From what you've all mentioned, $20.000 sounds like a pretty feasible scenario. Honestly, it has been stuck around $30.000 for quite a few weeks. I also believe that eventually, it will suddenly crash down to $20.000 - $23.000, before slowly recovering and regaining ground. Such scenario will definitely cause panic to investors, similarly to 2017's crash.
Hopefully, it'll eventually recover, providing that we're patient enough to wait it out.
Topic: Bitcoin scenario crashing to $20.000 - $23.000 - page 8. (Read 1173 times)
Does the price follow logical analysis? The price went crazy at the end of 2020 and the beginning of 2021. Even with all the negative news that was happening, the continuation of some institutions to buy bitcoin made the price go up sharply, so things like accepting bitcoin will make the price soar.
I do not expect that we will witness a change in the barrier of ~20k,30k.40k at the present time unless something exceptional happens, so the levels of changing from 23k to 20k do not represent a serious change.
The serious change will be if it falls below the level of 19k, which is the psychological barrier that was not broken in the previous cycles.
and we touch less than 23k ($22.9k on KuCoin BTC/USDC.)
Image source @ImThour
I do not expect that we will witness a change in the barrier of ~20k,30k.40k at the present time unless something exceptional happens, so the levels of changing from 23k to 20k do not represent a serious change.
The serious change will be if it falls below the level of 19k, which is the psychological barrier that was not broken in the previous cycles.
and we touch less than 23k ($22.9k on KuCoin BTC/USDC.)
Image source @ImThour
I don't think we'll see a bounce off the previous high. The previous high was a bubble and not a serious support level. If we fall below the recent low around $25K, there is not a doubt in my mind that we slide all the way down to the real resistance level, which from looking at the chart appears to be closer to $10K. My concern at that point would be that Bitcoin has never fallen below the previous 4-year cycle high since it became known beyond cypherpunks. So there are probably many who would view a drop below $20K as the end of Bitcoin, which would likely be the catalyst to such a large drop from there.
So do I see Bitcoin hitting $20,000? Sure, on it's way to $10K. I do hope we bounce off $26K and go straight to $200,000 though. If I made the rules, that's what we'd do.
So do I see Bitcoin hitting $20,000? Sure, on it's way to $10K. I do hope we bounce off $26K and go straight to $200,000 though. If I made the rules, that's what we'd do.
It’s just a standard bear market that we’ve seen numerous times in bitcoin’s relatively short lifetime thus far. We are still in 4 year cycles. $69,4xx was the top & we’re trending towards a bottom now (which we have yet to reach).
$20,000 to $23,000 seems like a reasonable cycle bottom target. We’ll likely see it in the next 9 months before slowly, painfully grinding upwards as we see the next halving in the distance.
Don’t panic, continue to stack & we will moon in 2025.
$20,000 to $23,000 seems like a reasonable cycle bottom target. We’ll likely see it in the next 9 months before slowly, painfully grinding upwards as we see the next halving in the distance.
Don’t panic, continue to stack & we will moon in 2025.
The scenario you're describing is actually something that's been speculated about since the price went downhill and went below $30k - many speculate that the bottom will be just around $20k. I'm not an expert on TA, but this whole situation with inflation, recession, and war is reflected in everything, and Bitcoin (as many wanted) has become part of the system, and whether someone likes it or not shares much of its fate.
However, let us remember that after each halving and ATH, there was a drastic correction, and that the price, without everything I have already mentioned, would probably have undergone a correction. Looking back, the current price is more than phenomenal compared to halving 2016 ($400), or halving 2020 (about $7000) so in the long run, no one can be dissatisfied even if there is an even greater loss of value.
However, let us remember that after each halving and ATH, there was a drastic correction, and that the price, without everything I have already mentioned, would probably have undergone a correction. Looking back, the current price is more than phenomenal compared to halving 2016 ($400), or halving 2020 (about $7000) so in the long run, no one can be dissatisfied even if there is an even greater loss of value.
$20K that is what I predicted as well, but bitcoin touches that price surely people will again talk more nagative about it and media, articles , etc then the history will repeat so who is smart and rich enough will make most out of it while safe hands will struggle to get the maximum reap as always, never fall twice just accumulate when its cheap because we never gonna see these range after couple of years later.
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.
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If that scenario happens, I hope people are not panicking because if they panic, they will sell all of their bitcoin before the price goes down. I really hope that the price can hold at the current price and have the power to bounce up to the high price. But we should be prepared just in case the price is really down. If that price goes down to that level, we will be back to the previous years and I guess we will have more supports that can lift the price to break the next highest price. So be patient and be careful.
I guess it just validated what we have been discussing since we enter the bear market, we haven't seen the final capitulation and the price could really go down that deep, reaching as low as the previous all time high of $19k in 2017.
So I'm not surprised with this prediction, it's just a matter of when we are going to hit it. And as a investors what will our reactions, for one we should take advantage of the discounted price and fill our bags.
So I'm not surprised with this prediction, it's just a matter of when we are going to hit it. And as a investors what will our reactions, for one we should take advantage of the discounted price and fill our bags.
Hello there,
I'm not the kind of guy who bothers about its price and any predictions that pop-up, because I haven't let the downtrend affect me. I'm planning to accumulate as much Bitcoin as I can and hold it for a long period. However, an article was trending on my news feed and decided to check it out. According to the article, Bitcoin was supposedly capable of avoiding inflation, although, it seems to have been severely affected by it. The change in risk appetite, the tightening of monetary policies and the withdrawal of liquidity from the markets and, finally, the rapid rise in inflation show that the cryptocurrency market has been severely impacted.
George Savakis, with the help of the analyst Dimitris Tsantoy, a member of Elliot Wave trader community, are predicting a correction down to $20.000 - $23.000, while claiming that as long as Bitcoin is below $35.000, it's extremely unlikely to see a market recovery.
Source: https://www.euro2day.gr/investments/crypto/article/2136805/h-tehnikh-analysh-deihnei-nea-ptosh-toy-bitcoin-to.html
Translated to English:
https://www-euro2day-gr.translate.goog/investments/crypto/article/2136805/h-tehnikh-analysh-deihnei-nea-ptosh-toy-bitcoin-to.html?_x_tr_sl=en&_x_tr_tl=el&_x_tr_hl=el&_x_tr_pto=wapp
I'm not the kind of guy who bothers about its price and any predictions that pop-up, because I haven't let the downtrend affect me. I'm planning to accumulate as much Bitcoin as I can and hold it for a long period. However, an article was trending on my news feed and decided to check it out. According to the article, Bitcoin was supposedly capable of avoiding inflation, although, it seems to have been severely affected by it. The change in risk appetite, the tightening of monetary policies and the withdrawal of liquidity from the markets and, finally, the rapid rise in inflation show that the cryptocurrency market has been severely impacted.
George Savakis, with the help of the analyst Dimitris Tsantoy, a member of Elliot Wave trader community, are predicting a correction down to $20.000 - $23.000, while claiming that as long as Bitcoin is below $35.000, it's extremely unlikely to see a market recovery.
Source: https://www.euro2day.gr/investments/crypto/article/2136805/h-tehnikh-analysh-deihnei-nea-ptosh-toy-bitcoin-to.html
Translated to English:
https://www-euro2day-gr.translate.goog/investments/crypto/article/2136805/h-tehnikh-analysh-deihnei-nea-ptosh-toy-bitcoin-to.html?_x_tr_sl=en&_x_tr_tl=el&_x_tr_hl=el&_x_tr_pto=wapp
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