Topic: Bitcoin 12,000 in 2023. - page 5. (Read 831 times)

Maybe but I do not think it will be there for long if it does crash to that amount. The market is recovering recently even if we have some resistance at the $25k area. As the world recovers from the recession we should see increased investment into crypto which should drive the price up again. I do not know when we will recover from this recession though as that can sometimes take years to recover from.

The possibility shouldn’t be guessed, rather it should be calculated and well estimated. But currently if we see the price, then it’s very hard for Bitcoins to fall below the price point of 20k usd, at least for now. I don’t know about the later part of 2022, but currently Bitcoins are very strong indicating that it will go up. Moreover the price also depends on the demand of the coin. If you see currently then the demand is really good, so this is a great sign that the price will increase in near future. Let’s hope for the best.

My prediction for this year with regards to Bitcoin's price is that, it will go sideways at around $17,000-$25,000 or even $26,000.
In short, I expect that Bitcoin at one point will crash down below $20,000 again and the cause of it? Maybe an increase in interest rates again or anything negative since we are not done yet. I'm expecting the worst still this year, but not the same as last year.

We might experiencing the economic crisis as of this moment, but if you are thinking long term, take this crisis as an opportunity to accumulate different kinds of assets at a cheaper price.

What we are experiencing now might change when the Fed will start to decrease those interest rates. As for Bitcoin, if the Stock market is still going down then so is Bitcoin and the crypto market. Now to answer what you said regarding Bitcoin going down 12,000 this year, maybe it can happen, but the chances of it are low to almost impossible. I mean we already have a bottom price and that is the $17,000. Before Bitcoin reach the $12,000, it must break the $17,000 support first and then the $15,000 psychological support before it happens.

In short, I don't think that Bitcoin will reach that price this year or, we might not see Bitcoin going to that price again.

Your fears should not allow you miss the opportunity of taking your place by holding more bitcoin. Currently, the bitcoin market is at low so buying more now will amount to you holding bigger volume compared to when the price is high. With the market volatility, no one can predict the next bitcoin market move as there have been lots of market analysis and speculations which turns out to be false and not in accordance with the bitcoin trend but however, firm the look of things, I think that bitcoin would do more than it is now at $12000 because as at early January there was some sign of bullrun which is still clear that it is at it's early stage but never forget that bitcoin market is volatile.

Although I understand your anxiety about a possible crash, I think that it is simply FUD (fear, uncertainty, and doubt) talking. Investing always carries some risk, particularly when dealing with something as unpredictable as cryptocurrencies, but that's how the game is played.

However, I do think that when compared to other cryptocurrencies, Bitcoin is in a class of its own, and its rarity is what makes it so valuable. Those who really believe in the potential of Bitcoin will simply keep collecting. People may panic and sell in the short term when they fear the price could plummet. After all, a drop in price might be seen as a chance to purchase more items at a cheaper cost. The appeal of HODLing is that.

For an economy that is still in a slump, it will still have an impact on the market and on assets like Bitcoin, but I don't think the price drop will be below $20K again. Because I see from several corrections that occurred in Bitcoin only experienced a slight decrease in a short time which then increased again. And also I don't think that unemployment which is still increasing has an influence on this, because some people who are still unemployed are because they are still lazy to work and some don't know where to work.

So there is not such a big influence from the unemployment sector because those who are still unemployed will definitely look for free things that can be used like in the crypto space even with very small amounts and this will actually trigger more crypto users. As for the perspective on interest rates that are still high, I can't give a clear enough picture because I personally have never felt the difficulties caused by this.

first of all there is a significant reason why the market price did not go over 75k in 2021
and did not go under 15k in 2022

there is real world value premium measures
where people think too cheap, where its not making profit even for the last profitable miners standing on the planet are still mining..
where even the last seller says too low

same for the top where everyone on planet can acquire cheaper via mining thus see the market is getting too pricey where even the last buyer gives up buying at a certain level

the market speculates inbetween the value:premium window

the non zero bottom is 15k and the market went to near on $15.5k
this year its more like 15.2k in january for a non zero value bottom. so dont hope for a 12k bottom unless hashrate drops consistently for 6-24 months below current hashrate
and mining hardware gets more efficient to drop the value rate down to even give the market the option of selling while still profiting..  for the most efficient/last man standing to stil be willing to sell down to the titles $12k

.. as for dipping below $20k. well that is a rational possibility/option.. but $12k is not. not unless alot happens with the fundamentals behind the scenes

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as for fiat economy impact
lets say the average investment was not everyone saving up to buy a whole bitcoin where they if they have less cash means bitcoin has to come down..
becasue wait for it. peope dont need to buy whole coins

the real average investment if you look at the coin reserves of exchanges and the customer account counts is about ~$600 each

now lets imagine fiat economy drops where people can only afford $400 investment
its not that bitcoin price drops by 33%
instead sellers offer less decimals of coin for that less cash amount
as they have real life costs to meet for their mining efforts/acquisition costs effort

you will find due to mining costs going up and fiat going down

if market price was 18k average in nov-december
a investor with $600 would get 0.03333333

which if investing in 2023 if price was still $18k
a investor with $400 would get 0.02222222

and if mining costs went up meaning sellers want the price to be 20k
a investor with $400 would get 0.02000000

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in fiat company share markets where people are forced to buy whole shares
if the market average changed from say $600 where people average buy 3 shares at $200
if peoples average were to be $400 they either only get 2 shares or the market has to force the price down to $133 if buys get cancelled if not meeting a 3 share committal of $400 total. where seller are forced to sell 3 shares for $400
..
thats the beauty of bitcoin. the decimal buys means the sellers are not locked/strong armed into certain buy pressures of whole numbers

That's still the closest area so there's still a chance that bitcoin will fall in a correction before it goes beyond the price mentioned I even believe it could even exceed the $25k mark in the future.
I can't conclude about the economy or inflation because it's all just FUD but if you always associate this with it then surely at least you will be affected by it, so do you want to collect bitcoins in the current economic situation?
Now I'm only focused on collecting bitcoins, even if the price is low again I'm happier because I can buy more from the DCA way.

it's normal for bitcoin to fall below 20k because as we know btc has an unstable value, when btc reaches the lowest value everyone will race to fill their bags, and wait until that time will come,

That's entirely possible as we are not far away from 20k after all. I wouldn't count on it though if you are waiting for that to happen in order to buy more as for me even current price is a pretty good entry point.


Those who wait for bitcoin to drop more for another "buying opportunity" usually don't buy it even if it drops to the price they initially waited and then just wait for another drop etc. Point is, there's no need to wait for bottom as its impossible to time it and instead it makes way more sense to just DCA instead.

This is not really bitcoin discussion, but more trading discussion. If you want to read more about such topics I would advice you to go there.
What is the general thing that will come up, is that there are many factors that can not be predicted, that will influence the price a lot. This will be especially connected to the war in Ukraine and possible sanctions on bitcoin.
In my opinion however it was never wise to be bearish on bitcoin 

nnow I ask you which country do you live in, you are very lucky to live in a country where unemployment is only 5% and not experiencing a recession. as we know many countries are experiencing a recession, I mean in my country there are many companies that lay off their employees for the sake of the company's survival.
I am aware that my country does have a bad economy in my view,

It's not unlikely, but I think that the chances for this have decreased greatly with the price upwards movement during most of January.
As I also said, after such a move for so many days, a correction was bound to happen. But this should not necessarily mean it'll drop back to 12k like levels.
But overall it's hard to tell. Some say we're out of crypto winter, some say we're not and it was a fake breakout. The truth is that we're in sort of "gray area" (in between). So I can easily expect some agree with you and some oppose the idea.

However, why is this in Bitcoin Discussion and not in Speculation where it belongs?!

I think 11-12k is still the potential bottom point. I hope so for the sake of another buying opportunity. I am worried for my hope that this gives my bias toward that bottom point! It is looking nice after this past few weeks though.

As we all know, bitcoin is volatile so the possibility of it crashing is not a new thing and it might likely crash below that but in as much as it is crashing, I just feel this is the right time to bag more. It would be on the favourable side that one takes advantage of the current market situation by taking a good position if it because it would take the test of time and bounce back with full momentum to the peak. This time around, it would definitely go beyond it's ALL TIME HIGH. In as much as no one knows the next step of bitcoin, the speculations are coming and some are kind of accurate but that does not mean that they are all in it as the market is generally volatile. In all, if you can, bag more of bitcoin for a long time and wait for the next bullrun.

Bitcoin price is increasing day by day and it looks like it will go up slowly now so I don't think it is a reliable prediction that Bitcoin may crash again to $12000. Bitcoin is currently priced at $23k so it doesn't look like it will drop below $20k again. A few days ago when Bitcoin dropped to $15400 that was the lowest price Bitcoin could hit.  I personally don't think Bitcoin will ever go below that. And those who invested in Bitcoin at that time are now entitled to a large profit and holding it long-term will yield many more profits from here.  So I think those who are waiting for Bitcoin to hit 12k are making a big mistake

Anything can happen, not the first time that we have heard this kind of crash, not only this but for sure in 2018 we all have heard that Ethereum will take over the lead with the so called Flippening.

So in any case, I would say just be careful what you wish you, maybe it will happen but the question is can you take that advantage and buy more when the price hits $12k this year?

Everything is only temporary in the end the price of bitcoin will still go up, and it's only a matter of time you don't need to worry. A wise attitude that must be applied and always take advantage of declines to accumulate or do DCA and hold it for the long term, and keep in mind that the market price of bitcoin or crypto is still very volatile and cannot be predicted with certainty. Because whatever happened was due to several factors that we also don't know.
and although an increase in interest rates may have a certain effect on the crypto market, there is no guarantee that this will definitely happen. But an increase in interest rates can also affect the inflation rate, which can affect the value of crypto or bitcoin assets.

It's possible, it's just been there so possibilities are endless that it could go under $20k again. Honestly, with all these crises that are happening, we've dealt with it pre-pandemic. We all thought that it would crash the market but it reversed our expectations.

The price of bitcoin has increased even more and gave way to the last ATH on 2021. I guess the same thing might happen again, halving next year, with crises that we have to face including the vast layoffs.

Maybe it will be the opening to make the price of bitcoin higher again by end of 2024-2025.

Which economy are you talking about? In my country, the unemployment rates are really low(below 5%) and there isn't any clear sign of recession or growing unemployment. Just because the economy in your country is bad that doesn't mean that the global economy is bad.
Yes, the possibility of Bitcoin going below 20K is still there. After all Bitcoin is a highly volatile asset and there will always be price drops.
Should we really be worried about a Bitcoin price drop? I don't think so. Just sell and wait for a lower price or just DCA and keep accumulating.
I think that the massive BTC bull market will occur after 2024.