I doubt Bitcoin will dip below 20k again

[Smitty Werben Man Jensen]

anything can happen, for now it's not, because the bullish signal is still very strong for bitcoin,
if someone hopes to get back below $ 20k, bitcoin must have fud.

[Phoenix_PROG]

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

Who knew that bitcoin could ever taste the 3500$ price target this year again? I thought the lowest price of Bitcoin this year would be around 7k or 6k, But still 3500$  happened in March 2020 doesn't? Trying to predict what could happen in future is a waste of time, tomorrow isn't even certain

[magneto]

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

We're simply following a long term growth trend of BTC price that closely follows adoption both on the grassroots and institutional level.

I don't think that it is necessarily guaranteed that $20k will become some sort of impenetrable support level - that is simply not how market dynamics work. The same has been said about the $10k support after the 2017 bull run, but as we've seen with the flash crash during the pandemic, short term markets are simply unpredictable and even previously thought support levels of $4k and $6k had been breached simply due to irrational actors.

I'm a long term BTC bull and the recent influx of institutional assets certainly furthers BTC's case as a global reserve currency and anchor between financial institutions for settlement purposes and storing value, but I would bet that $20k is not some concrete support and will be breached in a market downturn - rational or not.

[LogitechMouse]

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

Bitcoin going down to 20k again has a very low chance as of now and now that we've seen different institutions coming in and investing into it, I doubt that it will happen.

Well, if Bitcoin will go to 20k again then I will be happy to accumulate more . I've watched a video on Youtube saying that the last time Bitcoin will reach the $10,000 price will be the last time that it will dip to that price and it seems that it is true since we are far from that price already. I'm not saying that Bitcoin will not dip to $20,000 again since anything can happen. Just hold some cash in case worst case scenario happens .

[blckhawk]

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

No one really knows because anything can happen with Bitcoin. Not sure if it will not drop below $20k though. Anyway, I also believe that Bitcoin will not plummet as we had before 2018 because the growth is now stronger and firm due to the massive adoption of institutions and big companies not by FUD. Perhaps it will drop around $15k but I don't think it will go lower beyond $10k. One thing is for sure this time it would be a lot different but still we must not let our guard down and be aware all the time.

[bitbunnny]

Past experience teaches us that everything is possible when it comes to Bitcoin. We also know that volatility is natural part of Bitcoin functioning.
I remember back in 2017 that many though the same, price can't get low anymore and we all know what happened after.
To my opinion Bitcoin will fall under 20000$ again but no one can't say for sure and that doesn't mean that the price will stay low. How deep volatility might go it's hard to predict.

[buwaytress]

Nah, would be too good to be true to never again see sub 20k BTC. People need to get their rocks up from selling, and then there's probably enough big orders waiting to trigger around 19k.

Seeing BTC losing 25% of its price even in 24 hours doesn't seem unlikely. That may all change if Bitcoin somehow shrugs past 30k and then spends loads of time above 50k, but it'd need to be at least 12 months high above 20k before people forget about 2017 ATH and it becomes a footnote in that all-time chart.

[wheelz1200]

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

 

Honestly anything is possible with price.  I dont think it will dip under but I've been in too long to not realize a dip to even $10k wouldn't shock me.  This time could be different but bitckin has always retraced at some point.

[doomloop]

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

Who knew that bitcoin could ever taste the 3500$ price target this year again? I thought the lowest price of Bitcoin this year would be around 7k or 6k, But still 3500$  happened in March 2020 doesn't? Trying to predict what could happen in future is a waste of time, tomorrow isn't even certain

You are forgetting that we started the year at around 7k as well, so "lowest of 6-7k" is unrealistic to think about when you start the year at 7k already, how could the start of the year would be he lowest of the year? When we reached to about 9k dollars, there was a pandemic crash in everything, and not just fiat neither, from gold to silver to oil and of course to crypto everything crashed.

This is what we were not expecting and price obviously dropped to 3.6k or so levels, not because it was anything bad about crypto but because the world was on fire. Obviously we recovered very well and now doing a lot awesome but that doesn't mean that with any crash we can still go under 4k, it just means that we were way too close back when the year started, so it wasn't really a shock to get to 3.5k, if we have another crash, I doubt it will get there again because we are further away this time around.

[FireBallex]

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

Like forever? Don't play yourself mate anything is possible, there might be a massive sell off in the future for some unknown reasons just like how things happened in March - April 2020, always expect future dumps because bitcoin isn't ever going to be stable like Fiat or stable coins

[Hamphser]

Nah, would be too good to be true to never again see sub 20k BTC. People need to get their rocks up from selling, and then there's probably enough big orders waiting to trigger around 19k.

Seeing BTC losing 25% of its price even in 24 hours doesn't seem unlikely. That may all change if Bitcoin somehow shrugs past 30k and then spends loads of time above 50k, but it'd need to be at least 12 months high above 20k before people forget about 2017 ATH and it becomes a footnote in that all-time chart.

The question is, they would able to forget it out in a 12 month run? I cant really blame off on why would they really have that kind of doubts towards the price.
When it comes to correction then this isnt something surprising because it can really correct way more than on the percentage that you had mentioned.

I never ever believed or tell myself that it cant really be crashing that hard and 25% isnt really something that cant be attained in a short span of time
if majority will really be deciding on releasing off their bags but as said there is really a lots of people who have been waiting for that certain period of time.

[romero121]

The market of bitcoin getting dipped isn't a big thing. When we're trading with the cryto people might find it new. Anything new to the common man's eye gets examined. So, through this process people get to know much about bitcoin. Here the market falling below $20k needs to be taken to the family head. As per different experts prediction it is mentioned, we'll experience more growth than decline in the falling month.

[judeafante]

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

I'm not ruling it out anything is possible in a highly volatile market and we have history to prove that, even if there are many institutions or whales coming and buying there are also whales and institutions that are selling for profit, so always expect the unexpected.

[AmoreJaz]

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

I'm not ruling it out anything is possible in a highly volatile market and we have history to prove that, even if there are many institutions or whales coming and buying there are also whales and institutions that are selling for profit, so always expect the unexpected.

as we dont know the motives of these whales and institutions, we are blind for what may happen next in case they made their decision to what will happen to their holdings. crypto market is very unpredictable so as a crypto holder, one should have their plans ready at any given moment of time.
trust your instincts and dont rely from naysayers. even so-called experts are not to be taken seriously. if youve been long enough in this industry, you know what to do already.

[Jating]

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

I'm not ruling it out anything is possible in a highly volatile market and we have history to prove that, even if there are many institutions or whales coming and buying there are also whales and institutions that are selling for profit, so always expect the unexpected.

as we dont know the motives of these whales and institutions, we are blind for what may happen next in case they made their decision to what will happen to their holdings. crypto market is very unpredictable so as a crypto holder, one should have their plans ready at any given moment of time.
trust your instincts and dont rely from naysayers. even so-called experts are not to be taken seriously. if youve been long enough in this industry, you know what to do already.

Well for companies like MicroStrategy (not sure if we can call them whales or manipulators), their motive is simply, buy as much as they can because bitcoin for them is a hedge for their treasury assets.

That's why it's really hard to manipulate bitcoin now because of so many players who has their own profit. Of course the market is very unpredictable, but then again the bitcoin narrative has change. Institution positions has shifted, so conditions is ripe for a bull run next year.

[buwaytress]

The question is, they would able to forget it out in a 12 month run? I cant really blame off on why would they really have that kind of doubts towards the price.
When it comes to correction then this isnt something surprising because it can really correct way more than on the percentage that you had mentioned.

I never ever believed or tell myself that it cant really be crashing that hard and 25% isnt really something that cant be attained in a short span of time
if majority will really be deciding on releasing off their bags but as said there is really a lots of people who have been waiting for that certain period of time.

Hard to say, really. 12-month runs seem like a blip when you've seen one cyclical rally already (though the correction afterwards does seem to purge the memory for a lot of people it seems, no matter how long they've been "in the game".

Oh and yeah, 50% corrections? More than possible with Bitcoin, we all know that, but it won't happen in 24 hours again (will it?). Was bad enough to see at 10k, would be catastrophic at 100k.

[ethereumhunter]

bitcoin price is still very strong above support, $ 25k is very strong to hold back from going down,
indeed right now is very good to buy bitcoin even though the price is above, $ 20k i am sure the price won't breakdown below that.

Hopefully, that price will not happen unless there are flash drops happen to the market. But if we see the market, bitcoin price is at the bullish trend now, and although we see the price was down yesterday, the price is going strong again this day. The bitcoin price will be at another high price in the next year and will help us make our dream come true. If you want to buy bitcoin, you need to find a good time to buy, especially if there are drops like yesterday, so now you can see your money value will be back to increase.

[exstasie]

Nah, would be too good to be true to never again see sub 20k BTC. People need to get their rocks up from selling, and then there's probably enough big orders waiting to trigger around 19k.

Big level there. It's the point of control in this rally's volume profile:



So ideally we'll actually get a flush below it. Here's why: I'm a believer in gap fill theory (more so for volume profiles than price gaps in limited hour markets), and also max pain theory. The market is very long right now, with swap funding rates holding in the 0.05-0.1% range. Bitmex March contract is trading at a 4% premium to spot. Based on the volume profile, bulls will be praying for that POC to hold. A flush below it would therefore cause a very painful stop run, squeezing out and/or liquidating leveraged longs and weak hands after the highest volume level in the rally is lost. That's maximum pain, and it would be the ideal reset to propel BTC into the next stage of the bubble.

Historically, the maximum downside is ~42% in this market context. 40-42% would be an epic knife catching level, if we get there. This also coincides with a ~0.618 retracement, which would match my theory that we are in a nested 1-2 i-ii count. More on that later in my analysis thread. Zooming in, I think a stop run below the December 10th low (~$17.6K, the orange arrow) would create the perfect bearish/skeptical narrative to propel the bull market forward.

Just an idea.

[Branko]

below $3k if SEC goes after tether

XRP troubles will look like childs play

[shoreno]

below $3k if SEC goes after tether

XRP troubles will look like childs play

whats the connect of btc to tether ? and tether wont be next because tether was the real stable coin that is been opened legally but xrp have illegalities even right at the start .

 is the btc that needs to be involved in sec issue before you say thay its price will drop below 3k but then again that wont also possibly happen , it was already explained in the past but to the op's question i think that was even more possible because we arent far yet from what we have now .