~a major correction is impossible to avoid. My best guess is that we hit the bottom in 8,000 - 10,000 in 6-12 months. What do you think about this?
the major correction had occured in January and may not pull it any further below $27k, in a worst-case possibly to drop to $20k if something unexpected occurs but unlikely to hit $8k even in the next 6-12 months. Bitcoin predicted to grow over $100k this year and surely will get corrected after it reaches the ath, assume the peak is $100k and the biggest crash is 80%-90%, then it will be $20k or $10k as the lowest price in 2023 as the price decline gradually in a long bear market. However, we expect a tremendous increase this year to reach a milestone of 6 digits, not the other way around. |
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I agree with using stop-losses to avoid bigger losses when trading. And what the opening post did was correct, so we can do the same for the current price situation. Which is now at $ 32,000. So we can buy Bitcoin at its current price, and set a stop-loss at $ 28,000. Then just
waiting for the price to go up, I'll partially sell it when the Bitcoin price hits the price of $ 35,000. To be able to buy Bitcoin again, if it turns out
that the price of Bitcoin drops again to a price of $ 32,000.
It's not just using stop-loss to prevent bigger losses, how if after the buyback then the price continues to decline? That's why you need some strategies referring to the technical analysis and probabilities that may happen in the future, in this case; risk management and money management are crucial. Simply don't spend all the money to buy back, only use some and keep some as a reserve fund to buy more if the bear trends take place. |
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If war occurs it is likely to have a negative impact on the economy of a region or the country depending on the scale of the war, then the value of the currency can be worth nothing, bitcoin and gold may be the best option to transact which gold can be used locally and bitcoin for an international transaction. However, if a nuclear war occurs, then there is no point to store bitcoin as the internet connection will be lost there, it's better to use gold in that case, but the most important thing is to survive and meet basic food needs.
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After a significant increase in bitcoin price since October 2020, bitcoin has reached the new that $42k then get corrected 28%, and currently moving sideways above $30k, that's a normal market behavior but a different story compared to gme. Some corrections will follow after the bitcoin price spike up, but not a crash.
Moreover, the value of Bitcoin will strengthen against the depreciation of fiat currency such as USD while Pandemic still rules the world.
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We've just entered the q1 of 2021 if we refer to the history repeat itself, then the peak of the price will be reached by the end of the year in q4. So, nothing to worry about in the bear market, $30k is strong support, and it will take an unusual event to pull the price below $25k. Meanwhile, the price still moving sideways after the recent spike up, the price doesn't suppose to always increase all the time, if the price decline, then considers it as the discount time to accumulate more coins.
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We've seen a similar circumstance when xrp plummet after the SEC filed a lawsuit against Ripple Labs Inc. for conducting an unregistered securities offering and then bitcoin price increase afterward, that's no coincidence and has happened many times, so I would say yes there is a chance it will happen.
When altcoins fall and bitcoin on the rally causing fomo, people will sell alts and shift their funds to bitcoin which offers a greater chance of making a profit.
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I bought a bitcoin what 0.0003 BTC last year November with only money that left with me when I finished my program and named it investments, many of my friends started laughing that my money has gone and bitcoin will fall and is out of surprised bitcoin moved to 19k, 20k, 30k and 40k, so I'm excited for having double of my btc within some months, I want to know if I will sell it or withdraw it, because is a investment money not for spending.
They might laugh because the amount you spend to buy bitcoin and consider it as an investment, 0.0003 worth $10.32 at the current price of $34,400. When you bought it, the price range between $14k-$18k, how much money you spend to buy it? Furthermore, there is no point to sell it now, better to accumulate more bitcoin for the long term, if you want to describe it as an investment, collect more than your balance now, probably BTC1 someday as the target. |
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That might a bear trap, just wait for a few days then it will exceed $40k again, this possibility doesn’t hinder the market from testing the support levels.
The last surge from $31k to $38k may be caused by Elon musk after add #bitcoin hashtag on his official Twitter profile, and then the market rejects further upside then corrected to $34k. This retracement indicates the gains may occur in a short time and bullish market sentiment will push the price to climb up.
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There are
2 conditions that may cause it.
- bitcoin price gas drop in a second, at a time where the price fluctuates, it could rise or fall instantly.
- shady exchange charge a high fee, terrible service, just read their terms of services.
Yes, better to choose another exchange for buying bitcoin if that's the case.
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For the first time ever, Bitcoin reached a new All-time-high (ATH) of $40k per coin. Those who held Bitcoin since 2017 (or before) would've made a lot of money by now. Unfortunately, prices have stalled as Bitcoin is stuck between the $30k - $32k range. It could be the cause of whales buying the dip to pump the price at a later time. Whatever the reason for the price drop, Bitcoin is still much more valuable than what it was a couple of years ago. If the pandemic continues to take the world by storm, we may continue to witness new ATHs in price. All of this makes me wonder, will Bitcoin will reach $50k by 2021? If it does, 2021 will prove to be Bitcoin's biggest year with astronomical returns for early investors. Right now could be the perfect buying opportunity while Bitcoin is still in the $30k range. What are your thoughts?  No, it's not stuck as we've seen THE price spike up yesterday up to $38,7k albeit only briefly, and today's range between 32,860 — 34,931 based on bitstamp. Bitcoin definitely will reach $50k, it shouldn't take so long, probably in February-March and $30k is a good entry point for those who want to take profit before it climbing up again hit a new ath. Bitcoin undoubtedly provides a great return on investment considering the very significant price increase, not only for early investors, especially the price forecast in this year may reach over $100k. |
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In my country the situation is similar. All product prices doubled, meat and fish prices increased around 30%, people have huge debts, live in credit and have no money to pay for community facilities, government do nothing to provide solution of peoples problems but enhance Covid-19 quarantine conditions. 2020 was the worsted year ever. Hope 2021 will be better.  Depends on the country whether they can produce basic things or import them. Since my country can produce all basic needs from agricultural, livestock, and fishery products so that the price remains affordable without a significant increase, if there are some products whose prices are soaring, namely health commodities. |
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I'm buying coins, freaking again and selling them. I'm still learning to trade, made some lost much larger and recovering again. The difficulty on making a trade on such volatile market is to find the right time to take profit or stop loss. What I can say for sure is bitcoin is much more inflated than what it's worth at least at the moment. Anyone buying now for the long term would get hurt.
That's called 'weak-hand' because the price of bitcoin will recover after it fell, although the best time to buy at a lower level below $40k. Learn the technical analysis and trends on the market to decide entry point, stop loss, and percentage of profit. Nonetheless, a different perspective for long term holder even for them who bought at $42k as the price will increase significantly this year, $50k-$60k in next month and may surpass $100k in q4. |
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assuming the history of BTC from 2017 - 2018 will repeat this year, what you'll do with your BTC?
Personally, I would choose to convert the BTC I have to stable coins. Or maybe convert some to flat whenever I gain decent profit. While continuously buying until it indicates that it is on peak and will start to crash soon. Then I will do my ways to secure what I have generated. Most people will do the same, that's why the snowball effect happens, hence the market crash continues to pull the price gradually decline over time. The only problem is we don't know whether the price will rebound or won't recover, for people who sell at the peak have earned the profit to buy back but for people who miss the opportunity to sell, the majority will wait for the price to rebound which doesn't happen then they sell at a lower price at loss. |
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They might didn't expect bitcoin to reach this price and didn't comprehend how to store bitcoin correctly or just forget the password. They might have tried, but failed, no one could help them to obtain the lost coins, if someone could, then we should be worried about satoshi's coins.
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The price movement going sideways for days as the decline goes a bit further than it would and not implying a significant increase to $40k yet, then it's unlikely to reach that level this week. Although the technical analysis indicates it could be that way, the downward pressure may not over yet as a necessary pullback before a big rebound, many investors waiting for a lower entry-level.
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Banks govermemts need to put alot money in btc and eth
This way there is not so much money so no inflation
LoL, so funny, the money still there, it's not vanished into thin air. spend 60% money on btc and eth will cause a sudden pump to crypto and it will crash afterward because people cash out take profit, it becomes fiat currency once again, an endless cycle. After all, it's an impossible idea from the beginning. |
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Not Loosing Money is more Important than Making Profits.
This is by far the important rule, people when they think of trading think of all the money they are going to make not understanding that if they actually try to make as much money with their small capital they will soon lose it all, the most important thing to learn is to trade defensively and not lose money, it is obvious this way of trading will not produce the huge profits everyone wants but over the years and the decades it is the only way of trading that will make you wealthy. The main target of trading is to make profits, not the other way around, so stop loss is a common feature for traders but not for long-term holders, they prefer to buy the dip rather than sell at a loss because we know bitcoin value will increase eventually. The idea of trading is like gambling where people who don't know to predict the market will lose but the people who lose money are those who cannot be patient waiting for the price of bitcoin to recover, yes it may take weeks, months, or years but it will someday. A different situation for trading altcoins, better sell it before its value diminishes for good, hence do not trade shitcoins, stick to some major coins in the market such as eth and ltc. |
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If we take a look at the last cycle chart then bitcoin went from $20K to $3k in the long bearish run so anything is possible and we can't predict anything until it happens in the cryptocurrency. As for now it just swinging in the region and hope it will be just a correction and also there are some analysis says that it will drop to $27K.
Thought it already did a few days ago? I mean okay, $27,800 but that's semantics. I think Bitcoin doing another 85% shedding of value isn't completely off the table (and I know I've said it before I'm expecting that every single cycle) but even if that happens, it's still a rock bottom of $6700 or thereabouts, and that'd take a massive Black Swan event, which would result in a very, very desirable bounce back to propel another rally. That scenario's not coming anytime soon though. It's far from being done with a 2021 ATH. Agree, only if a massive unpredictable event occur that affect the bitcoin market may cause a crash over 50% drop but in a normal circumstance, it's improbable to be the reality considering market condition these days; strong support, high demand, institutional investors, and big companies accumulating bitcoin, the trends still in the bull market. Today's bottom unexpected drop to $29k, but it's a higher low, after the recent high, an opportunity to buy bitcoins before it taking off. |
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Still there is a strong resistance above the 30K price range so I don't think we have any chances for now to reach 16k region but if you believe that we already entered into bearish trend and you are in profits then make your decision with cashing out options.
Lot of ways available to convert BTC to fiat like Bitcoin ATM, trading platforms and P2P exchanges with different price range which maybe above or below the market price depends on which you choose.
Local exchange is a good option to cash out, easier to get fiat currency or trade it for stable coins. However, it seems impossible for bitcoin to drop 50% from this level, yes $30k is a strong support level and bitcoin always maintain its position above this level, yet we're not entering the bear market, just a correction after the ath, a brief dip I would say, as the chart and technical analysis indicate that bitcoin will increase again in February, back to the top. |
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There are two people in the market who aims for profit, traders and investors, depends on the time frame, how long you're willing to wait.
But the most important thing before invest is doing research and learn the fundamentals of bitcoin, then determine your strategy.
Bitcoin value supposes to increase over time, hence investors who aim for a higher target require extra perseverance, patience, and self-control to wait for a longer period than traders.
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