Topic: I doubt Bitcoin will dip below 20k again - page 5. (Read 1863 times)

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 also don't think such huge dip will occur at least judging from the way the market operates this time, but it is too soon to tell I guess we can only wait and watch what will happen in January, it will be the determinant of the btc price movement, meanwhile there is a guy who post in another topic he his waiting btc to go 6k to buy, definitely he can't not see that price again.

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. At the very least if it did "go down" or whatever, most of the money is there so it wouldn't be like a 100% lost event. Also there are plenty of other stablecoins that could easily be adopted to replace tether. Plus some exchanges use cash in addition to stablecoins. I don't really see the idea that tether and bitcoin are directly tied to one another - this all sounds like a stupid conspiracy theory. 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. It'd be a problem for those who are holding a bunch of tether right when it happens, but those people would likely sell tether to buy another stablecoin or even to buy bitcoin to get out of risk, thus causing Bitcoin to go up not down. I've never seen a reasonable reason that tether will destroy bitcoin, it's always just "cuz consipracy!"

The tether conspiracy theory black swan event is a big ole nothingburger.

Tether being taken down would be a blip for bitcoin. XRP and Ripple being taken down is, well, the death of those things. Doesn't make any sense to say an unrelated crypto to bitcoin would be much worse for bitcoin than XRP and Ripple being taken down would be for XRP.

There's no such thing about standard value because bitcoins price can indeed go crash into those prices on where we dont actually expect for it to happen or to go back down.

Lots had been saying wayback when we reach that 20k ath in 2017 that it is impossible to go back into those 4 digit price but it did eventually go back into that value
which did really put a big doubt and fear into this entire market.

So it will vary on what actions you would actually make on the current situation specially now that is is currently priced on 28k per coin and tending to reach 30? Seems possible.

Ever heard about

https://www.ig.com/en/trading-strategies/short-selling-explained-190121

?

The price of bitcoin isn't gonna dip below $20k. Now this has got termed to be the standard value of bitcoin. We can't come to perfect conclusion on the market price, but looking upon the growth pattern there is more growth incoming than decline. Same as this we predicted the market price of $10000 to be standard value, but the bear market took the price fall low as $3500.

Bitcoin has nothing to do with the SEC, do you know how Bitcoin was born?
Yes, Bitcoin was born from the community, and was built by the community, of course Bitcoin is the meaning of decentralization,
you have to be able to distinguish that. if you want Bitcoin to be below $ 20k, then the institution will not buy bitcoins above $ 20k. Think about that!

What do you mean by "real stable coin"? For it to be real, Bitfinex should have 20 billion USD deposited somewhere. You really buy that as a fact?

They could not prove even holding 700m 3 years ago

https://www.coindesk.com/tether-bitfinex-market-manipulation-class-action

whats the connect of btc to tether ? and tether wont be next because tether was the real stable coin that is been opened legally but xrp have illegalities even right at the start .

 is the btc that needs to be involved in sec issue before you say thay its price will drop below 3k but then again that wont also possibly happen , it was already explained in the past but to the op's question i think that was even more possible because we arent far yet from what we have now .

below $3k if SEC goes after tether

XRP troubles will look like childs play

Big level there. It's the point of control in this rally's volume profile:



So ideally we'll actually get a flush below it. Here's why: I'm a believer in gap fill theory (more so for volume profiles than price gaps in limited hour markets), and also max pain theory. The market is very long right now, with swap funding rates holding in the 0.05-0.1% range. Bitmex March contract is trading at a 4% premium to spot. Based on the volume profile, bulls will be praying for that POC to hold. A flush below it would therefore cause a very painful stop run, squeezing out and/or liquidating leveraged longs and weak hands after the highest volume level in the rally is lost. That's maximum pain, and it would be the ideal reset to propel BTC into the next stage of the bubble.

Historically, the maximum downside is ~42% in this market context. 40-42% would be an epic knife catching level, if we get there. This also coincides with a ~0.618 retracement, which would match my theory that we are in a nested 1-2 i-ii count. More on that later in my analysis thread. Zooming in, I think a stop run below the December 10th low (~$17.6K, the orange arrow) would create the perfect bearish/skeptical narrative to propel the bull market forward.

Just an idea.

Hopefully, that price will not happen unless there are flash drops happen to the market. But if we see the market, bitcoin price is at the bullish trend now, and although we see the price was down yesterday, the price is going strong again this day. The bitcoin price will be at another high price in the next year and will help us make our dream come true. If you want to buy bitcoin, you need to find a good time to buy, especially if there are drops like yesterday, so now you can see your money value will be back to increase.

Hard to say, really. 12-month runs seem like a blip when you've seen one cyclical rally already (though the correction afterwards does seem to purge the memory for a lot of people it seems, no matter how long they've been "in the game".

Oh and yeah, 50% corrections? More than possible with Bitcoin, we all know that, but it won't happen in 24 hours again (will it?). Was bad enough to see at 10k, would be catastrophic at 100k.

Well for companies like MicroStrategy (not sure if we can call them whales or manipulators), their motive is simply, buy as much as they can because bitcoin for them is a hedge for their treasury assets.

That's why it's really hard to manipulate bitcoin now because of so many players who has their own profit. Of course the market is very unpredictable, but then again the bitcoin narrative has change. Institution positions has shifted, so conditions is ripe for a bull run next year.

as we dont know the motives of these whales and institutions, we are blind for what may happen next in case they made their decision to what will happen to their holdings. crypto market is very unpredictable so as a crypto holder, one should have their plans ready at any given moment of time.
trust your instincts and dont rely from naysayers. even so-called experts are not to be taken seriously. if youve been long enough in this industry, you know what to do already.

I'm not ruling it out anything is possible in a highly volatile market and we have history to prove that, even if there are many institutions or whales coming and buying there are also whales and institutions that are selling for profit, so always expect the unexpected.

The market of bitcoin getting dipped isn't a big thing. When we're trading with the cryto people might find it new. Anything new to the common man's eye gets examined. So, through this process people get to know much about bitcoin. Here the market falling below $20k needs to be taken to the family head. As per different experts prediction it is mentioned, we'll experience more growth than decline in the falling month.

The question is, they would able to forget it out in a 12 month run? I cant really blame off on why would they really have that kind of doubts towards the price.
When it comes to correction then this isnt something surprising because it can really correct way more than on the percentage that you had mentioned.

I never ever believed or tell myself that it cant really be crashing that hard and 25% isnt really something that cant be attained in a short span of time
if majority will really be deciding on releasing off their bags but as said there is really a lots of people who have been waiting for that certain period of time.

Like forever? Don't play yourself mate anything is possible, there might be a massive sell off in the future for some unknown reasons just like how things happened in March - April 2020, always expect future dumps because bitcoin isn't ever going to be stable like Fiat or stable coins

You are forgetting that we started the year at around 7k as well, so "lowest of 6-7k" is unrealistic to think about when you start the year at 7k already, how could the start of the year would be he lowest of the year? When we reached to about 9k dollars, there was a pandemic crash in everything, and not just fiat neither, from gold to silver to oil and of course to crypto everything crashed.

This is what we were not expecting and price obviously dropped to 3.6k or so levels, not because it was anything bad about crypto but because the world was on fire. Obviously we recovered very well and now doing a lot awesome but that doesn't mean that with any crash we can still go under 4k, it just means that we were way too close back when the year started, so it wasn't really a shock to get to 3.5k, if we have another crash, I doubt it will get there again because we are further away this time around.