When The Inevitable Happens With The Dump - What Will Bitcoin Be Worth?

JollyGood

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It will be a big hit for many to that if they lose 70-85% of the value of Bitcoin when the eventual crash happens. The image by qwizzie was a great visual take on how things can take a turn and the time it takes to reach all time highs.

Quote from: abel1337 on January 19, 2021, 05:23:26 PM

Quote from: JollyGood on January 19, 2021, 02:42:09 PM

Quote from: qwizzie on January 19, 2021, 10:12:54 AM

Going by what is in the image, things are going to be big when the collapse happens.

For those that purchased Bitcoin at $40,000, if an 80% hit was to be taken then it means losing $32,000 and being left with just $8,000

I wonder how many people will end up destitute and how many will end up struggling. Buying and selling at the right time is what makes a successful trader, unfortunately too many people buy when the wave is high then discover during the crash they lost almost everything.

History repeats itself and dropping more than 80% is very possible. This is why we should know how the market moves and find the right time to buy and to sell our assets. I remember those who are new to crypto in the year 2017 who get caught by the crash, I hope that if they are still into crypto right now they know what to do when the correction comes.

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Quote from: FireBallex on January 26, 2021, 01:58:19 AM

If bitcoin dominance decrease alot and altcoins are given the chance to pump hard what do you think will happen? There are millions waiting to sell off their altcoin bags through altcoin season, if this happens we are going to a long bear market once again, there will surely be massive sell off

That is the biggest problem, there are many people looking to sell their bags, but to begin with many of those that are holding those coins hold coins that are several years old and they invested out of hype and nothing more, those people will never recover their money as people are not going to invest in coins that old and prefer newer coins.

So only those that held reasonable good coins have a chance to sell in the case of an altcoin market, which lead us to the second problem, even if there was a lot of buying pressure it will be nullified by the selling pressure of those bag holders diminishing the chances of an altcoin season significantly.

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Quote from: FireBallex on January 26, 2021, 01:58:19 AM

If bitcoin dominance decrease alot and altcoins are given the chance to pump hard what do you think will happen? There are millions waiting to sell off their altcoin bags through altcoin season, if this happens we are going to a long bear market once again, there will surely be massive sell off

I think you described the bitcoin pump that will be the result.

A tsunami of money running back to bitcon, potentially.

FireBallex

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If bitcoin dominance decrease alot and altcoins are given the chance to pump hard what do you think will happen? There are millions waiting to sell off their altcoin bags through altcoin season, if this happens we are going to a long bear market once again, there will surely be massive sell off

Kelvinid

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If we compute an 80% decrease from its ATH, it plays below $10k. And yet, we are still far from it and that seems a long wait to go or we remain at the high level rejected the next bearish season for the first time. If we are buying at $5k before, even the dump will come we are still profiting.

That to say that history repeats itself, I don't think it was happening for this time. TBH, that was not what I saw in the market trend but to see a different situation in which the pandemic is a big factor that causes it changes and making another great history.

wxa7115

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Quote from: JollyGood on January 19, 2021, 02:42:09 PM

Quote from: qwizzie on January 19, 2021, 10:12:54 AM

Going by what is in the image, things are going to be big when the collapse happens.

For those that purchased Bitcoin at $40,000, if an 80% hit was to be taken then it means losing $32,000 and being left with just $8,000

I wonder how many people will end up destitute and how many will end up struggling. Buying and selling at the right time is what makes a successful trader, unfortunately too many people buy when the wave is high then discover during the crash they lost almost everything.

For that to happen bitcoin will have to go lower than its previous ATH which is something that has not happened, this is why many are speculating that this bull run needs to reach at least 100k, that way if it crashes 80% we go back to 20k, however it is also possible that the next cash is not going to be as big and bitcoin only losses 50% of its value and we reach 20k as well.

At this point everything is speculation but personally I do not see bitcoin going below 10k level as institutional investors will buy the hell out of bitcoin if the price was anywhere near it.

UnDerDoG81

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6K really?? Lol... Would be the first time in Bitcoin history we go below the ATH of the previous cycle.

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Quote from: abel1337 on January 19, 2021, 05:23:26 PM

History repeats itself and dropping more than 80% is very possible. This is why we should know how the market moves and find the right time to buy and to sell our assets. I remember those who are new to crypto in the year 2017 who get caught by the crash, I hope that if they are still into crypto right now they know what to do when the correction comes.

Theoretically, all people know what to do on a correction (although it is quite difficult to distinguish between a correction and a trend change), the only question is the availability of free money. Life is such that most people do not have free money, and using credit money in the crypto market is super unreliable.

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Quote from: Gozie51 on January 21, 2021, 04:08:18 PM

Quote from: Stedsm on January 19, 2021, 02:24:33 PM

I smell a massive dump to be happening in a few weeks if not days, but for that to happen, I believe BTC needs to get under $29k for a confirmation that the bullish trend is changing and then the trend will be biased until BTC goes either way. I firmly believe it should get down some day when that so-called institution decides to bring out their loaded guns (BTC which were accumulated between $6k to $20k) and suck the hell outta investors when they start tumbling the markets. But it won't be as quick as we saw in 2018, this time it'll be a slow death.

Your speculation of $29k seem to be coming closer if the real fall is going to happen actually. The price has dropped from the ATH now at $31k and that is a huge fall within few days. Maybe is trying to rest at a good spot for another major direction which is either up or down but I don't think is going down back to $6k.

We cant tell until it would happen even though we are bit away but it could really crash back into that price.Inevitable? possibly yes and no because no one can ever predict on what
would happen next. Just like now where we do see some issue or sentiment in the market where price had dipped down for a significant percentage but to know that there are
days where its price do corrrects without having any news or sentiments in the market.For now we have seen one and this might be a trigger for a bear market once again.

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Quote from: Stedsm on January 19, 2021, 02:24:33 PM

I smell a massive dump to be happening in a few weeks if not days, but for that to happen, I believe BTC needs to get under $29k for a confirmation that the bullish trend is changing and then the trend will be biased until BTC goes either way. I firmly believe it should get down some day when that so-called institution decides to bring out their loaded guns (BTC which were accumulated between $6k to $20k) and suck the hell outta investors when they start tumbling the markets. But it won't be as quick as we saw in 2018, this time it'll be a slow death.

Your speculation of $29k seem to be coming closer if the real fall is going to happen actually. The price has dropped from the ATH now at $31k and that is a huge fall within few days. Maybe is trying to rest at a good spot for another major direction which is either up or down but I don't think is going down back to $6k.

abel1337

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Quote from: JollyGood on January 19, 2021, 02:42:09 PM

Quote from: qwizzie on January 19, 2021, 10:12:54 AM

Going by what is in the image, things are going to be big when the collapse happens.

For those that purchased Bitcoin at $40,000, if an 80% hit was to be taken then it means losing $32,000 and being left with just $8,000

I wonder how many people will end up destitute and how many will end up struggling. Buying and selling at the right time is what makes a successful trader, unfortunately too many people buy when the wave is high then discover during the crash they lost almost everything.

History repeats itself and dropping more than 80% is very possible. This is why we should know how the market moves and find the right time to buy and to sell our assets. I remember those who are new to crypto in the year 2017 who get caught by the crash, I hope that if they are still into crypto right now they know what to do when the correction comes.

JollyGood

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Quote from: qwizzie on January 19, 2021, 10:12:54 AM

Going by what is in the image, things are going to be big when the collapse happens.

For those that purchased Bitcoin at $40,000, if an 80% hit was to be taken then it means losing $32,000 and being left with just $8,000

I wonder how many people will end up destitute and how many will end up struggling. Buying and selling at the right time is what makes a successful trader, unfortunately too many people buy when the wave is high then discover during the crash they lost almost everything.

Stedsm

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I smell a massive dump to be happening in a few weeks if not days, but for that to happen, I believe BTC needs to get under $29k for a confirmation that the bullish trend is changing and then the trend will be biased until BTC goes either way. I firmly believe it should get down some day when that so-called institution decides to bring out their loaded guns (BTC which were accumulated between $6k to $20k) and suck the hell outta investors when they start tumbling the markets. But it won't be as quick as we saw in 2018, this time it'll be a slow death.

wxa7115

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Quote from: JimboToronto on January 15, 2021, 09:14:00 AM

We had the dump. It went all the way down to $30k.

Next big correction probably won't occur until after we hit 6 digits. Then it might go as low as $40k-$50k rock bottom.

Institutional investors don't panic sell. Past large crashes were the result of weak-handed retail speculators. They are no longer the majority.

I think that this is the main factor that those that are speculating with the price are ignoring, the landscape and the composition of this market has changed dramatically, institutional investors have changed the game forever, they are in for the long haul and they are not going to get scared in the same way that retail investors did back in the day.

If they have come to this market is because they are completely convinced that bitcoin is the future and it is the right way to protect the value of their money, and if the price of bitcoin has grown so much with only a few institutional investors it is fair to wonder what will happen when a significant number of them begin to see bitcoin as a store of value when the US dollar begins to crash, I really think that at that point even our wildest predictions will come up short.

qwizzie

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Source : https://www.reddit.com/r/Bitcoin/comments/a4yrux/bitcoin_is_a_game_of_accumulation/

I have put that set of data into a bar chart and extended the data set :

How low will the Bitcoin price go this time ? An open question for now. I would not be surprised if another of those heavy (-80%) corrections occur.
Time intervals between these Bitcoin ATH's :

ATH 2011 ($35)
11-JUN-2011

NEW ATH 2013 ($260)
NEW ATH DATE : 10-APRIL-2013

# of months to new ATH : 22 Months

ATH 2013 ($260)
10-APRIL-2013

NEW ATH 2013 ($1,140)
NEW ATH DATE : 29-NOV-2013

# of months to new ATH : 7 Months

ATH 2013 (1,140)
29-NOV-2013

NEW ATH 2017 ($19,900)
NEW ATH DATE : 17-DEC-2017

# of months to new ATH : 49 Months

ATH 2017 (19,900)
17-DEC-2017

NEW ATH 2021 ($42,000)
NEW ATH DATE : 08-JAN-2021

# of months to new ATH : 37 Months

ATH 2021 ($42,000)
08-JAN-2021

NEW ATH ??
NEW ATH DATE : ??

# of months to new ATH : ??

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Quote from: JollyGood on January 19, 2021, 08:59:07 AM

I agree with you it does seem highly unlikely that the price of Bitcoin will go back down to 4 digits but there has to be some sort of correction at some stage and we have not seen a massive dump and sell-off just yet so until that happens we will not know.

Quote from: LogitechMouse on January 15, 2021, 02:59:00 AM

~$20,000 or near that will be the price of Bitcoin if the dump will happen anytime soon.

Many are already expecting for Bitcoin to make a big correction after its movement this past month. Many are just waiting for it to happen so that they can enter at a lower price. Right now, Bitcoin is doing a sideways pattern at the $30,000-$40,000 price but I'm expecting for a correction to the supports will happen soon.

One thing is for sure though, I don't see Bitcoin's price going back to 4 digits again or at the $10,000 price again. Congrats to those who bought at these prices

.

a drop from 41k to 31k is not big enough?

it is close to 30%

You need to look at it from other levels.

In Dec 2017 when coins touched 20k
In July 2019 when coins got over 13k

In Jan 2021 when coins are 36 to 41k

Which was the best month for a miner?

Dec 2017

the second best month

Was July 2019

and Jan 2021 is the third best month but very soon to become better than July of 2019

So if and when we get to 45-50k with current difficulty we are better off than July 2019 as a miner

To match Dec 2017 as a miner we need to be in the 70-80k price at the current difficulty.

so correction is not needed from the mining viewpoint just yet.

I would also argue every country is printing money so on that alone tack on 25% boost to BTC
and of course Norway is investing in BTC for each and every citizen. 1 or 2 bucks each but it is a start.
Miami wants to put $$ into BTC for its pension plans.
Other institutions are looking to drop money into BTC

We could have along way to go to top out and then correct.

JollyGood

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I agree with you it does seem highly unlikely that the price of Bitcoin will go back down to 4 digits but there has to be some sort of correction at some stage and we have not seen a massive dump and sell-off just yet so until that happens we will not know.

Quote from: LogitechMouse on January 15, 2021, 02:59:00 AM

~$20,000 or near that will be the price of Bitcoin if the dump will happen anytime soon.

Many are already expecting for Bitcoin to make a big correction after its movement this past month. Many are just waiting for it to happen so that they can enter at a lower price. Right now, Bitcoin is doing a sideways pattern at the $30,000-$40,000 price but I'm expecting for a correction to the supports will happen soon.

One thing is for sure though, I don't see Bitcoin's price going back to 4 digits again or at the $10,000 price again. Congrats to those who bought at these prices

.

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Quote from: philipma1957 on January 18, 2021, 10:53:55 PM

Quote from: JollyGood on January 07, 2021, 07:44:43 PM

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

So we dumped to 30k and are headed sideways which means 60 is on target 🎯.

My guess is 60 and down to 35k

I agree with you, we probably won’t see it under 20k anytime soon if at all, those who were here when bitcoin went from a few hundred to a thousand they know what I’m talking about. Moreover, when big players like grayscale and MicroStrategy joined the party, bitcoin is no longer a junkey money for people to buy join on the dark web. Now it’s an investment instrument and people a buying more than it’s mined then the demand is insane… until there are more regulations…

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Quote from: JollyGood on January 07, 2021, 07:44:43 PM

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

So we dumped to 30k and are headed sideways which means 60 is on target 🎯.

My guess is 60 and down to 35k

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Quote from: JollyGood on January 07, 2021, 07:44:43 PM

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

I think it is completely plausible that BTC may fall to $20k and test the support there.

But I do expect that level to hold up. The market is still FOMOing hard and there is a very good narrative for bulls to build upon this time around with a ton of institutional investment heading into the market.

I see some people expecting a bear market to hit, which imo is completely unlikely at this stage. Don't forget that we are still waiting on several pieces of potentially very bullish news, including a possible ETF approval on the horizon.

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All the past crash or big dump are on 50% so it's likely that the next crash the price will be on the $20k level, I hope it will be different this year, the mining are more lesser now compared in the past, and this is a big factor to consider plus many whales and institutions are coming in this will lessen the impact of dumps, but let's see if this year is no different from the past years.

I do not think the next crash will be bigger than 50%, that was the old days we are not in those days anymore. People still think that this increase was the same as the previous increases but there is no similarity at all. During the 2014 increase and following crash it was just regular people like you and me, it wasn't any big company and there wasn't even that many companies doing business in crypto, so the fall was easy since regular people just sold.

The 2017 decrease should have been better, but it was still due to same reason, including things like mt.gox case and BCH and following year BSV we had big falls because of big sale as well. 2020 and following 2021 is nothing like that because have seen tens of billions of dollars go into bitcoin for good and they are holding, this time there are no sellers that can make it go down like that.

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Quote from: LogitechMouse on January 15, 2021, 02:59:00 AM

~$20,000 or near that will be the price of Bitcoin if the dump will happen anytime soon.

Many are already expecting for Bitcoin to make a big correction after its movement this past month. Many are just waiting for it to happen so that they can enter at a lower price. Right now, Bitcoin is doing a sideways pattern at the $30,000-$40,000 price but I'm expecting for a correction to the supports will happen soon.

One thing is for sure though, I don't see Bitcoin's price going back to 4 digits again or at the $10,000 price again. Congrats to those who bought at these prices

.

That 20k mark is a very sensitive one though, that is the scary thing. For example if there is a big issue with the bitcoin and it drops to around 20-25k levels, that would be fine and it could still recover from there to above 30k fairly easily. However assuming it reaches there, if it goes under 20k level even a bit? That would literally mean a huge crash, that would result with things we wouldn't want to see at all.

That is why I honestly thing we should be a lot more calm about what is going on, if we are calm about the prices and all those corrections and recovers and so forth, we could basically just let the price go down if it wants to, but not panic and if we do not panic we will rebuy because it is discounted price and will take it above, but if everyone goes into panic mode? That will result with the price going down even harder and hurt us for longer.

JimboToronto

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We had the dump. It went all the way down to $30k.

Next big correction probably won't occur until after we hit 6 digits. Then it might go as low as $40k-$50k rock bottom.

Institutional investors don't panic sell. Past large crashes were the result of weak-handed retail speculators. They are no longer the majority.

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Quote from: ice18 on January 08, 2021, 11:30:33 AM

At around 50k - 55k this is very critical level that we can finally see a huge sell off it can be very fatal that it can bring the price 20k level or even 16k and again big pump incoming after this one so like what happened last 2017 big dump and huge huge pump.

I also have the same thought. It seems $50k would be another critical level and everyone might be sell on that mark. I wouldn't say that it will be the end of the rally because it is for whales and institutions to decide because once they sell-off that would really bring down the price. They might push it to a hundred though, this also for them to decide. But I don't think it will go beyond 3 digits perhaps this will play around $15k-$20k.

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If a crash would happen right now, we'd stabilize at 14-16k. But I doubt this would be the case, there's still a huge potential for a further rally. I doubt that prices above 100k will be reached in this cycle, so in case like 60-80k as a top, we'd be looking at 20-30k bottom.

You also shouldn't forget about some extraordinary circumstances. For example, it was believed that Bitcoin will never touch 3k again after 2018, but then it did in 2020 as a reaction to the coronavirus crisis, though it happened only momentary.

JollyGood

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If what you say is correct then quite clearly things will be different to what happened with previous bull runs and subsequent dumps. I disagree with you, I think there will be a dump soon but either way it will be interesting to see how all this will play out because huge investment firms are now buying in to Bitcoin and with it so many other crypto too.

Quote from: bryant.coleman on January 15, 2021, 01:53:28 AM

You are predicting about a potential dump, based on what happened in 2015 and 2018. I have reasons to believe that this time it is not going to repeat. First of all, this time the rally was supported by solid improvement in adoption and acceptability. The prices didn't went up all of a sudden just because of hype. Also, institutional investors are involved and they are unlikely to dump their coins during a bearish phase.

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~$20,000 or near that will be the price of Bitcoin if the dump will happen anytime soon.

Many are already expecting for Bitcoin to make a big correction after its movement this past month. Many are just waiting for it to happen so that they can enter at a lower price. Right now, Bitcoin is doing a sideways pattern at the $30,000-$40,000 price but I'm expecting for a correction to the supports will happen soon.

One thing is for sure though, I don't see Bitcoin's price going back to 4 digits again or at the $10,000 price again. Congrats to those who bought at these prices

.

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You are predicting about a potential dump, based on what happened in 2015 and 2018. I have reasons to believe that this time it is not going to repeat. First of all, this time the rally was supported by solid improvement in adoption and acceptability. The prices didn't went up all of a sudden just because of hype. Also, institutional investors are involved and they are unlikely to dump their coins during a bearish phase.

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Quote

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

back to that levels again ? oh no not again .

im already used to these prices and we have stayed on these prices for such a long time last time and it would be alright for the all of us to experience another whole new levels ?

just for a change and thank goodness because god is listening , the price so far didnt drop hard below 30000 dollarz and its on its way again for a new high .

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Quote from: SlimShadyMmp on January 11, 2021, 04:51:39 PM

I really doubt anybody knows that but I think what I can assure you is there will be some individual willing to accumulate your dumps because thats crypto cirle

That is the nature of the beast when it comes to commerce

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People fail to understand that Internet is not promised to us and in the Dark Ages there is 0.7% chance that Internet will be Available ... It is the cruel reality

I read many strange posts in my time in this forum but what is exactly have you posted? What has internet got to do with Bitcoin in the context of what you wrote and 0.7 + dark ages?

Quote from: carlfebz2 on January 11, 2021, 05:24:17 PM

Quote from: ?? on ??

its gonna stick around the price point where all those big boys from investment firm or management fund enters bitcoin. Those are people with the huge amount of bitcoin in their pocket and with the higher chance of controlling the market.
Maybe people could panic selling but those people gonna bag hold and buys around the dip for sure, it's gonna stick around $25K I guess Roll Eyes

Good observation but be sure that you do able to spot out on when those big guys of yours for them to sell out. There would be no indications on when it would happen thats why it isnt really something that you can rely on but talking about certain price points then this will really be varying on someones choice and preference.

When it comes to dump then it is really indeed inevitable because there would really be coming to a point on where these fellas will really be making some releasing of their bags.

Worth? No one can predict just like on what we had missed out to predict that bitcoin could reach or break $30k or $40k on highest or peak price.No one surely able to anticipate that.

Well it did breach the $40,000 barrier but fell for several days, quite evidently the institutes are buying while whales might be cashing in.

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Quote from: JollyGood on January 07, 2021, 07:44:43 PM

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

Those levels seem kind of low to me, for that to happen even some institutional investors will be very close to just breakeven and at that point it will be fair to wonder if they will not get worried and begin to sell their coins, which could be terrible for the market.

As such I expect a more moderate decrease in the price, a range between 15k and 20k seems right to me and if the price really goes crazy as some people expect and it touches 300k or more than a drop to 50k seems adequate to me.

Dabs

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It's worth noting that anyone who buys Bitcoin and waits at least 5 years will be in profit, no matter when you bought it. So the longer someone holds it, the better chance they will be in profit. They have to think long term.

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Quote from: ?? on ??

its gonna stick around the price point where all those big boys from investment firm or management fund enters bitcoin. Those are people with the huge amount of bitcoin in their pocket and with the higher chance of controlling the market.
Maybe people could panic selling but those people gonna bag hold and buys around the dip for sure, it's gonna stick around $25K I guess Roll Eyes

You might be on to something there. $25,000 is a realistic figure in my opinion.

Quote from: STT on January 11, 2021, 12:03:54 AM

Its a fair point, the 2018 low was an ironic positive because it was far beyond the previous high and not really as negative as it could have been. My personal take is still to go on something like the 2019 highs rather then 2017 because I think we had more volume and involvement in 2019 and so its more significant but thats an especially negative take I'm putting forward compared to most. I dont mind sticking with that also because of the 200 day average being near to that also, I do think long term prices are much different to the froth.

Most are saying 20k or more, I guess half is a fair guess. Its impossible for people to know because it also depends on dollar, in 2018 the dollar index rose almost the whole year and it was a flip to the '17 trend hence upset. If 2021 is very similar to 2020 in that its a decline in dollar index or various FIAT strength then you wont have this upset and sell off in the same way.

That $20,000 figure seems to be popular but as with any crypto there is no way to know what will actually happen and going on past curves in not always reliable in an unreliable crypto space.

Quote from: KTChampions on January 11, 2021, 11:00:57 AM

Those years were too far away and passed on scanty liquidity to seriously discuss them. I think the rule "after updating the ATH, do not fall below the previous ATH" should work, otherwise the majority of long-term investors will simply be disappointed in the cycles and lose the motive to invest between halvings.

Yes you are right it was such a long time back, years ago but forgetting about them entirely might not be a good idea because people lost money, houses and livelihoods because they brought and sold crypto especially Bitcoin at the wrong time.

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Quote from: ?? on ??

its gonna stick around the price point where all those big boys from investment firm or management fund enters bitcoin. Those are people with the huge amount of bitcoin in their pocket and with the higher chance of controlling the market.
Maybe people could panic selling but those people gonna bag hold and buys around the dip for sure, it's gonna stick around $25K I guess Roll Eyes

Good observation but be sure that you do able to spot out on when those big guys of yours for them to sell out. There would be no indications on when it would happen thats why it isnt really something that you can rely on but talking about certain price points then this will really be varying on someones choice and preference.

When it comes to dump then it is really indeed inevitable because there would really be coming to a point on where these fellas will really be making some releasing of their bags.

Worth? No one can predict just like on what we had missed out to predict that bitcoin could reach or break $30k or $40k on highest or peak price.No one surely able to anticipate that.

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I really doubt anybody knows that but I think what I can assure you is there will be some individual willing to accumulate your dumps because thats crypto cirle

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Quote from: JollyGood on January 11, 2021, 01:16:27 AM

Anything is possible but a lesson from the past is when Bitcoin hit $1000+ in 2013 it fell down to around just above $200 in 2015. Nothing about the price of Bitcoin will surprise me now. I am just looking around at what is going on with the current buying and selling then will wait for the stable price.

Quote from: KTChampions on January 10, 2021, 06:56:34 PM

Do you think bitcoin will drop 50 percent from the previous ATH? This will be a big disappointment and surprise for those who think that bitcoin cannot fall below this. On the other hand, this is what usually happens with bitcoin - something that no one expects happens Cheesy

Those years were too far away and passed on scanty liquidity to seriously discuss them. I think the rule "after updating the ATH, do not fall below the previous ATH" should work, otherwise the majority of long-term investors will simply be disappointed in the cycles and lose the motive to invest between halvings.

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Anything is possible but a lesson from the past is when Bitcoin hit $1000+ in 2013 it fell down to around just above $200 in 2015. Nothing about the price of Bitcoin will surprise me now. I am just looking around at what is going on with the current buying and selling then will wait for the stable price.

Quote from: KTChampions on January 10, 2021, 06:56:34 PM

Quote from: JollyGood on January 07, 2021, 07:44:43 PM

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

Do you think bitcoin will drop 50 percent from the previous ATH? This will be a big disappointment and surprise for those who think that bitcoin cannot fall below this. On the other hand, this is what usually happens with bitcoin - something that no one expects happens Cheesy

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Its a fair point, the 2018 low was an ironic positive because it was far beyond the previous high and not really as negative as it could have been. My personal take is still to go on something like the 2019 highs rather then 2017 because I think we had more volume and involvement in 2019 and so its more significant but thats an especially negative take I'm putting forward compared to most. I dont mind sticking with that also because of the 200 day average being near to that also, I do think long term prices are much different to the froth.

Most are saying 20k or more, I guess half is a fair guess. Its impossible for people to know because it also depends on dollar, in 2018 the dollar index rose almost the whole year and it was a flip to the '17 trend hence upset. If 2021 is very similar to 2020 in that its a decline in dollar index or various FIAT strength then you wont have this upset and sell off in the same way.

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Quote from: JollyGood on January 07, 2021, 07:44:43 PM

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

Do you think bitcoin will drop 50 percent from the previous ATH? This will be a big disappointment and surprise for those who think that bitcoin cannot fall below this. On the other hand, this is what usually happens with bitcoin - something that no one expects happens Cheesy

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Yes there is a difference in Bitstamp and CMC prices, thank you for the information.

If you are right and Bitcoin loses over 80% of its value in 2021 then it will be all red on the crypto price websites. In that scenario many smaller coins and token will probably not even survive and others will see a huge fall in price.

Many investors will cut their losses reluctantly when a correction happens and many will simply face financial ruin when the crash happens when panic selling across the world sets in because they bought in to crypto at high prices.

Quote from: error08 on January 10, 2021, 11:07:21 AM

I believe the ath was $42k based on bitstamp, even if you check it now the day's range 38556.27 — 41450.00.

it won't crash anytime soon but some corrections may occur like 30% and max 40%, which mean around $24k - $28k.
The real crash will take place after bitcoin reach the peak probably by Q4 2021 if history repeats itself. Then bitcoin price will gradually lose its value to 80%-90% in 2022.

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Quote from: JollyGood on January 07, 2021, 07:44:43 PM

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

I believe the ath was $42k based on bitstamp, even if you check it now the day's range 38556.27 — 41450.00.

it won't crash anytime soon but some corrections may occur like 30% and max 40%, which mean around $24k - $28k.
The real crash will take place after bitcoin reach the peak probably by Q4 2021 if history repeats itself. Then bitcoin price will gradually lose its value to 80%-90% in 2022.

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Quote from: JimboToronto on January 09, 2021, 09:07:34 AM

Quote from: JollyGood on January 07, 2021, 07:44:43 PM

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

_____
Coinmarketcap? I thought only noobs and altcoiners used CMC as a Bitcoin price reference.

The great old Jimbo, always making me laugh! May I suggest you've been too nice here? You could have named the altcoiners shitcoiners for what's worth. And you forgot to mention that CMC gets used by defi yield farmers and ICO nostalgic too!

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Thank you for the clarification. I just checked:

Bitstamp showed $40,034
CMC showed $40,007

CMC was taken over by Binance so I see no problem with using them as a measure but I understand why you would want to use Bitstamp. Wish you success in the latest bull run Wink

Quote from: JimboToronto on January 09, 2021, 11:23:43 PM

Quote from: JollyGood on January 09, 2021, 09:15:34 AM

Where do you get your crypto price references from?

For BTC/USD I use Bitstamp.

Bitstamp is preferred by many OG Bitcoiners because of its long standing as a reputable exchange that doesn't allow leverage or margin trading, just honest buys and sells. It's not surprising that it's what my neighborhood OTC exchange uses.

For BTC/CAD, BTC/EUR, BTC/GBP, etc I use Bitcoinaverage. I also use it as a multi-exchange price index for BTC/USD.

Bitcoinaverage bases its prices on the most exchanges worldwide based on volume, omitting exchanges with zero trading fees. It's used by almost all local ATMs.

I don't do altcoins

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Quote from: JollyGood on January 09, 2021, 09:15:34 AM

Where do you get your crypto price references from?

For BTC/USD I use Bitstamp.

Bitstamp is preferred by many OG Bitcoiners because of its long standing as a reputable exchange that doesn't allow leverage or margin trading, just honest buys and sells. It's not surprising that it's what my neighborhood OTC exchange uses.

For BTC/CAD, BTC/EUR, BTC/GBP, etc I use Bitcoinaverage. I also use it as a multi-exchange price index for BTC/USD.

Bitcoinaverage bases its prices on the most exchanges worldwide based on volume, omitting exchanges with zero trading fees. It's used by almost all local ATMs.

I don't do altcoins

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If a major crash were to happen I don't think it would be less than $ 20k, we already know the hardest ATH to hit for nearly 3 years is $ 20k. just could create a new ATH that gets big investors starting to enter at the price of $ 20k, there is no way they continue to sell below the price of 20k because most investors believe that bitcoin will reach beyond expectations.

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I don't get why everyone is expecting a big drop in bitcoin price, why is there this belief? I get that it has always gone up and crashed so everyone assumes that it will crash again, but does it have to be a crash? Like maybe from now on we are going to be around here? Maybe from now on the price will be 35k to 40k for the next 8 months? Who knows? Sure it could reach to 32k for a day or two and increase again, go to 42k and make us hopeful and drop to 38k again, but all around just hang around here. Is that so impossible?

I am not saying that will be what happens, I am not saying it will not crash, all I am asking is why do people think that it has to crash and there is no other option? I feel like there are tons of other options, maybe we can go to 100k and "drop" to 50k? Who knows. I just think that as long as we keep promoting and supporting bitcoin, everything will be fine.

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Quote from: JimboToronto on January 09, 2021, 09:07:34 AM

Why would you expect a crash soon? This rally is still young. We might see corrections along the way, perhaps as large as 30-40% but don't expect to see $20k again, let alone $12k-$13k.

When this bull run has finished (maybe $200k-$400k), we could see a much larger dip, maybe as high as 80%.

Don't count on it being that severe though. Previous bubbles were based on retail FOMO followed by weak-hand panic. This run is founded on well-researched institutional investment. Institutional investors don't have weak hands. Don't expect them to panic.

Yes, when the retail bubble bursts, weak retail hands will panic and the price will plummet, but not as far as in the past because retail will represent a smaller percentage of the total coinholders. Institutional investors will continue to hold.

It might not even make it back down to 5 figures at that point.

It is all speculation, nobody knows what will happen and things are not clear.

As with previous bull runs the price does come down, sometimes way less than hoped for or anticipated. I am enjoying the c.$40,000 price but am trigger happy and will be happy to sell some as soon as I get a feeling the end of the bull run is in sight.

Quote from: JimboToronto on January 09, 2021, 09:07:34 AM

Coinmarketcap? I thought only noobs and altcoiners used CMC as a Bitcoin price reference.

Where do you get your crypto price references from?

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Quote from: JollyGood on January 07, 2021, 07:44:43 PM

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

Why would you expect a crash soon? This rally is still young. We might see corrections along the way, perhaps as large as 30-40% but don't expect to see $20k again, let alone $12k-$13k.

When this bull run has finished (maybe $200k-$400k), we could see a much larger dip, maybe as high as 80%.

Don't count on it being that severe though. Previous bubbles were based on retail FOMO followed by weak-hand panic. This run is founded on well-researched institutional investment. Institutional investors don't have weak hands. Don't expect them to panic.

Yes, when the retail bubble bursts, weak retail hands will panic and the price will plummet, but not as far as in the past because retail will represent a smaller percentage of the total coinholders. Institutional investors will continue to hold.

It might not even make it back down to 5 figures at that point.
_____

Coinmarketcap? I thought only noobs and altcoiners used CMC as a Bitcoin price reference.

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It will be interesting to see where this goes because it might be a mark for future bull runs followed by the aftermath. Yes you are right it all depends on where the peak is but Bitcoin losing around 30% value (as you suggested) will not be a total disaster for many investors, many will hang on and wait until the next bull run.

Quote from: Upgrade00 on January 08, 2021, 04:35:24 AM

I personally do not see Bitcoin losing more than 30% of its value at this point. If it does dip now we could fall with the $25k-$28k range and if the bull run continues the support range would also rise. It all depends on where the peak is.

Quote from: Lorence.xD on January 08, 2021, 04:26:44 AM

A 3 digit is impossible there are still a lot of hurdles to be passed through before we even reach $99,999, not to mention that the current available supply is steadily running low.

Don't you think a thinning supply would have a positive effect on the price? The less Bitcoins there are available for sale, the more demand grows against supply and the more valuable it gets.

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Quote from: thecodebear on January 08, 2021, 07:16:11 PM

Quote from: JollyGood on January 08, 2021, 07:11:49 PM

I cannot see this bullrun going on longer than a few more day maximum, in my opinion it will not be going on for a month or two. When the price falls after the dump there will be plenty of people around the world that will financial face ruin. I feel sorry for those that purchased at $35-$40,000.

Oh wow you actually think the entire bull market is going to end this month?? haha. that's quite the claim! This thing has barely even started and you're saying it's over!

I've noticed a lot of people who arrived in 2016-2017 are very bearish. They're in disbelief. That sentiment, along with IRL people telling me the BTC price is too high and that I should sell, is one of the reasons I can tell the market is going much higher. Retail is barely on board yet.

I can sympathize with those bears too. Been there. I was traumatized by the 2014-2015 bear market. I was in total disbelief in early 2017. Not dumb enough to short, but dumb enough to sell lots of coins, not realizing we were on the cusp of parabolic gains. Not making that mistake again.

JollyGood is worried about losing USD. He should be more worried about losing coins.

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Quote from: JollyGood on January 08, 2021, 07:11:49 PM

I cannot see this bullrun going on longer than a few more day maximum, in my opinion it will not be going on for a month or two. When the price falls after the dump there will be plenty of people around the world that will financial face ruin. I feel sorry for those that purchased at $35-$40,000.

Quote from: Lorence.xD on January 08, 2021, 04:26:44 AM

Quote from: Kemarit on January 07, 2021, 08:03:15 PM

Depends on what will be top for this bubble, others are seeing a 6 digit rise, as high as $300k so unlikely to settle $12,000-$13,000.

And we have to know as well what will be the reason behind the sell-off to really crash the market to more than 50%. We are still in the bull market, so just a slight correction, there are many takers just waiting around the corner.

A 3 digit is impossible there are still a lot of hurdles to be passed through before we even reach $99,999, not to mention that the current available supply is steadily running low. Hopefully the bull run is still going strong for at least a month or two, sell offs will soon be prevalent.

Oh wow you actually think the entire bull market is going to end this month?? haha. that's quite the claim! This thing has barely even started and you're saying it's over! Reminds me of in 2017 when Bitcoin was at $2800 in early June of that year I read some analyst claim that was the top and it would go back to $1000 for the next 6 months and then start rising up a little bit at the start of 2018 haha.

It's not very wise to predict the end of a bull market when it's only 2x'd from the old peak, and when institutions just began eating the supply! Even if a short term correction happens, nobody faces financial ruin, ya just wait a few months at most (probably a few weeks) and the price will be pushing new ATHs again.

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I cannot see this bullrun going on longer than a few more day maximum, in my opinion it will not be going on for a month or two. When the price falls after the dump there will be plenty of people around the world that will financial face ruin. I feel sorry for those that purchased at $35-$40,000.

Quote from: Lorence.xD on January 08, 2021, 04:26:44 AM

Quote from: Kemarit on January 07, 2021, 08:03:15 PM

Depends on what will be top for this bubble, others are seeing a 6 digit rise, as high as $300k so unlikely to settle $12,000-$13,000.

And we have to know as well what will be the reason behind the sell-off to really crash the market to more than 50%. We are still in the bull market, so just a slight correction, there are many takers just waiting around the corner.

A 3 digit is impossible there are still a lot of hurdles to be passed through before we even reach $99,999, not to mention that the current available supply is steadily running low. Hopefully the bull run is still going strong for at least a month or two, sell offs will soon be prevalent.

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You're just asking about the next/first correction in this bull market? Maybe $30k if it corrects before we get over $50k. If it doesn't correct until a bit higher it might only drop to $40k.

The low for the year will likely be the $27600 that was hit a few days ago on that one dip from $34k. Very much doubt we'll see anything that low again, ever.

If you're asking about a big correction post-bull market, or at least when the market takes a bit of a break from exponential growth, it'll probably drop to like high five digits at lowest.

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Quote from: ice18 on January 08, 2021, 11:30:33 AM

At around 50k - 55k this is very critical level that we can finally see a huge sell off it can be very fatal that it can bring the price 20k level or even 16k and again big pump incoming after this one so like what happened last 2017 big dump and huge huge pump.

I don't think we will be seeing that level very soon.
But btc market is surprising us everyday, so can't really say that it will not happen.
I am sure when that level is achieved, a lot of us here will start thinking selling some from our portfolio.
Because at anytime, crash will happen and we don't know when that will be.

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Some people tried to crash it couple times, cashing out 1000+ coins (on just one exchange) within seconds. But these coins were eaten up very fast. Its really hard to tell. But I think the bears have to dump more then usual to really start a collapse. I hope the rally continues couple more weeks. Just a 2x growth to 2017 would be pretty disappointing if we think big players getting into the game now.

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Quote from: JollyGood on January 07, 2021, 07:44:43 PM

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

Depends and still leaves a lot of questions in mind on how bad it could actually drop when this huge correction or pullback would happen.Honestly we are really moving that
fast in a short span of time and i dont see for it to be an organic gradual increase anymore. FOMO? Possible but we cant deny that adoption level is somewhat higher
compared into those previous years.When dump happens? Then it would really be an opportunity to buy cheap coins because now, this isnt something an average joe
can purchase a whole coin but somehow we can buy on part or satoshi amounts. This is why we should really be careful on what we are dealing now.

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Some corrections or pullbacks are to be expected.

The more experienced guys have learned to ride these ebbs and flows.

For sure the longer term trend is clear.

BTD! Wink

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Quote from: JollyGood on January 07, 2021, 07:44:43 PM

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

"The dump?"
"The crash?"

Do you mean the bubble popping for good, like December 2017? We're not even close to that point! Give it 6+ months at least.

As for a short term correction, I would aim closer to double that price, should $42K serve as a major top. $25K is still possible in a June 2017-like shakeout. I wouldn't bet on much lower than that.

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Those are comments from analysts who know what they are talking about but I think there is no way of them knowing what will happen next. It makes sense for institutions not wanting the price to fall below $20,000 if they purchased it at that price but it is inevitable the dump will start soon and there is no guarantee what the price of Bitcoin will be in the aftermath.

Quote from: lovesmayfamilis on January 08, 2021, 03:48:59 AM

In a recent interview with Bloomberg Bitpay commercial director Sonny Singh suggested that if investors start selling their bitcoins earlier than planned, the bitcoin rate could fall to $20,000. And also, because institutional investors purchased bitcoin at the level of $20,000, they will not let it fall below.
But in fact, bitcoin is so unpredictable that only he can know his future.

https://www.youtube.com/watch?v=RPz9ea6fwjA&ab_channel=BloombergTechnology

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Quote from: JollyGood on January 07, 2021, 07:44:43 PM

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

The dump will happen but I dont believe it will be very soon because major altcoin usually reach there new ATH price before dump happen which altcoin like ETH havent reach and I somehow agreed with you since the institution are the primary investors so theres chance for some change in the market momentum.

Quote from: JollyGood on January 07, 2021, 07:44:43 PM

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

If it normal crash it will settle at $12K-$15K but if it blood bath then we should expect it too settle at $8K-$10K.

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At around 50k - 55k this is very critical level that we can finally see a huge sell off it can be very fatal that it can bring the price 20k level or even 16k and again big pump incoming after this one so like what happened last 2017 big dump and huge huge pump.

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This move is structured differently than the previous one. I wouldn't look for a significant retracement until I don't see some serious signs in the market from a technical point of view. For now, Bitcoin is marching forward with a nice volume spike on CMEs. That's a good sign. I really don't think institutions are done buying, but that's just my humble opinion. Some people say that these numbers are crazy, but the truth is this asset is revolutionary. We have never had witnessed a currency designed like BTC. We don't know how it will be treated from a market standpoint.

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Quote from: JollyGood on January 07, 2021, 07:44:43 PM

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The price might easily cross over $50,000 and i am expecting further rally before the market comes crashing down and i wont be surprised if it goes below $10,000 as the institutional investors who purchased in the past few months will be booking their profits and i am expecting the fall to be much bigger than we have seen historically.

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I think it would fall under $18k because that is where the rapid increase occurred. Dump or correction as we would like to call it, stops to a point wherein the pump occurred to somewhat eliminate the rapid increase. But I am not having a valid basis regarding this speculation and I doubt there is any of us who has. The only thing we could do is to speculate. Also, possibility is always two-sided. There is still a tendency for its price to continue increasing, it is just hard to tell. So the best thing you could do as an investor is to analyze the market and to not let anyone to affect your decision regarding your investment in order to avoid regret at the end of the day. I now regret selling at an early point but we just cannot do something about things that already happened so better think as many times as possible if you are having plans at this point.

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A fall in bitcoin price may sound inevitable and that is what I also believe but it isn't necessary that it happens. There are many institutional investors waiting for a fall back to invest more and I really don't think bitcoin will go below $20,000 - $25,000 again. The bull rally has been going at a crazy speed which is why it is making us thing that the dump is near as the history shows us but we should also consider the fact that this time it's not the weak hands who are buying bitcoins but bigger corporations and institutions who are investing in bitcoin for the long term. This does makes a huge difference. For now we can only hope that bitcoin dumps a little so that we can join the bull run and not wait until it completely goes out of our hands until a point where it makes no sense to invest at such a high price whereas we could have bought for a very low price.

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Quote from: Upgrade00 on January 08, 2021, 04:35:24 AM

A 3 digit is impossible there are still a lot of hurdles to be passed through before we even reach $99,999, not to mention that the current available supply is steadily running low.

If we are to inspect the yearly graph of Bitcoin, we cannot determine how much ATH it could reach per year, but there's one thing for sure that we can see for us to infer that we are going up higher over the years and that is the Bitcoin's yearly All Time Low.

You can refer to this tweet:

Source

From this tweet, the All Time Low per year shows an uptrend price which could be good for us to predict how much could be the dip after the big market correction happens. The info quite lacks in years 2019 and 2020, but for this year, it could be higher than $3200 and lower than $10K. This is just my speculation, if you have other ways to tell how much the dip could be, feel free to drop your analysis.

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It will probably be safe to say Bitcoin price never rise to $300,000 on this bull run, for me it is impossible. Will it even hit $100,00 before 31st December 2021 - maybe. People will start getting twitchy and they will start selling soon.

Bitcoin is now trading at $41,975 according to CMC

Quote from: Kemarit on January 07, 2021, 08:03:15 PM

Depends on what will be top for this bubble, others are seeing a 6 digit rise, as high as $300k so unlikely to settle $12,000-$13,000.

And we have to know as well what will be the reason behind the sell-off to really crash the market to more than 50%. We are still in the bull market, so just a slight correction, there are many takers just waiting around the corner.

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Quote from: Upgrade00 on January 08, 2021, 04:35:24 AM

Don't you think a thinning supply would have a positive effect on the price? The less Bitcoins there are available for sale, the more demand grows against supply and the more valuable it gets.

Regarding the demand for dwindling supply, it would be difficult if bitcoin would hold on to a price of $ 17,000 or perhaps slow down a $ 20,000 resistance. but if based on the shortage that occurs every year, then the demand for bitcoin will be very large and only owned by fund holders. as much as possible owning high priced bitcoins and immediately buying them will not necessarily continue to increase, the price is expected to fall soon, and is enough to get everyone ready to scoop up the amount of bitcoins at the dumping point.

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Quote from: Lorence.xD on January 08, 2021, 04:26:44 AM

Quote from: Kemarit on January 07, 2021, 08:03:15 PM

Depends on what will be top for this bubble, others are seeing a 6 digit rise, as high as $300k so unlikely to settle $12,000-$13,000.

And we have to know as well what will be the reason behind the sell-off to really crash the market to more than 50%. We are still in the bull market, so just a slight correction, there are many takers just waiting around the corner.

A 3 digit is impossible there are still a lot of hurdles to be passed through before we even reach $99,999, not to mention that the current available supply is steadily running low. Hopefully the bull run is still going strong for at least a month or two, sell offs will soon be prevalent.

On the contrary, bitcoin becoming scarce will fuel the price to go up, correct? But yeah, a sell off will eventually happen, whether its a 50% crash, depends on what causes the crash. So far the bulls and it's herd continue to run very fast and we don't know when it's going to stop to take a respite.

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I personally do not see Bitcoin losing more than 30% of its value at this point. If it does dip now we could fall with the $25k-$28k range and if the bull run continues the support range would also rise. It all depends on where the peak is.

Quote from: Lorence.xD on January 08, 2021, 04:26:44 AM

A 3 digit is impossible there are still a lot of hurdles to be passed through before we even reach $99,999, not to mention that the current available supply is steadily running low.

Don't you think a thinning supply would have a positive effect on the price? The less Bitcoins there are available for sale, the more demand grows against supply and the more valuable it gets.

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Quote from: Kemarit on January 07, 2021, 08:03:15 PM

Depends on what will be top for this bubble, others are seeing a 6 digit rise, as high as $300k so unlikely to settle $12,000-$13,000.

And we have to know as well what will be the reason behind the sell-off to really crash the market to more than 50%. We are still in the bull market, so just a slight correction, there are many takers just waiting around the corner.

A 3 digit is impossible there are still a lot of hurdles to be passed through before we even reach $99,999, not to mention that the current available supply is steadily running low. Hopefully the bull run is still going strong for at least a month or two, sell offs will soon be prevalent.

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In a recent interview with Bloomberg Bitpay commercial director Sonny Singh suggested that if investors start selling their bitcoins earlier than planned, the bitcoin rate could fall to $20,000. And also, because institutional investors purchased bitcoin at the level of $20,000, they will not let it fall below.
But in fact, bitcoin is so unpredictable that only he can know his future.

https://www.youtube.com/watch?v=RPz9ea6fwjA&ab_channel=BloombergTechnology

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Depends on what will be top for this bubble, others are seeing a 6 digit rise, as high as $300k so unlikely to settle $12,000-$13,000.

And we have to know as well what will be the reason behind the sell-off to really crash the market to more than 50%. We are still in the bull market, so just a slight correction, there are many takers just waiting around the corner.

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I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

Topic: When The Inevitable Happens With The Dump - What Will Bitcoin Be Worth? (Read 949 times)