Topic: I doubt Bitcoin will dip below 20k again - page 3. (Read 1847 times)

We missed that opportunity because we loss faith on ETH, but now we are seeing it pump again, it urge us to buy or tells us the words "what if".. It's not too late yet, we just have to keep learning from our experience especially out mistakes, bitcoin and ETH will both dump, we should don't know what price but we have to get them at dip as that's an investment opportunity.

There isn't a way to tell whether it will not go down that low after the bullrun is over. I never expected the price of ETH to go below $100 back 2018 actually. I was hoping to hold more than 50ETH on my account which I bought at $200. It was an unfortunate loss that after it hit $1200, it can actually dip that low. The fiat money still is given importance after all these adoptions taking place since there isn't a way to make use of the tokens in the real world.  You hold thousands of BTC and ETH but if you can't spend it offline, you are still in a terrible situation. You will still be selling them.

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.

A handful of stronger alts have performed well vs. BTC.

In general though, you're right. I believe that's happening for 2 reasons. First, BTC momentum is too strong. There has been no sustained sideways consolidation for the last few weeks, so there is immense pressure to exit alts and hold BTC. Second, I think retail has barely begun piling into the market. Everyone I talk to already thinks BTC is "too expensive" though, so when they do FOMO into the market, they'll be buying alts.

And it's getting more doubtful now as the Price arise up to 41,000$ So dropping bellow 20k is far from happening this soon.
Lets see when the Price starts to fall and when the 25,000$ becomes the Bottom then we may expect a small dip down to bellow 20k .

But Lets Just forget about that for a while ,because we are still enjoying our days with the Highest value Bitcoin ever Has.

I don't agree with it, as if it didn't happened in the past, remember bitcoin dip to $3000 when it reached at ATH of almost $20k, so that's more than 50% dump and it happen in just a very short period of time.

The volatility is too strong for the price to go below $20K, the overall market condition is very bullish the price is above $41K now thus if a pullback to occurs that means a 50% correction with I believe is unlikely and unrealistic going by the growing mass adoption and demand of bitcoin, some speculators said the is likely a replica of 2017 when the price hit ATH  based price history repeat itself the unfolding event in the present day is obviously different from that of 2017.

Just like as its affected the market when there's a hype, and FOMO happened.
Believe me, as soon as there's a bad news, this market will dump because people will panic, I hope it will not dump very low like what happened in 2018.

The ATH now is already at $40k, I like to witness how correctio would affect the price, will it dump below $20k or not?

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.

You are right. If the crypto market is not volatile then how is it crypto! But what you said is that now the big companies understand the importance of Bitcoin and they are adopting it. In the near future, bigger companies will come forward to adopt Bitcoin and that will be a huge thing.

So the situation is different now from the bull market of 2017. Demand for Bitcoin will increase in the coming days and its impact will be felt in the market.

Bitcoin is really different from before, the thing that bitcoin reaches $20k that time is because of the whales, but as of now, we cannot say that it is because of the whales only, but because there are big companies that are adopting the use of bitcoin, Paypal and Visa are one of them, that online payment system has a big impact of today's price of bitcoin, making it famous all around the world. The downfall of the price is possible since we all know that cryptocurrency is volatile in terms of its value.

Not everyone is optimistic

https://twitter.com/cryptowhale/status/1347020103121072128?s=21

Ah, this is a very good point/perspective I didn't previously consider.  Makes a lot of sense.

Most of those institutional investors are buying long term. They're not making a quick trade play. Grayscale buys and holds, they literally don't sell anything. Microstrategy put all their cash reserves into Bitcoin, which is purely a long term play. They also raised a lot of debt to buy more, but at the prices they bought in they are in no danger of being in a losing position even if we do get a solid correction in the near future. There is no being forced to sell by investors for those kinds of institutional buys. This is much more a worry for the retail market, not the institutional market, which generally is buying to hold long term, and is not going to sell just because they might not be in profit 100% of the time soon after buying. If that were the case they'd be too scared to ever invest in anything.

Altcoins have actually surged when Bitcoin goes sideways, this just happened a day ago before there was that quick drop. But you have to realize that they are perhaps surging less than you expect because its the institutions that are driving BTC up. These institutions are only in BTC (and a little bit in ETH), they are not selling Bitcoin to ride some altcoin wave. The retail market will do this, but because institutions are the one driving the market cap up now, there's gonna be a lot less altcoin surges during the times Bitcoin stops surging because the money that is driving the market isn't going to flow to other areas of the crypto market - it's just gonna stay in Bitcoin. Altcoins are becoming more risk and less reward than they used to be as Bitcoin takes a more dominant position as it now is exiting the "crypto-only" market and is entering its phase as a globally accepted asset.

What's strange about this bull run is when a pull back happens, the alts are not rising.  They're also dropping in unison.

In the past runs (I've been around), whenever bitcoin dropped, alts would rise, money stayed in the market.  It seems when bitcoin drops now, money is exiting the market to fiat.

The problem with institutional investment, ie GrayScale or MicroStrategy is that when the price dips below their average buy price, they may be forced to sell by their investors.  Institutional buying is great, but institutional selling at these levels could set off a bear market.

The recent spike to $34k and subsequent drop don't look healthy in terms of technicals.  I know technicals don't mean much with bitcoin, but I compare with bitcoin's own chart patterns historically.  This current drop coincides closely with money flowing to exchanges due to anticipation of upcoming regulations in the next few weeks. 

I predict we're due for another dip below $30k in the next few days, then the final rally of this bull run getting close to $40k (I'll know when this happens because it will coincide with Ethereum also setting an all-time high), followed by a major pull back, which will dip below $20k (within about a month or so). 

I think that overnight drop to $27.6k is very possibly the lowest we'll see from this point onward. The quick bounce back up to $30k-$33k seems indicative of the market simply not accepting prices much below $30k anymore. Too much institutional buyers eating up coins left and right, so everyone knows it is only going higher and it's very risky to sell on a price dip. $20k is just way too far away. In past bull markets I would say such a drop is very possible, but the game has changed now.

I think by the end of January we'll even be able to make the claim that the price will never dip below $30k again.

Do you think so because 20k is the previous ATH and theoretically bitcoin should not fall below it? This makes a certain sense, but on the one hand, bitcoin is very predictable over a long distance, but on the other hand, over short distances it can present any surprise, so I will not be surprised even if it return to 10k.

As long as we are open of all the possibilities, we will never be surprised.

The market has not changed, maybe we are in a bull market now, but we also have the bear season, and that will make bitcoin to drop below $20k.
That's my personal opinion only, trying to be realistic here though I really like bitcoin to pump, but knowing bitcoin's history, we should not be surprise of a big correction to come.

Im in agreeing with you that we wont see Bitcoin ever drop to below 20k again.  And i cant say I have always thought about the price like this.
Current price is around $33k there would need to be trillions pulled out of the total marketcap.  I cant see it happening really but we never know for sure.

When's grayscale gonna start buying again? In like 3 weeks or something (maybe less)? When that happens that'll be another $300 million or so taken out the market every single week. So if Bitcoin is going to have a correction here it's got about three weeks to get it done. That makes $20k seem very unlikely. Grayscale of course doesn't control the market, but it's gonna be hard to have any correction from these levels once a player that buys up 10,000 or so BTC every week rejoins the market. And you know investors who use Grayscale are going to be itching to get back to buying because in the last three days they were open for investment before they shut down at Christmas, those investors were rushing to get in as they bought about 10,000 BTC each day instead of per week!

I don't know what's going to happen rest of this month, but February is sending this thing over $40k if it ain't there already.