BTC back to $20000 possible in 2021?

[adaseb]

I remember back in late 2017, everybody wanted BTC to go back to $10K so they could buy it, this was after it peaked at $20K. I also assumed $10K was a great buy in area. So I made a large order at $10K, didn't think I would ever get a fill and then a few weeks later.... order was filled.

I think the price went to like $12K topped, only to never return to $12K again until years later. Then shortly after it had a bad crash all the way to $6K. So if history is to repeat itself.

What if it goes to $20K and never back up again until years later? We might go to $20K, then $25K and then below $20K again. So its better for BTC to never retest $20K again, because most likely it will spook many people and many will sell the bounce after $20K at maybe $25-30K and then it might enter a bear market like last time.

[hatshepsut93]

This is Bitcoin, anything is possible here. 2019 actually had a few attempts at bull runs that failed, so there's actually no rule that says that if Bitcoin is going up, it will continue going up for a long time. We hope that this is a repetition of a 2017 scenario, but it could be a completely new scenario too. Start taking profits now if you can't afford to risk, or just relax and hodl if you won't mind the possible crash.

[coinbiz]

With BTC hitting $3k after the run to $20k, that was a 85% drop.  An equivalent drop of 85% from $33k today would put it roughly around $5k.  It's not unlikely and technically speaking it would be a double bottom since that was exactly where it dipped back in March 2020.

One thing that gets overlooked is that there is a lot of money printing.  I'm not just talking about Tether.  

The US Federal Reserve is printing lots of money.  The Dow Jones, Nasdaq and S&P 500 are at all-time historic highs right now.  Because they're propped up with all the money being printed.  Bitcoin isn't rising in relation to that - it's rising because of that.  Wallstreet is a much bigger player today, and these companies have the funding to buy bitcoin, because the US government is printing more money.  Companies that have no business getting into bitcoin (i.e., MicroStrategy) are buying bitcoin.

If you check the graphs of interest rates with the Dow Jones, the peaks and troughs correlate with those of Bitcoin.  When Bitcoin crashed in January 2018, there was a drop in the US economy as well.  Bitcoin prices today move much more closely with the US economy since 2017.  

Does anyone really think the US economy is going to keep growing explosively?  I don't think so.  

The market is full of heavy-hitters now, and I don't think they'd want weak hands to be in.  Weak hands are only helpful for driving up FOMO.  Soon enough we'll see a whole slew of exchange 'hacks' and bad news as the so-called reason for the next pullback.  In reality the reason is because there will be less free money being printed to drive up the price.  It's a cycle.  Enjoy this peak while it lasts and ride out the waves to the next one.

$20k from $33k would be a 40% drop... extremely unlikely this early in the bull run.

I seriously doubt we'll ever see $20k again.

Hopefully, that would be the case. But companies are now holding more bitcoins than any individual hodlers, this could spell disaster in the market when those companies decided to dump the coins, at the same time, it will be a blessing for people like us that the price will drop which means that we could buy more bitcoin with our money.

Exactly.

[gabbie2010]

The price Bitcoin now becoming more unpredictable unlike before, nobody will ever believe the price will reach $34K as early in 2021 within 3 days to new year now meanwhile the tendency of it dumping massively is also imminent based on the fact that history repeat itself however the pullback might stop at $20K support zone although there is another strong support at $10K, institutional adoption will not warrants it to go down to that level unlike in 2017.

[CryptopreneurBrainboss]

Nowadays, no one believes BTC will dramatically drop to below $20K in 2021. Everybody is crazy in bull market , but risks are building up.

But the energy changes immediately the bear steps in then you'll beginning seeing prediction of how low the market can go. When the whole market is bullish you'll hardly see a possibility of it dropping very low. Remember 2020, nobody predicted a low of $4500 but it did happen due to the pandemic that affected all market. Bitcoin been below $20000 can't be ruled out in 2021 as nobody know what bad news the years has in store for us but hopefully it'll not be very devasting.

We can see how the SEC going affect RXiP sorry XRP is affecting the price and privacy currency are already getting delisted form some exchange. Probably there is some bitcoin fud upcoming. I think (my personal opinions though) we can retest the $20k price in 2021 but the overall sentiment is still bullish and the then retest the $10k.in 2022 when the bear season begins.

[yohananaomi]

Seeing the corrections that are often made by bitcoin when the beginning of the year have occurred and there are no surprises that make us worry when like 2018 where the downward correction continues. now bitcoin has dropped and stopped around $ 31K and it seems comfortable to hang on there, this indicates that bitcoin will be able to increase again.

it looks like the prediction of the halving will happen, if that's true then there will be an extraordinary surprise for bitcoin this year, a renewable ATH will be formed again. but the most important thing is that altcoins can also get moving and receive renewable ATH too.

BTC back to $ 20000 possible in 2021 may be sure to be delayed again.

[Hypnosis00]

It is likely that we are stopping at $34,000. I think we are not yet done with the bullish season as the BTC price still at high and altcoins had come to follow. Ain't to say that $20,000 is not possible as we are in that level before, the chances is big and that only it happens when this bullish had come to an end (in the coming days). We know that this Bullish season can't be forever and that we get back down again sooner.

[kapalmabur]

Nowadays, no one believes BTC will dramatically drop to below $20K in 2021. Everybody is crazy in bull market , but risks are building up.

If you understand the difference between this year's bullrun and 2017, then you will understand that Bitcoin price will not dump below $ 20k or $ 10 again, bitcoin has entered a new era where mass adoption occurs, demand increases and prices will continue to rise, just hold on until bitcoin is priced over $ 100k

[TravelMug]

Nowadays, no one believes BTC will dramatically drop to below $20K in 2021. Everybody is crazy in bull market , but risks are building up.

If you understand the difference between this year's bullrun and 2017, then you will understand that Bitcoin price will not dump below $ 20k or $ 10 again, bitcoin has entered a new era where mass adoption occurs, demand increases and prices will continue to rise, just hold on until bitcoin is priced over $ 100k

Not just mass adoption, but bitcoin is becoming the number hedge by institutions and big companies, used to be gold but there is a total shift of the narrative to bitcoin now.

In the last 3 days or so we have seen some dump to $29k but now the price is going to $33k+ again, indicative that every chance this companies can get their hands on bitcoin from weak hands, they are going to buy it in bundles and huge amounts. And with that, it's hard to see the price going $20k unless they sell, but I doubt that, this companies is using it a hedge.

[STT]

Its almost a jinx to think in such a way, volatility is something thats not going away.   People need money for all sorts of reasons some essential some not, sometimes they just have to sell and its nobodies fault if the price goes back to the 200 day average one day.   A big spike down can happen same as a spike up so a more involved answer would be, do we speculate the 200 day moving average will become a negative gradient in 2021 and that part I would guess is considerably less likely but erratic movement I think is part of the landscape.

[pooya87]

If you go back about 140-150 pages in this board (speculation) to reach early 2017 or if you go back 350 to 400 pages to reach 2013) you will find your answer in the same topics that were being posted back in 2017 and 2013 during the time when price broke the ATH of those times (like the $1200 in 2017) and has been going up and was 75% higher (in $2100 to $3000 range). It was the exact same time as now and people were asking the exact same question as yours ("BTC back to $1200?").
The answer is all the same too, NO. You have to kiss that opportunity goodbye.

P.S. I strongly encourage everyone to do this, it is a very good experience to see nothing really has changed with the trends.

[crwth]

It seems that the power of the bulls is still overwhelming compared to the bears with the market. If we have to cover most of the things in the market, they are still not stopping. Until when is the question that it will remain at the range of $35000 and $30000, but I don't think it's going to get back into the $20000 level. I believe it will be near the second strong support at around $25000—possibly another rebuy opportunity.

Unless there's going to be a new pandemic or something that would alter the course of history again, I don't think it will go down this year.