Will Bitcoin ever be 20k again? Why or Why not?

superman184

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Quote from: erep on August 13, 2023, 10:10:19 AM

I don't think there are any other incidents that can drop the price to 20k again, the current global incident is facing inflation in various countries but whatever the case for inflation is not related to bitcoin, instead bitcoin provides the right solution to prevent the impact of inflation. The potential for other cases related to crypto may appear ahead of the halving period, such as the past binance US case or the top coin becoming a scam coin will affect the bitcoin market price, we will never know what will happen in the future.

Because one never knows what will happen in the future to the world and crypto space, that's where speculation on conditions and prices always takes place because experienced observers will definitely make a bit of a reasonable analysis of this and will always see the impact what could happen to Bitcoin in the current inflationary conditions. Although personally I also don't expect bad things to happen to Bitcoin again because right now there are many people who really hope that price recovery in Bitcoin can happen as soon as possible.

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We must manage the risk of loss to avoid unexpected incidents although some argue about the recovery period to prepare for the bullrun season.

I'd be more than happy to hold it while managing risks if the bullrun season really comes next year. Moreover, in a bull run one can also expect more price recovery in Bitcoin as well as in other cryptocurrency assets as well. But for now I'm just more concerned with price recovery in Bitcoin so still ignoring the others and not looking at it at all.

erep

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Quote from: fuguebtc on August 12, 2023, 11:14:37 PM

As Franktoshi said, like 2020, the covid pandemic has caused bitcoin to be severely dumped before we enter the 2021 bull season. So there is still a chance for bitcoin to drop to $20k again but it would take a big black swan similar to the covid pandemic or an economic crisis like 2022 to do that. Other than that, I can't think of any reason why bitcoin would drop to $20k again.

According to recent charts shared on social media, in 2023, we officially end the bear season and what we are experiencing is preparing for the bull season.

I don't think there are any other incidents that can drop the price to 20k again, the current global incident is facing inflation in various countries but whatever the case for inflation is not related to bitcoin, instead bitcoin provides the right solution to prevent the impact of inflation. The potential for other cases related to crypto may appear ahead of the halving period, such as the past binance US case or the top coin becoming a scam coin will affect the bitcoin market price, we will never know what will happen in the future.

We must manage the risk of loss to avoid unexpected incidents although some argue about the recovery period to prepare for the bullrun season.

fuguebtc

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Quote from: flyingcarpet on August 12, 2023, 06:37:02 AM

Quote from: fuguebtc on August 12, 2023, 04:59:48 AM

Quote from: Stedsm on August 11, 2023, 04:52:12 PM

A huge chance is there for BTC to get there again before making any new highs because there's not enough strength seen in BTC against USD and dollar index will also get one more retracement above 110 before it settles down back under 98 and less, so there's currently a possibility for us to see BTC under 20k (and even this year's low of ~$16500).

I have been thinking about that scenario since the beginning of the year when many experts said that inflation would continue to increase in 2023. But so far, what we have is that inflation is slowly cooling down and the Fed isn't going to cut rates anytime soon, but they're going to have to stop raising rates madly soon. Therefore, the chance for the DXY index to rise again is very unlikely, I think in the rest of the year the USD index will drop much. So very fragile and unlikely for bitcoin to drop below $20k, IMO.
Bitcoin will not recover quickly and there will be a correction until the halving takes place. But it won't be able to drop below $20k again, we had a bear season bottom of $16k last year.

I think Bitcoin should drop to expected levels before it goes up. Because when the expectation is met, the increase will be more robust. But I don't think the price will drop below 20k. Because we left those times behind. As we get closer to the halving, the anticipation rises, but I wait for a solid correction in the price first.

I wonder what predictions will hold up towards the end of the year. Negative news should not be made in the market. Good times await us towards halving.

As Franktoshi said, like 2020, the covid pandemic has caused bitcoin to be severely dumped before we enter the 2021 bull season. So there is still a chance for bitcoin to drop to $20k again but it would take a big black swan similar to the covid pandemic or an economic crisis like 2022 to do that. Other than that, I can't think of any reason why bitcoin would drop to $20k again.

According to recent charts shared on social media, in 2023, we officially end the bear season and what we are experiencing is preparing for the bull season.

n0ne

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Quote from: Franctoshi on August 12, 2023, 03:53:44 PM

Quote from: erep on August 12, 2023, 03:39:03 PM

We must know that every price movement scenario will not be the same every time before the previous halving, so even though they predict the price will fall significantly before the halving, it is not certain that this prediction must be trusted. Even though the price is dropping going forward but the market price position will not be below the expected 20k, the crypto market is currently trending positively with a fairly good market recovery from the previous 25k price, we just need to wait for the next bullish moment to reach 40k before the halving.

I could recall vividly in 2020 pre-halving the market got a significant price decline due to the Coronavirus pandemic, but I don't know what event is going to get us down if that should happen again, and it depends on where the price of Bitcoin will be at the time when we will be approaching the next halving because if the price is above 30k and maybe if the price is somewhere between $40-50k, I don't see the market trading $20k during that time.

Most of the time price decline were connected with the market and the scheduled incidents taking place with the network. With bitcoin the halving is a major event and it is a known thing that the price will reach the peak close to the days. There is difference between the price reaching the peak and bouncing to reach ath. For this it always takes a downturn and bounces than just getting pumped from the highest point which is hard for the market to reach better price points.

Franctoshi

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Quote from: erep on August 12, 2023, 03:39:03 PM

We must know that every price movement scenario will not be the same every time before the previous halving, so even though they predict the price will fall significantly before the halving, it is not certain that this prediction must be trusted. Even though the price is dropping going forward but the market price position will not be below the expected 20k, the crypto market is currently trending positively with a fairly good market recovery from the previous 25k price, we just need to wait for the next bullish moment to reach 40k before the halving.

I could recall vividly in 2020 pre-halving the market got a significant price decline due to the Coronavirus pandemic, but I don't know what event is going to get us down if that should happen again, and it depends on where the price of Bitcoin will be at the time when we will be approaching the next halving because if the price is above 30k and maybe if the price is somewhere between $40-50k, I don't see the market trading $20k during that time.

erep

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Quote from: flyingcarpet on August 12, 2023, 06:37:02 AM

I think Bitcoin should drop to expected levels before it goes up. Because when the expectation is met, the increase will be more robust. But I don't think the price will drop below 20k. Because we left those times behind. As we get closer to the halving, the anticipation rises, but I wait for a solid correction in the price first.

We must know that every price movement scenario will not be the same every time before the previous halving, so even though they predict the price will fall significantly before the halving, it is not certain that this prediction must be trusted. Even though the price is dropping going forward but the market price position will not be below the expected 20k, the crypto market is currently trending positively with a fairly good market recovery from the previous 25k price, we just need to wait for the next bullish moment to reach 40k before the halving.

Quote

I wonder what predictions will hold up towards the end of the year. Negative news should not be made in the market. Good times await us towards halving.

My lowest price prediction until the end is 23-25k but if the positive trend persists then the price of 40k will be reached until the end of the year, I expect a positive market trend position until the end of this year because there is a high chance the market price will reach ATH after the halving.

flyingcarpet

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Quote from: fuguebtc on August 12, 2023, 04:59:48 AM

Quote from: Stedsm on August 11, 2023, 04:52:12 PM

A huge chance is there for BTC to get there again before making any new highs because there's not enough strength seen in BTC against USD and dollar index will also get one more retracement above 110 before it settles down back under 98 and less, so there's currently a possibility for us to see BTC under 20k (and even this year's low of ~$16500).

I have been thinking about that scenario since the beginning of the year when many experts said that inflation would continue to increase in 2023. But so far, what we have is that inflation is slowly cooling down and the Fed isn't going to cut rates anytime soon, but they're going to have to stop raising rates madly soon. Therefore, the chance for the DXY index to rise again is very unlikely, I think in the rest of the year the USD index will drop much. So very fragile and unlikely for bitcoin to drop below $20k, IMO.
Bitcoin will not recover quickly and there will be a correction until the halving takes place. But it won't be able to drop below $20k again, we had a bear season bottom of $16k last year.

I think Bitcoin should drop to expected levels before it goes up. Because when the expectation is met, the increase will be more robust. But I don't think the price will drop below 20k. Because we left those times behind. As we get closer to the halving, the anticipation rises, but I wait for a solid correction in the price first.

I wonder what predictions will hold up towards the end of the year. Negative news should not be made in the market. Good times await us towards halving.

fuguebtc

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Quote from: Stedsm on August 11, 2023, 04:52:12 PM

A huge chance is there for BTC to get there again before making any new highs because there's not enough strength seen in BTC against USD and dollar index will also get one more retracement above 110 before it settles down back under 98 and less, so there's currently a possibility for us to see BTC under 20k (and even this year's low of ~$16500).

I have been thinking about that scenario since the beginning of the year when many experts said that inflation would continue to increase in 2023. But so far, what we have is that inflation is slowly cooling down and the Fed isn't going to cut rates anytime soon, but they're going to have to stop raising rates madly soon. Therefore, the chance for the DXY index to rise again is very unlikely, I think in the rest of the year the USD index will drop much. So very fragile and unlikely for bitcoin to drop below $20k, IMO.
Bitcoin will not recover quickly and there will be a correction until the halving takes place. But it won't be able to drop below $20k again, we had a bear season bottom of $16k last year.

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Quote from: OgNasty on August 11, 2023, 04:04:48 PM

If you’re comparing charts to previous cycles then there is typically one more large correction before blast off. This could happen anytime in the next 10 months. It could be from some news event people overreact to, or more likely to me is that it could result from profit taking after the halving event. I urge people to strongly buy if that does happen.

Possible and this is where some people is really up to or looking into on which they would really be that waiting for that huge correction before the bull run would kick in but usually it would really be happening after the halving event. Most of us would really be having that impression that there would be some sudden jump or rally before the halving approaches but its true that 10 months from now or on halving event then we might be seeing the different or similar thing that happen in the past where corrections or price declines happen but then later months then it did make out that huge jump.
It is really just that good to see some old threads in speaking about those previous ATHs which lots of people been speaking or talking if ever it would be able to break its ATH which is we are now comparing to 69k on which its latest ATH but now we are down +halfway more than which it isnt really that too far off to break specially if the market would start to rally out.

mv1986

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Quote from: Stedsm on August 11, 2023, 04:52:12 PM

A huge chance is there for BTC to get there again before making any new highs because there's not enough strength seen in BTC against USD and dollar index will also get one more retracement above 110 before it settles down back under 98 and less, so there's currently a possibility for us to see BTC under 20k (and even this year's low of ~$16500).

I'd say you could be right here. I don't think the chance for Bitcoin to drop that low is very big, but it could be one of those whale moves to manipulate the price down so much that people get shaky hands and sell straight into them at the new bottom. They understand how to quickly turn the market mood around again. Let all the big guys in the industry just go silent for a few weeks and dump Bitcoin to hell. Everyone would panic and get no answers from anywhere because everyone pretends to not know what's going on. They could then get the crowd going again by showing up with promising stuff and buy support. Since I still think that Bitcoin is a whales' playing field, it could drop to the 20k range again, but not really because of fundamental reasons that would be in line with what we have seen in the past when Bitcoin had negative or positive breakouts. At least I couldn't think of a coherent narrative that would justify a drop to 20k and lower.

Stedsm

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A huge chance is there for BTC to get there again before making any new highs because there's not enough strength seen in BTC against USD and dollar index will also get one more retracement above 110 before it settles down back under 98 and less, so there's currently a possibility for us to see BTC under 20k (and even this year's low of ~$16500).

Falconer

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Quote from: OgNasty on August 11, 2023, 04:04:48 PM

If you’re comparing charts to previous cycles then there is typically one more large correction before blast off. This could happen anytime in the next 10 months. It could be from some news event people overreact to, or more likely to me is that it could result from profit taking after the halving event. I urge people to strongly buy if that does happen.

I also think that that is the worst case scenario that investors need to consider. Even if they believe that there won't be a bigger correction in the next 10 months leading up to the halving, I think DCA is a good strategy to consider. While it's good to maintain optimism and confidence about the best price ahead of the halving, some past patterns also can't be completely ignored especially if they really want to build a good investment portfolio.

I agree that if a big correction in the next 10 months does happen, then I hope accumulation is the option that the average investor really does. But let's hope not, it must be better.

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If you’re comparing charts to previous cycles then there is typically one more large correction before blast off. This could happen anytime in the next 10 months. It could be from some news event people overreact to, or more likely to me is that it could result from profit taking after the halving event. I urge people to strongly buy if that does happen.

dewi91

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I am not sure bitcoin can reach 20k again especially if we see the current market. This year bitcoin can't reach over 8k and I think this condition Will last until the next year.. bitcoin ever reached 20k doesn't mean it will happen again because may in the next year the popularity of bitcoin Will go down.

ErnieRox

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Quote from: ErnieRox on October 18, 2018, 05:21:41 AM

might see 5k or 5500 first but hopefully not Tongue

5500 or 5K, 3500 lowest, best time to buy is in these prices

bitcoin31

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They have possibility the price will reach again 20k dollars or not. It depende on the people if they trust again to bitcoin if they invest again to this coin price start to pump but if not for sure they have a lot of people who are selling their bitcoin. Everyone has an obligation to pump bitcoin because once it pump we will get more.

wxa7115

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I do not have any single doubt that bitcoin is going to reach that price again, in fact it is entirely possible that in a decade that price is going to seem very low, because the amount of people that have adopted bitcoin is very low so the potential for bitcoin to keep growing in the future is incredible and when we take into account that the economies of the world are very weak and that their currencies are even weaker then I cannot imagine a scenario in which bitcoin doesn't reach that price again.

What we need to ask ourselves is if bitcoin is ever going to reach enough adoption so we could use it in our everyday lives without anyone being surprised that you are using a cryptocurrency to buy a product or service.

jeniferqueen0409

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Quote from: harnorno2 on November 07, 2018, 06:44:29 AM

One day, I believe it will exceed $20,000.

5 years ago, people did not believe that bitcoin is worth hundreds, or even thousands. Never forget, my friends.

Five years ago the bitcoin had reached hundreds, even $1000. Why do not people believe? You confuse the time, it should be the story of 6 years ago. Grin

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For how many times bitcoin has been in this same position,couple of years ago the value of this great coin drops almost the same situation but look what this climb in 2017?getting the highest price of all time.so i never doubt the capacity of bitcoin and ofcourse the whole cryptocurrencies.and all the people who doubted this will surely feel the bitterness of niot trusting the technology of cryptocurrency

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Quote from: BigTeeths on November 07, 2018, 02:03:53 AM

It will not. If only the Etf decision really happened and a few were approved then we could see the price of bitcoin heading towards it. But no, it was a deceiving article trying to sell a news that they hope to be the start of the FOMO. I'll be skipping my hopes for this year and we'll what Fidelity will bring us.

We do not know what will happen in the future. Sure if we look at it today, due to bear market, it is almost not possible but, did you ever think how those people thought way back when Bitcoin were less than $1? It is way more impossible to think that Bitcoin will touch at $1000 USD and yet it surpass that price and now is currently at 6k plus USD.

I am incline to think that it is very possible for Bitcoin to reach 20k USD and will even surpass it considering the adoption and the halving of rewards. We must not be near sighted instead look at the future and the possibilities.

Topic: Will Bitcoin ever be 20k again? Why or Why not? (Read 1773 times)