Bitcoin Forum

Will btc drop to 27k?

This sort of low effort post isn’t welcomed here.
You could have as well gone to the speculation board and ask this as a question within an active discussion thread on the subject and someone is sure to note it and respond.
I’ll like to believe you could do better and I’ll urge you to ho about doing that.

Mind you, no one can accurately tell if the price would drop to $27k from its current position at $29k, $27k is very possible.

There are two answers, it can happen and it can not.
Move to the speculation board by pressing the move topic menu in the lower left corner of your screen.
Because there are already many topics around Bitcoin price speculation that are already available, if necessary, look at this topic and join the discussion on the existing topics.

In July the open price of Bitcoin was $30,481 and it has not yet dropped to a price level below $29k. The lowest price in 30 days on the chart was $29,045.

https://talkimg.com/images/2023/07/28/QLnHl.png (https://www.coingecko.com/en/coins/bitcoin)

Because prices cannot be predicted for sure, that's why I said there could be a decrease to $27k and could go up above today's price.
Use the DCA method.

Are you a long term investor or trader? If you are a long term holder, what is the difference between $27k and $29k? I mean, the difference is not too big for you to consider and you should use the DCA strategy instead of waiting. If you are a trader, I think you should analyze and draw your own conclusions instead of asking someone. Bitcoin has always been, it remains unpredictable and no one will have a crystal ball to answer your question.

It all depends on the demand raised by people to acquire Bitcoins. We know Bitcoins are limited in numbers; hence, if the demand to buy or acquire them increases, in order to meet the demand, the price goes up. Similarly, the reverse also happens when demand is low and the price falls. Now if we see Bitcoins struggling in the 29k to 30k USD range, So yes, there are both possibilities that Bitcoins might fall to 27k USD or even rise in price.

The supply of bitcoins is indeed limited, but not so much that it is not enough for everyone, at least not right now. Yes, demand influences the price, but not because of deflation, but because of expectations that the price will fall or rise. I think 27k is likely because it's not much less than it is now. For example, if there is a market panic, the price could fall even lower.

If we will say yes, do you have a strategy?
If we will say no, do you have a strategy?

You are creating a thread with a low quality post on it. Just asking a question? For what reason? Will you make a move if it will goes down below $27,000? If yes, then good for you, but just to take note, we can't predict the market, and no one can, so better make a plan if just in case that price will be reached a few weeks from now because it seems like the momentum of Bitcoin towards the upwards is slowly fading away, and we've seen some drops on it's price already. Right now Bitcoin is at $29,200, so it seems like the $30,000 will act as a psychological resistance again in the short term, and $27,000 might be the support.

Either way, I hope OP will make a strategy base on what we are saying.

No one will never know for sure, but you have to look at it this way. Prior to the uptick to $31,000++, during the big hype around the Black Rock news, the price of Bitcoin around around $26,000-$28,000 give or take. And now that that hype has gone or somewhat it the news has been buried, there could be possibility that the price could go back to where it used to be, around that price and then we might see a sideway pattern again.

So that's how I see it for now, so again, this is just my wild and educated guess that there is a possibility that it might return to that range and there could be a price drop. Nevertheless, everyone is welcome to his own opinion and may disagree with me.

Yeah, The 29K price support is holding up well for the last couple of weeks since Bitcoin keeps bouncing back whenever the price reach that level but right now the price is consolidating near the support which means that there’s danger for a potential price slide when the start of the August turns bad with the FOMC interest rate new high.

27K is still far away but it’s really very reachable once bulls lost total control on the trend. Many is hoping that there will be a price recovery next motnh after the FOMC vmeeting impact to the price.

Answering the title, It’s possible but not guaranteed

I have reviewed your previous posts and it seems that you are a new member trying to learn more about Bitcoin so say your thoughts without fear and your vision in the direction of the price, we can discuss whether or not it makes sense or not more than general statements like what happened here.

I do not think that we will see the levels of 27K, because the factor that was negatively affecting the price is the interest rates, the effect of which ended with the Federal Reserve raising interest by 25 basis points, which the price calculated in the form of a decline. Therefore, before the end of the week, we will return again to the levels of 30K with a relatively long period of stability .

Stocks has somewhat rebounded form the positive news about the FED interest rate. And the price looks very strong at $29k and up. So I also don't see a decline unless we've seen another round of negative news.

And for me, $30k is a great price range, it's a round number and we all know that it's difficult to break that price. However, if again we reach it then maybe we can go up a notch and break that $31k and sustain that run. So for now the biggest barrier is $31k and that will be then next target and not a decline to $27k or lower.

I very much doubt that. You've actually did a good job answering your own question. Nobody who is a long term holder will not write a post like that.


Because the stock market knew what the FED target was for months now, so the rates are already priced in. What we're observing is investors trying to stir the market and capitalize on any panic they can cause before every FED meeting. We can't blame them, it's how they make money.

I don't care what they manage to drop bitcoin to in the short term. Selling it now is selling to BlackRock and other big investors who know what's coming. The closer to the halving we are the more people will decide not to sell and then you'll see what happens.

The answer is we don't know and it could be. We can only follow the market movements and continue to be prepared if a deeper decline is imminent. Meanwhile, the Bitcoin price is still at the $29k level and is still getting red this weekend so there is a possibility that the decline will continue as usual.

But if that happens, what will you do? Are you going to panic and sell all your Bitcoins? I hope you don't because it is a loss you will regret because the price of Bitcoin could immediately increase and return to its high price again.

It's better for you to be reasonable and follow the market movements and prepare your money to buy more Bitcoins than before. It was a great move to start buying Bitcoin during deep downturns. We probably won't see another low in the future, so take your time buying Bitcoins.

I see that price is in demand right now, because we are not getting any smaller and right now there is attention towards it. There could be some people who think it is going to do a lot better but we need to realize that it is not going to be that easy and we should be happy that it is going to get better.

I know that it will not be that simple and we should figure something out, like we need a "reason" for it to go up, and until that happens we may stay around the same prices but I bet that's going to happen one way or another. We just need time, if we could give it some time then I bet that it is going to be fine. I know that it will take some time but if we wait then it means we are going to get closer and closer to it.

OP, given the depth of your post you probably shouldn't be in this game.....
 

I suspect you are taking risk with money you shouldn't be.

Whoever can wait and be patient with it, then he is the winner.
We are getting more and more with the new ATH, if there are some corrections happening it is very natural.
Even as low as $27k might happen, but we need to be prepared with our reserve funds.

Buy and hold for the long term, it doesn't get any better than that.
We just need time to reach the main goal which is the new ATH. Everything will be fine.

This is a typical questions to those who are still not familiar with Bitcoin.
The market is unpredictable but its good now that the price is more stable compare to previous trend and seriously, no one can tell because the price can go lower or high depends on the market sentiment. Let’s just hope for a more solid trend so that Bitcoin can finally break the resistance and not the support level.

I still have that feeling it will, $29k and $27k are not very distant to each other but I hope you are not asking this question to jump right into thread. Dyor is important . However, looking at the weekly and monthly chart, RSI and MA are still looking bearish so on the long run maybe we can see that support of $27k down to $25k. For now, trade what you see and don't rely so much on speculation.

Bitcoin may briefly reach the 27000 mark, but for that to happen, negative news has to emerge. As we can see, the Fed rate hike did not lead to a significant drop. So, there must be some extraordinary negative news. For example, the opening of another case against Binance or problems with USDT.

No one knows it, but I assume it won't happen. Bitcoin price already survive above $28k for more than 1 month, it indicates the resistance point above 28k is strong enough. Lately, Bitcoin looks like in the sideways phase, the price moved around $29k - $30k only. We may see that Bitcoin to drop again to $28k or it will move above $30k again in the next few days.

By the way, what is your own analysis? Please make an effort before asking others!

That isn’t outrageously far below the current level and would still mark an annual gain so it isn’t out of the question. I’m sure it would only take a little bad news to get there. Will it stay that low and continue to trend lower? I don’t think so. I don’t think many people are worried about such a small move though. If you’re investing for a several hundred percent gain you should be willing to deal with a 10% loss. 

If you are asking this in the near future, I would probably say no at this point because at the moment Bitcoin is always keeping itself at $29K+. But if you ask this question for the next few months, maybe it will drop to that price if Bitcoin doesn't go back past $30K or beyond $35K, because my prediction for Bitcoin price at the end of this year is $40K if there were no more severe crashes in the market during this year or anything that could affect the price in general.