Topic: I doubt Bitcoin will dip below 20k again - page 2. (Read 1847 times)

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.

They keep on printing Tether and i always wonder when this will end. In the last rally even though i had my worries i was holding the profit in Tether as it was the only coin with volatility but now there are many options to hold the coins and most probably i will be holding in fiat until i decide to invest again as you never know when the SEC will produce a lawsuit against them.

This is the wild west of bitcoin market and if they price could rally from $20k to $40k in a matter of few days then it is possible that the market could dip below $20k.

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.

It will be OK, another 2 billion Tether printed to sustain this bull run

Well .. it did drop to $29,500 a few hours ago so sub $30,000 is definitely possible and people shouldn't discount drops even further such as sub $20,000 that this threads title suggests.

People will see an opportunity elsewhere and bail out. It happens, just be prepared for the drop.

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.

Some other threads are calling a correction at the end of March which would make sense given those who have come in during the end of year run will probably be reaching for the smelling salts in about a month's time when they beging to wonder why BTC hasn't gone up to $60k or higher.

In six weeks time I envisage early dumps will start, then by mid March people will see the slump for what it is and drive the price down as they recoup their losses.

(And yes, down sub $20k)

You've got to admit it's been quite a meteoric rise in price since November 2019 when the price had come off of the boil in about April/May of the same year. The price charts for the last three years makes this Moon Shot look like a cliff. You may find during the next few months the ask price is unsustainable when people want to buy BTC to make transactions with it slowly pushing the price back down as new coins are minted (don't forget those miners have overheads to cover).

When the price continues to hit highs at least it will convince most people who believe in bitcoin to believe about the same, even if the price keeps falling at least I'm sure the price will still struggle in the 20k-30k range and maybe that's what will happen later. But if the price can reach the predicted 50k or even higher, maybe the bottom will just continue to struggle above 30k and that is a very extraordinary achievement.

You realize $30k is $10k higher than $20k right? The correction would need to DOUBLE from the current bottom to hit $20k. Extremely unlikely to happen. I wouldn't be surprised if $30k was the bottom, maybe at lowest the $27k the last bear trap went to. And a correction from $41k to $30k isn't surprising at all.

Institutions are made up of people sure, people who probably spent months having meetings and analyzing the market before deciding to buy in long term. They're not gonna sell a few weeks later for what they planned to be a 5 or 10 year investment. There is probably a small percentage of institutions that are looking for a quick trade and will get in and out depending on the market short term moves. But most are looking to keep their wealth safe and are buying long term.

I'm gonna say LOL to the person saying it'll drop to $20k just because it hit $30k lol

Price will probably be over $40k again by Feb 1st haha and hit $50k by end of Feb.
I'm seeing articles popping up the past 24hrs saying this is the end of the bull market haha, or saying bitcoin will go to zero now, or saying investors could lose all their money now. Bitcoin bears are proven wrong every single time, but as soon as they see a red candle they think they were right all along haha! I feel bad for anyone selling now that isn't able to get back in lower. Bitcoin moving from weak hands to strong hands right now as the market establishes a floor probably around ~$30k.

It's not about emotions, it's just that ordinary investors are too optimistic and think that institutional investors will help them. In fact, the interest of an institutional investor may be to lower the price to 5 thousand and make purchases (from weak hands) in that range, and get a profit in general after 3 years.

LOL at all the people saying below $20k isn't going to happen because of institutions.  We're about to hit below $30k any moment now.  Institutions are made up of people.  People still trade on emotions. 

Below 20k is indeed far from happening ..

But we may experience 20,000 level again , as of this moment we are 4k to go before tasting 20k level once more .

And if this is our Correction , then i will be very glad.

Everything happens so quick now, huge pump within two weeks and now this, I have a feeling that whales are enticing investors to dump so they can buy cheap again, I don't see any bad news that makes the market bleed like this, I expect the market to get up again, it's just a manipulation, let's see how it play out in the coming days and weeks.

Bitcoin has a huge dump today, if this will go down $20k+ then we can say that $20k and below is possible.

Think of this, it's high was $40k+, now dump had a low of $32k+ and this might continue.
When the market is bleeding and bearish, everything is possible.

status for today.

If there is a big call for dollars then all sources sellable into dollar will be under pressure, hence sub 20k.   It would be ignorant to think price merely is a result of internal changes in BTC but also in the denomination its traded in, weaker dollar has some effect on higher price.  If thats the case then the tide of liquidity can as easily withdraw as it has advanced; at least short term this is the case.

It is true that now too many institutions are investing in Bitcoin, apart from making the price of Bitcoin skyrocket. This makes Bitcoin more stable
and less likely to collapse, as happened in 2017. Because institutions are usually invested in the long term and not to pump and dump, so agree
if Bitcoin is very small possibility will drop below the price of $ 20,000 again.

At that time it was easy to lose faith in ETH, I remember this time very well - after a time of euphoria, a depression came - 99.9% of ICO turned out to be a scam and investors threw off any assets at any price. I was optimistic until the very end, but I was forced to sell part of the ETH savings due to the fact that money was required for everyday expenses.

I wouldn't be so sure about it right now. I am one of those people who say under 20k is a tough call and would probably not happen, but I am not saying it is far from happening neither, it all depends on the market situation.

If the market suddenly believes it is going down, and people start selling, going under 20k wouldn't be that impossible, it would take at most a week for it to go there if the market wanted and sold accordingly. We have reached from 20k to 40k levels, literally double the previous ATH, in just one month, so it wouldn't be a shock to go back under 20k with basically no support lines worthy to hold the price above.

I believe we are not looking like we are going to drop right now, but we are not looking like we are going to be doing that bad neither. We are definitely at a place where we could probably get away with 50k to 60k right now.

You cant blame out people on not to have those doubts because we are seeing  that bitcoin does only have some serious price rally and not on alts.
So its not a bad presumptions on not to take action toward ETH.

In the time that we do still see ETH in 700+ then lots had speculated if it would go to its ATH again but not all have considered on making such step for them to buy while
its still on that price point.

Its an another missed opportunity for someone who haven't risked out on that time.