I doubt Bitcoin will dip below 20k again

[DECABEATZ]

Too many institutions and big money behind it now!!!   Whats everyones opinion explain?BTC

[1715140647]

1715140647

[1715140647]

1715140647

[1715140647]

1715140647

[jackg]

A dip below 20k could be unlikely now (a safer bet would be around the 15k) level. A lot of institutions were or already have been in it. They mightve only announced it by now because we look more bullish (although I'm not sure if they have to declare it within a certain amount of time).

It's probably important to note that regardless of this, retail still moves a lot of economic power and price and so there probanly will still be a crash at some point (after a very strong rally).

[mk4]

I agree that due to the reason that there's significant money from institutional investors, that a drop in price would most likely be less dramatic as what we had in 2017-2018 simply due to them being less likely to be affected by FUD and panic(compared to most of retail investors). But still, to go below 20k all we need is a 30% drop, which is always always possible.

[ranochigo]

I'm conflicted. Significant portions of my investments were cashed out pre 19K levels and I was hoping for a drop so I can buy it back but at the same time, a drop wouldn't be good for the rest of my Bitcoins as well. I've been expecting a correction since 22K but it never came. Oh well, HODL and hope Bitcoin goes to the moon. 

[SoryuMaiden]

Too many institutions and big money behind it now!!!   Whats everyones opinion explain?BTC

Anything is possible. I can see bitcoin dipping below $20k for one last time anytime next year, but will immediately recover above $20k and will continue to rise from that time going forward. But there's some weird things happened these past few days including that incident wherein it went over $320k in Livecoin exchange due to "carefully planned attacks on their server, backend, and nodes" as described in one article. I just hope that this incident doesn't affect the reputation of Bitcoin as a cryptocurrency (if you know what I mean). I just wished I continued working with cryptocurrency.  

[raidarksword]

With the price of 26K$ it is possible people will cash out but i don't think it will go below 20k$ because it will have a price correction just a little and after it will steadily to it's current price right now. I have high hopes that bitcoin will go stronger this coming 2021 and more adoption will be in the way as well.

[1miau]

Most likely, the biggest difference we have now compared to few years ago (after Bitcoin dipped from 1,200 to 750): now, much more institutional investors are in and they are investing long-term and avoiding less short-term speculation. Maybe at some point, the'll also take profits but I'm not so sure if it'll have a big impact.
A dip from 1,200 to 750, how it happened few years ago, would now mean, Bitcoin would dip from 26k to 17k again, very unlikely. In addition, Bitcoin price dipped imediately last time when reaching the last ATH from 2014. Right now, we are already well above the last ATH (20k). Bitcoin is much more bullish than last time.
I would not speculate to hope for a big dip. People have waited for it since 22k, since 24k and since 25k and no dip happened.

News coverage about Bitcoin is positive in general, sometimes very bullish.
Here's a good list of people and recent investments supporting BTC this year: https://www.forbes.com/sites/michaeldelcastillo/2020/12/26/forbes-cryptocurrency-awards-2020-the-3-trillion-bitcoin-marketing-campaign/?sh=aaf173e184e4
And also "supported" by the Fed. 

[DevilSlayer]

It is possible but for if that really happened then it can be a sign that the trend is already exhausted, Institutions who bought bitcoin are usually will do their investment in long term where it only means that they will not easily let go their position because of the timeframe that they are using. The dip at $20,000 is possible  but that dip is a deep retracement which indicate weakness. I'm looking forward to see retracement at $22,200 because there are convergence there of the previous support and the 50% Fibonacci retracement. $20,000 is too deep for me and we should just expect shallow retracement for us to see that the trend is not yet exhausted and there is a high chance that a rally may continue again.

Institutions all over the world are now becoming interested to bitcoin and for me there are still a big move that may happen after they put some of their investment in bitcoin. I'm looking forward to see big businesses also to put some of their portfolio in bitcoin and there is a big chance that it may cause another price surge.

[pakhitheboss]

No one can predict what will happen next with Bitcoin. Looking at the present trend and the amount of money being invested it will go up but it will also go down as there are investors who will be booking profits. But, it is hard to say where will it land when it goes into red.

[Question123]

Everyone have free to drop their prediction or think about what is possible to the bitcoin in the next coming weeks if you doubt you can sell the bitcoin that you have and take the profit because other people do that to safety their money. Having doubt is normal but if you are really believer and you do a research you believe that soon that it will rise more.

[fishbonez11]

I agree that due to the reason that there's significant money from institutional investors, that a drop in price would most likely be less dramatic as what we had in 2017-2018 simply due to them being less likely to be affected by FUD and panic(compared to most of retail investors). But still, to go below 20k all we need is a 30% drop, which is always always possible.

I agree with this, Bitcoin is now backup with better companies and bigger institutions. There might be drop but it will not go less than $20K. Before the year ends, price will rich $30K and a bit of correction will happen. Though, the decision will be still based on the whales, they can easily manipulate the price.

[btcsmlcmnr]

I agree that due to the reason that there's significant money from institutional investors, that a drop in price would most likely be less dramatic as what we had in 2017-2018 simply due to them being less likely to be affected by FUD and panic(compared to most of retail investors). But still, to go below 20k all we need is a 30% drop, which is always always possible.

From $27,000 to $20000, it will need a fall of 26%. You are right with the 30% drop will break the support at $20000.

In the last 2 weeks, news media only have FUDs on altcoins and it is a long time since the last FUD attempt on bitcoin. All growth has its corrections so it will happen with support from FUDs. I believe institutes actually need corrections to buy bitcoin with cheaper price. Part of the market is on their hands and they can create a game for their investments.

Yes, I think it is possible but I hope it won't happen until the second week of new year.

[amishmanish]

I haven't stacked enough. More annoyingly, I haven't stacked as much as I could have. I think those of us who were going to retire early have been decided. Time to congratulate those who flipped their Alt-coin gains at the right time.

The institutions are in on it so it is quite difficult that traditional finance will find itself challenged by bitcoin anytime soon. Which means that the rest of us will have little choice but to continue being wage slaves.

Do keep in mind though that this is not the ATH. The 12K-15K levels that you (and I) wished we stacked more at, will soon become the 25K-30K levels we wished we stacked more at when the next cycle comes.

[Mpamaegbu]

No one can predict what will happen next with Bitcoin. Looking at the present trend and the amount of money being invested it will go up but it will also go down as there are investors who will be booking profits. But, it is hard to say where will it land when it goes into red.

This is the same mindset I have learnt to adopt when it comes to Bitcoin or anything cryptocurrency — Nothing is so certain that it can't be doubted — that axiom is apt here. Yes, quite a lot has changed in the pattern of investment with institutions coming in but these institutions are also handled by humans too who can be erratic in decisions taking. Until there's a law banning institutions from offloading their hodlings as and when due, I don't think we can bet on that; that there won't be a dump if institutions decide to take profit.

[maydna]

Everything can happen to bitcoin price. Perhaps, after it reached the highest price temporarily, the price will adjust to the lower price, and we might see the price will get a flash dump to happen in the market. But perhaps, the flash dump will not happen too often and too long because the price will be back to the last current price. If you see the bitcoin price get drop too deep, you can buy more bitcoin if you want as you will not see that thing happens too often in the future. But right now, we can see more opportunity for bitcoin price to break $27k-$30k soon.

[Argoo]

Now the price of bitcoin is already $ 26,780. In recent days, it has been growing very quickly and it is already difficult to predict something here. Of course, its price is unlikely to fall in the near future, however, in general, we can see the price of bitcoin below $ 20,000 more than once. The arrival of institutional investors in the bitcoin market has significantly strengthened the price position of bitcoin, since small investors are poorly predictable in these matters.

[kolesozw]

Too many institutions and big money behind it now!!!   Whats everyones opinion explain?BTC

While it's unlikely, it is still possible if too many people decided to cash out with the new ATH.

Yet, I expect to see Bitcoin price at $30 000, not $20 000 I'm more curious what will be Bitcoin dominance in the next month or two.

[pooya87]

Too many institutions and big money behind it now!!!   Whats everyones opinion explain?BTC

For more than 11 years bitcoin price continued rising based on pure adoption and individuals who keep buying bitcoin. Nothing has changed in that regard. Price will continue going up as individuals adopt bitcoin, but as the number of individuals grow, institutions jump on board so that they aren't left behind. In other words they are now playing catch up instead of contributing to the rise itself.

[btc_angela]

Too many institutions and big money behind it now!!!   Whats everyones opinion explain?BTC

At the current price? still possible though, but it we went $30k, $40k then it will be very hard t see the price dipping below $20k, unless we went into another year of bearish market with a lot of negativity and FUD around.

This has been the case in 2017, after reaching all time high, the market suddenly went into bearish. But currently we are not yet in the bubble so if we continue to be very bullish till next year then unlikely to see the price < $20k and we have to thanks those companies who saw bitcoin as a opportunity or a hedge.

[Rikafip]

A dip from 1,200 to 750, how it happened few years ago, would now mean, Bitcoin would dip from 26k to 17k again, very unlikely. In addition, Bitcoin price dipped imediately last time when reaching the last ATH from 2014. Right now, we are already well above the last ATH (20k). Bitcoin is much more bullish than last time.
I would not speculate to hope for a big dip. People have waited for it since 22k, since 24k and since 25k and no dip happened.

Even though situation is quite different now compared to previous bull run, I think that BTC dipping below 20k might happen exactly because no one thinks that it will drop so much. If I remember correctly, barely anyone expected BTC to dip sub 3k after reaching that old ATH, and we all know what happened.

Big players will want to acquire more cheap BTC and how else to do it other than dumping the price and buying from weak hands. And to do that effectively, they have to do it when no one expects, they wanna catch people with their pants down. As someone said, all we need is 30-35% drop to go below 20k, and if we know anything about BTC price, we know that such drops are always the possibility.

In the end, BTC dropping sub 20k is not a bad thing at all, it should be seen as an opportunity to acquire more.