It is possible but for if that really happened then it can be a sign that the trend is already exhausted, Institutions who bought bitcoin are usually will do their investment in long term where it only means that they will not easily let go their position because of the timeframe that they are using. The dip at $20,000 is possible but that dip is a deep retracement which indicate weakness. I'm looking forward to see retracement at $22,200 because there are convergence there of the previous support and the 50% Fibonacci retracement. $20,000 is too deep for me and we should just expect shallow retracement for us to see that the trend is not yet exhausted and there is a high chance that a rally may continue again.
Institutions all over the world are now becoming interested to bitcoin and for me there are still a big move that may happen after they put some of their investment in bitcoin. I'm looking forward to see big businesses also to put some of their portfolio in bitcoin and there is a big chance that it may cause another price surge.
Topic: I doubt Bitcoin will dip below 20k again - page 9. (Read 1863 times)
Most likely, the biggest difference we have now compared to few years ago (after Bitcoin dipped from 1,200 to 750): now, much more institutional investors are in and they are investing long-term and avoiding less short-term speculation. Maybe at some point, the'll also take profits but I'm not so sure if it'll have a big impact.
A dip from 1,200 to 750, how it happened few years ago, would now mean, Bitcoin would dip from 26k to 17k again, very unlikely. In addition, Bitcoin price dipped imediately last time when reaching the last ATH from 2014. Right now, we are already well above the last ATH (20k). Bitcoin is much more bullish than last time.
I would not speculate to hope for a big dip. People have waited for it since 22k, since 24k and since 25k and no dip happened.
News coverage about Bitcoin is positive in general, sometimes very bullish.
Here's a good list of people and recent investments supporting BTC this year: https://www.forbes.com/sites/michaeldelcastillo/2020/12/26/forbes-cryptocurrency-awards-2020-the-3-trillion-bitcoin-marketing-campaign/?sh=aaf173e184e4
And also "supported" by the Fed.
A dip from 1,200 to 750, how it happened few years ago, would now mean, Bitcoin would dip from 26k to 17k again, very unlikely. In addition, Bitcoin price dipped imediately last time when reaching the last ATH from 2014. Right now, we are already well above the last ATH (20k). Bitcoin is much more bullish than last time.
I would not speculate to hope for a big dip. People have waited for it since 22k, since 24k and since 25k and no dip happened.
News coverage about Bitcoin is positive in general, sometimes very bullish.
Here's a good list of people and recent investments supporting BTC this year: https://www.forbes.com/sites/michaeldelcastillo/2020/12/26/forbes-cryptocurrency-awards-2020-the-3-trillion-bitcoin-marketing-campaign/?sh=aaf173e184e4
And also "supported" by the Fed.
With the price of 26K$ it is possible people will cash out but i don't think it will go below 20k$ because it will have a price correction just a little and after it will steadily to it's current price right now. I have high hopes that bitcoin will go stronger this coming 2021 and more adoption will be in the way as well.
Too many institutions and big money behind it now!!! Whats everyones opinion explain?BTC
Anything is possible. I can see bitcoin dipping below $20k for one last time anytime next year, but will immediately recover above $20k and will continue to rise from that time going forward. But there's some weird things happened these past few days including that incident wherein it went over $320k in Livecoin exchange due to "carefully planned attacks on their server, backend, and nodes" as described in one article. I just hope that this incident doesn't affect the reputation of Bitcoin as a cryptocurrency (if you know what I mean). I just wished I continued working with cryptocurrency. 
I'm conflicted. Significant portions of my investments were cashed out pre 19K levels and I was hoping for a drop so I can buy it back but at the same time, a drop wouldn't be good for the rest of my Bitcoins as well. I've been expecting a correction since 22K but it never came. Oh well, HODL and hope Bitcoin goes to the moon.
I agree that due to the reason that there's significant money from institutional investors, that a drop in price would most likely be less dramatic as what we had in 2017-2018 simply due to them being less likely to be affected by FUD and panic(compared to most of retail investors). But still, to go below 20k all we need is a 30% drop, which is always always possible.
A dip below 20k could be unlikely now (a safer bet would be around the 15k) level. A lot of institutions were or already have been in it. They mightve only announced it by now because we look more bullish (although I'm not sure if they have to declare it within a certain amount of time).
It's probably important to note that regardless of this, retail still moves a lot of economic power and price and so there probanly will still be a crash at some point (after a very strong rally).
It's probably important to note that regardless of this, retail still moves a lot of economic power and price and so there probanly will still be a crash at some point (after a very strong rally).
Too many institutions and big money behind it now!!! Whats everyones opinion explain?BTC
Jump to: