I doubt Bitcoin will dip below 20k again

pilosopotasyo

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Quote from: Zemomtum on January 27, 2021, 06:41:28 PM

There is nothing that can not happen in the crypto space. That is how many confidently say BTC cannot go beyond 10K in 2017/2018 and here come to almost 3k. Crypto is volatile and something we need to expect the unexpectable.

But we can get a hint on where the market is going based on news and reactions that the industry is getting, if there are a lot of FUDS and bad news there's a possibility of a dip, and there are a lot of good news and positive feedbacks there's likely a surge in price, as a serious investor we
need to know or how to read the situation so we can make a decision.

Oceat

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Quote from: thesmallgod on January 28, 2021, 05:24:27 PM

Demand is getting high and people are getting to know more about the importance of bitcoin. A week cannot pass by without bitcoin trending on social media. The rate at which the price recovers when people take profit have also been great which means when the price go down again, people are ready to put money because they believe the price will rise again so I am very sure it will be hard to see bitcoin getting below 20k again. The worst that might happen is to fall below 30k to around 25k but going below 20k is not holistic especially at the moment that institutional investment is growing high

Correct, and if we watch closely to the volume of the market today compared to 2017 you will see a bigger bit difference and if institutional investment continue to grow higher I doubt we will see Bitcoin below $20k again. Though with the recent dip due to the price correction plus the people with weak hands tend to dump that's why Bitcoin is down from what the last time I saw $38k

We are still in a very bullish price even if some would say it's dropping, imagine from $13k before to $30k+ or even $40k in a short period of time. Although we can't blame those weak hands to sell if they saw Bitcoin starting to decline but that's just part of the price correction and at the end of the day they still think about getting their profit.

thesmallgod

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Demand is getting high and people are getting to know more about the importance of bitcoin. A week cannot pass by without bitcoin trending on social media. The rate at which the price recovers when people take profit have also been great which means when the price go down again, people are ready to put money because they believe the price will rise again so I am very sure it will be hard to see bitcoin getting below 20k again. The worst that might happen is to fall below 30k to around 25k but going below 20k is not holistic especially at the moment that institutional investment is growing high

Asuspawer09

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Quote from: DECABEATZ on December 26, 2020, 07:16:41 PM

Too many institutions and big money behind it now!!! Whats everyones opinion explain?BTC

I agree with that, the demand in bitcoin and investors are just way higher than before, even around 25k$ surely investors are just gonna invest in bitcoin no matter what for the possible profit.

Investors could easily increase its market price plus there are so many articles of million-dollar investors in bitcoin. But probably it could still happen but for just a short time.

But surely bitcoin would easily recover from these dumps in the market no matter what, I'm also hoping for a deep to hopefully reinvest some for more profit.

Wawa2013

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Nobody knows where Bitcoin will go, we can only analyze it. Then based on the analysis that I have done, the result is that it is possible that Bitcoin
will not come back below the $ 20k price again. The reason is that Bitcoin is now in demand by several institutions, which have bought Bitcoin
in large quantities.

Following this the Bitcoin price in recent days has been quite stable above the price of $ 30k, even today it has managed to go up to the price of
$ 33k. But the results of my analysis may not be 100% accurate, so be careful investing in Bitcoin. Always use the stop-loss feature, to anticipate
if Bitcoin price falls.

dre1982

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Quote from: EvAng3l1on on January 27, 2021, 08:26:37 PM

Quote from: pakhitheboss on December 26, 2020, 11:20:48 PM

No one can predict what will happen next with Bitcoin. Looking at the present trend and the amount of money being invested it will go up but it will also go down as there are investors who will be booking profits. But, it is hard to say where will it land when it goes into red.

True, this can be difficult to predict, as market conditions change from time to time. Sometimes we will be surprised that it has achieved the new ATH

After the first spike end 2017 we also thought it would never go back below $10k and it went way lower.

As others says, we just don't know. We just have to wait and see.

suzanne5223

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Quote from: wiss19 on January 28, 2021, 05:14:02 AM

Quote from: suzanne5223 on January 15, 2021, 08:40:17 AM

Quote from: ?? on ??

I hope bitcoin doesn't drop any deeper than $ 30k and if that happens then it is possible that a deeper dump,
and past $ 20k could happen, yup this is a bad scenario, I hope bitcoin can survive

Bitcoin not dump below the $30K was what every crypto enthusiast hope for but we need to be realistic about the market cause the January market pump came in by surprise so the market will definitely experience dump in price when we dont expect and I dont expect the dump to reach $20K price because it will market blood bath season before we can see that happen.

Well, we technically did dropped under 30k, it wasn't really that bad and it was instantly went over 31k once again, which shows you that we are doing fine, not horrible and not good neither but doing fine. That type of recovery is what we need, that way we could potentially do a lot better in the future knowing that when the price goes down to a level, we buy and go up. Obviously that level was 32k dollars and we have gone under that and eventually went even under 30k as well but recovered from there.

It good to know you follow the price of the market very well and the instant increase of the yesterday market after it dump low $30K shows that the day and arbitrage traders are the key drive in this current market but it still don't proof the market to be easy to follow for dangerous for newbie traders cause the market can switch trend for no reason.

Quote from: wiss19 on January 28, 2021, 05:14:02 AM

This tells people that the "bottom" of this run could be getting lower and lower which is a scary thought. At the end of the day if we are talking about recovery and going back over 40k, I am sure that is going to happen eventually, but how low will we get before we reach to 40k? I do not know. We could reach to 40k+ now with a good bull run, or maybe go to 20k and reach to 40k a year later, anything is possible.

This current market is hard to predict and the best thing to do is follow the trend the market provides because this is the time some group of whales or traders decided to move the market just to increase their profit.

milewilda

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Quote from: coin-investor on January 27, 2021, 10:04:27 PM

Quote from: DECABEATZ on December 26, 2020, 07:16:41 PM

Too many institutions and big money behind it now!!! Whats everyones opinion explain?BTC

Nothing is impossible we must never rule out anything, what happened last year about the pandemic is beyond our control and it could possible again, I don't rule pout the possibility, but if there's no pandemic like situation I think we are ok, I also doubt that Bitcoin will go down $20 k level I hope many institutions continue to join the market so we can see more buy then sell.

Why people are really fan of connecting pandemic into this current market prices movement? If we do try to look back then it doesnt really affect that much and to
think that we are still on the amidsts of this pandemic situation but look on where we do able to reach out? You are definitely right when you do say that we shouldnt rule out anything.
Things can happen possibly on this market moving from 30k down to 20 and down to 10 or going back into that all time low of 3k.
This market is unpredictable but basing off somehow on the level of adoption then its really hard to believe but hey, it can really changed with a glimpse.

wiss19

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Quote from: suzanne5223 on January 15, 2021, 08:40:17 AM

Quote from: ?? on ??

I hope bitcoin doesn't drop any deeper than $ 30k and if that happens then it is possible that a deeper dump,
and past $ 20k could happen, yup this is a bad scenario, I hope bitcoin can survive

Bitcoin not dump below the $30K was what every crypto enthusiast hope for but we need to be realistic about the market cause the January market pump came in by surprise so the market will definitely experience dump in price when we dont expect and I dont expect the dump to reach $20K price because it will market blood bath season before we can see that happen.

Well, we technically did dropped under 30k, it wasn't really that bad and it was instantly went over 31k once again, which shows you that we are doing fine, not horrible and not good neither but doing fine. That type of recovery is what we need, that way we could potentially do a lot better in the future knowing that when the price goes down to a level, we buy and go up. Obviously that level was 32k dollars and we have gone under that and eventually went even under 30k as well but recovered from there.

This tells people that the "bottom" of this run could be getting lower and lower which is a scary thought. At the end of the day if we are talking about recovery and going back over 40k, I am sure that is going to happen eventually, but how low will we get before we reach to 40k? I do not know. We could reach to 40k+ now with a good bull run, or maybe go to 20k and reach to 40k a year later, anything is possible.

coin-investor

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Quote from: DECABEATZ on December 26, 2020, 07:16:41 PM

Too many institutions and big money behind it now!!! Whats everyones opinion explain?BTC

Nothing is impossible we must never rule out anything, what happened last year about the pandemic is beyond our control and it could possible again, I don't rule pout the possibility, but if there's no pandemic like situation I think we are ok, I also doubt that Bitcoin will go down $20 k level I hope many institutions continue to join the market so we can see more buy then sell.

EvAng3l1on

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Quote from: pakhitheboss on December 26, 2020, 11:20:48 PM

No one can predict what will happen next with Bitcoin. Looking at the present trend and the amount of money being invested it will go up but it will also go down as there are investors who will be booking profits. But, it is hard to say where will it land when it goes into red.

True, this can be difficult to predict, as market conditions change from time to time. Sometimes we will be surprised that it has achieved the new ATH

exstasie

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Quote from: Timelord2067 on January 27, 2021, 05:36:57 PM

As I forcast at the start of the year: The pump will have stopped, people will start selling because they need cash after Christmas splurges. By March the price will have come off of the boil and institutional buyers hoping for strong gains will be facing concerning losses and so (one by one) will cash out forcing the price down.

It happens every year, maybe not as harshly as this year coming off of an ATH.

No it doesn't. Take a look at 2013. From January 1st, BTC rose every week for 3 months straight, until we finally had a massive shakeout in April. Then we had another parabolic leg higher a few months later.

In 2017, despite two harsh corrections in January and March, BTC was essentially sideways (opening and closing ~$1,000) for Q1. You know what happened next.

So the holiday and tax effects may do something, but the underlying market sentiment (i.e. whether it's a bull market or bear market) are much more important.

By all appearances this correction off $42K is just a typical bull market correction Like March or June-July 2017.

Zemomtum

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There is nothing that can not happen in the crypto space. That is how many confidently say BTC cannot go beyond 10K in 2017/2018 and here come to almost 3k. Crypto is volatile and something we need to expect the unexpectable.

Maslate

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OP, the price you are looking for might come soon, bitcoin is now diving below $30k, and what's next for that? probably $20k below.
Just be patient, it's not that bitcoin will crash but it will only dip due to a massive correction and when that happens, hopefully our mind will not change, we should still go with our plan to buy it and not panic on what could possibly happen.

just be open of every scenario as despite of the development and the hype, the market is still unpredictable and it could dump big time anytime.

carlfebz2

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If the price hadnt able to stop on such decline or price decrease movement then that would probably hitting up those low levels but to think that it wont really be that easy because
there are lots of strong supports that do wait up for people to accumulate cheaper prices so i would say that this wont really be that on fast pace dump.

Try to look at on the price, we had able to go back in 28k price but it didnt really last that long and the price had recovered on that point and now we are 31k price again.

When it comes to talk like price dips then this one will really be an eternal question on this very unpredictable market.Market can crash or go into prices that we do least expect.

Bitcoin hadnt failed to impress us when it comes to new ATH's and also with the opposite side of events too like dumps and decreasing market.

Timelord2067

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As I forcast at the start of the year: The pump will have stopped, people will start selling because they need cash after Christmas splurges. By March the price will have come off of the boil and institutional buyers hoping for strong gains will be facing concerning losses and so (one by one) will cash out forcing the price down.

It happens every year, maybe not as harshly as this year coming off of an ATH.

South Park

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Quote from: KTChampions on January 22, 2021, 06:31:19 PM

Quote from: South Park on January 22, 2021, 01:12:04 PM

While there has not been any fundamental change in the way bitcoin functions and as such we should not see any change in its price because of it, there has in fact been a fundamental change in the way people feel about the economy, because of this pandemic people have realized that governments can do whatever they want with the economy and they are getting worried that they have a lot of power and that they are abusing it, and as such they are looking for ways to protect themselves from this and many have found in bitcoin a solution to their problems.

On the one hand, you are right and it is stupid to deny the influence of the monetary policy of governments on the price of all assets, but on the other hand, there are negative aspects in such an explanation: if this whole situation had not happened, it turns out that people would still not be interested in bitcoin?

That is without a doubt a very strong possibility, but think about this way, the world was not prepared for a pandemic either and only once the pandemic appeared people began to mobilize themselves in order to try to curb its effects, it turns out that most people are reactive and not proactive by nature which means they will only deal with the situation once they have no other option but to face it, a great deal of those that invested in bitcoin before it did it for the same reason, they believe in bitcoin and its limited nature to be better than fiat currencies, they just took the step of investing in it sooner because they could see that the moment a black swan hit us the economy will suffer, and they were right, so I will not think too much about it as it is simply human nature.

KTChampions

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Quote from: South Park on January 22, 2021, 01:12:04 PM

Quote from: KTChampions on January 07, 2021, 06:00:59 PM

Unfortunately, if the influence of large companies exists, it is only in terms of speculation. In the past year, I have not heard any fundamental news about the use of bitcoin. If the ongoing growth was accompanied by the development of bitcoin as a payment system, it would be great.

While there has not been any fundamental change in the way bitcoin functions and as such we should not see any change in its price because of it, there has in fact been a fundamental change in the way people feel about the economy, because of this pandemic people have realized that governments can do whatever they want with the economy and they are getting worried that they have a lot of power and that they are abusing it, and as such they are looking for ways to protect themselves from this and many have found in bitcoin a solution to their problems.

On the one hand, you are right and it is stupid to deny the influence of the monetary policy of governments on the price of all assets, but on the other hand, there are negative aspects in such an explanation: if this whole situation had not happened, it turns out that people would still not be interested in bitcoin?

Inspiron14

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Quote from: MishaSER on January 22, 2021, 05:32:55 PM

Quote from: plr on January 09, 2021, 06:37:28 AM

Quote from: DECABEATZ on December 26, 2020, 07:16:41 PM

Too many institutions and big money behind it now!!! Whats everyones opinion explain?BTC

The crash of 2017 was because of the absence of institutions that cannot support the crash, few whales and many small investors, things are very much different now, there are many whales and institutions are coming in, and the number of small investors have also grown.

Do you think if there is strong support then Bitcoin will not fall in value? You know, the higher the price, the stronger the pain from the rate drop. There is a struggle of private investors against institutions.

If the institution you are talking about doesn't sell the Bitcoin they hold, I think the price will hold above $ 30k,
even though, today bitcoin has corrected below $ 30k but the price bounces back, of course this indicates that the support is still very strong,
so we hope that the institution will always buy Bitcoin with reason that they will sell it for $ 100k- $ 300k.

Shasha80

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If we look at the Bitcoin movement yesterday which experienced a quite deep price decline, only briefly touching the price of $ 29k. After that
it went back up to its current $ 33k price. This proves the strength of the Bitcoin support price at the price of $ 29k. So I doubt that Bitcoin will
fall below $ 20k again. Moreover, as said by the opening post, now many institutions decide to invest large amounts in Bitcoin. This makes Bitcoin
price difficult to fall, and will keep Bitcoin going up. But for Bitcoin to go higher, correction is needed. So the correction that is happening now must
occur. In order for the Bitcoin price to break the $ 41k resistance price.

Topic: I doubt Bitcoin will dip below 20k again (Read 1865 times)