Bitcoin at $20,000 is it still a good price?

[Power Man]

Anyone who wants to buy Bitcoin (BTC) in this period, given the recent explosion in price (+83% in 2 months, almost close to the all time high of $20,000), has basically two questions:

Is it too late to buy Bitcoin?
Is the current price too high?
Nobody knows the answers to these questions but, thanks to Bitcoin’s transparency, it is possible to use tools capable of estimating the degree of convenience of the Bitcoin price at a given time.

The Bitcoin Rainbow Chart
To assist us there is the Bitcoin Rainbow Chart, which estimates the supposed convenience of the price on a specific date.

This chart was created in 2014 by a Reddit user called “azop” and was then improved by the user “trolololo” on BitcoinTalk. Finally, it was published and kept up to date by Über Holger, CEO of Holger and responsible for the content of the Blockchain Center website, where the chart is located.

bitcoin price 20000

https://www.blockchaincenter.net/bitcoin-rainbow-chart/

From this chart, we can infer some important indications, such as:

This indicator is reliable, only if the time horizon is long term (from 4 years and upwards);
If instead, we intend to trade with Bitcoin, even in the medium term, it makes no sense to use this Bitcoin Rainbow chart.
Dreaming the $20,000: Bitcoin price suggestions
The current price of bitcoin ($18,500) is still in the range called “Accumulate” and by the end of the year a price of $24,343 would be considered “Still Cheap“.

The chart is logarithmic, which means that each level is equivalent to a growth of 10 times. Moreover, it uses a non-linear logarithmic regression function to approximate the Bitcoin price growth curve, as it is more reliable.

As already stated by Über Holger, it does not represent investment advice, as the past trend is not indicative of the future evolution of the price of BTC.

[KonstantinosM]

That chart is pure bull fuel. We'll see if it holds in the future.

Charts like this can be self-fulfilling prophecies.

I don't think 20k is moon, it just sounds like chump change for what Bitcoin could get up to, but despite its large marketcap the technology and usability is not there just yet. As always if you're not ready to kiss all that money good-bye, don't invest it in bitcoin.

[Lorence.xD]

That chart is pure bull fuel. We'll see if it holds in the future.

Charts like this can be self-fulfilling prophecies.

I don't think 20k is moon, it just sounds like chump change for what Bitcoin could get up to, but despite its large marketcap the technology and usability is not there just yet. As always if you're not ready to kiss all that money good-bye, don't invest it in bitcoin.

It looks like chump change but I do not think that it is a lot consider that this same valley in the market happened about 3 years ago, this might look cliché but the pattern is likely to happen again, maybe it will extend to January or it will dip mid-December. No one really knows what happens in the market but the patterns can be a helpful reference and there is no shame that someone is basing from that.

[hd49728]

If history repeats, bitcoin will move up to the next area before it will be pulled back. If this move happens, the bitcoin movements in this era after the third halving will be faster than its movements in second era after the second halving. The move to next bow would be in 2021 if history repeats at the same movements and same speed of rising.

I clicked on link to ANN thread but I did not find formula for those rainbows. Logarithmic (non-linear) regression - Bitcoin estimated value

[btc_angela]

That chart is pure bull fuel. We'll see if it holds in the future.

Charts like this can be self-fulfilling prophecies.

I don't think 20k is moon, it just sounds like chump change for what Bitcoin could get up to, but despite its large marketcap the technology and usability is not there just yet. As always if you're not ready to kiss all that money good-bye, don't invest it in bitcoin.

Chump change if we are going to hit $40k as the new all time high next year or 2022. But today we can't really say for certain, there are many predictions though putting the price along that way and even more, lots of model like S2F. But then again, everyone can make their wild and educated guess here. We are in the bull run so we will hear about it until the bubble gets burst. Self fulfilling prophecies? could be.

[batang_bitcoin]

Those are answerable based from your belief and stand to the market. If $20K is expensive for you to buy then let it be that expensive. But if it's not, do your thing and don't regret it if you enter late or early. This market is no guarantee for those investors that have a doubt upon investing. You should have already a whole decision before buying and you need to understand that it's volatile. When it's $3k, people say it's expensive, the same with $10k and so on.

[bitcampaign]

looking at a lot of articles and about the speculation that I studied, it looks like $ 20k is an attractive price that many people in the crypto world are waiting for at the end of 2020, as we know it is tantamount to breaking new ATH prices at the end of this year, but regardless of believe it will happen later, you better wait for a really good trend to hit it, people seem to be panicking to buy

[Wind_FURY]

OP, welcome to the forum. I'm a believer of the theory that Bitcoin is currently on a path to price discovery going to 6 DIGITS. Would I say that buying now is a "good price", I believe yes. But would I advice it? Probably no, you should wait for the dip. Why? To preserve your sanity if it actually dips to $15,000.

[target]

$20k is a bit high for someone who has nothing. Like me, I find it too expensive already.
Speculators are saying bitcoin still is in its infancy and this could mean that $20K is not the peak of its price. It could go up to $40K to $65K and this is just a conservative prediction there are more who are saying that it could reach up to $100K. Why they are saying it is because BTC's supply is very limited and more investors are coming yet.

[mich]

$20,000 is still a good price yes but I believe many experts predict there will be a correction in the price so you should wait before buying.

You do not want to buy now for $20,000 but have the price drop and wish you had waited.   But I also have read once price of ATH is met it may remain bullish. 

[davis196]

I don't know anything about this "rainbow chart",but it seems very bullish and optimistic.
What do you mean by "good price"?If you bought BTC at a price below 10K USD,then yes,20K is a very good price,but If you bought at 18K USD due to FOMO,then I don't know man,next year the BTC market might go into bear mode or it might follow the logarithms of the "rainbow chart" and reach 24K USD.
Bitcoin and all the cryptocurrencies are and will always remain unpredictable and I usually don't trust such charts,algorithms and logarithms,which are trying to predict the Bitcoin price.

[ololajulo]

$20,000 is still a good price yes but I believe many experts predict there will be a correction in the price so you should wait before buying.

You do not want to buy now for $20,000 but have the price drop and wish you had waited.   But I also have read once price of ATH is met it may remain bullish. 

we expect 20-25% price dump, at the moment we still have the sideway movement and it is having a great effect on altcoins. If you bought some altcoins even last week you are likely to making profit now. It will be wise to take some profit in December, the right time for this I dont know but I expect a very quiet January. Palliative doesnt seem to be coming soon especially for Americans so make the right decision fast in coming weeks to cover for January/February.

[yohananaomi]

If it stays above $ 20000, of course that is a good price,
because $ 20k is support, currently Bitcoin price is still trying to break resistance,
and now sideways at $ 17000- $ 18000, giving altcoins a chance to pump.

bitcoin has been too ahead for the past few months moving up without altcoins being followed because altcoins are not predicting the speed at which bitcoin is doing. Yes buddy, now is the opportunity for altcoins to start moving to increase. hopefully altcoins will follow the increase in the next year along with bitcoin with a value that will probably be more than 2017, we will look forward to that.

[LimLims]

Is it too late to buy Bitcoin?
Is the current price too high?

There is no perfect time to buy Bitcoins tbh.
Bitcoins prices were never stable, and we traders play an important role for the fluctuation of it's price .
Currently seeing the Price of Bitcoins we can easily conclude that Bitcoins will rise high in the next few weeks.
So if also Bitcoins are at 20k USD, it will easily go upto 22k to 25k.
So if anyone is waiting to invest on the currency then do it ASAP.
Moreover i would also advise people to invest only if they are able to bear losses, if you can't bear loss then it's better to give a look at the market for a couple of days.

[ALLON2017]

Think of all the people around the whole world who are are buying and holding it, on occasions some profit takers and panic sellers, but BTC will definatley will keep rising as time gos by.

[Wind_FURY]

$20k is a bit high for someone who has nothing. Like me, I find it too expensive already.
Speculators are saying bitcoin still is in its infancy and this could mean that $20K is not the peak of its price. It could go up to $40K to $65K and this is just a conservative prediction there are more who are saying that it could reach up to $100K. Why they are saying it is because BTC's supply is very limited and more investors are coming yet.

Would it be expensive for you if you knew for sure that Bitcoin will surge to $500,000, or more on the year 2022? The dips below the lower 5 digits, below ATH, might be our final opportunities to buy before it becomes VERY expensive.

[Rikafip]

Anyone who wants to buy Bitcoin (BTC) in this period, given the recent explosion in price (+83% in 2 months, almost close to the all time high of $20,000), has basically two questions:

Is it too late to buy Bitcoin?
Is the current price too high?

I keep hearing the exact same questions since the moment I heard about bitcoin for the first time, somewhere between 2013/2014 up until now. As a matter of fact, I ask those question too, when I though about buying bitcoin for the first time.

If we learned anything about bitcoin and its price by now, it is the fact that is never too late to buy more bitcoin. Of course, you won't take a loan or spend more than you can afford, but if you are into this in the long run, then even 20k price won't discourage you from buying more bitcoin. Sure, those that are more experienced may try to time the market and buy the dip as correction could happen soon, but imho, for an average investor it's never too late to buy. If anything, many of those that are thinking about buying bitcoin now for the first time would give up on that idea if price suddenly drops to 3,000 USD as they would think that price is going to 0.

[nutildah]

Would it be expensive for you if you knew for sure that Bitcoin will surge to $500,000, or more on the year 2022? The dips below the lower 5 digits, below ATH, might be our final opportunities to buy before it becomes VERY expensive.

Nobody knows that, though.

Bitcoin isn't your average investment vehicle as with no other asset does the price of transacting it rise along with the price of the asset. Bitcoin's intrinsic value is inversely proportional to the size of its transaction fees -- no other asset in the world possesses this property.

Having said that, I do believe BTC is eventually headed to six digits -- when or how it will get there, who knows. So yes buying now would still be considered cheap should my complete guess be proven correct at some point.

Even though I try to block the idiotic blue checkmarked BTC cheerleaders on Twitter that just regurgitate different variations of the same cultish chants on a daily basis and call it a living because that's what HODLers want to hear, Bitcoin Twitter is going to be markedly even more of a plastic suckfest than it already is starting tomorrow. The one downside of a bull run I suppose.

If you're at all wondering why I think this its because I know that Bitcoin is about more than just the price, and none of you can convince me otherwise.

[Wind_FURY]

Would it be expensive for you if you knew for sure that Bitcoin will surge to $500,000, or more on the year 2022? The dips below the lower 5 digits, below ATH, might be our final opportunities to buy before it becomes VERY expensive.

Nobody knows that, though.

OK, I understand your standpoint. There are risks.

Having said that, I do believe BTC is eventually headed to six digits -- when or how it will get there, who knows. So yes buying now would still be considered cheap should my complete guess be proven correct at some point.

OK? You have me currently confused. Which is it? Is it "very expensive" priced where it is today, or is it "cheap" priced where it will be on 2022?

[Maslate]

Good price it is, but always observed the chart f you are gunning for short term profit, however for long term, even $30,000, it doesn't matter as bitcoin will continue to rise as its demand is obviously increasing, it will take time but that's the essence of HODL.