Bitcoin Forum

In crypto, the impossible becomes feasible, and the past becomes the present! The 20k support has been strong, and no time in BTC's history has the price fallen below the previous ATH. I've been thinking about this recently, but I know it'll be bad if the 20k support is broken, as BTC could fall to 15k or even lower.

What do you guys think? Is the previous ATH price ever going to be broken?

https://i.imgur.com/hKPdNVN.jpg

Is Celsius liquidation price going to be the bottom?
https://i.imgur.com/Nk1T5Iu.jpg

https://i.imgur.com/ojIPXk7.jpg


The only reason you should hodl and not panic sell.

Bitcoin is too volatile no one knows what will be the price of Bitcoin and this is not yet the right time to decide if $20k is the bottom price of Bitcoin.
Bitcoin blockhalving is a good time to invest lo because if you know the Bitcoin price history you should notice that thing.

Check the chart from this link https://en.wikipedia.org/wiki/History_of_bitcoin then scroll down.

As you can see Dec 2017 reach the highest price of around $19k and the price dropped last December 2018 to around $3.3k so I don't think that $20k is the bottom price so there is still a big possibility that the price of Bitcoin this year will drop more. I'm not FUD it is just my own analysis based on Bitcoin price history.

After an ath, the previous ATH hasn't broken till date. This time the chances are quite high. The price of bitcoin have fallen from the value around $68k reaching $20k. This has happened out of different reasons. The Ath was reached during the month of November, 2021. Now we're just seven months away and we've been close to the previous ATH after hard resistance at specific price points of $43k and $28k. Same as that it can happen around $20k before further drop.

Bitcoin has never changed.

It has always been volatile and the price changes from time to time without us knowing where it will stop on its support. Right now, it seems the $20k was the actual support but we don't know if it will be broken, maybe today or tomorrow or by the next day.

That's one thing for sure that as you've said, "the impossible becomes feasible".

And that's how we must think that everything can happen unexpectedly.

The price is at its critical point right now with a  resisting $20k pullback, but till then no one can vividly predict it wil fall or not fall below the $20k, because since yesterday i have been observing the price movement thinking it will go up but it never did and also thinking it will fall but it also never did. So right now no one can tell

Can't say the $20K is the bottom because it may still dive again. But many are saying that for now there is chance that it may first rise and from there it could plummeting again or continue to stay there longer. But this analysis is still a complete BS since its not saying anything where the market is really going.

If an individual have some fears that if the price dips to $15k, he will lose more money and may not survive in the next 3-5 months, he  will sell which I guess the whales will be happier that another one bites the dust.

People will say "I really wanted that $20k level, I'll buy when it goes that way". And, here we are and people still wanting it to even go lower. It may dive but it may straight to the upside too, this market is very tricky and if you aren't that ready on both scenarios, you're the loser. Historically we haven't have any significant huge losses in the past years even during the COVID crash last March 2020, it may signal a more bearish sentiment but it could signal the other one. It's a two edged sword.

It is possible. It used to be just possible, but at this very moment it is becoming possible by the minute. The price right now is just a little above $20,000. Any minute from now, it could fall down from it. It's only a few hundreds that's holding this $20,000.

But, again, there's really nothing to worry about. To those who've been HODLing up to this point, there is really no point selling. To those who are afraid of buying, it will probably just take months before you look back and realize that it's a good decision.

If bitcoin breaks the old 20k ATH this is unprecedented in crypto history, this year's crypto market also witnessed a series of unprecedented events such as the top coin Luna took only 3 days to reach zero and recently the world's largest crypto fund 3AC also collapsed. Best we prepare ourselves for the worst, my prediction bitcoin will continue to drop below $20k, maybe $15k bottom this time.

It is very possible if we see at least Celsius has liquidation price below $14,000. If we accept the fact that market makers and exchanges will set up traps for liquidations against their users, we can more easily to be opened with scenarios that they will do the same for Celsius, 3 Arrows Capital. They are not very different than us, just have bigger capitals.

Bigger capitals mean exchanges will earn more by liquidating those entities and their over leveraged positions. From $20,000 to $14,000 is only 30% down that is very likely to happen.

In addition, Volume Profile or wallet cohorts supports the possibility of price fall to $14,000.

It is hard to say because the correct question in my opinion is to ask "How many newbies are left who want to follow the US economy crashing and sell their bitcoins instead of buying more?".

As I've said before, this is not a normal drop. This is a clear case of panic sell simply because over the past year people have been brainwashed to believe that bitcoin should suddenly start following US stock market after 13 years of not following anything. So they panic sell whenever a crash occurs on the other market.
Funny enough these people ignore the fact that last time the discussion about this fake correlation was heated bitcoin soared while that other crash continued (https://i.imgur.com/u6n0D3N.jpg).

It's your call. I don't know either — but if I were to be forced to answer this question, I'd say 70% yes, 30% no. If the economy further becomes worse (which is likely the case imo), despite bitcoin being quite 'low' already, people might end up being forced sellers to be able to afford food and bills and such.

One real truth Iearned in crypto world is no body can predict anything but everyone think they can predict everything.

It's not impossible. I'd say it wouldn't be likely to fall anymore since we had a huge drop, but that's probably just me in copium since if it was actually what I imagined, we'd see a bit of recovery at least to $23k or $24k and yet we're still hanging around $20 right now, or maybe I'm just rushing it and we'd see it after a few more days. Bitcoin is just that volatile though, big drops are something natural especially if fud gets to newbie investors.

Just keep the hodl up.

if Bitcoin gets past the $20k wall then the possibility for bitcoin to continue to fall (below $20k) will be very large...

however the market is still in the bear zone, so anything could happen in the next few days (bitcoin goes below $20k or goes up past $25k). everyone who hopes to have a chance to buy bitcoin at $20k (when bitcoin hits $60k) should remember their hope because this is the best moment lol.

Downnnnnnn

Pop goes the BTC.

just dropped to $19K , next support level $13K.

Well, the Bitcoins price just broke the weekly 200MA down around $19k+, though we still have about 2 days to the end of the week and if the price doesn't close about the weekly 200MA what will the price be looking at cos that was supposed to be strong support. Are we looking at going down to around $12k?  :o
https://i.imgur.com/ZCrcCpY.jpg

Oh no!
I was just looking at the price and it's $19500! Here we go, the price is likely to really drop more than it was. We don't know if this is going to continue to $13k but yeah, it's possible by just looking at how quick it plummets.

Well, that's it. Welcome to $19k but do we need to look at it negatively? Sadly for those who have bought at the top yes but, do not forget this is buying time.

Prepare to be shocked!!! In a few days, we'll be doing a 10k!! History has been shattered in front of our eyes, and Bitcoin may never recover over $40k till the next halving... In two years, we'll see each other again.

I will finally own 1BTC when it drops to $8k  :)


https://i.imgur.com/Z8eh17I.png

^Wait, so you're waiting for 8k BTC to go and buy 1? I do agree (and the rest of internet probably would want to agree to be seen as realistic) we've not seen the bottom yet but 8k is an extreme, that if happens, shouldn't be longer than a flash. Unless you've got a limit order waiting somewhere... but would be real shitty to get close to 8k on a bottom before the next rally in 2 years starts and you're left waiting as we enter the next 1/2 year uptrend.

I don't think even those that bought at the top should really look at it on a negative note. Imagine those that bought at the previous ATH of 2017 for around $20k, the most important thing is for you to be able to have patience and this is difficult if you don't have believe in Bitcoin. Guess we've been here several times before and those that were able to HODL thru 2017 Bear didn't remember that when the market reached another ATH in 2021. All you need is just to HODL.

Here is the mistake bitcoiners make, Past Performance is no guarantee of Future Profit.
The main difference between before and now , is the baby boomers in the US were throwing money at any investment since btc creation,
now the baby boomers are retiring and moving to non-speculative investments like cash and bonds, so the new future might be very different from the past.
Also might explain why $1K of BTC was wiped off most of the markets in less than 15 minutes, is the fund mangers are cutting btc loose.

 :D :D :D
You can tell the mods are concerned, this topic has been in the main forum all week, but now $20k has busted it was moved to speculation.  :D :D :D

Well, you might be right, or maybe not. Every time the price of Bitcoin drops there is always some reason for it and some more reasons some people think Bitcoin might not be able to come back from it, by the way, I am sure some other investors that understand the market differently are the ones buying up every satoshi being sold by others.

When people started using it as an asset rather than a functional currency, then a lot of cheap money started flooding into the market. Blame the speculators who saw it going up week after week while the stock market was languishing - all that money they could borrow from banks at record cheap rates ended up starting to pump into Bitcoin. Now unfortunately a lot of people will be underwater, they borrowed money at one rate, half of it or more might have evaporated and now if they're being sensible they will liquidate while they can still get some money out, even if it is accepting the loss. It might take a very long time before ever going back to and above the previous heights.

Bitcoin is now down to $19k and looks like it's going down again. But we hope the price doesn't drop any deeper or below $15k. By now, there may have been a lot of people who were panicking seeing the state of the market and they were panicking about selling their coins and not just bitcoins. But I still believe and believe bitcoin will rise higher than ATH before. All we can do is be patient and continue accumulating as many bitcoins as possible before the price rises again.

The believe that btc will raise again or record a new ath is not in question, how low the price will go and the time it will take for btc to recover is the main concern with many investors if am not mistaken. Btc has never fallen below its previous ath according to the @op but right now it looks like history has been broken, there is a new history now.
At this point, we can only seat back and watch how btc free fall to what would be the bottom, nothing much to do.This is the best time to dca, a life changing opportunity.

Congrats!

Think about this:
There are 56.1M millionaires in the world
There are only 21M bitcoins

Everything is happening. BTC could fall even lower. That is also my personal opinion. In the current economic situation, when the problem of inflation occurs, almost many of us have to accept selling BTC even though it is a loss or still have a profit to spend for life. I see that it will be a worse scenario in the near future when the world has many other complicated problems going on and there is no way to solve them to bring about peace. BTC will hardly have the motivation to grow fast again, and with this drop I hope to be well prepared to buy more BTC than I can afford.

It looks like what is happening is going to be a painful drop and a lot of people expected 20K to be the lowest bitcoin price but in reality it's more than 20K, and currently the bitcoin price is 19K and I hope it doesn't hit 18K. And if that happens I think 15K will also be reached and if it's not strong enough to sustain it, 13k is also possible and maybe 10k is the end of a very painful drop.
no one can predict the bitcoin price accurately even those who are experts, because the ups and downs of bitcoin are influenced by various elements and include weak hands.
and what we have to do now is to be sincerely patient and buy every drop of it and hold it no matter how long it takes the price to rise again or reach a new ATH.

Now down to $18k, $13k does not seem so far away.
Wonder how long before miners start going bankrupt.

For long-term investors, they don't think much about how long it will take for the bitcoin price to rise and how long it will take because they are not in a rush to sell their bitcoins. Whenever the price of bitcoin falls, they try to buy more bitcoins because they know that it is a discount time for them. We can also use the moment when the price of bitcoin falls, namely by making small purchases gradually.

The bitcoin price has already hit $18k in its previous dip and while it may now go up to $20k, that doesn't mean we're going to see a $21k price soon or even another high. There is a possibility that the price will still go up and down every day and we should be prepared to use that opportunity. But I'm still worried that after this, the bitcoin price will drop deeper than yesterday because a deeper decline could occur.

After seeing the price of bitcoin stuck at the $20k price level, it will allow bitcoin to continue to experience further declines in price towards the $17K area. If the current price decline continues, it is possible that the bitcoin price will drop lower than the previous ATH level.

It's already the start of the winter in the market, I am pretty sure that we will probably see bitcoin go down much lower in the near future, I think that 17k might not be the lowest point that bitcoin can go, there's definitely a support but bitcoin is still as volatile as ever.

Yes, there's no time in BTC market price history that has it dumped below its previous ATH price but if you check the percentage of dump BTC always experiences when it total bearish market you'll see that BTC always dumps at least 80-90% of it last ATH price which I believe make the last bottom price to be fair and if we looking at the price very well i can say we haven't seen the last bottom price for this bear market.

Bitcoin and ethereum have almost the same pattern, these 2 coins are the determinants of the market, if both are green then it can be ascertained that other coins are also green or vice versa, the opportunity to drop is very large because of the large number of FUDs that make many investors afraid and sell bitcoin at low prices, I hope this ends soon and bitcoin can get back to $30k or higher.

Obviously, it didn't happen obviously, the OP might hav exaggerate it. And if ever we will go to $8k, yeah, it will be another record, capitulation already. And so we are back again in the $20k range, good to see after that $17,500 bottom we have seen 2 weeks ago if I'm not mistaken.

But it's not over yet at least for this year, speculation is that $13k will be the absolute bottom. But we will see, recession is really hurting every market and hopefully the world can recover very soon.

If that so happen, I'll still buy more...I can't be hopeless anyway even if it drops below $10k.
I still entrust with Bitcoin and in the market, I see the worse one last 2018-2020 where Bitcoin almost fall down but look? We are able to see Bitcoin at $60k during the bull season. I was just to figure it out, things can be alright after the hard times - we don't just let this negativity drives us, I was still holding and patiently waiting for the recovery as it was indeed to come.

This is an important point that you must understand, to be honest when I see the crypto market, especially the price of Bitcoin goes up and vice versa, I always follow your words.

Honestly Bitcoin ATH 2017, I've followed the prediction, but all in vain, from the experience and lessons I took when Bitcoin went up and down, at this time I don't believe in predictions anymore.

The method below I did successfully in the crypto world.

This method, is almost the same as you said above, so until now if I want to invest in the crypto world, I always prioritize as I quoted above, the conclusion, do it, be patient, without considering the old and new ATH.

I believe that the second half of 2022 will be positive, July is the start of a revival, prices rise from $18k to over $23k, investors earn more than 30% profit within a month if they buy when the price dips and sell now, but I suggest to keep buying, the opportunity for rising is very big and makes me optimistic that August will reach $40k.

The second half have started already by the time we enter the month of july. At the first few days/weeks there are no noticeable change in the price but recently, we saw that price break the 20k barrier. This may seem not much but this was still an improvement compared to those past months where the price only sits at 20k and sometimes going under than that.

The lowest we got this year was not 18k but it was 16k I think, so people that bought on that price are now earning more than 30% if ever they sell when the price touches 23k. There might be some who got greedy and refrain to sell thinking the rise will continue but it fell down again by some percent.

Over two weeks now bitcoin has been moving up and down positively and the many people recinto jubilation especially people that hold cryptocurrency for long time. And from your observation I believe that cryptocurrency will have a good u turn within the month of September and October in this year 2022. Bitcoin is coming up I seen that cryptocurrency is also increasing in so many countries that inflation he's holding.so I believe that there is a lot of improvement over cryptocurrency in July and it will keep on going

If you look at the current condition of the crypto market, which is still in a bear position, it is possible that the price of bitcoin has the potential to fall even deeper than the current price. Therefore, in a condition where the price of bitcoin is still experiencing a decline, it is better that now is not the time to enter to buy because the price of bitcoin has the potential to fall even further.

We have just to believe and think that the market will not be always on the downtrend, ups are still possible despite the current situation. I'd see the sacrifice made by these investors but they seem not hopeless believing that there is still the chance to see Bitcoin rallying back high someday. This year is somewhat uncertain but predicted that the bear season remains until December and might be extended in the 1st quarter of 2023.

In all honesty, no one can predict what will happen next. We are all just speculating what's next in this market and possibly doing some analysis on what coins  to store while waiting for the right timing to sell your coins. In any case, such prediction is a positive one wherein, it is giving hope to holders and possibly for the newcomers in this market.

As a shock spike down yes I think its still possible.  Consider it a result of volatility being high but overall I do think BTC is doing some work to put in higher lows even if we must rebuild that process more then once.
  There are erratic price points and regular price action with hopefully higher volume, the spikes arent always as important as the regular action.  Same reason people follow moving averages for the momentum they represent, we have to repair and improve those is good basic view.

Not only is it still in a bear market, but Bitcoin is still failing to rise above $25k. Then there is still a possibility that the Bitcoin price will fall
below $20k again, especially since Bitcoin's movement is very volatile, make Bitcoin movements more difficult to predict. There are even
some people who believe Bitcoin will hit the price of $10k, but i don't believe it will happen, after all the price support $17k is very strong,
so my prediction is that the lowest Bitcoin price is likely to be $17k.

But that doesn't mean to buy Bitcoin we have to wait for Bitcoin to reach the lowest price, because Bitcoin doesn't necessarily fall below $20k,
because often our predictions are not accurate. So I prefer to buy Bitcoin at the current price, but of course do not use all the capital we have
to buy Bitcoin, because we can buy Bitcoin gradually. This means we will buy Bitcoin again every time the price goes down, that way when
the price of Bitcoin suddenly rises we will not regret missing buying Bitcoin at a low price.

We can't be conclusive on the market movements. To the ongoing market movement, there is more chances of price falling down to $20k, but the recovery will take place within a short. There is more chances of bitcoin investment turning towards altcoins. By that time we'll experience the downtrend of the bitcoin market pushing most of the potential altcoins to some level that have fallen 60% and 70% without any big movements for a long.

My basis also why we still have the huge possibility that we may experience to drop below $20,000 again is the volatility when Bitcoin is dumping versus it is pumping, the pressure is higher when Bitcoin is dumping.
The previous all-time-high of $20,000 is a huge horizontal support for me especially before, we took years before broke that previous all-time-high.

It is difficult to infer market movements because today's market is very different from a few years ago. Many of us don't expect the price to fall to $20k or more because it could cause panic among investors, especially new investors who tend to be weak-handed. But for long-time investors experienced in the crypto market, it is a good opportunity to buy many bitcoins. But it could be that if the price of bitcoin drops, it will trigger a potential altcoin movement in a bullish direction to achieve the altcoin season again this year.

it looks like $20k is a very strong support, and it is very clear because Bitcoin was able to increase again above $20k,
even briefly below $20k and down to $17k, but $20k is a supply zone, so we have to be calm,
if Bitcoin goes forward won't go down below that again

I have a thought that Bitcoin will decline below $20k, the target and some speculations that I have read Bitcoin will touch the price of $13k this year, however we are always monitoring Bitcoin developments whether the speculation is true or just an illusion.

That is the price that has been predicted because we have hit the $17,500, way below the previous all time high and no one really expect it to happen very fast, in about 6 months time, we come from $69k, new all time high to lower lows of $17,500 and that's why their prediction of $13k. However, that prediction has been invalidated already when we went above $20k, sustained it and moving towards $25k-$30k if we will have enough push till next month.

i don't think we will go down that hard as far as $13k anymore. we are now more than 20k and going up. and it seems we are fighting above 20k already. unless, some bad news will come up that will trigger the market to do gown again. but so far, i believe we will stay above 20k in the remaining months of this year. whatever the btc price will be, one should prepare on how to take advantage of the current market price.

You know what? The last time we crashed from $35k down to $16k were a trampoline for us to get skyrocketed even more ! We are not even in the middle of the bounce back now , $24k and so on increasing day by day ... the bullish not formed yet but we might seeing it at the level of $32k or so before the correction and going to the moon before the halving arrive after next year.

$100k are the target , looks impossible now but we will see it.

The next couple of weeks are going to likely be the most important we’ve had since the recent bottom. We’ll get to see the effect of the mtgox coins on the market and if they’ll be able to be absorbed or cause a breakdown in the price rally. I’m watching and waiting like everyone else, but I’m not sure my actions would be effected regardless of what happens. The next leg up is approaching…

Like what @borovichok said, the impossible becomes feasible here in crypto. I agree with him actually because I already witnessed some unrealistic events on the past. If all of it are possible then why not this 13k when the bear market is still there and the gap from the current price to that price is not really that far away but no doubt that I like the actions btc is showing there.

It's indeed fighting only to retain its position but it's unfortunate that how many times it attempt to pass a higher limit, there are still a time where it is dragged down easily especially if there a sudden bad news or some kind of a fund that hits the market.