I doubt Bitcoin will dip below 20k again - page 6.

wheelz1200

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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

Honestly anything is possible with price. I dont think it will dip under but I've been in too long to not realize a dip to even $10k wouldn't shock me. This time could be different but bitckin has always retraced at some point.

buwaytress

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Nah, would be too good to be true to never again see sub 20k BTC. People need to get their rocks up from selling, and then there's probably enough big orders waiting to trigger around 19k.

Seeing BTC losing 25% of its price even in 24 hours doesn't seem unlikely. That may all change if Bitcoin somehow shrugs past 30k and then spends loads of time above 50k, but it'd need to be at least 12 months high above 20k before people forget about 2017 ATH and it becomes a footnote in that all-time chart.

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Past experience teaches us that everything is possible when it comes to Bitcoin. We also know that volatility is natural part of Bitcoin functioning.
I remember back in 2017 that many though the same, price can't get low anymore and we all know what happened after.
To my opinion Bitcoin will fall under 20000$ again but no one can't say for sure and that doesn't mean that the price will stay low. How deep volatility might go it's hard to predict.

blckhawk

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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

No one really knows because anything can happen with Bitcoin. Not sure if it will not drop below $20k though. Anyway, I also believe that Bitcoin will not plummet as we had before 2018 because the growth is now stronger and firm due to the massive adoption of institutions and big companies not by FUD. Perhaps it will drop around $15k but I don't think it will go lower beyond $10k. One thing is for sure this time it would be a lot different but still we must not let our guard down and be aware all the time.

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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

Bitcoin going down to 20k again has a very low chance as of now and now that we've seen different institutions coming in and investing into it, I doubt that it will happen.

Well, if Bitcoin will go to 20k again then I will be happy to accumulate more Cheesy

. I've watched a video on Youtube saying that the last time Bitcoin will reach the $10,000 price will be the last time that it will dip to that price and it seems that it is true since we are far from that price already. I'm not saying that Bitcoin will not dip to $20,000 again since anything can happen. Just hold some cash in case worst case scenario happens

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magneto

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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

We're simply following a long term growth trend of BTC price that closely follows adoption both on the grassroots and institutional level.

I don't think that it is necessarily guaranteed that $20k will become some sort of impenetrable support level - that is simply not how market dynamics work. The same has been said about the $10k support after the 2017 bull run, but as we've seen with the flash crash during the pandemic, short term markets are simply unpredictable and even previously thought support levels of $4k and $6k had been breached simply due to irrational actors.

I'm a long term BTC bull and the recent influx of institutional assets certainly furthers BTC's case as a global reserve currency and anchor between financial institutions for settlement purposes and storing value, but I would bet that $20k is not some concrete support and will be breached in a market downturn - rational or not.

Phoenix_PROG

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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

Who knew that bitcoin could ever taste the 3500$ price target this year again? I thought the lowest price of Bitcoin this year would be around 7k or 6k, But still 3500$ happened in March 2020 doesn't? Trying to predict what could happen in future is a waste of time, tomorrow isn't even certain

Smitty Werben Man Jensen

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anything can happen, for now it's not, because the bullish signal is still very strong for bitcoin,
if someone hopes to get back below $ 20k, bitcoin must have fud.

SquallLeonhart

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Maybe it won't reach today, but we still don't know what would happen in a crash, we are all considering bitcoin to be going up constantly but we are not going to have that kind of increase forever. I am not saying bitcoin will be low and go down and stay there, I am a bullish person as well and I support that bitcoin will always be higher in the long run, even if we crash from this price, we are going to be above 30k either in a week or in a decade but we will be there, there is no doubt in my mind and that is why I put my money into bitcoin.

However this doesn't change the fact that there are crashes here and there time to time and I believe on the next crash we could still see under 20k, god knows maybe under 10k as well. We just need to make sure that we do not make it drop to under 10k, because under 20k could be saved, somewhere around 17k or so became this price in a month, but going under 10k would hurt a lot more.

ene1980

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Quote from: Fredomago on December 28, 2020, 12:33:03 PM

We all witness how Bitcoin dropped and experienced huge downfall, though there's big difference from how that last bull take place
from how we are seeing now, there are serious businesses who begin to adopt this system and the rise is not just artificial but
Companies are embracing this chain.

The current rally in bitcoin is helped by companies who are willing to invest heavily and so is the reason we are seeing a huge rally and usually during holiday season the market usually settles down and the rally would restart after the vacation but this time around it is completely different and the only way we would see a major correction during this phase of the market is when the regulators come up with something that could affect the market which is highly likely.

Fredomago

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Quote from: cabron on December 28, 2020, 11:09:46 AM

You really can't tell whats going to happen next, crypto is very unpredictable.

Indeed! there's no clear direction as day short term traders can quickly cashout their earnings and dump will surely follow

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I would have thought about BTC not dipping below 5k when its prices hit the all time high at 20k. but it did.

We all witness how Bitcoin dropped and experienced huge downfall, though there's big difference from how that last bull take place
from how we are seeing now, there are serious businesses who begin to adopt this system and the rise is not just artificial but
Companies are embracing this chain.

Quote

Not going below 20k is just what we hope not to happen. In reality, it could. The higher it goes up, the deeper it will dive.

We just need to prepare ourself, if this value still have the possibilities, adjusting to situation is really need to take place.

STT

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Its not the price alone that is the danger its the nature of the elevation and who holds it, speculative froth to put it succinctly. Froth is not substance at all, we can clear the top of a skyscraper and then return to street level. I dont know how much of that fast money is in the price but its inevitable when we rise this much that people are just taking a gamble they will reverse on.

So we're risen into the middle of nowhere but usefully the 2 day average is fast enough to keep up and underlines the lows recently. The correct range or normal for daily trend would be the lower 20k's for price, we've gone far past that moving faster over time. What I'd expect to happen is we move fastest when closest to the top so the pace puts us off the road eventually.
The candle or price action for Sunday was bearish, a sell off like that usually has an impact but also a Sunday jolt into Monday open is slightly predictable and perhaps the momentum ignores this fault now. At some point selling like this will matter again, the price likely over reacts in both directions hence below 20k seems probable to me but I've heard traders say we're done with that now.

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as Joe Granville said "what's obvious is obviously wrong"

cabron

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You really can't tell whats going to happen next, crypto is very unpredictable. I would have thought about BTC not dipping below 5k when its prices hit the all time high at 20k. but it did.

Not going below 20k is just what we hope not to happen. In reality, it could. The higher it goes up, the deeper it will dive.

freedomgo

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Quote from: ?? on ??

Even if we do not want to see bitcoin drop to $20k, but if the price really down to that price, we should follow it and never sad because that is our opportunity to buy more bitcoin while the price drops. It will difficult to see the price will drop to that price in the future, especially if the price is fly high to more than $50k. Maybe we will see a flash dump that will come shortly, so it is better to prepare for the worst thing that can happen.

Bitcoin can go down anytime when the hype is over, as if we didn't see the history of bitcoin, we should be realistic here to see what is coming. No way for bitcoin to just continue to rise and amaze us, remember the bigger it rises, the harder it fall. Not believing that bitcoin will not anymore fall below $20,000 is alright, we have our own opinion based on what we see, and we can only find out if things would already happen.

palle11

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It is really not sure that bitcoin will drop back to $20,000. Although that after 2017, bitcoin later started to drop but at that time there are fewer adopters or big traders like institutional buyers. Currently with what price increase we are seeing, we know that big buyers are buying and selling while price touching at $28,000. However, below 20,000 is a good spot for buy.

zeingrind777

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Today bitcoin has reached $ 27K and briefly reached the price of $ 28K +. It is highly unlikely that it will drop to $ 20K this week. In my opinion, the bitcoin price will continue to grow to over $ 30K in early 2021.

Inkdull

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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

Bitcoin can still go down below 20k mate, I heard that the covid is back in the UK, even in my country some are fighting for their lives as we speak, some have already named the covid 2.0, now I don't even know what we will face in 2021 again, the demand to stay alive can still force investors to sell their bitcoin

Yamifoud

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You can't play such doubt because you are also doubting that Bitcoin price will reach @20k plus. We have to keep in our mind that everything can be possible in crypto. Does anyone is expecting that Bitcoin will have this new ATH despite the pandemic situation? Maybe there is but only a few and that only those merchants believing that it grow because they saw how it becomes vital in this situation.

As the pandemic isn't over yet, we have to expect more market rally than of dumps scenario but couldn't hold as well if we got back to normal and the said $20k below will probably what we saw if people started to use more fiat back again.

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Quote from: dunfida on December 27, 2020, 03:43:24 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

Isnt that adoption is all we need and do hope for? We are aiming for that and it cant be avoided that institutional money will flow into this market.
I know on whats up into your mind on why you do worry too much because majority of those big players do own btc that much? Well you do have the
point but they wouldnt really easily release off those coins and make out conversions in a short span of time and as a natural behavior or old investors
came from those traditional businesses and sectors then you would really be assuming that they will stay for a little while and wait up until everything is ripe
before selling out.

these investors will monitor the pulse of the market. and if they see that crypto adoption is still increasing, i dont think they will just sell off their share in the market. the probability of going up is still there. and as long as adoption is active, more merchants accepting crypto, and noncrypto users converting themselves to crypto enthusiasts, then the increase in price is always on the horizon. the possibility of going down to 20k again may happen but it will bounce back again. the adoption this time is different.

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Quote from: thecodebear on December 27, 2020, 01:44:57 PM

I wanna say Grayscale won't be buying during January, though I'm a little confused about their buying schedule. I believe they stop buying for a few weeks every 6 months when their lock-out period ends for investors who bought during those 6 months. But I read they had already stopped buying bitcoin like 7-10 ago but then a few days later saw that they had just bought like 12k bitcoin in the previous day, so I think maybe the first report was perhaps referring to them getting ready to stop buying soon (like in january). I also read some article yesterday that said the writer expects Bitcoin to correct between like Dec 29 and Feb 3 or something like that because that is the period between when Grayscale's lock-out period ends and the next one begins, presumably meaning they won't be taking on any more investments during that time.

I was under the impression that they open offers for private placement whenever there is demand for it. A lockout period ending just means previously issued GBTC shares can be sold on the open market by investors. Why would that stop Grayscale from placing new shares?

The author was probably implying that the lockout period ending means GBTC shares will get dumped on the market. Whoever bought 6 months ago at NAV is sitting on huge profits, not to mention the huge premium on top.

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