How bad will the bear market of 2021 get? How low will BTC go? - page 4.

nelson4lov

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Quote from: hahay on January 21, 2021, 02:08:50 PM

Even until this sharp drop occurs I still don't think it's the true peak, because I'm still optimistic the ATH will be higher but yes. If this is the end then it looks like the likely price to be maintained is still in the 20k range with the bottom probably going in the 15k range and above. Nobody knows for sure but if you look at the history I think it still makes sense, and I don't care how strong the dollar's value will be with the new government because at least any currency and asset will definitely go up and down.

Like you, I'm not quite convinced that this is end of the road for the Bitcoin bulls. In my opinion, there's still more to offer and more grounds to cover leading to a new, ATH that is significantly away from the last one - $42K. Somewhere between the range of $45K to $55K will do for me. If this is where it ends for this bull run, then I'm setting my sights for a bottom between $15K - $25K. I'm not placing any trades soon until I see a positive breakout though.

Argoo

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Quote from: minersday on January 21, 2021, 06:36:51 AM

Quote

How bad will the bear market of 2021 get? How low will BTC go?

Considering the market pattern of Bitcoin in 2017, 2018, 2019 and 2020, it is likely that we might see the market value of bitcoin go below $30k or $25k. The Bitcoin market is also full of surprises, I will be surprised if we see Bitcoin drop below $25k. Also, the market value can potentially go beyond $40k.

If we see a bear market this year, I don't think it will be deep and long. Most of it is expected to be bullish this year. May will be a year since the last halving and this period should be marked by good growth. Therefore, the current drop in the price of bitcoin may just be another correction, but it is possible that this time the drop will be longer. This is a cryptocurrency and any surprises are possible here.

hahay

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Even until this sharp drop occurs I still don't think it's the true peak, because I'm still optimistic the ATH will be higher but yes. If this is the end then it looks like the likely price to be maintained is still in the 20k range with the bottom probably going in the 15k range and above. Nobody knows for sure but if you look at the history I think it still makes sense, and I don't care how strong the dollar's value will be with the new government because at least any currency and asset will definitely go up and down.

Edininja

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Quote from: A62662 on January 20, 2021, 05:52:08 AM

Bitcoin is down considerably from it's peak. How low do YOU think bitcoin will go before it stabilizes?

The new incoming US administration has stated that it does not seek a weak dollar, will that be the deathblow to the future of bitcoin?

Printing 3 trillion is not a "deathblow." Look at what they do not what they tell the cameras.

veznata

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i don't know how many people know about bitcoin since 2010-11 but for those who are in this business for that long they know very well that must not panic and just hold. so many times we heard in past BTC is about to collapse. the fact is it goes higher and higher. another fact: we are in a bull period this means price climbs very much while 20% dips (like the one we have now) is a normal correction. we also have seen that million times so far. the chances bitcoin never reaches 40K again? for me 1 in 100K.

A62662

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Quote from: thecodebear on January 21, 2021, 12:11:44 PM

Quote from: A62662 on January 20, 2021, 05:52:08 AM

Bitcoin is down considerably from it's peak. How low do YOU think bitcoin will go before it stabilizes?

The new incoming US administration has stated that it does not seek a weak dollar, will that be the deathblow to the future of bitcoin?

Since when is there a bear market in 2021? We're in a bull market. A correction is not a bear market.

And let's see, depreciating dollar due to inflation vs booming deflationary emerging asset....haha no, nothing the dollar does can stop bitcoin. A stronger dollar might mean Bitcoin is at $34k instead of $35k, or $115k instead of $120k, or $310k instead of $320k.

What about $7k instead of $8K or $3k instead of $4K. You didn't mention that, did you forget?

thecodebear

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Quote from: A62662 on January 20, 2021, 05:52:08 AM

Bitcoin is down considerably from it's peak. How low do YOU think bitcoin will go before it stabilizes?

The new incoming US administration has stated that it does not seek a weak dollar, will that be the deathblow to the future of bitcoin?

Since when is there a bear market in 2021? We're in a bull market. A correction is not a bear market.

And let's see, depreciating dollar due to inflation vs booming deflationary emerging asset....haha no, nothing the dollar does can stop bitcoin. A stronger dollar might mean Bitcoin is at $34k instead of $35k, or $115k instead of $120k, or $310k instead of $320k.

A62662

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Right now we have the good, the bad and the ugly.

The bad is that bitcoin has reached it's peak and is in the process of dropping.

The good is that there is still plenty of profit for the ones that bought early, if they sell now before it falls even more. We might see bitcoin come down and drop below 20k in the near future.

The ugly is whoever bought at or near the top, and already suffer a large loss that will most likely grow even bigger.

Where will the bottom be, where will it stop dropping?

Bitstar_coin

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Quote from: LittleBitFunny on January 20, 2021, 09:04:03 AM

You have to know that BTC is not a charity farm. The main purpose should be buy as much as you can when price started falling, and hold for a long time to reach on your target, after reaching to your target you will see your expected profit. I don't prefer day trading or short term trading. So, try to buy more Bitcoin without panic when the price goes down.

What has charity farm got to do with the op's question! i don't think the op sees btc as a charity farm rather an investor who cares about the nature of the investment, it is very direct the question op ask but unfortunate nobody can say how low btc will go this year, maybe it will not go as low as 2018 however it will be best to keep watch of the market behavior to know.

Twinkledoe

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Quote from: francois-cooper on January 21, 2021, 07:20:33 AM

For those who bought bitcoin 3 months ago, they're still x2 on their investment.
It's not too bad.

Yes, so if they decided to sell it now, they are still in good profit. Now, it is up to them if they will continue to risk or secure some of their coins by converting some to their fiat. It is really up to the user how he will make a decision on this matter. Are they really up to the challenge this year or not?

molsewid

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Quote from: minersday on January 21, 2021, 06:36:51 AM

Quote

How bad will the bear market of 2021 get? How low will BTC go?

Considering the market pattern of Bitcoin in 2017, 2018, 2019 and 2020, it is likely that we might see the market value of bitcoin go below $30k or $25k. The Bitcoin market is also full of surprises, I will be surprised if we see Bitcoin drop below $25k. Also, the market value can potentially go beyond $40k.

I bet it will go as low as $25k too, it is continously dropping this week and I don't see any strong support that will hold the bitcoin and bounce it afterwards, the new candle in 4H chart shows red meaning it is open downwards this will be an indicator that bitcoin has a higher possibility that go dump in the next few hrs, maybe later after 4hrs if we see that it opens in green one maybe it will bounce back and continue to grow as high as 40k but as what I can see it will go straight to the buttom.

francois-cooper

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For those who bought bitcoin 3 months ago, they're still x2 on their investment.
It's not too bad.

Oasisman

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Quote from: A62662 on January 21, 2021, 03:57:45 AM

This movie was an old movie with a futuristic setting, and people was becoming dumber. Ok, I remember this movie, just forgot the title.

Quote from: A62662 on January 21, 2021, 03:57:45 AM

Never ever buy ANYTHING after it has had a huge runup, you are practically guaranteed a huge loss.

Guaranteed loss?
Ok, lemme ask you something. During the 2017 bullrun, those who bought even at the peak of 2017 Bitcoin ATH and still holding up to this very moment, do they have a guaranteed loss If they sell today?
Now, tell me again If they have been guaranteed a huge loss?

I have been telling this a hundred times, $30,000 or $40,000 might not be expensive tomorrow.

ultrloa

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Quote from: A62662 on January 20, 2021, 05:52:08 AM

Bitcoin is down considerably from it's peak. How low do YOU think bitcoin will go before it stabilizes?

The new incoming US administration has stated that it does not seek a weak dollar, will that be the deathblow to the future of bitcoin?

Do you think there are people here can answer your question accurately? since by the word unpredictable that what makes bitcoins mysterious and I suggest to you that its better to do your own research since people might give you a false information which can create trouble for you in the long run, remember many manipulator are giving some false insights so best not to listen if we talk about future since all info's given are just predictions.

lets just see on what will happen with the price when Biden officially set for a month, But I think it cannot give bad effect to the crypto since I believe they are aware that this is so useful.

minersday

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Quote

How bad will the bear market of 2021 get? How low will BTC go?

Considering the market pattern of Bitcoin in 2017, 2018, 2019 and 2020, it is likely that we might see the market value of bitcoin go below $30k or $25k. The Bitcoin market is also full of surprises, I will be surprised if we see Bitcoin drop below $25k. Also, the market value can potentially go beyond $40k.

tinopener

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Quote from: A62662 on January 20, 2021, 06:22:05 AM

Peter Schiff knows the true nature of assets and money better than most people, he's a fundmanager. He also knows bitcoin very well, and he thinks it's worthless garbage. So why would you assume most people would like btc and not think it's garbage.
Maybe most of them will think it's garbage just like Schiff does? Do you really think they would just love high fees, slow transactions and also other problems? Why would you assume that?

It's probably more of a case of Schiffer setting out his stall i.e. he wants to attract a more traditional, fearful type of customer. The type who has 80% in bonds.

The fund manager Ruffer Investment Management on the other hand has just added 2.5% Bitcoin to its balance sheet. Funnily enough Ruffer is a strategic "absolute return" company, sort of a bond proxy.

I've never heard of Peter Schiff's companies before, maybe because I'm in the UK. Everyone has heard of Ruffer though who manage $20bn in customer assets.

Ultimately, it's still all risk / reward with a few horses in the race.

More and more people are simply putting an each way yankee bet on Bitcoin though Wink

Lucius

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Quote from: A62662 on January 21, 2021, 03:57:45 AM

Never ever buy ANYTHING after it has had a huge runup, you are practically guaranteed a huge loss.

I wouldn’t agree with that, especially if we look at long-term investing in Bitcoin. The people who bought BTC in the last big bull run at the end of 2017 and decided to keep it were at a loss, but in the long run they made as much as 100% profit if they sold at a price of $40k. But I can agree that those who are just looking for a profit can definitely earn a lot more if they invest at a time when a big correction is happening and when a bear market is emerging.

In a little less than a year ago 1 BTC could be bought for under $5000, and then it was a great time to invest - of course for those who believed in recovery. On the other hand, it is not a bad financial decision to buy BTC even today, especially if we believe that growth of 100% or more is possible by the end of this year.

irixo10

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It is normal for a new government to say what they want for the growth of their own economy, and saying that they don't want a weak dollar is understandable moreover no country ever want that, every country strives for more stronger Currency. Also, it's too early to know what the new administration have in stock for the crypto market, we just have to wait for a while to understand their true intentions. Coming to Bitcoin also, the dump in price can be seen as price correction or it could be bear market setting in gradually, no one can really say and predictions are already out as to what level it will drop to but in essence no one can correctly answer the question of how low it get to before it stablizes. Therefore, if you are short term holder or trader, well you can make your choices to sell or keep taking profits as at when due such that if the market drops more you won't lose a lot.

A62662

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Never ever buy ANYTHING after it has had a huge runup, you are practically guaranteed a huge loss.

Sirait

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Quote from: A62662 on January 20, 2021, 06:40:33 AM

Quote from: gerietis on January 20, 2021, 06:25:31 AM

~snip

Haha. I guess the stock market would be more your thing. Low fees, even free at Robinhood. Very fast transactions using most stockbroker accounts.
Cheesy

If you invested in Tesla stock last 2 years you would have made more money than in Bitcoin, there is nothing special about btc, there is more money to be made elsewhere with less risk.

Tesla stock charts for the last 8 years

the price of Bitcoin over the last few years

^ If we look at what this chart shows, it's Bitcoin is more profitable than Tesla. Regarding what price Bitcoin will be bearish at, I can only predict it won't be below $ 17k.

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