Bitcoin scenario crashing to $20.000 - $23.000 - page 6.

eaLiTy

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Quote from: stadus on June 12, 2022, 09:55:33 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, 09:55:33 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.

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Quote from: Reatim on June 12, 2022, 05:36:23 AM

maybe they are against bitcoin at the moment to spike up, because obviously the market is dumping now and indeed we are in the bearish market .
and obvious that we are on the verge of dumping more from what we can see on this part .
20k? i am waiting for this now because my mid year bonus has been released and I am wanting to fund all this for Bitcoin so hope you will see this lowering like what market is showing now.

I have to say even 27k was a shock to me because it looked like we were getting a lot more accumulation, and that means that the more people start to collect up, the less there will be available in the market. Whatever is the liquidity in the market, is the decisive factor in the price movement.

When there are plenty available, that means we are seeing a ton of people willing to sell for a certain amount, but when it is not a lot, when it is a lot less, that means people are willing to hold and right now we are there. Doesn't mean it can't drop, like we have seen now it did, because some people may cash out, big amounts, but I believe it is still not an usual move.

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Quote from: kotajikikox on June 12, 2022, 04:25:50 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.

stadus

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$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.

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

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Quote from: kotajikikox on June 12, 2022, 04:25:50 AM

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

Just think of all the possibilities right now.

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.

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.

Ultegra134

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Quote from: kotajikikox on June 12, 2022, 04:25:50 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?

The current lowest point of the day is standing at $27.266, which isn't far from $25.000, a barrier that I also anticipated weeks ago.
Currently, it seems to have settled at $27.500, without showing major movement. My best bet is that the upcoming weeks will show a further loss of value. I'm hoping that the $25.000 barrier won't be broken, and sustain its price above that.

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Quote from: STT on June 11, 2022, 07:24:26 PM

Schiff makes calls on macro economic factors vs fiscal budgets and so on.

He is also known as one of the gold bugs whose speculations turned out to be completely wrong, because if I'm not mistaken somewhere in 2015 he talked about the price of gold as much as $5000, and although today we are not even close to those values he is already talking about the price of gold as much as $20 000 in the event of a collapse of the US dollar.

When you look at some of his statements about Bitcoin from the past, it is more than obvious that his goal is to devalue Bitcoin in relation to gold - because he is primarily an investor in gold and it does not suit him that Bitcoin ever reaches the standard of digital gold.

Quote from: Ultegra134 on June 12, 2022, 03:23:42 AM

Moreover, many analysts are also against Bitcoin for a variety of reasons, thus, we shouldn't always take such analysis for granted, but in this scenario both analyst's predictions are correct so far, since we're slowly moving towards the $25.000 mark (Currently at ~27.500) and Ethereum currently trending at $1.450.

It is not difficult to give pessimistic speculations when we are in a bear market, and most of these experts spoke quite differently when the price of Bitcoin was close to $70k.

Quote from: https://cryptopotato.com/peter-schiff-admits-bitcoin-price-could-reach-100k-but-remains-a-non-believer/

Peter Schiff is still negative on bitcoin but admitted that its price could skyrocket to $100,000k. What’s more, he regrets not buying some in 2011.
Peter Schiff is known for many things – from calling the 2008 financial crisis to supporting gold on every occasion. But he’s famous within the cryptocurrency community as the ultimate basher, as he takes every opportunity to take a stab at BTC and the altcoins.

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Quote from: Wilhelm on June 10, 2022, 10:40:29 AM

My gut says there will be a flash down to $20k to mop up all the shorts and then a steep rise to leave all the weak hands behind. But then again this is Bitcoin.

I don't expect a steep rise coming soon, because there's nothing that could pump the Bitcoin price fast in the current situation.
Like OP said, the risk appetite has gone away from the markets and it won't be coming back soon (at least not in 2022).
I expect the crypto winter to continue in the 20-30K USD price range and a new bull run coming after the war in Ukraine ends(or before the 2024 Bitcoin halving).
Anyway, this seems like a reasonable analysis, but the liquidity withdrawal from the markets is going to be temporary (1-2 years maximum).
I wouldn't call the price drop to 20-23K "crashing". A price crash is something that happens unexpectedly. This price drop is expected by many traders and analysts. It's just a continuation of the current bear market.

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Quote from: Ultegra134 on June 12, 2022, 03:23:42 AM

Quote from: STT on June 11, 2022, 07:24:26 PM

Quote

some of them are certainly experienced analysts.

Schiff makes calls on macro economic factors vs fiscal budgets and so on. I know him from the 2008 crisis and he called that beforehand but he isnt a tech guy and doesnt especially have a great insight into crypto. Same way I'd describe the constant downvote from Buffet, why would I care about his opinion when he is so happy to back government debt while they undermine the common workers wages with non stop money printing year in and out; he doesnt care about wages he has assets & all players have bias even the 'greats'

Moreover, many analysts are also against Bitcoin for a variety of reasons, thus, we shouldn't always take such analysis for granted, but in this scenario both analyst's predictions are correct so far, since we're slowly moving towards the $25.000 mark (Currently at ~27.500) and Ethereum currently trending at $1.450.

maybe they are against bitcoin at the moment to spike up, because obviously the market is dumping now and indeed we are in the bearish market .
and obvious that we are on the verge of dumping more from what we can see on this part .
20k? i am waiting for this now because my mid year bonus has been released and I am wanting to fund all this for Bitcoin so hope you will see this lowering like what market is showing now.

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Quote from: STT on June 11, 2022, 07:24:26 PM

Quote

some of them are certainly experienced analysts.

Schiff makes calls on macro economic factors vs fiscal budgets and so on. I know him from the 2008 crisis and he called that beforehand but he isnt a tech guy and doesnt especially have a great insight into crypto. Same way I'd describe the constant downvote from Buffet, why would I care about his opinion when he is so happy to back government debt while they undermine the common workers wages with non stop money printing year in and out; he doesnt care about wages he has assets & all players have bias even the 'greats'

Some use Schiff's tweets as a counter-indicator because in 2018, when bitcoin was falling below 4k he said that bitcoin was just starting its fall at that point. His words sound about the same now as they did then. I also think there are too many analysts talking about a strong fall that it is so obvious. There is a chance that it won't happen and those analysts who were talking about the fall will be talking about ATH again, classic.

kotajikikox

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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?

Ultegra134

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Quote from: STT on June 11, 2022, 07:24:26 PM

Quote

some of them are certainly experienced analysts.

Schiff makes calls on macro economic factors vs fiscal budgets and so on. I know him from the 2008 crisis and he called that beforehand but he isnt a tech guy and doesnt especially have a great insight into crypto. Same way I'd describe the constant downvote from Buffet, why would I care about his opinion when he is so happy to back government debt while they undermine the common workers wages with non stop money printing year in and out; he doesnt care about wages he has assets & all players have bias even the 'greats'

Moreover, many analysts are also against Bitcoin for a variety of reasons, thus, we shouldn't always take such analysis for granted, but in this scenario both analyst's predictions are correct so far, since we're slowly moving towards the $25.000 mark (Currently at ~27.500) and Ethereum currently trending at $1.450.

STT

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Quote

some of them are certainly experienced analysts.

Schiff makes calls on macro economic factors vs fiscal budgets and so on. I know him from the 2008 crisis and he called that beforehand but he isnt a tech guy and doesnt especially have a great insight into crypto. Same way I'd describe the constant downvote from Buffet, why would I care about his opinion when he is so happy to back government debt while they undermine the common workers wages with non stop money printing year in and out; he doesnt care about wages he has assets & all players have bias even the 'greats'

Slow death

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well the price is in a dangerous zone, what if it drops to $20,000? it will not stop at $20,000, it will continue to fall much lower, that of thinking: "$20,000 to $23,000 is the bottom" I doubt it will reach $20,000 and not fall below that, on the contrary panic selling it will be higher in the 20,000$ zone because everyone will fear seeing $30,100 so they will start selling a lot if the price drops to $20,000 because the trauma of 2018 is still in people's heads, if the price manages to stay above 32000$ then we will be fine because it will accumulate in this zone of 32000$ and then it will go up a lot, but we cannot fall below 28000$

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Quote from: Ultegra134 on June 11, 2022, 03:51:20 PM

Peter Schiff, an American stockbroker also tweeted about Bitcoin's possible crash at $20.000 and Ethereum's down to $1.000. I'm not sure if we should take such opinions into account, but some of them are certainly experienced analysts. Moreover, he's advising not to make any purchases during the dip, is he possibly implying a further drop? Who knows.

Im not really that a fan on listening out others calls or analysis because each one of us could really be having their own speculations and predictions but the difference is that these people are knowledgeable on

investment or market movements but doesnt mean that they would really be that precise on where the prices could possibly go and whenever i do see some words came out from their mouths and telling that

we shouldn't buy something on this bear market then i do really saw the opposite thing of such decision. Who knows if we would be dropping low in 20k? IF ever that happens
then my funds is already to buy into those good points.

Ultegra134

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Peter Schiff, an American stockbroker also tweeted about Bitcoin's possible crash at $20.000 and Ethereum's down to $1.000. I'm not sure if we should take such opinions into account, but some of them are certainly experienced analysts. Moreover, he's advising not to make any purchases during the dip, is he possibly implying a further drop? Who knows.

GeorgeJohn

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Op really like your tone concerning the regulations of cryptocurrencies. Bothering much or been inquisitive of cryptocurrency acceleration is like someone who import goods and praying for it to reach its country. On my own i don't need to have tension on bitcoin because i know quite well that it will resurrect. It's obvious that people who is desperate for it especially investors are curious to ensure about Bitcoin price increases in order to make profit.

$crypto$

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Quote from: LogitechMouse on June 11, 2022, 11:39:37 AM

Well, I will not be surprised if this happens because after all, we are already in a downward trend since the start of the year and there is a chance that we might move either downward or sideways until the end of the year. I don't expect something good that will cause the market to pump will happen at least this year, though I will not be surprised if Bitcoin went on to another continuous upward movement.

This possibility occurs because other scenarios also say Bitcoin will continue to fall even though it will rise first, there have been some big sentiments so far about the decline in the price of bitcoin including now it's back down again because there is news about Ethereum dropping by a dozen percent and it's being widely discussed, of course. this will at least have a slight effect on the value of bitcoin, and I will remain relaxed even though the price will face the next $20,000.

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Quote from: Wilhelm on June 10, 2022, 10:40:29 AM

My gut says there will be a flash down to $20k to mop up all the shorts and then a steep rise to leave all the weak hands behind. But then again this is Bitcoin.

It can happen or it cannot. After all, we are all predicting, and we don't know what will happen in the future

.

When Bitcoin is above $40,000, many are saying that it will be the psychological support. Now when Bitcoin went below it, many are saying again that Bitcoin's next psychological support is $30,000. Now it is happening again and analysts are saying that the next support where Bitcoin might fall down is $20,000. It looks like there is a trend here Cheesy

.

Well, I will not be surprised if this happens because after all, we are already in a downward trend since the start of the year and there is a chance that we might move either downward or sideways until the end of the year. I don't expect something good that will cause the market to pump will happen at least this year, though I will not be surprised if Bitcoin went on to another continuous upward movement.

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Quote from: Oceat on June 11, 2022, 11:21:42 AM

Quote from: Oasisman on June 11, 2022, 08:43:12 AM

Quote from: arufox on June 11, 2022, 08:32:42 AM

It is possible that the bitcoin price scenario will drop to the $20k-$23k area which is likely to occur in the next few weeks, especially until now bitcoin has not been able to lift its price back, where currently the bitcoin price is traded in the $28k-29k area.

And what is your fundamental explanation why Bitcoin drops down to that level in a few weeks? Coz what I'm seeing is the continued buying and selling that causes Bitcoin price to stay within the 28k-$30k region. Though there is always a possibility as nobody can predict accurately, but looking at the price actions and market sentiments currently, I don't think it would fall below that level as soon as the coming weeks.

Well, it's been so long since the bear market started so there's a possibility that it might fall for that price soon although, no one knows when it would happen but I am certain that it will go at that level soon. What we could just do is to follow most of the prediction and expect it will happen since we can't control the outcome no matter what we do.

And looking at how the price slowly dropping that it almost hit $27k is really a proof that it's most likely going to drop at that price. It just needs a single FUD and you can expect that a dump will certainly go straight to that price.

This kind of mentality will bite you in the backside. This is called weak hands.

The current sideways movement means there is a balance in market driving forces.
When you go from a bear market into a prolonged sideways movement that indicates the tide is changing.
It is also called the is the "accumulation" phase. Whales are playing the Market shaking out weak hands.
And when the tide has changed we will be in a bull market...

After being here for way too long I know that FUD is a great bullish indicator and FOMO is a bearish signal.

Topic: Bitcoin scenario crashing to $20.000 - $23.000 - page 6. (Read 1132 times)