly know into what extent will Bitcoin as well as the other cryptocurrencies will get low for the past few days or for the next moment of time since we are all aware that the market we are working up into is a highly volatile market wherein prediction can be made but no assurance things will happen as we expect or predict. Instead of thinking too much of the future, better make use of the present to get yourself ready for whatever happens. Turn things as much as possible into opportunities that will be favorable on your part.

Selling is not the reason why bitcoin falls, not buying is the real reason. Sure there is a bit more people who sell during this period and that causes a difference that causes the price to go down but there is also a difference between how much was bought during this week versus how much was bought previous months, it is a proof that people are selling sure but people are not buying neither and that is the main reason.

This is why I believe there needs to be a reason for people to buy again, when people are interested in buying again that will also result with people not selling as well, logical right? I mean if everyone wants to buy more, that should automatically mean people are willing to sell less as well. That is what people should be looking for. I understand that it is not easy to create a reason and a hype like that, but without that hype we are going to just either stay here or go down.

I did a quick glance into the drop that happened in 2017 and what might happen this year 2021.
In 2017, there is a 70% drop from near 20k to around 6k. If you will plot it to the recent ATH and if it will duplicate it, we are seeing a price drop to up to the near $20,000 level. Aside from the $30,000 price support right now, $20,000 is what I'm seeing as a next strong support. $12,000? I don't want to say that it is impossible but it is less likely to happen.

There are 2 signs that we are in a bear market.
1. If we broke the strong support which is right now the $30,000.
2. If it manages to reach the 34 and the 21 weekly EMA and it failed to push through then that is also a sign.

This video from a great analyst might help others know to spot if we are in a bear market or not: https://www.youtube.com/watch?v=BxFBFyJL7f0.

We dont have crystal ball to know the future so no one can accurately answer your questions since the market is unpredictable. IMO we wont go dip further to $30k, the price is continuously declining but somehow there's a minor recovery. We are only in the second quarter so there's a chance for a bounce back and again a bullrun. If the price of btc plunged to below $20k then its the time I can say that we are already in bearish market.

I do not think that the bear market on cryptocurrencies has already come, and I do not think that it will last for 4-6 years. Let's hope that the situation will settle down and in the coming months we will see a sideways movement of the market, in the fall and towards the end of the year we will see a progressive upward movement of the market. The most important thing is that large holders of bitcoin do not arrange big sales and it seems that such sentiments are not yet observed, except for the statements of pessimistic experts who always appear in such cases. I don't think it's in the best interests of the governments of the leading countries that have turned their printing presses on full power to have these funds flood into the physical commodity market, triggering hyperinflation, and bitcoin and other cryptocurrencies would quite well help to sterilize the excess money supply.

3-4 years is more likely, a bit less than your estimate. I guess if price keeps going down for another couple of weeks I'll just transfer my holdings from trading accounts back to cold storage and see what happens next.

We could very well be entering the bear market this month. And in my opinion this has been long overdue considering how long bitcoin held up in its price despite the constant backlash and bad blood in its name. Still, in regards to your answer on how long this will last, or how low bitcoin could go next year, we don't have a definite answer. Most of the time bitcoin stays at the bottom for a 4-6 years and then rises up hundreds of times bigger in value than the last ATH, so you can expect next ATH to be much more massive than the one we had this year.

Aha good point!

The price that you are looking for is simply too low, even if we assume that the bull market is over and a new bear market has appeared we are never going to see that price because that will break everything that bitcoin has done during the last decade, bitcoin never goes below its previous all time high, which means that a price below 20k is practically impossible but if it indeed happens then we could be witnessing the worst bear market in history, something no one wants to see.

Hello

What I have seen is during this time of the year the price usually decrease which reaches its lowest around September. Then the price continues to spike up till February-January of the next year. BUT if we look into the past we will see that it took btc a few years to reach the all time high which was drastically high. Due to more acceptance in market I do no think that it would go this low.

What I do think is the maximum it would go might be 25-30k, that's it. Less than that is impossible since most of the people are not going to sell before 60k, so they will hold for a long time or maybe few days, who knows ? We are in a pandemic, we cannot predict anything.

Bitcoin is not for weak hands! 
If you are planning to hodl bitcoin for long term there is nothing to worry about. Since the price did increase for a few months and people got amazing profits, there should be also a bear phase. During this phase the holder will just hold and they should only control their emotion to don't do the panic sell. Some other people will definitely use this situation and they will see the bear market as bitcoin discount. Imagine, the market is giving you some discount to buy bitcoins for a cheaper price during a limited time, smart people will use this chance, others will not.

I agree. I think bitcoin will recover soon, it's just because of overbought that occur in the previous months. The hype that Elon Musk given to pump the market to break the all-time highs then today the Tesla not able to accept BTC anymore due to environmental concern. I think $30k is still good, we're not yet going to bear market and I think it will pump one last time and get back to $50k soon. A lot of institutions enjoy the dip, I'm sure they already brought the dip. MicroStrategy already announce that they already add some BTC assets and Justin Sun also purchase $150 Million worth of BTC. Selling will stop soon so we should prepare and enjoy the dip.

the market continues to show signs of a decline, for now expect more stability first and it may take several weeks for recovery. Don't imagine too badly, it will only make you panic even more

$12k is indeed very low for bitcoin. I believe it will not fall below $20k. It seems that the market is in bearish season right now, but let us wait for at least couple of weeks and let us see how the market will perform. It is hard to predict in this market as the price can change in just few hours. I do agree that there are so many big institutions that are already involved this time, so the support is stronger than in previous years. Payment method is also growing so the adoption is growing and increasing as well.

The price of bitcoin might won't go down to $12k again. It will have its drop off but i think it will not go down below $20k. Bigger institutions have been supporting bitcoin these past few months so definitely, it has a stronger back up and fundam entals compared to the previous bearish trends.

But this is not really a sure thing to happen as we know since day 1 how volatile bitcoin is. All we have are still pure speculations but it's not really an issue. We know that when bitcoin reaches its dip, the next thing to happen might be reaching another ATH again.

I don't think that we are currently entering the bear market because from what I am seeing, the price of bitcoin is still in a healthy value or price so that in my own opinion the market is still not in a bear market. Another thing is that the price of the altcoins including the Ethereum is still at an upper price. Just imagine that the price of the bitcoin is $30,000 and still not dropping in the $20,000 which is the normal price or the last ATH of the bitcoin.

you are looking for the best time to buy bitcoin, something that anyone would do. but the question is:

what is the best time to buy bitcoin?

currently the price is falling, people are panicking thanks to some attitudes of elon musk and china. but the question is:

what can we expect later? Could it be that with these attacks by elon musk, other rich people will not invest in bitcoin?

I am not a market analyst but I think in the following way:

Elon musk may have been the person who contributed to the price increase a lot to the point of reaching $60,000, but he was not the only one, paypal was the main catalyst in the price increase when the price was low and being that paypal Is a company that has many customers and is supporting cryptocurrencies so the bitcoin price will not fall below $20,000 or may even momentarily touch $30,000 or just under $30,000, but definitely the bitcoin price will not fall much and will recover fast. because it has a lot of demand and people know that more new people will buy bitcoin due to the great exposure that bitcoin currently has


you did very well to sell your altcoins, altcoins had a big price drop.


it is impossible to see the price of $12000 again


to see another ath this year I find it very difficult, but if we had a very big news something for example if amazon supported bitcoin then we would see another ath this year.

I think the price of bitcoin will range from $30k to $35k, that's how low bitcoin will range based on my prediction.

It is not sure if we are in a bear market right now but the possibility is extremely huge so be careful with your actions.

Stay patient and discipline enough so that you will not make a bad move during this bearish market.

If we were to sell all of our coins then the prices are going to definitely go down. That's what I currently do but the problem is that I can't take action on it because I currently have all my money in crypto so I am waiting for a profit, I can't buy when the prices get too low.

You are really optimistic about the level which the price can fall to.    Everyone would like to accumulate from as low level as possible. But it doesn't seem to me like it will go down that much.