Topic: Congrats Bitcoin Community. Today is $20k day! (Read 544 times)

New history has occurred in the crypto world, bitcoin reached new ath at almost $ 30k and a lot of mass adoption has occurred,
of course this makes bitcoin fundamentals stronger, for example paypal and recently elon musk is promoting bitcoin, how can not bitcoin bullish!

yes we are all shock seeing btc reach this point , who would thought this will happen in the last month of this year when btc acted verry lethargic right at the start of this year and onwards .

this isnt a start to reach what 2017 have reached but we already passed what 2017 have become , this year is simply better than it or to any past years and since we are here what can we do ? nothing but expecting for more but that should happen by next year and beyond .

Of course seeing the current price of bitcoin makes me quite shocked and this is a great start to be able to reach what it was in 2017,
Seeing the development so far, I am optimistic that bitcoin will continue to rise and we'll see what happens in the future

You mean the bitcoin price is $27k right now? I can't believe what I am seeing right now! Yeah I expected bitcoin to rise even more than this but seeing it and living the moment is just another thing

When bitcoin reached again the 20k dollars everyone will be happy because it means we achieve our goal and we are possible to get a big profit. Many people are wants to see the price of the bitcoin become very high and it's happened and be thankful for that and the price now is 23k dollars which is very nice to see and hoping we take care this value because possible more pump will happen next year.

Exstasie,
these thoughts have brought me to a new strategy for my long term crypto. Instead of trying to time the market and sell it all close to the top, assuming these cycles will just stay the same and we'll see an 80% fall over the following year and trying to hit the bottom again the way I did perfectly two years ago, I'm just going for a much longer term strategy. I'll sell about 10% of long term Bitcoin in a year just go get some initial money out and be comfortable financially, and then after that I'll sell a fixed amount each year which would last me another 27 years until I ran out of what I currently own. That way I'm still getting money out (taking profits) on a regular long term basis, but I allow most of my coins to stay in for much higher prices in the future, and I don't have to try to guess the market tops and bottoms which I would likely often get wrong.

Anyway, thanks for leading me to this line of thinking. It really relieved me today, as I realized I don't need to worry anymore about guessing tops and bottoms in the future, and I just keep the majority of my coins very long term.

Possibly this is not the right place Bitcoin will like to have Christmas ($24k), though the drooped or correction was observed and the market bounced back immediately, this shows how strong the market is; compared to last bull-run. The achievement of Bitcoin making it upto $20k was deserved and moving forward will be the rest of the story as institutional investors like Mycrostrategy still buying into Bitcoin at this peak.

Regardless of what we have been through this year 2020, this Bitcoin rally is one of the best things that happened (for me at least). We can now see that a lot of institutions and a large individual who are already been venturing into Bitcoin which makes its price skyrocket and I hope this adoption continues. As a matter of fact, even the prestigious person Elon Musk is now getting captivated by Bitcoin and you can see his post on Twitter. The rally we have way back in 2017 is more likely because of the FOMO but now the growth was firm and strong enough thereby I don't think that correction will be that fatal as we had before.

2020 is a very impressive year for bitcoin, starting with all kinds of problems at the beginning of the year starting from not happening what people expected when the bitcoin halving, and the spread of covid 19 which made the market panic, but all of that can be passed very fantastically at the end of the year with get new ATH. debunking all the speculation that bitcoin will never reach ATH which makes haters even hotter. and we see that decentralized adoption is indeed more promising in the future.

I'll have to look into Fib retracements. I've of course seen people use that for years but never actually researched it myself.

Yeah only selling a % is wise. I have no doubt in $1 million plus bitcoin in the future. I'd like to still have a bunch of Bitcoin when it gets up there. I just ideally want to play the market cycle game well and increase my holdings substantially every few years while also taking out plenty of cash for living so I'm not 100% at the whims of the crypto market haha (I retired early in summer of last year so crypto is my only income source so far in retirement ). I mean if I only sold my ETH and LINK, plus 20% of my BTC at $100k I'd be well set up in terms of savings in the bank plus a giant trading stash to use to stack more long term sats (and ETH) in the next market cycle, while then not worrying about trying to time the top or the bottom. And of course if it goes significantly over $100k I could sell another 20% or whatever. Not bad exstasie...I will think about this when the market starts getting high.

There's no right answer.

At least you can take comfort in the fact that you won't be buying anywhere near the top, nor selling anywhere near the bottom. You're way ahead of the curve. So what if you need to wait a few more years to realize ridiculous exponential gains?


Yeah. I'm way too scared to sell all my coins at one price. In fact, I'm scared to ever sell all my coins, period. I only ever sell percentages of my total stash because I need to hedge against the possibility that BTC goes way higher (or doesn't crash as hard) as we expect.


Yep, that 50% crash over a few days in mid-December (reversing all the parabolic gains from earlier in the month), on epic volume, was a strong sign of a bubble pop. If you sold the subsequent ~70% bounce to the $17,000s you'd have made out like a bandit.

We can't know how much it's going to bounce exactly, but I would bet hard on the 61.8%-78.6% Fib retracement area. Very reliable. We call the middle of that range (the 70.5%) the OTE ("Optimal trade entry") level, which is almost exactly where price reversed in January 2018.

I remember way back in 2017 when I first joined the forum, the price of one (1) bitcoin was around $5,000-$5,500 and people were blindly speculating that its price will reach $20,000 in the near future.
Although I admit that I lack the information and knowledge about the latest trends and news about the price of bitcoin, I believed in my guts that its price would sky-rocket in the near future.

Note: If you are one of those people who purchased bitcoin last December 2017 when its price reached a peak of around $19,000, then today is your chance to at least recover your losses and trade-in some of your bitcoins to cash (although I do not recommend this).

That's a pretty good strategy. Like after the 2017 peak, at least on Coinbase, I dunno about other exchanges, it dropped all the way to $10,000s, then came back to $16k or $17k a couple times afterwards in the ensuing bounces. Problem still remains you don't know how much it's going to bounce, but yeah it protects from selling wayyyy too early in a bull market. If I still have some coin left after the crash begins I would likely try to do this and hit a bounce.

Of course there is still the problem of maybe you mistake a bull market correction and turnaround for the start of the bear market and initial bounce. My brother in 2017 bought at $2500 or something and on the very first correction, after ~$4800 was hit, he sold at like $3500 (not helped by an in-law in the financial industry who told him to get out now and that Bitcoin is going to zero haha). But he thought that was the big crash and I tried to tell him that was a huge mistake on his part but he had already sold. I certainly can't say if I see Bitcoin dropping 30-40% that I'll know whether or not it's the start of the bear market or just a correction in the ongoing bull market.

In general though I'll be watching what the price is doing, as adaseb said. I expect a blow-off top to end the bull market would be the result of a very significant rise over the course of a month or two, that outstrips the previous big rises. Like if price hits $50k, then corrects to say $30k, then builds back to $50k, then a month or two later has over doubled to $120k, I'd think it's peaking at that point and we're about to see a blow-off top. Whereas if price hits $80k, corrects to say $50k, builds back to $80k and then a month or two later shoots up to $120k, I wouldn't think that's a perilous enough climb to represent a blow-off top so I would think it's going higher still, but if shortly after that it shot up to like $150k I'd think that $80k to $150k rise at those price levels would likely represent an incoming peak and blow-off top.

Yeah I'm well aware I could sell over $100k and then still see it rise significantly and be kicking myself. But you have to sell somewhere (if you want to play the market cycle game)! I refused to sell at $20k last time (even though a friend of mine who is big into ETH told me on the exact day that Bitcoin peaked that I should sell now haha, I was like "no way, $50k in 2018" haha! I ended up selling some much further down, but also trying to trade during the crash which lost me tens of thousands of $$ of my gains from the bull market since ya know it was crashing haha. Luckily I then bought the bottom en masse perfectly in the $3000s a year later. This time around I plan to just get out and **hopefully** catch near the bottom to buy back long term crypto and then put in my trading stash to start trading before the next bear market ends.

Honestly I don't see this market cycle going much over $100k, I don't see $200k+ as a realistic possibility this market cycle. I of course could be wrong there though. If institutional buyers weren't starting to buy in a significant way already, I figured the trend of bull runs getting much smaller each time would continue, cuz the retail market is only so big. But with this inflow of big money starting already, possibly a year out from a potential cycle peak, i definitely see the possibility that the big $100k target could be significantly passed before a significant bear market ensues.

Things I've got going for me are, even if I just sold everything let's say at like $70k, put it all in the stock market and never touched bitcoin again, I could live off stock dividend earnings the rest of my life. I wouldn't be filthy rich, but I wouldn't ever worry about money again. So if I manage to hold out for $100k and sell everything there or just above, even if it moved to $200k shortly after, I'd be pissed about missing that haha for sure, but I'd still be financially set for life

I have two main worries:
1. What if I get greedy and I'm like nah I'm not selling anything under $100k, and I try to sell or start selling above $100k, and it peaks just under that and I have to wait several years to actually get money out cuz then I don't want to sell while it's crashing.
2. Even if I play it super well, sell just over $100k just before it peaks, but then because the game has changed and institutional buyers are loading up so much continuously that a blow-off top to end the market cycle doesn't result in the standard ~80% crash because big money is buying up all the panicking sellers, so I sell and look to buy in at like $30k or something and it never gets near that low again. This makes me think, sort of in line with your post above, that I should only sell maybe like 50% or something of my bitcoin stash around $100k. That way if it goes wayyy higher I can sell some way higher (the point you are making), but also if the crash is far shallower than we have come to expect I'm not just sitting 100% in cash waiting for the price to keep dropping when it isn't actually going to drop as low as I think and I end up buying back quite high.

Basically though my plan is probably sell a little bit in high five digits, around $85k-95k, just in case it fails to break though $100k. Sell a bunch in the $100k - $120k area probably. But keep some longer in case it goes much higher so I can sell up higher, and alternatively if it doesn't go higher but the crash is much more shallow this time around I would then at least still have some Bitcoin so freak out less wondering if my buys will be hit or not.

Yeah, that was my old mentor's system: wait until the bubble pops and then sell the bounce. It's the only way to hedge against the exponential upside, which can't be predicted beforehand.

That's what I did in 2013 and 2017. You won't hear me claiming I sold the top of every bubble like some people around here!

It's gonna be one of the best Newyear and Christmas for sure , I must admit that this event brings me more than 120% profit and i doubt that days ago i was thinking to Sell out just to make my Holiday season stress free and pure of happiness .

But this is a pure happiness and enjoyment ,Seeing your wallet increasing its Value.

What i am waiting is more institutional investors getting inside and trusting Bitcoin though this wont happen this season because the price is really high and they will wait for correction to enter and invest.

Congratulation to all of us.

It's been a long and tough year, a lot of things happened, and right now seems so bright when it comes to Bitcoin's future. We are not just waiting for what will happen next year since, in my opinion, I think it would be the year when Bitcoin will be widely adopted. Since Paypal started it, we never know which platforms will step next.

I don't think you should set a price to sell for like $50K or $100K or $500K, you should sell based on what the price is doing.

If you look at the previous bull and bear cycles, there is usually a sharp rejection (2011,2013,2017) and there is a bounce to at least 50% from the top and if you sell then, usually its the highest low before starting the bear cycle.

You can even use fibs. Either 50% or 61.8% fibs would work. So you can either guess and sell everything today at $23K or wait for it to hit like $50K, lose half its value going to $25K, and then wait for the 50% bounce and sell everything at $37.5K. Its not $50K but easier than guessing and selling everything at $23K.

So whatever the ATH is, sell 50% from that ATH on the bounce.

I'm one who sold early though I'm not thinking of bitcoin is dying. But that's just me, who wasted opportunity through selling at half of what we've got today. Still a lesson, an expensive lesson, a painful lesson but I'm still happy that I've got to ride the fun for bitcoin. Still got something left on my stash.

Amazing at it is.  

Are we having the support already?

We already hit the $23,700 level yesterday, but then the price is down, and I think that is because the price makes a correction so that we can buy back bitcoin at a low price. But the price is trying to increase again, and if you check on the market, the moving of bitcoin to grow is still there, and the price can get more supports this day. We will back to see $23k again soon, and we will see bitcoin price breaks the highest price again.

$23,700 will be the new ATH for bitcoin after we wait for a while this year. Perhaps, another new ATH will be coming in the next year, but we might see another new ATH in the next week. 

Yes, as I have said before, there are no ceiling, maybe the new norm will be $20k++ at the end of the year. But wait, we are just starting up this bull run, I'm expecting a big run next year, $30k or even higher that we never expected. And again, for those who sold early? wait for the price to dip, that is if we are going to see bitcoin going below 5 digits again. 

What % of your stash are you planning to sell?

It might be a brilliant place to sell if we're looking at a 2013 scenario, where we had a mini bubble in April followed by the big blowout in November. The April run topped ~7x above the 2011 ATH, then the market crashed 83%. You'd make a killing on that.

I'm a little worried we're looking at something different though. If it's more like 2017, we could go straight to $300K before the bubble pops. Selling everything at $100K would be extremely painful in that case.

Just something to consider.

Thank God! I can't believe we are finally over $20k, for the past month or so we have been waiting for bitcoin to reach above $20k and we are finally here, this is one of the happiest moments of my life. I would like to point out to other people who are new because they saw this news that do not be worried, first of all bitcoin always has moments where it will go down so you can buy when it goes down.

Secondly you can always put your money in altcoins as well, they are there to make you money, most of them do not worth that much in bitcoin right now, less than what they used to, they worth decent in dollar price but they are not worth much in bitcoins, so you if you think you are late to bitcoin party, you could always buy altcoins and hope that they go up.

I wonder who wins in the Coinmarketcap prediction contest, he is or they are lucky to have guessed the right time and day to predict the right time when Bitcoin will reach the $20000 level, I hope there will be no crash that is going to happen just like what we experienced in 2017, it's been a roller coaster ride this year but Bitcoin made it to the top I hope it will stay in the $20000 level the whole month and rise again.

actually correction it's 23,586$ mate 

The Highest ever value of bitcoin recorded few hours ago and this will be remembered for another long time again.

Because i think that market is stabilizing now and that High price would be the Highest so far this year.

exactly 2 weeks from now and the record was created,This would be bringing a Very Happy and Prosperous Xmass and NewYear to all of those who believe in Crypto, and lot of tears to those who refuse and bring fud to this community.

Enjoy all the days of 2020 and be prepare for the next .

Patience is the key to success and I am sure every investor that bought during the previous ATH price will be counting their profit now while those that sell at a lost price will feel sad for their impatient opinion. However, i can see the market has experienced a fraction form of correction and i expect the main correction of happening when it almost Christmas.

Bitcoin is touching a new ATH today, so amazing...

those who sell their Bitcoin for no reason there is an urgent need must be very sad now.  Bitcoin value continues to rise, it is likely we will see $ 25k in the near future (before 2021)..

wow 2017 will no longer be the reference for bitcoin biggest rises, now 2020 is rocking with so many ATH being broken every so on. $22.7k now in preev, just wow incredible! My condolences to those who sold their bitcoin at half that number because they think BTC is dying!

We are now at $23.3k and it's projected to break the $25k mark and for sure many are celebrating for the current gain we've got especially for traders who keep watching the market since for sure they are earning a thousand of bucks right now. Hopefully we can reach to $30k since it will bring different to bitcoins adoption on next year.

JUST IN:

Bitcoin's price: $23,354 CMC
Preev: $23,420

This is making me crazily happy! 

$100k is my main target for selling. Hoping end of next year price is over $100k and I sell just over $100k. Selling won't even start to cross my mind until it gets over $80k.

$22k already got broken tonight. $20k, $21k, and $22k for the first time today. Currently above $22k. I'm thinking we could see $24k/$25k this month before any correction.

Most of people who bought at 10k level already sold at 19k or 20k. There are too many buyers so price will keep rising but we are also due for correction so I think $30k mark will be a tough target to achieve.

will only sell when it's necessary. we may experience dump as some users who bought it at about 10k level may be tempted to sell their stash, giving them good amt of profit. if more institutional investors will keep on buying BTC, we will really see a good jump in price before the year ends. for sure, there are wealthy individuals who are also secretly stashing their own BTCs. 
some were already losing hope that they will not see the ATH price this year. but here we come, just middle of this month and we already achieved a new ATH.

Congratulations people. We are seeing a new ATH now. Bitcoin price hit more than $21k, which we are already waiting for a long time ago. I am sure that many people use this moment to sell their bitcoin and waiting for another ATH. But behind this, we need to be ready for another correction that might happen at the weekend. I hope you don't forget to profit while you can because we never know when the price will get a correction. I guess that bitcoin price can break $22k this week, so you can wait for anything that can happen to bitcoin.

Another milestone for the hardcore hodlers.
Question.. how long would you be hodling? Rather what specific price range would you prefer before selling?

So, it seems that the 3-year new ATH is really becoming a trend now, after 3 consecutive post halving bullish predictions really happened.
Well, I guess the $30k mark might be the next strong resistance level.

yeah exactly.

human nature! people are sheep. they go with the crowd.

that's why most people will only adopt bitcoin once it's a "sure thing". and by then, earlier adopters like us will already have bought them all up.

be thankful, because it's the skeptics of today who will be buying our coins hundreds of thousands of $ higher. somebody has to buy our coins.

The price keeps rising beyond $21k as the ath hit $21,464 on Bitstamp and the price at $21,323 right now.
We can expect the next target is $22k and the resistance levels around $21,5k-$21,8k.
Bitcoin $30k is probably achieved in the next year as the correction may occur after bitcoin reach the ath, some predict 30%-35% retraction.
However, $100k still too far at this point, not impossible but there are steps to go through like $30k - $50k - $75k - $80k, the great resistance will be waiting there and the market needs more investors than currently.

Haha for sure. It may very well be too predictable. As I was typing it I was thinking I'm making this seem absurdly predictable haha. But that's just the basic model I'm working with now cuz its the best model we have.

I am wondering though if the market cycle fundamentals may be changing at this point because of institutional money. Institutional money is likely investing long term, not short term or even for one market cycle, but for many years or even decades. So how likely are they to sell in a bear market? If you have millions of bitcoin that would have been sold by panicking retail investors during crashes in earlier cycles, but now are just held long term by institutions who will keep stacking sats for years to come, are we about to see the end of the traditional four year boom / 80% bust cycle?

Another complication to the market cycle coming up could be different retail frenzy behavior. 2017 was the first time a very significant part of the population heard of bitcoin. Surely there are still tons of people that still haven't heard of it or barely heard about it and don't know anything about it (someone I know just asked me a couple weeks ago what bitcoin is after I told them I trade bitcoin to live off of). But 2017/2018 was the first boom/bust cycle that a significant part of the population witnessed. Meaning that lots of people have known about Bitcoin for 3 years now, but their primary perception of it is that it always crashes, as opposed to previous market cycles when people first heard about it during the bubble and jumped in in a frenzy and the amount who ever heard about it was very limited. I'm wondering if a lot of these people won't FOMO into the market in 2021 because they have a negative perception (in opposition to the truth of course haha) of Bitcoin and will just assume it is about to crash any day like it did last time they were hearing a bunch about Bitcoin.

I mean literally I've shown people the long term price chart of Bitcoin, which always goes up and to the right, and they still tell me "it always crashes" and tell me I should sell while I can. We could see less volatility in the market cycle and a more steady drive upward in price with shorter smaller corrections rather than full blown bear markets, but also less insane bubbles. We could see something more akin to the second half of 2019 where the market got a bit overexcited and just needed a 6 month drop before quickly regaining a good bit of that ground and heading back to $10k in the first month of this year. I've been thinking this for a while. Maybe 4 year halving-inspired market cycle continues but it's a bit more stable. No year long bear market and then bottom scrapping market for a bunch of months. The old metrics of sell really high at some point then wait a year and buy back at the bottom around the 200 week MA may not apply anymore. Surely a lot more retail investors are and will jump in next year, but will there be a smaller blow-off top and when they panic sell afterwards will institutions be happy to stack more sats from these panic sold coins at say 40-50% discount, creating a shorter and more stable bear market, rather than the 80% stumbling off a cliff into years of despair that we are used to?





Yeah right now I'm thinking like $22k to $24k and then correction to $16k - $18k. Like maybe a good bit of January is back under $20k, but by February heading back above $20k and then March/April perhaps heading to $30k. That'd be my prediction for the near term.

Finally we've hit the best part of btc this year and it's really an amazing surprise as I've checked the blockfolio updated price. So speechless on this news right now, and thankfully $20k have been acquired and it's already an history for everybody who waited for the perfect time. If it would surpass $20k, then that's a great fulfilment and hoping more gains to come.

I've been roughly thinking along those lines for years but when you put it in those terms, it sounds just a little too predictable, don't you think?


Yep, but since we still haven't seen a significant weekly/monthly correction, I'm keeping stops tight and not building long term positions right now. I was originally planning on a spike through the old ATH to maybe $21-23K before a major shakeout (a la March 2017) but resistance at the old ATH the last couple weeks had me thinking it could happen earlier. Back to the original plan now.....

A reason to smile for the investors who invested in 2017 at Bitcoin's previous ATH if they still hold it because their profit started just now and now every news media portals have the flashnews about Bitcoin reaching $20k for the first time and this will generate more new investment into Bitcoin which will keep the price above $20k for atleast longer than last bull run.

No surprise. Right on schedule.

Bitcoin has done a great move to reach again the ATH and the year is not closed yet. The corona virus didn't stop this great move that we are today seeing. It was like a story back in 2017 that looked impossible and now 2020 has been repeated. Maybe $30,000 is close in 2021

A great start to end the year and welcome the new year (hard to imagine for a quick downfall in the remaining days of the year). Should be one of the most proven things that Bitcoin can do after doubts that raised in 2018.

For hodlers, one simple word, congrats. Patience is rewarded but still a long journey on your target goals.

For waiting for ATH to sell, you won't feel the new ATH unless you sold lol.

As always, ups and downs, "just trust the process" no matter what.

I agree 2021 is gonna be a good year.  Very bullish on price with a lot of big players coming in and taking a position in bitcoin.  Only question is where is the new top.  Always a guessing game once new ATH is hit.

Uhm, yes thanks for that comparison.

As I remember 2016 was when halving happened and we're in 2020 which halving had happened. Very much clear and waiting for more by 2021.

Keep hodling everyone!

I can see Bitcoin going over 50k$ by autumn and maybe 90$ by winter 2021. This price action from today showed us that no matter how strong the bear market and resistance were , in the end , the bulls won the race. Now we will see a lot of ups and down but it should be the beginning of the bull run.

$30k?? Your sights are set far too low. $30k will probably happen by Spring. $100k is the main target for 2021.

Breaking $20k basically signals the START of the main part of the bull run, so no worry about 2018. 2022 will probably be like 2018, but 2021 should be like 2017, since 2020 was like 2016.

Congratulations to the strong hands that have held from the bearish market of 2018 up to this moment. That sure is a nice and strong hand you got guys.

You said it so. 2021 is exciting and I hope that it won't be the same as 2018 just after the bull run.

Yep! Finally hit the $20K and now Bitcoin is heading even to $21K!

What a decent end of this year after all the coronavirus crap! Crossing fingers to see it in the $30K range in less than 12 months :))

$20k!

It's either a day or two away from being exactly 3 years from the peak of the last market cycle when Bitcoin came soooo close to hitting $20k (granted the global price I guess did pass $20k but in USD markets it came up just short). And now almost to the day 3 years later it surges past $20k to signal the bull run has truly begun!

It's gonna be a good next year!