Bitcoin scenario crashing to $20.000 - $23.000 - page 5.

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Quote from: ethereumhunter on June 13, 2022, 08:19:55 AM

I wonder how low this price will be as we have already reached $23k and the price is still not showing to go up. If this situation continues, I am afraid we will see another low price which can make people panic and lose confidence in holding their bitcoin, as many of them already bought bitcoin at $30k. But if more support comes to bitcoin, the price will not go down and can hold the price and even lift the price back to the high price. Meanwhile, we can wait a while and see what and where the price will bounce up.

I was also quite surprised after waking up and checking the market, the bitcoin price plummeted today. With the current situation there is no news that can pull bitcoin back, June 15 with the goal of reducing inflation will certainly continue to increase interest rates and volatile assets like bitcoin will continue to confront selling panic in the market. Selling pressure is huge, I hope people will have diamond hands now instead of panic selling, 1 BTC = 1 BTC if we haven't sold yet.

ethereumhunter

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I wonder how low this price will be as we have already reached $23k and the price is still not showing to go up. If this situation continues, I am afraid we will see another low price which can make people panic and lose confidence in holding their bitcoin, as many of them already bought bitcoin at $30k. But if more support comes to bitcoin, the price will not go down and can hold the price and even lift the price back to the high price. Meanwhile, we can wait a while and see what and where the price will bounce up.

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Quote from: fzkto on June 13, 2022, 05:27:10 AM

Honestly, I don't understand what news caused bitcoin to collapse so much today. I woke up today like everyone else and was very disappointed with what happened. But judging by such a big momentum we could really see 20k soon, when Asia and America come into play, maybe even panic selling will happen.

According to https://www.cnbc.com/2022/06/13/bitcoin-btc-falls-as-market-focuses-on-celsius-issue-fed-rate-hike.html

These are the key points.

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Bitcoin tumbled below $24,000 late on Monday, hitting its lowest level since December 2020, as investors dump crypto amid a broader sell-off in risk assets.

Meanwhile, a crypto lending company called Celsius has paused withdrawals for its customers, sparking fears of contagion into the broader market.

Macro factors are contributing to the bearishness in the crypto markets, with rampant inflation continuing and the Federal Reserve expected to hike interest rates this week to control rising prices.

These are just some of the reasons but in totality, the market is already in the bearish mode so we can expect that it will dump big time, and I will not surprised if it will dump below $20k.

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Quote from: fzkto on June 13, 2022, 05:27:10 AM

Honestly, I don't understand what news caused bitcoin to collapse so much today. I woke up today like everyone else and was very disappointed with what happened. But judging by such a big momentum we could really see 20k soon, when Asia and America come into play, maybe even panic selling will happen.

This indicate that the crypto market is so unpredictable and even if there's no news we can still see the market fall, also provably this collapsed is due to another series of people get panic on situations like this and this is what whales like because from this they can start to accumulate more cheap bitcoins. Maybe those worse figures might came because we don't have good positive news that can lift bitcoin at this moment.

fzkto

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Honestly, I don't understand what news caused bitcoin to collapse so much today. I woke up today like everyone else and was very disappointed with what happened. But judging by such a big momentum we could really see 20k soon, when Asia and America come into play, maybe even panic selling will happen.

Ultegra134

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Well, that was fast, all this occurred while I was asleep. Honestly, I truly believed that the prediction would turn out true, however, I never expected that it'd go that way so quick. Bitcoin is currently sitting at $24.000 as we speak and Ethereum at $1.200, both just hanging above the 24 hour lowest point. By the looks of it, both are going to crash even further. On the one hand, I don't mind since I'm receiving a higher amount in Bitcoin, but on the other, it's kind of sad to see the market in such a state.

Screenshot from CMC's live chat. I'd opt for option A.

Sir Legend

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Didn't expect, when i woke up and checked the assets it turned out that i lost more than 10%, sorry for not selling when the bitcoin price was $30k, today bitcoin dropped below $25k and became a record low in over a year, hope it doesn't drop below $20k .

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Bitcoin has always posed to be bearish ever since it failed to get over $70k and now seeing $20k really sends shivers to anybody hodling onto some big bags, but what's really shaking price to be in the downward trend for this long...are whales selling off, could regulation be the culprit here...

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Quote from: bitterguy28 on June 13, 2022, 03:57:42 AM

there is 1000 dollars away before 23k reached and this is the movement now

https://coinmarketcap.com/currencies/bitcoin/

the sign of drowning is here , as the price is now drops to 24,600 USD , I think we are in the next phase of bear market , as the world is now experiencing this economic problem and even crypto market will not safe into this.

Yes, we are about to reach $23k, and it really doesn't look good, but we can't do anything for now but let this flow happened. And I think we have established lowest lows already, and as all cryptos are down -10% or more. I think the major reason for this meltdown is the Feds on rate hikes and the economy in general.

https://www.cnbc.com/2022/06/10/fed-will-raise-raise-rates-next-week-but-powell-may-matter-most.html

I can't blame those who are in a panic right now and choosing to get out and maybe be back later strategy. So let's see how dip this flash crash is.

bitterguy28

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there is 1000 dollars away before 23k reached and this is the movement now

https://coinmarketcap.com/currencies/bitcoin/

the sign of drowning is here , as the price is now drops to 24,600 USD , I think we are in the next phase of bear market , as the world is now experiencing this economic problem and even crypto market will not safe into this.

Joshapat

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Today I was surprised when I opened a trust wallet and saw the market drop of more than 10%, even when I noticed the price of bitcoin was almost dropped below $ 25k even though it was currently rising again to around $ 25,500, the Bitcoin scenario to drop down $ 25k was certainly very large so that I put up a buying price of $ 23K in spot exchanges.

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Quote from: yhiaali3 on June 12, 2022, 09:35:17 PM

Personally, I thought Bitcoin was able to overcome the deflation in the global economy as a result of inflation, but unfortunately this did not happen. It seems that Bitcoin was severely affected by the deflation, but I hope that this effect is only temporary, for a long time Bitcoin managed to stay outside the twenty thousand area and maintained a good resistance, but Now it entered this area, and this is a negative indicator that indicates the possibility of continuing the decline, and we may witness 24/26K soon, especially with the negative weekly closing.

Don't you mean inflation?
In any case the problem with bitcoin is currently market manipulation. The market (that is the order books on exchanges) has always been small enough for manipulation to be effective specially if it is in the same direction as the market sentiment is (currently undecided sentiment).

So when the FUD convinces people that bitcoin has magically and after 13 years has decided to for the first time to follow US stock market and then that market dumps, a lot of newbies who believed the FUD would dump their bitcoin for no reason but being manipulated into panic selling.

Otherwise it hasn't occurred to anyone why dump size is so close whereas it should have been huge if history is any indication? That means stock market dumps 7% and bitcoin dumps about 8% whereas historically it should have dumped 20%.
They are just squeezing newbie weak hands out.

adaseb

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Well that was pretty quick. Bitcoin already broke the yearly low. At first with the stock market dumping and Bitcoin holding steady and later with the ETH dumping due to the stETH mess, it seemed like BTC would hold however…

When Celcius stopped withdraws and sent like over $100M worth of BTC to exchanges… people knew it was game over. Feel bad for those holders who wanted to make extra % by staking their BTC only to lose it all.

Remember Not your keys not your coins.

kotajikikox

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Quote from: boyptc on June 12, 2022, 08:25:30 AM

Quote from: kotajikikox on June 12, 2022, 03:25:50 AM

or is there any chance that it will not fall below 25k?

Just think of all the possibilities right now.

This is the positive that we are looking mate? we are now at 25k as i speak , so basically in any moment Bitcoin price will drop below 25k and yeah even How high i wanted this ? yet the market will still drop .

https://coinmarketcap.com/currencies/bitcoin/

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It's possible to fall to $25k, to $20k and even to $17k or $15k. You name it, it is bitcoin and it's nature of being volatile can drop into those prices that we're not expecting it to be low.

Yeah I guess it will , there is a close to that weight , and I hate this to be having potential any increase now.

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We've seen how $20k of 2017 became $3k on 2019.

We don't know how low it's going to be this time after hitting $69k as its last ATH. But whatever it will be, fill your bags and don't forget to buy when it's cheap.

Indeed , I'm filling my bags now as I have steady budget for dumping market like this.

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Quote from: Mr.Scott on June 12, 2022, 09:20:38 AM

Quote from: kotajikikox on June 12, 2022, 03:25:50 AM

Looking at the market now? it seems that we are on the direction in which you mentioned?

https://coinmarketcap.com/currencies/bitcoin/

the price of bitcoin now close to 26k and still lowering , is this the sign of the new lowest value for this year 2022?

or is there any chance that it will not fall below 25k?

We've lost 28K. Current market condition quite uncertainty, and anything could happen. Bitcoin market moving around 27-30k, and perfect opportunity for arbitrage trader. Bitcoin falls roar $28,000 and down practically 6% to $27,270 as of now. I see lot of technical analytics are taking about if we lose 25K we're heading to under 20k. Here, I'm holding up fro affirmation.

Yeah we lost it for some hours but take a look at the price again, we are now back at 28k. This is the chance that @kotajikikox is looking for. I am sure that we won't hit 25k but the price will just play on 27,28 and 29k. Not just the arbitrage trader but a normal trader can also earn on the fluctuations that we are seeing now.

Technical analysis may seem not enough but I would believe it more if they also teamed it up with fundamental analysis. It is still up to btc if what directions it will venture but whatever it may be, we don't have a choice but to go with flow. If price falls more then buy or continue hodling but if it pumps then sell and take out some profits.

yhiaali3

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Personally, I thought Bitcoin was able to overcome the deflation in the global economy as a result of inflation, but unfortunately this did not happen. It seems that Bitcoin was severely affected by the deflation, but I hope that this effect is only temporary, for a long time Bitcoin managed to stay outside the twenty thousand area and maintained a good resistance, but Now it entered this area, and this is a negative indicator that indicates the possibility of continuing the decline, and we may witness 24/26K soon, especially with the negative weekly closing.

Fundamentals Of

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I'm also not really bothered by a price decrease, not at all because this is going to mean a bigger pay for me in terms of Bitcoin. But it is fun and sad at the same time. It also affects me somehow that a bear market prediction comes true. I am generally bullish on Bitcoin.

This particular prediction is fast becoming a reality. The price is indeed approaching towards $23,000. Things happened quite fast. Just 3 days ago, the price was still holding on to $30,000. Now the price is barely holding on to $25,000.

Baofeng

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Quote from: cryptomaniac_xxx on June 12, 2022, 05:20:27 PM

Quote from: Ultegra134 on June 12, 2022, 01:54:17 PM

Quote from: eaLiTy on June 12, 2022, 01:25:47 PM

Quote from: stadus on June 12, 2022, 08:55:33 AM

$20k here we go, I'm not surprised if Bitcoin will reach at that level again, I mean a bear market is also unpredictable like bitcoin when it's bullish, so we have to accept if it will reach $20k or even fall because it will always recover like it did many times.

Some people may panic, but some will take this as an opportunity.

Everyone who look for an opportunity to invest in BTCitcoin would always want to see the price to fall to those levels and there is nothing to be surprised as we have seen that multiple times in the past and still some are surprised that the correction means that the market will not rally again Grin

.

Quote from: stadus on June 12, 2022, 08:55:33 AM

Welcome to the bear market, the tough times for those who don't trust bitcoin.

New investors who are yet to book their profit might stay away from the market for a long time and that is the best solution right now and then enter once the market recovers again after the next halving. Patience is everything in a market.

Some say that it's a great opportunity to accumulate more Bitcoin, however, due to the economic recession we're going through now, small investors are incapable of resorting to large investment. I'm also a strong supporter of Bitcoin and actually believe that eventually, it'll recover, but I barely make ends meet with my salary, thus, I'd rather not take such a risk.

Bitcoin is currently trending at almost $28.000, showing small signs of recovery since the afternoon and Ethereum at $1.500.

As of the current price, is way below $28k, trading at at price of $27,350 and still going down. But this is the start of the week for Asian market, so maybe we will see some recovery here in there. For all investors, may it is DCA method that can really help them accumulate overtime. And as long as you look at your goal long term, no doubt that you can accomplished it very slowly. We just have to understand the game and how are we going to stretch our financial capability so that we can still invest right now.

Selling pressures again, and yes, we are getting closer to $25k, but I guess we can't stop it from happening. Not sure if the opening of the Asian market can salvage what is going on right now. I'm thinking that this is another red candle for us, perhaps at the end of the week, around $25k-$26k.

Of course, another perfect time to buy, but it's going to be a long hold for us. And in the next half of the year, there could be another golden opportunity when we reach like a capitulation price of $20ki'ish.

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Quote from: Ultegra134 on June 12, 2022, 01:54:17 PM

Quote from: eaLiTy on June 12, 2022, 01:25:47 PM

Quote from: stadus on June 12, 2022, 08:55:33 AM

$20k here we go, I'm not surprised if Bitcoin will reach at that level again, I mean a bear market is also unpredictable like bitcoin when it's bullish, so we have to accept if it will reach $20k or even fall because it will always recover like it did many times.

Some people may panic, but some will take this as an opportunity.

Everyone who look for an opportunity to invest in BTCitcoin would always want to see the price to fall to those levels and there is nothing to be surprised as we have seen that multiple times in the past and still some are surprised that the correction means that the market will not rally again Grin

.

Quote from: stadus on June 12, 2022, 08:55:33 AM

Welcome to the bear market, the tough times for those who don't trust bitcoin.

New investors who are yet to book their profit might stay away from the market for a long time and that is the best solution right now and then enter once the market recovers again after the next halving. Patience is everything in a market.

Some say that it's a great opportunity to accumulate more Bitcoin, however, due to the economic recession we're going through now, small investors are incapable of resorting to large investment. I'm also a strong supporter of Bitcoin and actually believe that eventually, it'll recover, but I barely make ends meet with my salary, thus, I'd rather not take such a risk.

Bitcoin is currently trending at almost $28.000, showing small signs of recovery since the afternoon and Ethereum at $1.500.

As of the current price, is way below $28k, trading at at price of $27,350 and still going down. But this is the start of the week for Asian market, so maybe we will see some recovery here in there. For all investors, may it is DCA method that can really help them accumulate overtime. And as long as you look at your goal long term, no doubt that you can accomplished it very slowly. We just have to understand the game and how are we going to stretch our financial capability so that we can still invest right now.

Ultegra134

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Quote from: eaLiTy on June 12, 2022, 01:25:47 PM

Quote from: stadus on June 12, 2022, 08:55:33 AM

$20k here we go, I'm not surprised if Bitcoin will reach at that level again, I mean a bear market is also unpredictable like bitcoin when it's bullish, so we have to accept if it will reach $20k or even fall because it will always recover like it did many times.

Some people may panic, but some will take this as an opportunity.

Everyone who look for an opportunity to invest in BTCitcoin would always want to see the price to fall to those levels and there is nothing to be surprised as we have seen that multiple times in the past and still some are surprised that the correction means that the market will not rally again Grin

.

Quote from: stadus on June 12, 2022, 08:55:33 AM

Welcome to the bear market, the tough times for those who don't trust bitcoin.

New investors who are yet to book their profit might stay away from the market for a long time and that is the best solution right now and then enter once the market recovers again after the next halving. Patience is everything in a market.

Some say that it's a great opportunity to accumulate more Bitcoin, however, due to the economic recession we're going through now, small investors are incapable of resorting to large investment. I'm also a strong supporter of Bitcoin and actually believe that eventually, it'll recover, but I barely make ends meet with my salary, thus, I'd rather not take such a risk.

Bitcoin is currently trending at almost $28.000, showing small signs of recovery since the afternoon and Ethereum at $1.500.

Topic: Bitcoin scenario crashing to $20.000 - $23.000 - page 5. (Read 1171 times)