Topic: I doubt Bitcoin will dip below 20k again - page 7. (Read 1863 times)

Sometimes bitcoin can’t be predicted and planned. before bitcoin was at such a high price now, many predicted it would only
break  through $14K until  the  end  of  December,  but bitcoin  could break  through more at $20K,  even today it is already
at $26,405. We never expected this before. So anything can happen, it could correct bitcoin to $20K, but it will recover again.

The next bitcoin price correction and dump below 20k would surprise everyone including the big insttituion you have mentioned just as the rise in price has been beating expectations. Whatever goes up will come down *according to physics* lol, but as an investor it is up to you to make the right decisions each time in hodling, buying and taking profits.

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.

We can never now for sure. A drop right now will Bitcoin look bad after this rally that he started and more likely it won't stop and the drop it won't happen. We can speculate around this question and we can think that at some point, Bitcoin will drop again ( which it will ) but can it really drop so hard to be again under 20k$ ? I personally doubt it. However, on a 2nd plan we can think that Bitcoin could make a BIG correction out of nowhere and go for a flash drop under 20k$ but it won't stay there more than a couple of minutes if this happens.

When it comes to predictions like that I like to be very conservative, who actually thought that we will be close to touch the 30k level at the end of this year, not many so while it may seem inconceivable that the market is going to go down to the 20k levels or even below it we must not underestimate how fast the market and the circumstances can change.

Most likely institutional investors came earlier than what we think and the price at which they bought their coins is way lower than what we believe so if at some point they need cash reserves you can be sure they will begin to sell because unlike us they do no have any kind of ideological attachment to bitcoin and if that happens the crash that we may see could be way larger than anything we may expect.

Bitcoin is at its peak till date and even I don't think there will be any drop below $20k atleast for couple of weeks but still cannot guarantee as its just my opinion and it's hard to predict anything since Bitcoin and crypto are highly volatile. As the moment bitcoin is receiving so many new investment from institutions and new players who could invest in the past or missed last bullrun. I don't think we will see Bitcoin below $20k anytime sooner.

I don't think there's too many people who still think Bitcoin is going to take over all world currencies. That dream of early bitcoin maximalists has clearly been dead for numerous years. A global reserve currency is it's likely place in the world, but it's not going to be the currency things are priced with anywhere.

Right now it's institutional dollars that are driving the market upwards, it isn't the usual boom bust scenario of your average main street consumer jumping on the bandwagon, though of course there is a little bit of that its just not what is driving the price upwards. The hundreds of millions of dollars of weekly buys that are being taken of the market and put into long term storage by institutional investors is what is mostly driving the price gain this Fall. Still, traders and profit takers on exchanges certainly have the ability to drop the price a considerable amount in the short term, it's just that all those bitcoin dropped bitcoin would get eaten up by $100 million dollar buys from institutions in a manner of weeks.

Maybe it's too soon to be able to say something like this. indeed there are many big parties who are now starting to invest in bitcoin, but there are also still many people who disagree with investing in bitcoin. besides that, bitcoin is still not fully accepted by people in certain countries. maybe the correction will be around the price of $10k-15k but i'm not really sure about that, for now let's just enjoy the bulls that are currently happening, if you manage to buy btc at the price of $5k congratulations you have very much profit

We're out of hours now and the price moved a giant amount, can we say its institutional investors that are attributable to the price action being so bullish.  I think its the usual boom bust scenario of people jumping on a band wagon to hold an asset they dont want to use especially (now) but want to gain from.   Iam always going to believe our actual correct pricing revolves more around the ongoing usage case for Bitcoin, I really dislike the dream floated of Bitcoin being the only currency in the world or even taking over from the dollar.   I think thats delusional and makes me think we just reverse price gains if people dont accept lesser ambitions.
   So as you said yourself miniature correction, on a small time scale I agree its quickly resolving upwards.   The true bulk of BTC is working from weekly bars not the lesser time frames we try to observe a good time to enter and profit from trades.    So I think it takes more then just a high price to remove the possibility of profit taking, Im making a hard case for myself here as we are so positive I just dont like people kidding themselves we are always going to be trending up as its not been that way previous.   Its always a set of cycles on varying time frames and each wider bar is more powerful then the quicker movements below, so daily and weekly are the smallest important areas we must prove strength by; also monthly and quarterly moves are relevant imo.




So a graph is better then words and maybe, looking at 26879 as a good rung to hold us in positive price action as the best guide I find myself with as I cant easily guess where we go only to best notice when we are about to stop

I'm expecting a correction in January...but then again I've been expecting a correction since it hit high $15,000s haha.

But seriously, probable short term correction is inbound. 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. If that is true then that'll be the one chance Bitcoin has to have some time for a correction to under $20k, since like a couple hundred million dollars of buys would disappear from the market for a few weeks.

In less than two weeks it has gone from $19k to $28k, and in the two months before that it went from $10k to $19k. I could see Bitcoin head back down to low $20k's in January, maybe even a quick drop down to like $18k for lucky people to pick up some over-sold BTC and then a spike back up to low $20k's. Don't think it will take that long to recover though, considering the inflows from institutional investors. If BTC doesn't hit $30k before a correction, I think it'll still be back up and surpass $30k probably in March.


But for sure I don't think Bitcoin will ever again spend any reasonable amount of time below $20k. At most I could see a quick dip under $20k for like one day or something, and if it is going to happen it will probably need to happen in the next month.

I believe so. many institutions & big whales are behind it as they see btc as oppourtunity.that's the reason bitcoin still increasing when it should go below after hit $20k/$22k but acceptance of big company helps bitcoin to raise more.i also doubt btc could dump anytime cause now its like a game & anything can be happened.but institutions can't start panic sell like others, they will have taken decision wisely.so i think btc wouldn't dump more than $20k level

I heard some instutional/companies are trying to invest their money into bitcoin now, more than that there will be many people who will not see bitcoin negatively anymore since its ability to show a good movement in the crisis which happening in almost all country. Those things will not make bitcoin dump as the previously bull run exactly at 2017 ago, it is really different now. Even, after the crisis is over bitcoin will show a good movement, it is cosidered as gold I guess.

The Bitcoin price has be surprising to all and this will definitely bring about some correction along the line but for this trend(price of Bitcoin) to continue like this could bring no dip bellow $20k (even at the 30% dip). The $15k dip in my opinion cannot be said to happen becasue we now have institutional investors flowing into Bitcoin investment and their staying will be on a long-term.

It definitely can reach to those levels, I am not saying it WILL reach to those levels but 20k is not really that far away from us right now so I could say it could drop under 20k with one big bear run and that would be the end of it. Obviously we can talk about 10k nowadays, when bitcoin crashed a lot, it actually went under 10k and it became like 4k and under, it happened just this year as well, in 2020, we have reached a bottom of yearly low at 3.8k or so, which means it was easy for bitcoin to reach to those levels, and we have seen those prices a lot more frequently as well.

I hope that we are not going to go down to under 10k ever again, that Is my hope, and I really want to see bitcoin always stay above 15k+ price, that would be a lot better for us in the future, when we have a huge crash it reverses all the gains we have made in crypto.

After today's little $2k mini-correction, the likelihood of a major correction before $30k is diminishing... and thus the chance of ever going below $20k is getting less and less.

That combined with institutional adoption points to sub-$20k prices as being extremely unlikely. Institutional investors don't panic-sell or "take profits" willy-nilly like retail speculators.

There will be a correction for sure, just like what happen in 2017 ATH, correction will be there hopefully it will not fall less than 20k but chances is that it's still fall that price in some time and will recover again since there are still many adoption that can happen in crypto and to be able to implement it more BTC is needed to try by many.

As people thought the pump is getting weak the retail investors thought they need to push more higher. I think they consider the extent of price the coin might drop from there and thats the reason for the little push to stay close to $20k, either below or above when the correction comes. It is totally different from previous because on the high size of fund, institutions involved and the crazy scarcity created.

I agree with you but not forever, maybe in the future there will be a correction, for now it might be difficult because the trend looks to continue to grow until the end of the year.
the market will look healthier if there is a correction at the end of the year and move on to the next altseason.

at the current price of $27,4k if a major correction occurs, say 30%-35%, then the price will fall below $20k.
Bitcoin still on the bull run, but when the time comes, there should be a correction at some point, we don't know for sure if some bitcoin whales will dump bitcoin when it reaches $30k which cause a panic sell for retail investors dan traders, and miners are one of the whales out there. What if some of the institutional investors planning to take profits as well? Although we don't know precisely what their plans are, we just need to be prepared for anything that might happen.

There's likely to be a possibility from where we are down to $20k becasue as you said institutional investors has taken into Bitcoin to make their investment which also mean that, those institutions won't make their investment on short-term but long-term. Well, this dip would have be earlier before now but the reason the price continues the reasons we might see some drop bellow 30% IMO.