Bitcoin Forum

BTC rebounded quickly, shouldn't it fall below $20,000? Good bargain hunting opportunity now.

Polkadot Slot continues to be auctioned, and so many good news continues. Volcanic eruption is coming!!

Buying DOT, KSM, PHA, Do you have any other good advice in Polkadot?

X-Predict Polkadot Web3 project, predicts the market leader.

https://pbs.twimg.com/media/E6KmF2dVEAESnxG?format=png&name=small

If bitcoin goes $25k then it's going to get there. But it didn't go through under $29k so it's expected that it's recovering and it won't fall below $20k as what you're asking. As for that good news in the market, they keep coming and maybe in the next few days, we're going to have good news about bitcoin and it's going to come up with the recovery and it will be continuously going back to the price of $40k and up. But the question as it goes to $31k, will it keep the price and move forward or it won't and back to $29k again?

I am very optimistic and just like you, that bitcoin is currently in a fairly stable position for a while with a price range of $29K-$41K, this is certainly good news. so the chances of moving up with the good news will be easier than if bitcoin dropped below $25K.

very confident that the good news that has begun to appear one by one will make investors more confident and can provide a boost so that bitcoin can reach its best level this year and renewable ATH is not impossible to create again.

I'm still not sure bitcoin can fall like that. because if you look at the bitcoin support point, it is at 30k. and it lasted quite a while, even after the china ban the prices stayed there. now the effects of all that have begun to fade. so there is no more reason to make bitcoin fall any deeper. unless something else bad happens to the bitcoin market. if that happens then the price of bitcoin could fall below 20k. and that would make the altcoin market very scary.

Yes, that's right, with BTC dropping to $20k, those who invest in them will be seriously threatened in their market assets, because they don't want to feel bad again in their market assets.
and this kind of thing has happened repeatedly in the BTC asset market.
this is a serious thing in the crypto asset market, and why this sort of thing keeps repeating itself.

If Bitcoin can go down to $29,000 from an ATH of $62,000 in two months, then it is definitely possible for it to go from $29,000 to $20,000. You can check the historical charts for Bitcoin. Back in 2014/15, in a few months time Bitcoin crashed from $1,200 to $200. And the same happened in 2018, when the prices came down to $3,000 from an ATH of $20,000 that was achieved in 2017. Volatility is a part of Bitcoin. If you want to be successful with your BTC investments, then you need to know how to effectively deal with it.

I don't think now is the right time to start hunting for altcoins and start investing in them. If Bitcoin was to fall further below $20,000 then as altcoins will fall further. The alternative market is currently very unstable for altcoins as that of Bitcoin is currently taking a beating. You can pick some altcoins that are currently oversold and keep an eye on them waiting for the opportunity to grab them at more discount when Bitcoin fallen, no need to rush.

Bitcoin can't withhold that support level at $29,000 it's holding for long, soon it'll fall and that corrections will take it below $20,000 but an immediately bounce back will follow since at that price is Bitcoin support many traders are targeting to get some Bitcoin at.

I think the price of bitcoin will not reach $ 20,000 because bitcoin holders will not stand still if the price of Bitcoin reaches $ 20,000. Recently I saw that Elon Musk, Jack Dorsey and Cathie Wood were discussing Bitcoin, I'm sure they want to make the Bitcoin price go up again because the bitcoin price is already down 50% from its high price.

We saw a lot of swings and this recovery is a very good move to watch. We're about to wait for the next move and we don't know how long it would take for bitcoin to get to $41k but the optimism is still there and it's not that the same anymore as before that it will take a lot of time for it to be there again. We're all confident whenever we see bitcoin moves up again after being too stagnant for so many weeks. This time, it's gotta be moving positively and the news will all over bitcoin again if it happens to recover largely.

I don't think BTC will go so low. It's going up again and it has a chance to be back on $40k by the end of the summer if not sooner.

was it the result of their meeting?
what if they plan to make the market price go down and then they can buy at a lower price?
they are entrepreneurs, they think profit for their business. not about the assets you have.

there is still a possibility that BTC will fall very far. but we can see it all happening gradually and continuing with rapid improvement. This kind of market is very much enjoyed and favored by those big asset holders in the market.

to reach below $20k, I don't think anyone knows, although later on there will certainly be some correction in the wave. especially at this time as if there is no more negative news about bitcoin, so of course it will happen gradually. on the other hand it is indeed an opportunity for the whales, but is it that easy to guess the thoughts of the whales

that depends on what will be the result from the meeting between jack and elon. So many bitcoin holders will be watching it and then they will take a conclusion from the meeting.
If so the result from the meeting will be met all of expectation by the bitcoin holders and im sure that if bitcoin can reach 40k again in the next season.
This is a very important event.
I hope the result will be good

The good news is that bitcoin has rebounded above $31k right now.

And so is the other major alts following it's path as well. So I would say that so far, the strong support of $30k has withstand another test. And it's obvious, that when bitcoin goes down to $29k, there is a possibility that it will test the next big support at $25k, but it didn't happen.

So yeah @$29k, it should be a bargain hunting and hopeful those long term investors has bought it around that price. And perhaps they did as the price goes up in the last 24 hours, around 6% increased.

The average buying price for Microstrategy's Bitcoins is around 23K. The support at 30K has proven strong but if it goes in the 25K-30K range, then it can go much lower than 20K itself. This will be pretty catastrophic and it is better not to contemplate such a scenario, LOL.

Though we have already seen big moves from Square in both bringing DeFi to Bitcoin and Musk to his senses. If these turn out to be successful then all those "bargain hunters" are going to be disappointed. LN is already proving itself out in the wild with people running nodes and making transactions. The time is ripe for the Big Daddy Bitcoin to bring the children home. At such points, it is generally never a good idea to gamble with Alts. Just my two cents. This could all as well happen in reverse.

None of this is financial advice, of course.

Just watchout the strong resistance level as it could be a fakeout or breakout. But mostly people wants more dip before another bullish rally so that they could buy more alts just like OP mentioned. But hype of polkadot isn't having that much effect, though it was hyping up the market earlier in this year. So better for all to monitor bitcoin's price movement before buying any alts as bitcoin can hit $20k or less if it's dumped into $25k price level zone, IMHO.

I'm excited about today's situation, despite the technical characteristics of the decline and accompanied by some people spreading it to intentionally create fud to gain advantage over their early short selling process.  Bitcoin is strong again by the most quintessential features, some highly leveraged people have missed the bull.
The new cycle, the wait at 20k$, 25k$ is hopeless.  It will be around 50k this month.

If you believe and are consistent with these thoughts, then please wait. we wouldn't really expect to fall that deep. because for us $29K is already a pretty big discount. depending on how dare you take part in the price.
for us there is no time to wait too deep, because learn from the past, then you will not waste a price when it is under $30K

Yes, according to my estimate I don't think we may see BTC price around $20k because on technical basis there are some strong support levels above $20k price range which are looking quite difficult to be break and currently the market seems in a positive way so on this basis I don't think BTC will go much down.

I don't think it's like that because more or less people will feel disadvantaged by the impact of inflation that occurs, such as price increases in a product because if basically people with fixed incomes will feel tormented if inflation occurs because the income they get is not proportional to rising prices product so that they will feel aggrieved for it. and this is only from one sector, there are already some people who feel the impact of inflation.

Right from when the market took a bad turn which saw Bitcoin dropping very low, a lot of people believed it was a case of manipulation from the big players in order to accumulate more but what keeps surprising everyone is the fact that even when it dumps, it also bounce back, therefore with this little experience so far, one can hardly predict if Bitcoin will fall below $20,000 at the same time, when it will start another growth again since it is becoming clear that Bitcoin hardly follows any prediction.
Also, in the case of Polkadot, the project has already done well which is the reason a lot of good news are still coming up, but looking at the market in which sentiment as well as fud are playing a big role, one need to be careful of when to start buying unless the person is a long term holder.

Depends.

It can always go even lower or... maybe this is the dip and it is going to bounce from $30k to $100k. Nobody can tell. As long as you keep your portfolio risk at manageable levels, you will be fine. Also learn to take profits because you'll never know when the markets are going to tank next time.

Well now do you see the opportunity that it brought to people?
It was kind of insane rebound anyway, but it should not be that much surprising to all of us.
I expected these kinds of unstable rebounds back when Bitcoin also plummeted around 29k like couple weeks back.

no one can guess the price of BTC correctly, because in the cryptocurrency world anything can happen, but I don't think BTC will go down to $20 it is a very low benchmark for a very valuable coin, I think if the demand to buy before the $20 price  increases it will make the price of BTC skyrocket again,

I dont think so, 25k is very low if its happen. People are start to buying like crazy if its fall below 20k.

There is still the possibility but it's probably not going to happen anymore. The bounce back is expected to happen since there are going to be probable good news for bitcoin coming from the known people like Jack and Elon. I have no idea what happened to their talk.
But maybe something has happened and it reflected to the market.

It could be, theres some gap that needed to be close for a healthy rise move. Its can just be a wick or something i didnt really know.
But for sure if we are going to that position, we are ready to go back up since many buyer would catch the price.

I doubt we are going below $20,000 USD. The $29,000 USD support held well. The price bounced back and reached almost $33,000 USD. I guess we are going to stay around this level until the end of the month. The more the price crashes, the more opportunity for buyers. We have already seen this as people already started to buy as soon as the price went below $30,000 USD. The upcoming months are going to be really interesting.

Bitcoin doesn't follow any news or announcements. We just make it as our wishes, but some foolish investors start to follow them. If there is any reason to fall this quarter, I will believe, but in the last quarter it will definitely not drop 20k. Because as my prediction, the market will rise between 3 months and in 1-2 months correction time will be over.

All our taught or points we portray here lies on assumptions, because right now you can't stand firm and predict the price of cryptocurrency, Because bitcoin the possibility for it to fall back to the initial point or values is there, and the possibility for it to Speed up to a greater heights is also there, from my observation and areas of concentration via cryptocurrency the increment in price and more especially bitcoin in particular is the marketcap...the marketcap of crypto determine it's magnificent values or maximum values and also minimum values, because the price of crypto can only come in boostup based on if the demand is higher than the supply's,

But just predicting via assumption if the price will go less than twenty thousand dollars (20,000k) within some years, months, even in feature, is just like imagination, actually what really increase cryptocurrencies prices is due to bull market, and from my perspective, this bull market always magnify within interval of four years or three (4-3) before another occurrence of crypto market speed up.

The price of bitcoin is higher than $25k for now but if it will continue to  fall, then dropping to $20k is very possible. Having good news in the market might not a guarantee that the market value will not fall but somehow it will help though.

I have high hopes that bitcoin will bound to recover after its long bearish season. And maybe by this time, it will reach new ATH exceeding the amount of $60k. But the question is how far bitcoin price will fall? Once it reaches $25k, for sure it will go down to $20k.

People will always make different prediction about where they see the price going,  sometimes or most times market will go a different dimension from what many people expect to see, I like to be optimistic and believe btc won't go as low as many people believe, this is 2021 and not 2018, there have been tremendous changes in btc awareness and acceptance now than before which should be a point to consider, this is time to buy any of the cheap good coins out there before is too late.

It is such an awesome feeling to see bitcoin recover, I really prefer it recover than see it same. What was bitcoin just a week ago? It was always around these prices, but what happened in between really makes me feel a lot better. I rather see bitcoin go from 32k to 28k to 32k again instead of staying 32k for the whole duration, it just shows how awesome bitcoin is and how people still believe that price is cheap right now and buying whenever it goes down is a great discount, even this topic is a proof of that.

As long as people see bitcoin as discounted instead of dropping that is just pure satisfaction for me. Unfortunately I wasn't really at a level where I can buy some more, financially I am not doing great right now, not doing bad neither don't get me wrong, but I have my money tied up with some other stuff so I couldn't buy more, but I do wish I could have gotten some under 30k too, it was just way too great to buy at that level.

Polkadot is one of the promising new projects this time (just for me), worth investing if ever you had felt the same. But I don't consider this for long-term investment, I was still preferred for the old coins.

For now, it was somewhat good looking that still has a few new coins that can be trusted but, we can't be in full confidence that they will survive during a crisis. We still have to monitor its trend to further evaluate the capabilities of that particular project otherwise, we might be surprised that our money was gone.

right now you are saying exactly the same thing with others, the question is that in what measure can a bitcoin maintain a specific price or stick on one range of values? Definitely bitcoin price can be lower than the price it's now, and it can equally increase more than the price, if Bitcoin keep on going up without decrement it will seem as it's under care of someone, and people will be feeling that cryptocurrency is no longer a decentralized currency, so the unsuitable prices of cryptocurrencies make cryptocurrency relevant, because right now it's obvious that it's price can equally return to zero.
Yes it's encouraging to advise someone to buy a coin and store for some intervals before it will increase, a coin is good to purchase when is at lower version of price.

Personally, I doubt he can fall that low. There is too much talk around Bitcoin, too many funds have bought Bitcoin, too many media personalities talk about Bitcoin.
I think that if it falls below 30 thousand it will lead to the fact that all of them will start buying it up like crazy.

With the recent spike on BTC, I really doubt it would be below 20k. Global economy are hit with several hyperinflation and big institutions are hedging over to bitcoin.

Yes! I hope so~ BTC has raised in $30,000 yesterday,ah good news for Elon Mask? I dont like him

Btw we need to learn and play with new projects and their producets. just like i play games with defi and get more returns

I dont like him, but he is very helpful for BTC and cryptos

I see that and that's why some big companies or even banks started to hire more and more blockchain developers. it looks like we are going to transition from the traditional economic system to the modern economic system.
I think that if the price of bitcoin will not able to reach such a rate caused by the various reason. it looks like bitcoin will be going so crazy started from this year
The mass adoption is about to come very soon as predicted by so many people

Here I have 2 cases:
  1. BTCD continues to rise to the 52-57 mark.  BTC drops, Altcoins drop a lot
  2. BTCD corrected 5 spans, previous prediction was incorrect, dropped to 26%

there is a chance it will happen in the future. but looking at the current market conditions which look stronger than the market conditions a few years ago after the pump dump immediately occurred. I'm sure we won't be seeing it any time soon. after correction, there will be improvements. and this situation keeps happening several times. there is more potential for regrowth, but at a slower pace, I think.

well, the current price is still very close to the $20k range, so I think the potential is still quite large for bitcoin to be below that price. only, I also have the same hope as you. I still want to see the bitcoin price above $40k in the near future. however, at the moment I'm not paying much attention to the bitcoin price. I only focus on collecting assets, because I believe that the price of bitcoin will pump.

The keyword is "could", but it didn't dropped to $20k because I don't think that investors are looking for that kind of price. But it's possible to go down, but if there is really a bad news, just like what we have seen last March's Covid-19 effect.

Now we are back to $32k, and the Dorsey vs Musk debate turns out to be positive in short term as we have bounce back again above $30k.

This day, the bitcoin price increase to $31k and already touch $32k so if the price goes down, that will not so soon unless there is negative news that comes and make people panic. Yes, we all want to see bitcoin prices above $40k, even more than $60k, but bitcoin prices still need more time to reach all that high price. If the price can be up and down until the end of the month, maybe we can make a nice profit and we will have a chance to accumulate more bitcoin later.

I don't see any reason for us to be pessimistic about bitcoin going down to the 20k quagmire?  We have gone through many FUDs with china, carbon power, grayscale, ... all progress supported by user base at 28k-30k resistance like previous dumping.  I believe in bitcoin's long-term super profit, I believe that the true believers and hardliners at this stage will see the green soon.

Bro, every altcoin will be pulled down when Bitcoin falls. Most of the altcoins out there are still leaning over the market of Bitcoin and whales will do the same to every altcoin they are holding. I don't call it panic but a trading strategy for them.
Sell while the price is not moving down heavily and buy again at a cheaper price and that includes every asset they are keeping.
You could just try to buy at that point but never in midway. If you see a bear buy it, then wait for another bull.

But this kind of FUD will still continue no matter what and we all know that this market is full fo manipulators that will do everything to pull the price down, so it's going to be a battle between the bulls and the bears. So far though, the bears has the obvious upper hand because we are down now like -50% from last all time high.

Long term though is a different story, just remember that last March the price is around $4k, and now we are in $32k. So in a span of more than a year our investments grow X times.

People started to dislike him with his attitude and statements against bitcoin but I guess we've got some news already about him with what he recently said about bitcoin again.
(https://www.bbc.com/news/business-57924354)
(https://www.cnbc.com/2021/07/21/elon-musk-says-tesla-will-likely-start-accepting-bitcoin-again.html)
Another good news is that Tesla might accept bitcoin again. I guess that's already the hint that it will for surely going to happen.

It's too soon to conclude that Bitcoin will go to $20k, I still believe bitcoin is still bullish and $30k area is the current support area, as long as bitcoin is still holding above $30k area, the possibility bitcoin going to $20k is very small,
I'm not really interested in polkadot, there are many better ones than polkadot, for example like Cosmos or Solana, these two coins are more interesting than Polkadot because of ecosystem and also technology they have.

I am not sure whether Bitcoin will reback to $20k but the possibility is very low. Already started recover the market price from yesterday. DOT, KSUMA are good coins and i think both will be one of the top investment choice to me and also to the many investors. I will definitely hold both of the coins and i am fond of the both coins.

there are many speculation arises that bitcoin may drop at the value of $25K and its quite difficult to be true that the price will go down below $20k. Statistically as shown on the market there is no drastic drop below $29K.

Cryptocurrency pump doesn't deserve only 2.5 trillion USD this time. Bitcoin shouldn't dump 20k USD in a short time. The last Bitcoin pump started from October to May this year. Running correction time could take more than 2 months as my experience. I know I can read the market but I don't want to predict because so many investors could lose everything. Investors shouldn't wait to $20,000 because we all can't take the top opportunities.

It is not impossible to drop Bitcoin below $ 20k. Cryptocurrency is like that. It's hard to predict anything in advance. Bitcoin is slowly dropping for a long time. If a little more drop $20 k. We need to be mentally prepared for this.

I think that after the conference with Elon Musk, where he claims that he holds Bitcoin, Ethereum and Dogecoin, as well as his team and company do,  we should expect a growth in Bitcoin price and in Ethereum and Dogecoin as well. So talking about the nearest future, I consider it to be under 30 000$. But to my mind, the bear market hasn't finished yet, so we can see even 20 000$. So let’s wait for better prices to buy.

I think it's going all the way down to $15,000 and will stay there until the end of this year at the earliest and then perhaps get talked up via social media then fall nearly as rapidly into next year.

FOMO investors who follow the prophets/profits of social media have already been burned very badly and won't come back anytime soon.

The last drop for bitcoin was at $29k and then it goes up surging. But the fact that bitcoin can be very volatile and any negative news that come, bitcoin will be directly affected. So there are still chances that it will fall down into $20k and maybe it will start to rebound from there.

However, if there will be continues update for positive news, then bitcoin will not touch $20k anymore. It will start heading into bull run and its previous ATH from $60k might be even doubled this year. So just keep your faith  in bitcoin.

Nope in my personal opinion because it already break out the support after how many days of being stuck above 30k, as of now perhaps 40k isn't enough as it rapidly increasing and in fact i don't see any negative news about bitcoin today and since it made a sudden increased few days ago. so probably there's a high chance that bitcoin will continue to surge within this week base on the percentage and percentage in the market..

Some people has taught that btc will be dumped to below 29k mean it will be betweet 20k to 29k it will be great ever opportunity to buy btc because too much buying are placed betweet 20k to 29k so wait for this awesome opportunity.
Buying polkadot below 10$ will be really profitable for everyone because it will be hit his last all time high

we have to know what will bring the price of Bitcoin back to $20k, I think it will be impossible again...

see how the price of Bitcoin bounced back from $29k after a discussion held by jack dorsey, elon musk and 2 other happy endings. jack dorsey and michael saylor are advocates of bitcoin, they will definitely not make the market bear again and will continue to try to make the market positive always with their tweets.

To be realistic here negative news could come any time. It is not like negative news get announced in advance because if that is the case, the negative news will immediately be priced in. For now I also don't see any negatives waiting for us, but it could be a political decision that is being made behind closed doors or news from the FED and others. I think that we are good to go for a little while now without surprising news that could have an impact on the cryptocurrency markets.

Agree, people are start to shorting and longing whenever they see strong support or resistance. Its make the price bounced everytime the price touch it. But i dont recommended do futures trade since its very riskful, buying any dip on spot are more wiseful thing to do.

Influencers have got the ability to move the market. These influencers will crash the market someday. Based on that I'm sure bitcoin will reach $20k, if the discussion weren't conducted on 22nd the price could've reached atleast $25k. With the bitcoin anything is possible. Let's move with the market and make use of opportunity if something happens as we predict.

Why don't you recommend futures trading on this occasion? is the risk greater than those who buy when the correction arrives? because I've also found the one who lost during the correction this year, and maybe it's because he's impatient.

For now, BTC is rising to $ 40k, it is very likely that it will continue to rise, and what sounds the most is that small-cap altcoins can shine in the market, as many who are buying these coins are taking advantage of it, this articlep describes it:

Small-cap altcoins push higher as Bitcoin bulls fight to hold $40,000

https://i.imgur.com/DZuo34D.png
Source: https://cointelegraph.com/news/small-cap-altcoins-push-higher-as-bitcoin-bulls-fight-to-hold-40-000 (https://cointelegraph.com/news/small-cap-altcoins-push-higher-as-bitcoin-bulls-fight-to-hold-40-000)

It is a good option to be able to invest in small-cap currencies, although it can be a double-edged sword, you have to be very careful. and as BTC is trying to fight to stay at $ 40k it is possible that this scenario for the highs will occur.

That's actually funny to read this now. I don't think BTC is gonna fall to the $20K again. It might even get to the $50K in August i guess.

Yes whenever Bitcoin reaches a certain level of stability, which it now seemingly did around $40k, a good amount of money is going into the alt coins. Those are some nice gains in the table and if you go down the list on CMC, it looks quite greenish for a lot of those coins. It's more important now though that Bitcoin can defend that level for a while.

I doubt. So many big guys who turn over large funds bought bitcoin for 30k + not to watch their investments lose almost 50%, I don't think so. Most likely, we will not go below 25k.

In the past, there was nothing except bitcoin, and a couple of altcoins, now everything is different, there is more money in the market.

Adoption is on the move as the year progresses and its not surprising that in terms of money circulation then theres really much bigger compared in the past... No matter what the price is
or trying out to chase the bottom its really unpredictable but due to technicals and other tools then we do really have some glimpse or idea on where it could possibly go.
Lucky for those who had bought in 28k and now the price had reach up to 40k and that was an easy profit in short time duration.

As of today's trending recovery of bitcoin, potentially there's a chance to fall but not as big as the previous one. Mostly people who've been holding after buying btc the last drop take a quick profit on that level then eventually, buy back when it goes down again. They're playing their profit to make it compound in order to increase the buying capital, so let's learn on how the system works for everybody.

I don't think BTC will drop so fast to $20k levels, at least a few months are needed to retest the old high prices and liquidate the previous buyers. Otherwise, it will be a win-win situation for both parties, better to wait for the clear direction of the market trend. The clear direction is upwards but the whales and market makers will not let all traders just keep taking profits over long-term bull market. We need to see the storm and winter is coming. Probably new sub $27k levels will be on the table, later the new bull attacks can move the market price quickly towards $80k in few months, IMO.

For the longest while, bitcoin's value played between $30k-$35k and hasn't gone lower than that ever since. Nevertheless, that doesn't remove the fact that the value of bitcoin is very much volatile hence bargain hunting wouldn't be so ideal yet. You should wait a little bit more up until the value goes much lower. We do not really know when will it happen but we should always keep an eye on the market if we would really like to buy bitcoin in a very cheap price. It will all be worth it once we hit the right timing of buying bitcoin and even other cryptocurrency out there.

Those people must learned a lot from their skeptism with the market. This time bitcoin is doing U turn and it goes back up again above 40k rate. that was also opening the possibility for another bull will be happening with bitcoin again.
Bitcoin already reached its bottom when it was getting traded @29k and it will never go below than it.
More investors are also coming to the bitcoin. The price of bitcoin is really strong at this moment dude. I hope we will see bitcoin will be mooning again

a trend for the short term has formed I think. more visible this will be a good rally for the BTC market. but maybe it won't be a very strong rally. because after a small pump we see there is good stability for the BTC market.
I became convinced this would be an opportunity for altcoins to get a pump rally.

with the small pump going on right now, it does bring altcoin opportunities to creep up. at the moment it seems easy for new projects to evolve with the current situation, but for me for new projects it is not to hold on to it in the long term. that's the price of the pump, then I throw it away

Several ground breaking events occurring in the last 12 months or so, including the adoption by PayPal, purchase by Tesla, recognition from El Salvador and rumors related to Amazon. Actually I am surprised that the prices haven't gone up further. With such overwhelmingly positive outlook, I would have expected BTC to reach six digits by now. But somehow, we have remained below the $50K mark. I guess the profit booking phase is still not over. The rally will resume only after those who purchased BTC at 8K levels in 2020 completely book their profits.

Yes it is because of the recent pump people are now motivated to buy the buy order is now going strong $50k is realistic, if we are not going to read bad news for the month of August, all the other altcoins are also going up, and many new trending coins are created this is the best time to have funds to invest, but of course only invest what you can afford to lose.

You might want to break out the smelling salts given the price of bitcoin is hovering around $ 40,000 which is double what the last dozen or more (more than likely shill/sock puppet) posters have been commenting on in this thread.

These threads need to auto lock if the OP becomes inactive.

Anytime I see this type of questions, one thing that always come to my mind is if wishes are horses most people will be million in dollars now. They would have made so much money in Crypto Market than anyone else could. Before we predict the price of any coin, we need to do something first. Which is the market analysis, knowing the trends for the pass few years or probably months. That is what I called the market analysis, this would help us to know how deep the market is going to be. After a careful market analysis, I saw the for bitcoin to come down to $20k will be a strange thing. It will surely come down but not to the level of $20k. And whenever it picks back, we sure be expecting a big move upward.

Many now would like the price of BTC to fall below $ 20,000, but for this to happen, there must be appropriate grounds for this. As we could already see, the BTC price has already dropped and it amounted to $ 28,000 - $ 29,000 per 1 BTC. Along with this, I saw information that this was the fall that forced many BTC holders to sell their BTC, after the price increase reached $ 41,000 for 1 BTC. As we can see, there is now no relevant news for the BTC price to go down, but positive news continues to come, which probably indicates a further rise in the BTC price. From this it may follow that the price of BTC is unlikely to reach $ 20,000 now, since by the end of 2021 we will observe another phase of price growth.

Altcoins will always be next when we see the bitcoin rally. Whilst for those people that are waiting for the bargain of bitcoin to hit $20k, we're doubled from that price and we've seen it go half from the past ATH and the highest as of the moment. It is unlikely that we see $20k soon and if it does then that really hits that we're in the real bear market by that time. We saw the bear trap when it's down by $29k and then eventually has recovered so fast. And that gives us some idea that we may not see that price again, hopefully not.

I would say that if nothing completely unforeseen happens, like a real global disaster or some coordinated government attack on Bitcoin, we won't see $20k again ever. Retail investors and institutions would start buying like crazy as soon as Bitcoin drops below the $30k mark because everyone will consider that a huge opportunity. I would also consider it an opportunity. What I am 100% sure about is that we will never ever again see Bitcoin below $10k. For that to happen there must be an event that would kill Bitcoin in its entirety.

That's what the holders are wanting and thinking, we don't want to see $20k again as we've been through a lot and those dips were worth it. Because with such plummets, it made bitcoin stronger and those that have doubted it during those times, they're for sure thinking that it's too late for them already although it's not yet and they have to wait until it bargains again but there's no way to determine if it's going to be at $20k again or under it. While they wait for that which is unlikely, they should buy every dip they see.

$20,000 could be possible for a bitcoin to fall, but the thing is when would it happen. Because a wise investor would watch every time of bitcoin price in crypto market and get whenever it could benefit a profit or not. But it could be a big lost for the ones who bought bitcoin above $20,000 if the price won't rise up again.

The price of Bitcoin continues to experience a significant increase even though it was corrected at $37k and currently the condition is at $39k if the price returns to $40k it will most likely continue to $45k and will the HF that occur in Ethereum affect Bitcoin price movements for now?

Yes, many people hope so because they hesitate to buy when the price is still low. But it looks like Bitcoin will not return to the price of $ 20,000 in the next 1-2 years. For now being able to buy Bitcoin for $30,000 USD is a fortune.
Stop hoping like that, it's better to start buying now and leaving funds to buy again if Bitcoin again tests the price in the range of $30,000 USD

I don't think Bitcoin price will go to the $20k, because if you look at the 200MA support, the price will drop to the $27k support in july, Bitcoin price currently strengthening since summer is in august, there are a lot of expectations for the price to rise above $40k and it will take a little bit of patience to wait for that to happen as new investors are likely to buy more bitcoins before the end of 2021

That is on he TA side, but if you look at the fundamentals, it is still stronger that ever.

Uruguay is the next country to proposed Bitcoin to be a legal tender:

https://www.coindesk.com/uruguay-crypto-bill-legal-tender-juan-sartori

So that is a good news already and I think it was one reason why we have a good recovery in the last 24 hours and might see the price jumping to $40,000 again.

I saw a lot of posts from various users claiming that they will accumulate Bitcoin once it gets below $20,000 per coin. Was there any reason to target this level? We had an ATH of $64,000 per coin a few months back. A better target would have been $32,000, which would mean a 50% correction. By targeting the 20K level, the expectation was kept at unrealistically high levels. With the entry of institutions and corporates, I don't think that such sharp corrections (64K to 20K would mean a correction of 70%) are anymore possible in the Bitcoin market.

Be realistic, in any investment, even in stocks, it's not possible that we will just always see an asset continues to pump, that's not normal anymore. See as the current market situation as a normal one, in even pump or bull run, correction is always necessary and that is to make the market stronger.

The way Bitcoin is designed we should see it pumping for a long time until it stops but yes it does have a limit to how much it can be worth but we have not got close to that yet.

It might fall down to that price a couple of times more but it will not stay there that is for sure because of the reasons that you mention that there are to many people and big organizations like Tesla who are invested in Bitcoin for it to become low price for long.

The price of Bitcoin will always go up after it goes down, because when it's getting harder and harder to get Bitcoin, the more expensive it will be, it's very common to happen because it's like a rare item when there are only a few units, so the price will definitely come back expensive, although been cheap in the past.

We also discussed about the end of the decline in the price of Bitcoin after the bull run. If in 2018, the end of Bitcoin price was $5k after the $19k bullrun. But this year's bullrun of Bitcoin price hit $63k, and the end of the drop was $15k. However, whatever the other story with the emergence of web3 and even web5, then it will not dominate the market. Control is now on Bitcoin.

web3 and web5 is nothing to be excited about. Bitcoin will not be hitting 20k for a long time it is not impossible like I said a couple of posts ago but it would take some very negative news and events to bring Bitcoin back down to 20k and then it would only be temporary.

now I think it is not possible because Telsa accepted BTC I hope BTC will cross 50k$ and you can see Amazone said that i will accept BTC so i think BTC will pump

It's very unlikely that we might ever see bitcoin at $20k, although time will tell but as it stands bitcoin isn't gonna be dumping to $20k soon, when I thought that would be possible was during the time when China fud was still fresh and effective, e.g the time they banned bitcoin mining, but even during those bad days bitcoin never went below $28k and that's a pass mark unlike in 2017, they rainy days have passed right now the sunny days of pumps are here again.

That is one way to see it, right? But those who are a bit more experienced by now and know that Bitcoin can drop also could play it quite a bit smarter than newbies. When people say buy the dip, that is quite hard to do for people are brand new to the market. Those who are around for a while can make those judgments with a bit more certainty, never with full certainty because nobody knows what's going to happen tomorrow or next week, but sometimes I consider a dip a welcome opportunity.

I personally had hopes that bitcoin was going below $20,000 usd in this recent fall, but it quickly rebounded, and after witnessing this, I did say Yes, bitcoin can fall below $20,000 usd but this will be mildly difficult, it will take a very very bad or negative news to see bitcoin plunge below $20,000 usd again after how quickly it went up from the recent fall, I did say that we might never see bitcoin below $20,000 usd again but then, crypto is highly unstable and very unpredictable, so for sure, no one can really tell for sure whether btc will go below that price range again, but I personally say yes and mildly impossible to happen.