I doubt Bitcoin will dip below 20k again

[sayaya17]

If investors want to take profit at the moment, maybe many of them sell it and take those profits, so that bitcoin can go down.
This is an opportunity for someone who wants to buy back bitcoin, even for those who do not buy at a cheap price. But indeed,
because there is currently a lot of  influential  intuition  behind bitcoin,  bitcoin  will quickly recover  because  once  they  sell it,
they will buy back after taking the profit.

[coinbiz]

As the Covid-19 pandemic has demonstrated any kind of global shock will send jitters in local economies or indeed global stock markets in this case Bitcoin itself where investors who had parked funds in crypto pulled out causing the price to collapse to sub $5,000. (Which is more likely the "real" value of Bitcoin)

This rally is a painfully obvious pump, so watch for the dump which is probably just around the corner.

I also see a crash to $5k levels.  Double bottom where we hit around March 2020.  

More institutional investors actually makes the crash more likely.  Nasdaq, S&P 500 and Dow Jones are all at their highest levels in history right now.  That US market bubble will pop, it's only a matter of time.  When it does, many institutional investors will get hit hard.  The first thing they'll get rid of is speculative investments.

[exstasie]

As the Covid-19 pandemic has demonstrated any kind of global shock will send jitters in local economies or indeed global stock markets in this case Bitcoin itself where investors who had parked funds in crypto pulled out causing the price to collapse to sub $5,000. (Which is more likely the "real" value of Bitcoin)

This rally is a painfully obvious pump, so watch for the dump which is probably just around the corner.

I also see a crash to $5k levels.  Double bottom where we hit around March 2020.

How are people so bearish right now? $5K, seriously? In your dreams!

$20K is still possible. That's an awesome knife catching level if the market goes there. But $5K or $10K? Those levels are gone forever, I'm pretty confident to say.

But if this is really how people are feeling (like BTC is about to have some apocalyptic crash) then we might just keep surging higher and $20K will be off the table too. That's the contrarian take. I noticed shorts almost doubled on Bitfinex over the past couple days as BTC pushed above $30K, which lends more credence to that theory too.

[Kong Hey Pakboy]

I also doubt that bitcoin's price will go down below $20K again because bitcoin is currently in the range of $34K, and more people are still buying bitcoin due to mass adoption. So I positively think that bitcoin will not go back below its $20K price, that is why I feel sorry to myself for selling most of my bitcoins too early.

[bryant.coleman]

I also doubt that bitcoin's price will go down below $20K again because bitcoin is currently in the range of $34K, and more people are still buying bitcoin due to mass adoption. So I positively think that bitcoin will not go back below its $20K price, that is why I feel sorry to myself for selling most of my bitcoins too early.

Don't be sorry for selling your coins. I am someone who sold around BTC30 for $200 per coin (back in 2015). But I am happy that I still have some coins left in my wallet. Better than 98% of the world population who don't own any BTC, right? BTW, there is no guarantee that the prices won't go back to four-digits again. It has happened in the past, and it can happen in the future as well.

[jostorres]

As the Covid-19 pandemic has demonstrated any kind of global shock will send jitters in local economies or indeed global stock markets in this case Bitcoin itself where investors who had parked funds in crypto pulled out causing the price to collapse to sub $5,000. (Which is more likely the "real" value of Bitcoin)

This rally is a painfully obvious pump, so watch for the dump which is probably just around the corner.

I also see a crash to $5k levels.  Double bottom where we hit around March 2020.

How are people so bearish right now? $5K, seriously? In your dreams!

$20K is still possible. That's an awesome knife catching level if the market goes there. But $5K or $10K? Those levels are gone forever, I'm pretty confident to say.

But if this is really how people are feeling (like BTC is about to have some apocalyptic crash) then we might just keep surging higher and $20K will be off the table too. That's the contrarian take. I noticed shorts almost doubled on Bitfinex over the past couple days as BTC pushed above $30K, which lends more credence to that theory too.

Unfortunately there are tons of people who think a crash will be inevitable, I do not agree with that, I think we will be over 5k forever, and will never see under 5k ever again, but I also agree that there could be a fall no doubt. Bitcoin is not something that goes up forever, it can't be like that because it would require limitless amount of money coming into bitcoin, however it also doesn't mean that it has to crash to 5k neither, we could be at around 20k-25k for example, that would be a "crash" because we would lose nearly half of all the market but we would still be over 20k.

The reason why those people think that 5k is possible makes sense though, because last time we peaked on 20k, we went down to 3k, so that was 7 times higher required to go back, 3k times seven means 21k, so similar mindset is 35k to 5k, because 5k times seven means 35k.

[Psynthax]

We back 2017 most of us thinks that Bitcoin is unstoppable that it will not fall because it was well known and famous already in the whole world until it falls down as low as $5,000 in which most of us lost everything like a disaster in our fortune because we are all unprepared and just relying on hope. I will not say that do not trust Bitcoin but everything is possible that the bearish might happen again anytime because the truth is no one can predict the market movement.

That's possible but the market in 2017 and in 2020-2021 as of now really different you know, back then it was mostly made up by some individuals buying bitcoin but in massive scale but now most of large corporation and investment company which are the big boys when it comes to finance like this comes to play.
They not gonna let btc go down like a waterfall.

[STT]

Heres your dip scenario which is to first fail 2 day average while closing below the prior short term top and confirming it on 4hr bars.    Its not really showing signs of doing so but it is drawing closer to the 2 day average at least while we go sideways which is some indication to pay attention to all possibilities.   I dont see the danger of downwards there at present, I would guess theres a better warning of major moves before it occurs, so long as you accept thousands isnt big moves any more.
  So I'll call it out simply which is 4hr bar close below 30.4k would make me think something greater is up otherwise the trend is your friend which has been up for a long while.   A proper pullback would be to 24k, I'd like that because I think it can rise from there while also scaring people which means profit for the brave otherwise its not that clear where are the boundaries

[thecodebear]

When's grayscale gonna start buying again? In like 3 weeks or something (maybe less)? When that happens that'll be another $300 million or so taken out the market every single week. So if Bitcoin is going to have a correction here it's got about three weeks to get it done. That makes $20k seem very unlikely. Grayscale of course doesn't control the market, but it's gonna be hard to have any correction from these levels once a player that buys up 10,000 or so BTC every week rejoins the market. And you know investors who use Grayscale are going to be itching to get back to buying because in the last three days they were open for investment before they shut down at Christmas, those investors were rushing to get in as they bought about 10,000 BTC each day instead of per week!

I don't know what's going to happen rest of this month, but February is sending this thing over $40k if it ain't there already.

[mich]

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

Im in agreeing with you that we wont see Bitcoin ever drop to below 20k again.  And i cant say I have always thought about the price like this.
Current price is around $33k there would need to be trillions pulled out of the total marketcap.  I cant see it happening really but we never know for sure.

[mirakal]

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

Im in agreeing with you that we wont see Bitcoin ever drop to below 20k again.  And i cant say I have always thought about the price like this.
Current price is around $33k there would need to be trillions pulled out of the total marketcap.  I cant see it happening really but we never know for sure.

As long as we are open of all the possibilities, we will never be surprised.

The market has not changed, maybe we are in a bull market now, but we also have the bear season, and that will make bitcoin to drop below $20k.
That's my personal opinion only, trying to be realistic here though I really like bitcoin to pump, but knowing bitcoin's history, we should not be surprise of a big correction to come.

[KTChampions]

Im in agreeing with you that we wont see Bitcoin ever drop to below 20k again.  And i cant say I have always thought about the price like this.
Current price is around $33k there would need to be trillions pulled out of the total marketcap.  I cant see it happening really but we never know for sure.

Do you think so because 20k is the previous ATH and theoretically bitcoin should not fall below it? This makes a certain sense, but on the one hand, bitcoin is very predictable over a long distance, but on the other hand, over short distances it can present any surprise, so I will not be surprised even if it return to 10k.

[thecodebear]

I think that overnight drop to $27.6k is very possibly the lowest we'll see from this point onward. The quick bounce back up to $30k-$33k seems indicative of the market simply not accepting prices much below $30k anymore. Too much institutional buyers eating up coins left and right, so everyone knows it is only going higher and it's very risky to sell on a price dip. $20k is just way too far away. In past bull markets I would say such a drop is very possible, but the game has changed now.

I think by the end of January we'll even be able to make the claim that the price will never dip below $30k again.

[coinbiz]

What's strange about this bull run is when a pull back happens, the alts are not rising.  They're also dropping in unison.

In the past runs (I've been around), whenever bitcoin dropped, alts would rise, money stayed in the market.  It seems when bitcoin drops now, money is exiting the market to fiat.

The problem with institutional investment, ie GrayScale or MicroStrategy is that when the price dips below their average buy price, they may be forced to sell by their investors.  Institutional buying is great, but institutional selling at these levels could set off a bear market.

The recent spike to $34k and subsequent drop don't look healthy in terms of technicals.  I know technicals don't mean much with bitcoin, but I compare with bitcoin's own chart patterns historically.  This current drop coincides closely with money flowing to exchanges due to anticipation of upcoming regulations in the next few weeks. 

I predict we're due for another dip below $30k in the next few days, then the final rally of this bull run getting close to $40k (I'll know when this happens because it will coincide with Ethereum also setting an all-time high), followed by a major pull back, which will dip below $20k (within about a month or so). 

[thecodebear]

What's strange about this bull run is when a pull back happens, the alts are not rising.  They're also dropping in unison.

In the past runs (I've been around), whenever bitcoin dropped, alts would rise, money stayed in the market.  It seems when bitcoin drops now, money is exiting the market to fiat.

The problem with institutional investment, ie GrayScale or MicroStrategy is that when the price dips below their average buy price, they may be forced to sell by their investors.  Institutional buying is great, but institutional selling at these levels could set off a bear market.

The recent spike to $34k and subsequent drop don't look healthy in terms of technicals.  I know technicals don't mean much with bitcoin, but I compare with bitcoin's own chart patterns historically.  This current drop coincides closely with money flowing to exchanges due to anticipation of upcoming regulations in the next few weeks.  

I predict we're due for another dip below $30k in the next few days, then the final rally of this bull run getting close to $40k (I'll know when this happens because it will coincide with Ethereum also setting an all-time high), followed by a major pull back, which will dip below $20k (within about a month or so).  

Most of those institutional investors are buying long term. They're not making a quick trade play. Grayscale buys and holds, they literally don't sell anything. Microstrategy put all their cash reserves into Bitcoin, which is purely a long term play. They also raised a lot of debt to buy more, but at the prices they bought in they are in no danger of being in a losing position even if we do get a solid correction in the near future. There is no being forced to sell by investors for those kinds of institutional buys. This is much more a worry for the retail market, not the institutional market, which generally is buying to hold long term, and is not going to sell just because they might not be in profit 100% of the time soon after buying. If that were the case they'd be too scared to ever invest in anything.

Altcoins have actually surged when Bitcoin goes sideways, this just happened a day ago before there was that quick drop. But you have to realize that they are perhaps surging less than you expect because its the institutions that are driving BTC up. These institutions are only in BTC (and a little bit in ETH), they are not selling Bitcoin to ride some altcoin wave. The retail market will do this, but because institutions are the one driving the market cap up now, there's gonna be a lot less altcoin surges during the times Bitcoin stops surging because the money that is driving the market isn't going to flow to other areas of the crypto market - it's just gonna stay in Bitcoin. Altcoins are becoming more risk and less reward than they used to be as Bitcoin takes a more dominant position as it now is exiting the "crypto-only" market and is entering its phase as a globally accepted asset.

[coinbiz]

Altcoins have actually surged when Bitcoin goes sideways, this just happened a day ago before there was that quick drop. But you have to realize that they are perhaps surging less than you expect because its the institutions that are driving BTC up. These institutions are only in BTC (and a little bit in ETH), they are not selling Bitcoin to ride some altcoin wave. The retail market will do this, but because institutions are the one driving the market cap up now, there's gonna be a lot less altcoin surges during the times Bitcoin stops surging because the money that is driving the market isn't going to flow to other areas of the crypto market - it's just gonna stay in Bitcoin. Altcoins are becoming more risk and less reward than they used to be as Bitcoin takes a more dominant position as it now is exiting the "crypto-only" market and is entering its phase as a globally accepted asset.

Ah, this is a very good point/perspective I didn't previously consider.  Makes a lot of sense.

[Branko]

Not everyone is optimistic

https://twitter.com/cryptowhale/status/1347020103121072128?s=21

[sapnu]

We back 2017 most of us thinks that Bitcoin is unstoppable that it will not fall because it was well known and famous already in the whole world until it falls down as low as $5,000 in which most of us lost everything like a disaster in our fortune because we are all unprepared and just relying on hope. I will not say that do not trust Bitcoin but everything is possible that the bearish might happen again anytime because the truth is no one can predict the market movement.

That's possible but the market in 2017 and in 2020-2021 as of now really different you know, back then it was mostly made up by some individuals buying bitcoin but in massive scale but now most of large corporation and investment company which are the big boys when it comes to finance like this comes to play.
They not gonna let btc go down like a waterfall.

Bitcoin is really different from before, the thing that bitcoin reaches $20k that time is because of the whales, but as of now, we cannot say that it is because of the whales only, but because there are big companies that are adopting the use of bitcoin, Paypal and Visa are one of them, that online payment system has a big impact of today's price of bitcoin, making it famous all around the world. The downfall of the price is possible since we all know that cryptocurrency is volatile in terms of its value.

[ScamViruS]

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Bitcoin is really different from before, the thing that bitcoin reaches $20k that time is because of the whales, but as of now, we cannot say that it is because of the whales only, but because there are big companies that are adopting the use of bitcoin, Paypal and Visa are one of them, that online payment system has a big impact of today's price of bitcoin, making it famous all around the world. The downfall of the price is possible since we all know that cryptocurrency is volatile in terms of its value.

You are right. If the crypto market is not volatile then how is it crypto! But what you said is that now the big companies understand the importance of Bitcoin and they are adopting it. In the near future, bigger companies will come forward to adopt Bitcoin and that will be a huge thing.

So the situation is different now from the bull market of 2017. Demand for Bitcoin will increase in the coming days and its impact will be felt in the market.

[KTChampions]

Bitcoin is really different from before, the thing that bitcoin reaches $20k that time is because of the whales, but as of now, we cannot say that it is because of the whales only, but because there are big companies that are adopting the use of bitcoin, Paypal and Visa are one of them, that online payment system has a big impact of today's price of bitcoin, making it famous all around the world. The downfall of the price is possible since we all know that cryptocurrency is volatile in terms of its value.

Unfortunately, if the influence of large companies exists, it is only in terms of speculation. In the past year, I have not heard any fundamental news about the use of bitcoin. If the ongoing growth was accompanied by the development of bitcoin as a payment system, it would be great.