How bad will the bear market of 2021 get? How low will BTC go? - page 5.

A62662

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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.

That has got to be some of the worst advice I've ever heard, then every purchase you make will give a ever increasing loss in a downtrend. Do you even understand what you are saying?

I would advice to sell everything you have when you see it drop every day like it has lately, you can thank me later.

LittleBitFunny

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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.

Darker45

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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?

I cannot give you the number but this correction has been expected. The rise of Bitcoin was tremendous and fast. It will have to retrace soon. This is it. But this does not mean that we are not bullish anymore.

Quote

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?

This is the US administration stating the obvious. No administration, whether incoming or outgoing, seeks a weak dollar. Who's crazy enough to say that they would want the US dollar to weaken?

But, wait a minute, how in the world is this connected to Bitcoin? Bitcoin is not exclusively a US alternative currency. The world of Bitcoin is not revolving around the US alone nor its economy or currency.

Even the fall of the entire US economy is not a deathblow to the future of Bitcoin.

Coin_trader

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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

I think gold is worthless garbage. So why would you assume most people would like gold and not think it's garbage.
Do you really think they would just love high fees, slow transactions and also other problems? Why would you assume that?

On serious note I hope for $5k/BTC in 2023 to rebuy.

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.

Cryptomarket is just on the early stage so the volume is not that big compared to the stock market. You can have a big profit in cryptomarket if you are smart enough on trading which you can't do on stock market.

For Tesla, Yes investing in Tesla 2 years ago is more profitable than BTC. But if you compared the price during the start price of BTC and Tesla, You will have a tremendous profit advantage on BTC. Your example is pretty one sided.

Sled

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Bitcoin- in bullish time

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?

Let the market turn into bearish and let people think that Bitcoin just like gold. Because for the moment that Bitcoin will go down dip again, many people will invest and make full their bag in anticipating for the next Bullish season.
if that to ask when it stabilizes, I'd no longer think that because we like it or not, it remains to have that volatility. If that be wrong with you that people believing Bitcoin as a promising asset, but I was thankful also that I'm one of them.

bosede1

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Bitcoin has reduced but I even think it has retained its volatile nature with the rate it has reduced so far. This type of reduction is not far fetched from bitcoin since the inception and it has thus far been able to surpass all levels of reduction. With Bitcoin gaining recognition in the world now, the future is bright.

aioc

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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?

It never stabilize, it's dynamic, they keep moving up or down depending on the sentiment of traders, we must accept the fact that this is how things are ever since, it is down now but will eventually recover

Quote

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?

How come? how is it possible, are they going to legiskate laws to restrict the market, what they stated did not mean targeting Cryptocurrency.

masterzino

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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?

How did you decide that the market will be bear in 2021? You will always have volatility! A month ago we couldn't even dream of seeing the previous ATH, and now the bitcoin is moving around $35k.

gurunanakji777

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Now Bitcoin is in a state where I believe any negative news can not affect the bitcoin performance. As we all know its a highly volatile cryptocurrency and one should always understand it can move heavily in any direction anytime. We can not expect it will stable on some specific price it will keep dropping and rising and this is the true nature of BTC.

AicecreaME

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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?

No one can predict the price of Bitcoin and other cryptocurrencies, yes, no one. Technical Analysis is only for us to have an idea on how the market will behave in a certain period amount of time. And about the price of dollar, it won't be a deathblow to Bitcoin. Fiat's price don't have any huge fluctuations that could affect the price of Bitcoin badly. It is always Bitcoin who wins when it comes to price competition.

Fiat is too old, not full of technology like Bitcoin and other cryptocurrencies. We are moving forward, meaning we need revolutionary things, and cryptocurrency is included.

aysg76

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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

I think gold is worthless garbage. So why would you assume most people would like gold and not think it's garbage.
Do you really think they would just love high fees, slow transactions and also other problems? Why would you assume that?

On serious note I hope for $5k/BTC in 2023 to rebuy.

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.

1. Tesla share gained more which means it's more volatile, which ultimately means more risky. If we see the long term bitcoin chart then bitcoin is only moving upward over the years.

2. Shares are held in Demat account which is maintained as centralized database. Bitcoin is stored in blockchain which is distributed hence more secure. It's not possible to change the blockchain data easily.

3. Crypto trading fees is lower than stocks. With the introduction of platform token like BNB, maker/taker fees is now as low as 0.075%. lowest ever! With no annual maintenance charges, believe me nothing!

4. It takes T+2 days usually for stocks to get delivered in Demat account and for trade to get settled. Settlement is instantaneous in case of crypto and only takes network confirmation time to transfer to personal wallet.

davis196

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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?

The Bitcoin price went from 36K USD yesterday to 34K USD today.Is this a reason for drama and panic?
Bitcoin is a volatile asset and such price drops are normal.Maybe a bear market will come.February and March usually aren't the best months for the Bitcoin market.Everything is possible and I don't mind having the opportunity to buy cheap bitcoins.
It's true that the weak dollar has a bullish impact over the Bitcoin price,but I don't think that the Biden administration will stop with the stimulus checks or lower the US budget deficit.The Federal Reserve will keep printing until the recession is gone and the recession will be gone probably in 2022-2023.

Alucard1

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This is still not down for bitcoin, even though it reaches $40000 days ago and now down to $35000 it is still bullish, do not just get emotional for the value of the bitcoin and bitcoin will never be stabilized because it is volatile, it will cha get its value time by time and will never stay for a fixed value, that s what makes bitcoin unique from other currency.

BIT-BENDER

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2021 will have a correction and the price will surge down, but in my opinion it has not started with The surge up from 2020 up-till now And comparing it with this mild drop, then they bear hasn't come this year 2021 yet, let's us all be careful about our excitement, reading the news and some country gave advice to its citizen on Bitcoin And crypto-currency, it was a satisfactory one, to summarize, its still a digital-currency and you should reckon that their are volatility.

kentrolla

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One thing you need to understand is BTC has nothing to do with dollar value, BTC doesn't need any popularity it has already been king among the crypto world and surely this might not harm the price of BTC or dollar. BTC is still undisputed champion in crypto market.

I don't think it will go as it was in mid of last year, In my opinion it might play around 15-25k again again in the last quarter the results may be different.

johnnathanexo

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I think you are mistaken BTC is not a bear market of 2021 considering its price. Yes, The price of bitcoin has gone down a bit in the recent past, but considering its rise in the last few years and the way people are becoming aware of it, BTC is only gonna go up the ladder and its price will increase.

BTC is a great place to invest your money and just like bitcoins, there are other cryptocurrencies like Etherium as well where you can invest and make good money.

Lucius

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

Bitcoin is down considerably from it's peak.

You obviously have big problems with numbers if you think this small correction can be called considerably down. The fact that BTC once exceeded $40 000 and now costs around $35 000 is more than a great achievement - except for those who do not understand how the market works.

And what kind of bear market are you talking about at all? We are in the year after the halving that has not even shown its true effect - 2021 is not 2018, the sooner you realize that the better it will be for you.

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

On serious note I hope for $5k/BTC in 2023 to rebuy.

It must be nice to live in a world of imagination, but do you really think 1 BTC will ever be worth $5000 again? That would mean that something really bad happened, and something so bad might mean that BTC has lost the trust of most investors - in other words the whole thing would only go in one direction, downwards.

A62662

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Just looked at the technical chart of btc, and it just broke down below support level just below 35k, indicating further weakness. Expect it to go down to 30k short term.

This is very concerning and a sign we are entering into a bear market.

Jating

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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?

I wouldn't call this a bear market, we are still above $30k? +10k from its last previous high in 2017. Bitcoin will never stabilised, we might see it trading sideways for some time though, until a imminent break out run.

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

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?

No, it might have a short term effect on bitcoin just like what we are seeing right now. But we are still in the bullish sentiments so I wouldn't be surprised if we go on another super fast rally in the coming months.

A62662

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

I think gold is worthless garbage. So why would you assume most people would like gold and not think it's garbage.
Do you really think they would just love high fees, slow transactions and also other problems? Why would you assume that?

On serious note I hope for $5k/BTC in 2023 to rebuy.

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.

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