A few months ago, a lot of people here were saying that they had an exit target of $20k. I wonder how they're feeling right now.. 🤔
They will be in so much pain as they already sold the majority of their holdings around $20k with a hope that BTC might not go past a certain level and they will buy the dip again. But now it seems very unlikely that BTC dip to $9k because of the involvement of institutios. You can expect a higher price for now. People who have sold bitcoin at $20k definitely regret missing the opportunity to sell at a higher price and have been waiting for bitcoin to drop below that level again which seems unlikely after bitcoin exceeds $30k and becomes strong support. The support level seems to hold bitcoin position and resist the last pullback, however, it's not over yet as there are massive sell orders on the market. We will see if the demand is still bigger than the desire of people who sit on a huge profit. |
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A brief correction to $27,7k then rebound to $32k again as fast as it fell. The market still on the bull run, even the correction seems bullish. Whoever started the sell-off has failed to influence the market to panic sell. $30k as the support level appears to hold pretty well, and the next attempt to break the resistance will begin shortly.
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in terms of the crypto market drop or a big correction, yes it does not mean an economic crash as the crypto market is only one part of many sectors of the world economy, even if bitcoin and altcoins crash 90%, it will damage crypto holders and community but the rest of the world economy will be fine. However, it seems unlikely to happen, if bitcoin price plummet from $33k to $20k, it's a market crash but seems normal, if it crashes to below $10k, then something is wrong. Economic collapse is any of a broad range of bad economic conditions, ranging from severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death rate and perhaps even a decline in the population. Hyperinflation, wars, and revolutions cause hoarding of essentials and disruption of markets. source |
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Tell us your bitcoin prediction for 2021, and what will or will not happen.
In my assessment, this 2021 before end of this year Bitcoin price value could be 150k$ - 300k$, But this is just my opinion and analysis based on what I saw in the chart or graph. Sounds too impossible for the majority of the community here in the forum, But we are all free to give our own thoughts. No one can tell precisely but calculate the probability of the market response and the potential of bitcoin refer to the adoption and economic development worldwide. Some predict the ath in this year will reach $60k-$100k and the highest at around $400k, I can't see how it would be achieved from this point but tend to agree with $100k by the end of the year. Bitcoin still on the bull run currently to break the resistance level, but it would stop at some point, move sideways and gradually decline, maybe in Q2 2021. |
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Google trends show for this season is still little than what we have on 2017. I think it will push more the whole year and then the real bears will appear on 2022. I agree with Jimbo that $100k was the call for most who will see this bull to be running throughout the year. Btc have all my respect, from $3500 to $32k+ and counting is record breaking.
I've remembered those people who are still waiting for the bottom on $3k. Worth mentioning that the lowest price of bitcoin in 2020 was $4,3k in March and the highest at around $29,3k in December, a $25k increase in less than a year. 2021 is a whole new level for bitcoin, in the last 4 days, it broke some resistance like it was nothing, which many people thought would be the peak yet bitcoin continues to rise until it stumbled slightly below $35k. We don't know the limit for bitcoin at the moment when it will stop climbing and the bear will take the turn for a while, probably in March to June. |
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I don’t even have to say it but it’s been a horrible year for the US economy, but as we finally bid this year a goodbye it seems that the US economy is finally starting to rebound in the right direction. Furthermore where businesses are allowed to remain open those states are recording low number of unemployed people, which shows that a recovery in the short term is quiet possible don’t you’ll think so?.
~ In addition, China is actively cooperating with African countries. Its goal is to develop the natural resources of this continent. China do not cooperate with Africa, rather they colonize because the countries in Africa are fooled by a debt trap by China that they cannot pay, so they have to pay a higher price, namely their country. The economies around the world were affected by the pandemic, with the development of the anti-covid-19 virus, gradually economic activity will return to normal. Regarding how the economic development this year really depends on the policies taken by the government, each country will have a different economic resurgence |
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See you in the future, yes we don't know because
We are not time travelers nor oracles who can tell accurately about bitcoin price, just some guessing by calculating the probability.
Some people said bitcoin will reach the ath at $30k, but it turned out bitcoin still increase over $32k and hit the record at $34,8k so far, probably will break the resistance anytime soon. At this bull market, many people expecting bitcoin to plummet so they can buy the dip, but still no sign of significant pullback circumstances.
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If we are in a bubble then it is just the start, we haven't reach the top yet. Of course every bubble is going to be burst, but then again, we are now in the levels that we haven't seen before obviously so we really don't know how far will this massive run will go, it could be a 6 year bubble or 3 year bubble so it's hard to predict now as we are just starting and it could end at $100k or even more.
Bitcoin is not in another bubble, it still in the early phase of the bull run if we calculate the potential that it might achieve in 2021, probably $100k by the end of the year. so, it won't get burst but a correction, even 30%-35% will bring it down significantly but the price still holds above $21k. If bitcoin manages to reach $100k, then the major correction may occur at that level, the history may repeat itself, the price will plummet for 2 years and come back after the next halving in 2024. |
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I do hope that someday he would realize that he has to adopt the technology and it is an inevitable innovation for which his company might take the benefits and advantage of it once, he initiates to adopt it.
It's a good rebut from his own words with that particular portrayal which is the rat and which is the poison. And someday, the price of bitcoin will be at par or more than the price of his BH stock.
He has a different view, you could say the way of thinking of an older man, he is 90 years old now, almost a century, someone who has lived so long and possibly wants to live longer. He has everything that he wants, but not eternal life, can spend his money on anything but prefer not in bitcoin or gold because that is how he think and refer to productive investment. Nonetheless, the bitcoin market cap over $628 billion, bitcoin at 9th place, with a total market cap exceeding Taiwan Semiconductor (TSMC) and will soon overtake Alibaba at 8th. |
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First of all, is doing research on how the market reacts and trend analysis.
Combine two indicators namely fibonacci retracement levels and the relative strength index (RSI) oscillator indicator. Fibonacci retracement to determine support and resistance levels, while the RSI indicator is the confirmation. This combination method can be applied to all trading time frames with a risk:reward ratio of at least 1:2.
Don't be greedy, doing it by your strategy, risk and money management.
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We have seen the resistance at $35k, but someone said; any resistance is simply futile. and many people expect bitcoin to reach $40k within a week by assessing the achievement of bitcoin in the last few weeks. The market indicates a strong buy movement and could potentially reach $36k because bitcoin is getting so much publicity in the mainstream and social media cause fomo among people. However, we don't know the limit yet, when the correction will start to form, but be prepared.
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Players involved in this bull run are different than before, institutional investors have a different idea than retail investors and traders, whoever has sold bitcoin below $30k might regret selling at a lower price moreover if the price won't dip below it and bitcoin continue to rise to $40k. We have speculated that at some level bitcoin will undergo a correction, in turned out the contrary, and now we assume bitcoin will continue to grow and will not experience a large decline anytime soon. Even a 20% drop would cause the bitcoin price to drop to around $25k, then what will cause bitcoin to drop by as much as 40%? that is when institutional investors started selling their bitcoins for profit.
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Princejebs : not necessarily. You could hold your BTC forever and borrow fiat against it. In fact you can already do that with Defi, but it's also a service available to rich people against their stock portfolio, real estate or gold stash, BTC is just the latest asset allowing them to do that.
well I really agree with what you said and until now many have benefited from the increase in the price of bitcoin which touched the price of $30800 which has become the most expensive price in 2021, hopefully bitcoin can increase the price again so that it can make many people get more profit many including holders who have more than 10000 bitcoins. yes, they can do that, some might have been doing it to increase their portfolio, hence the price continues to increase. They have realized that bitcoin is one of the best-developed assets during the pandemic, the more institutions investing in bitcoin the better, it's just how long do they plan to hold bitcoin? At some point, they have to sell bitcoin to cover their loans and take profits for investors, when the time comes, the price will be affected. Hopefully, they don't sell bitcoin at the same time. |
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There are several sectors that did well during a pandemic, such as information and communication, agriculture, education services, real estate, health services, and the water supply sector, it might be different depends on the country but people did a pretty good to survive. Economic growth was greatly affected by Covid-19 when the lockdown occurred which caused many sectors to be hampered and people lost their jobs, but over time they have learned to adjust themselves and develop ideas to survive.
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This current Bull run is not going to be stopping when we see Bitcoin price of $30,000 at least this my strong belief.
For this reason I have a position at $30,000 because I can see a similar trend to when we hit price point of $20,000.
We shot through this price like nothing and the same will happen for $30k.
It seems to be true, hit $32k like it was nothing, keep climbing higher than many people predict it would be, the resistance is gone and conquered, it was $30k - $32k and now still trying to get higher, $30k is becoming a support level, the next target is $35k. Now, who said bought bitcoin at $27k was a mistake? Absolutely wrong impression of how bitcoin is growing. |
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Some people will even buy at 30K, but that depends on individual perspective, knowledge and understanding of the market as well as the believe that the price will increase upwards. But for me I will observe btc at 30K to see how things will unfold.
It is really difficult to understand the market but if you have the patience and confidence to hold the coins for a much longer period of time even if the market goes down then there is nothing wrong in invest at any price as the market will recover eventually as we have seen throughout its short history. There were many who invest at the top of the rally in 2017 and many burned their balance because they sold the coins at a loss and it took 4 years to reach those levels again and if you are investing when the market is high make sure you hold the coins even if the market goes down. What do you mean? it didn't take 4 years, approximately 3 years, from 2017 to 2020. The market has changed since then, adoption and big investors drive the market to a whole new level, no wonder why the price of bitcoin continues to rise today to reach $29,864 as the new ath, $30 k is on the verge. If the correction is about to happen at this price level, it won't take another 3 years to recover to this point. Imagine if history will repeat itself by the end of this year, reach a higher ath, probably $100k, then we know it may recover after the next halving in 2024 or faster than before. |
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Eth just following bitcoin path, if bitcoin is about to fall, then eth will likely fall as well. Since eth has a lower price, you can buy more and get higher profits if it doubled compare to bitcoin. However, so far the increase in the price of bitcoin seems to be bigger than eth, which means the profit earned from bitcoin is greater than eth. in this bull run market, both of the coins are profitable, it's just that bitcoin seems to offer a lot more than another.
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Looking at the current bull run its evident that 2021 would be the year of Bitcoin (not a prediction, just my assumption). But will this be the year to HODL the existing Bitcoin or do daily trading? If there is no drop in the value of Bitcoin then trader's profit will be lesser than those who Hodl bitcoin. What's your take on 2021 and how do you presume this year for bitcoin?
Are you sure that those who do actively trade does have less income or profit compared to those who held? You do get the wrong idea since the more you do engage into the market the more chance for you to make profits more than on the amount that you can attain when you do just simply hold but of course this isnt for everyone and a much more riskier one. It isnt just right for those traders not to make money considering that the price is volatile which means that as long as it moves then you can make money out of it. 2021 will be the year of bitcoin? No one knows because when it comes to future talks then we do only end up on making speculations and presumptions. In the event of a bull run, it's not easy to trade actively, look at the current market condition, even the correction still bullish so far, we have been waiting for a big correction since bitcoin manages to reached $22k but it seems to persist to get back there. The question is; when the correction will occur? if $30k is the peak before a correction, then we can buy the dip at $20k and make more money in the next bull run in a few months. But if bitcoin continues to rise to $40k without any significant correction? people who do scalping can't expect much. |
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$29,228 was the highest just this day. What's Next Rally?
Tune in and let's wait how much it would be. But no need to determine how much it would be if you're watching the charts closely. Next time is $30k, that's it. $29,5k is the new ath right now, seems will trying to break $30k in a short time since bitcoin stable above $29k for a while. When bitcoin success breaks $30k then the next target is $32k, it may be reached in a short time but it might not happen as some predict $30k is the big wall of resistance and the peak before reversal take place. We will see which one of the predictions will be the reality, if finally bitcoin gets corrected, prepared for more than a 30% drop. |
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I would have to say bitcoin pumps does increase the alt prices as well but for some reason people do not see that or acknowledge that. I mean bitcoin went up this year right? How much did it increased? It increased about 4x at the very best case, look at ethereum though, it was around 130 dollars and now it is 720 dollars!! that is 5.5x times the increase as well.
It means if you consider it all, if you bought ETH at the start of the year instead of bitcoin, you would have made a lot more money. Sure XRP went down but that was their own mistake and it is not about crypto at all, you can look at all other coins and you can find similar increases. So, I would say "bitcoin pumps, alts pump even more" is the real deal, not dump. I like investing into alts and I haven't had an upset on them for the past 2 years or so, I have made a decent return.
The problem is the generalization that we use for alts is simply too extensive, what I mean is that we have thousands of altcoins so putting them all together like that is not fair for them, ethereum is a good project so it makes sense it went up along with bitcoin especially when we had that DeFi craze, however when you look at coins outside the top 100 or even the top 50 you will see the majority dumped after bitcoin went up since all of that money came to bitcoin once again since it became the main interest of institutional investors. Bitcoin, BCH, ETH, and Litecoin seem on the same page almost all the time, those altcoins always following bitcoin movement to increase while most altcoins on the red side. We can't generalize all the altcoins because big investors don't want to put their money there, and the players remain the same as in 2018 who dump it, they don't want to put so much money on it in fear of a crash that might happen if bitcoin fall. At the current market condition, altcoins remain on the downhill because of the black swan effect caused by xrp, traders sold altcoins after it crashed. |
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