I doubt Bitcoin will dip below 20k again - page 4.

STT

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Heres your dip scenario which is to first fail 2 day average while closing below the prior short term top and confirming it on 4hr bars. Its not really showing signs of doing so but it is drawing closer to the 2 day average at least while we go sideways which is some indication to pay attention to all possibilities. I dont see the danger of downwards there at present, I would guess theres a better warning of major moves before it occurs, so long as you accept thousands isnt big moves any more.
So I'll call it out simply which is 4hr bar close below 30.4k would make me think something greater is up otherwise the trend is your friend which has been up for a long while. A proper pullback would be to 24k, I'd like that because I think it can rise from there while also scaring people which means profit for the brave otherwise its not that clear where are the boundaries Huh

Psynthax

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Quote from: ?? on ??

We back 2017 most of us thinks that Bitcoin is unstoppable that it will not fall because it was well known and famous already in the whole world until it falls down as low as $5,000 in which most of us lost everything like a disaster in our fortune because we are all unprepared and just relying on hope. I will not say that do not trust Bitcoin but everything is possible that the bearish might happen again anytime because the truth is no one can predict the market movement.

That's possible but the market in 2017 and in 2020-2021 as of now really different you know, back then it was mostly made up by some individuals buying bitcoin but in massive scale but now most of large corporation and investment company which are the big boys when it comes to finance like this comes to play.
They not gonna let btc go down like a waterfall.

jostorres

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Quote from: exstasie on January 03, 2021, 04:29:06 AM

Quote from: coinbiz on January 03, 2021, 02:01:31 AM

Quote from: Timelord2067 on December 31, 2020, 03:17:32 AM

As the Covid-19 pandemic has demonstrated any kind of global shock will send jitters in local economies or indeed global stock markets in this case Bitcoin itself where investors who had parked funds in crypto pulled out causing the price to collapse to sub $5,000. (Which is more likely the "real" value of Bitcoin)

This rally is a painfully obvious pump, so watch for the dump which is probably just around the corner.

I also see a crash to $5k levels. Double bottom where we hit around March 2020.

How are people so bearish right now? $5K, seriously? In your dreams!

$20K is still possible. That's an awesome knife catching level if the market goes there. But $5K or $10K? Those levels are gone forever, I'm pretty confident to say.

But if this is really how people are feeling (like BTC is about to have some apocalyptic crash) then we might just keep surging higher and $20K will be off the table too. That's the contrarian take. I noticed shorts almost doubled on Bitfinex over the past couple days as BTC pushed above $30K, which lends more credence to that theory too.

Unfortunately there are tons of people who think a crash will be inevitable, I do not agree with that, I think we will be over 5k forever, and will never see under 5k ever again, but I also agree that there could be a fall no doubt. Bitcoin is not something that goes up forever, it can't be like that because it would require limitless amount of money coming into bitcoin, however it also doesn't mean that it has to crash to 5k neither, we could be at around 20k-25k for example, that would be a "crash" because we would lose nearly half of all the market but we would still be over 20k.

The reason why those people think that 5k is possible makes sense though, because last time we peaked on 20k, we went down to 3k, so that was 7 times higher required to go back, 3k times seven means 21k, so similar mindset is 35k to 5k, because 5k times seven means 35k.

bryant.coleman

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Quote from: Kong Hey Pakboy on January 03, 2021, 07:27:12 AM

I also doubt that bitcoin's price will go down below $20K again because bitcoin is currently in the range of $34K, and more people are still buying bitcoin due to mass adoption. So I positively think that bitcoin will not go back below its $20K price, that is why I feel sorry to myself for selling most of my bitcoins too early.

Don't be sorry for selling your coins. I am someone who sold around BTC30 for $200 per coin (back in 2015). But I am happy that I still have some coins left in my wallet. Better than 98% of the world population who don't own any BTC, right? BTW, there is no guarantee that the prices won't go back to four-digits again. It has happened in the past, and it can happen in the future as well.

Kong Hey Pakboy

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I also doubt that bitcoin's price will go down below $20K again because bitcoin is currently in the range of $34K, and more people are still buying bitcoin due to mass adoption. So I positively think that bitcoin will not go back below its $20K price, that is why I feel sorry to myself for selling most of my bitcoins too early.

exstasie

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Quote from: coinbiz on January 03, 2021, 02:01:31 AM

Quote from: Timelord2067 on December 31, 2020, 03:17:32 AM

As the Covid-19 pandemic has demonstrated any kind of global shock will send jitters in local economies or indeed global stock markets in this case Bitcoin itself where investors who had parked funds in crypto pulled out causing the price to collapse to sub $5,000. (Which is more likely the "real" value of Bitcoin)

This rally is a painfully obvious pump, so watch for the dump which is probably just around the corner.

I also see a crash to $5k levels. Double bottom where we hit around March 2020.

How are people so bearish right now? $5K, seriously? In your dreams!

$20K is still possible. That's an awesome knife catching level if the market goes there. But $5K or $10K? Those levels are gone forever, I'm pretty confident to say.

But if this is really how people are feeling (like BTC is about to have some apocalyptic crash) then we might just keep surging higher and $20K will be off the table too. That's the contrarian take. I noticed shorts almost doubled on Bitfinex over the past couple days as BTC pushed above $30K, which lends more credence to that theory too.

coinbiz

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Quote from: Timelord2067 on December 31, 2020, 03:17:32 AM

As the Covid-19 pandemic has demonstrated any kind of global shock will send jitters in local economies or indeed global stock markets in this case Bitcoin itself where investors who had parked funds in crypto pulled out causing the price to collapse to sub $5,000. (Which is more likely the "real" value of Bitcoin)

This rally is a painfully obvious pump, so watch for the dump which is probably just around the corner.

I also see a crash to $5k levels. Double bottom where we hit around March 2020.

More institutional investors actually makes the crash more likely. Nasdaq, S&P 500 and Dow Jones are all at their highest levels in history right now. That US market bubble will pop, it's only a matter of time. When it does, many institutional investors will get hit hard. The first thing they'll get rid of is speculative investments.

sayaya17

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If investors want to take profit at the moment, maybe many of them sell it and take those profits, so that bitcoin can go down.
This is an opportunity for someone who wants to buy back bitcoin, even for those who do not buy at a cheap price. But indeed,
because there is currently a lot of influential intuition behind bitcoin, bitcoin will quickly recover because once they sell it,
they will buy back after taking the profit.

kolesozw

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Quote from: kolesozw on December 27, 2020, 02:07:49 AM

Quote from: DECABEATZ on December 26, 2020, 08:16:41 PM

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

While it's unlikely, it is still possible if too many people decided to cash out with the new ATH.

Yet, I expect to see Bitcoin price at $30 000, not $20 000

I'm more curious what will be Bitcoin dominance in the next month or two.

LOL, that was quick! I wrote the previous post where I'm expecting Bitcoin at $30 000 and now it's $32 500.

Looks like 2021 will be an exciting year

Branko

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Quote from: JimboToronto on December 31, 2020, 10:30:19 AM

The institutional investors who drove this rally don't panic sell. It too years for them to decide to buy. It will take years for them to sell.

Shorting is the easiest way to profit for big institutional investors. Panic sell comes after, by small fish starting to panic sell, as you pointed out

Ridwan Fauzi

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Quote from: LUCKMCFLY on December 31, 2020, 11:16:26 AM

In the Bitcoin market everything is possible, of course it can go down, but now there is a boom that many are making a lot of money, and emotions are causing more and more purchases, we may have to wait until this year ends and 2021 begins to see how the panorama will develop.

Panic selling and panic buying always happen in any market. Moreover in bitcoin market, if we late to buy when bitcoin price up then we will regret because we will already get a huge profit if we buy before the price increase and otherwise when we let our guard down because we don't know that the bull run market is over and we bought at the high price then we see how big we lose our money. But, I still think that at the early of next year will remain same, many countries will still focus on covid and the economic situation is still the same as now, so it will give a good effect for bitcoin.

LUCKMCFLY

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In the Bitcoin market everything is possible, of course it can go down, but now there is a boom that many are making a lot of money, and emotions are causing more and more purchases, we may have to wait until this year ends and 2021 begins to see how the panorama will develop.

JimboToronto

legendary

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You're never too old to think young.

It would take a 30% crash to go all the way down to $20k.

That might have happened if most of the recent rise was FOMOing retail noobs. That's not the case.

The institutional investors who drove this rally don't panic sell. It too years for them to decide to buy. It will take years for them to sell.

Yes, we might see a 30% (or greater) dip after this bull run peaks later in 2021 or in 2022 but not now when the rally has barely begun.

I agree that there's only the tiniest chance of it ever going as low as $20k and we'll most likely never see it that low again.

kentrolla

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Yes there are many chances for a dip in BTC as big shots and institutions are loading money if they start to sell in bulk then definitely it would impact the price of BTC as well as panic sell will be in extreme, right now the bullish trend is in progress and many experts predict the price may go upto 30k or more. I know speculations are always welcome and dump is an opportunity to buy let's wait and see how the Market reacts in upcoming days.

cryptomaniac_xxx

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Quote from: Timelord2067 on December 31, 2020, 03:17:32 AM

As the Covid-19 pandemic has demonstrated any kind of global shock will send jitters in local economies or indeed global stock markets in this case Bitcoin itself where investors who had parked funds in crypto pulled out causing the price to collapse to sub $5,000. (Which is more likely the "real" value of Bitcoin)

This rally is a painfully obvious pump, so watch for the dump which is probably just around the corner.

Yeah, as much as we love to see this kind of pump, sooner or later we will see the hype train stopping at some point. Nevertheless, I'm not seeing a massive dump that we just witnessed like when the news broke about covid-19. Market is maturing, investors has enough knowledge and what to expect on any price correction (BTFD).

Timelord2067

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💲🏎️💨🚓

As the Covid-19 pandemic has demonstrated any kind of global shock will send jitters in local economies or indeed global stock markets in this case Bitcoin itself where investors who had parked funds in crypto pulled out causing the price to collapse to sub $5,000. (Which is more likely the "real" value of Bitcoin)

This rally is a painfully obvious pump, so watch for the dump which is probably just around the corner.

exstasie

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Quote from: thecodebear on December 30, 2020, 03:30:06 PM

The now years-long tether theories that its all gonna come crashing down and destroy bitcoin with it have always seemed absurd.

It was like a year or two ago right that Tether confirmed they had like 75% of reserves or something like that. That of course is well short of the 100% they should have. But nobody seemed to care for too long.

It just goes to show what really matters: liquidity. Not backing, not underlying fundamentals or risks. The only thing that matters for USDT's peg is whether there are adequate dollar outflows to drive it back to $1 when it trades at a discount. As long as arbitrage is possible, the peg will hold.

Quote from: thecodebear on December 30, 2020, 03:30:06 PM

You think people are going to suddenly sell all their bitcoin just because something happens to tether?? Nope. No reason that would happen. They would just keep going along as normal, and sell into fiat or another stablecoin when they wanted to.

Actually, I think everyone would panic buy BTC and altcoins. This is what happened in April 2017 when Btifinex and Tether lost the ability to process fiat withdrawals. Everyone panic bought. You know what happened next. Wink

error08

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Quote from: Kelvinid on December 30, 2020, 06:29:10 PM

Quote from: acener on December 30, 2020, 05:03:18 PM

I also think of it that way but we couldn't be so sure after all we already seen it go to almost $20K back in 2017 but still go around $4K.
So we couldn't be so sure if it wouldn't experience a huge price drop again.

I always thought of the dump and pumps scenario as it was happening, again and again, we can't simply ignore this, honestly.

Anyway, I'm not to say that we got the deep low after this pump since we are not sure what will happen next but then, we also have to prepare for it. It is a kind of market anticipation than to be sorry later.

Going back to $15k, $10k, and the worse case below $4k. Everything can be possible as well the same as we have been surprised how it reaches to the current price.

People tend to be greedy on a bullish market when the fomo take place, projecting higher price expectations and refuse declining prices to a certain degree.
The reason bitcoin obtain all this attention started with the Pandemic, then the halving happened, afterward the government print so much money, subsequently to the dollar depreciation which causes institutional investors buying bitcoin. So, if the Pandemic end and the dollar recover and the time for investors take the profits, it will be the time for a big correction. However, we don't know how big it will be, but I would say $15k as the bottom.

24Kt

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Quote from: Kelvinid on December 30, 2020, 06:29:10 PM

Quote from: acener on December 30, 2020, 05:03:18 PM

I also think of it that way but we couldn't be so sure after all we already seen it go to almost $20K back in 2017 but still go around $4K.
So we couldn't be so sure if it wouldn't experience a huge price drop again.

I always thought of the dump and pumps scenario as it was happening, again and again, we can't simply ignore this, honestly.

Anyway, I'm not to say that we got the deep low after this pump since we are not sure what will happen next but then, we also have to prepare for it. It is a kind of market anticipation than to be sorry later.

Going back to $15k, $10k, and the worse case below $4k. Everything can be possible as well the same as we have been surprised how it reaches to the current price.

In life, everything is possible to happen. So we should really be prepared for what's to come. No one can really tell us where we are heading, we will read speculations only but at the end of the day, we are alone in this battle, the decision to our investments relies on our hands and not somebody else's. We need to be smart in choosing those decisions.

Kelvinid

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when lambo...

Quote from: acener on December 30, 2020, 05:03:18 PM

I also think of it that way but we couldn't be so sure after all we already seen it go to almost $20K back in 2017 but still go around $4K.
So we couldn't be so sure if it wouldn't experience a huge price drop again.

I always thought of the dump and pumps scenario as it was happening, again and again, we can't simply ignore this, honestly.

Anyway, I'm not to say that we got the deep low after this pump since we are not sure what will happen next but then, we also have to prepare for it. It is a kind of market anticipation than to be sorry later.

Going back to $15k, $10k, and the worse case below $4k. Everything can be possible as well the same as we have been surprised how it reaches to the current price.

Topic: I doubt Bitcoin will dip below 20k again - page 4. (Read 1847 times)