I doubt Bitcoin will dip below 20k again

[Timelord2067]

I'm gonna say LOL to the person saying it'll drop to $20k just because it hit $30k lol.

You've got to admit it's been quite a meteoric rise in price since November 2019 when the price had come off of the boil in about April/May of the same year. The price charts for the last three years makes this Moon Shot look like a cliff. You may find during the next few months the ask price is unsustainable when people want to buy BTC to make transactions with it slowly pushing the price back down as new coins are minted (don't forget those miners have overheads to cover).

[Timelord2067]

We also don't know how long the bitcoin price stops rising, but maybe in the near future there will be a big correction that will make bitcoin prices low. but at the beginning of this year it seems the trend is still up

Some other threads are calling a correction at the end of March which would make sense given those who have come in during the end of year run will probably be reaching for the smelling salts in about a month's time when they beging to wonder why BTC hasn't gone up to $60k or higher.

In six weeks time I envisage early dumps will start, then by mid March people will see the slump for what it is and drive the price down as they recoup their losses.

(And yes, down sub $20k)

[suzanne5223]

I hope bitcoin doesn't drop any deeper than $ 30k and if that happens then it is possible that a deeper dump,
and past $ 20k could happen, yup this is a bad scenario, I hope bitcoin can survive

Bitcoin not dump below the $30K was what every crypto enthusiast hope for but we need to be realistic about the market cause the January market pump came in by surprise so the market will definitely experience dump in price when we dont expect and I dont expect the dump to reach $20K price because it will market blood bath season before we can see that happen.

[Timelord2067]

Well .. it did drop to $29,500 a few hours ago so sub $30,000 is definitely possible and people shouldn't discount drops even further such as sub $20,000 that this threads title suggests.

People will see an opportunity elsewhere and bail out. It happens, just be prepared for the drop.

[Branko]

Well .. it did drop to $29,500 a few hours ago so sub $30,000 is definitely possible and people shouldn't discount drops even further such as sub $20,000 that this threads title suggests.

People will see an opportunity elsewhere and bail out. It happens, just be prepared for the drop.

It will be OK, another 2 billion Tether printed to sustain this bull run

[South Park]

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.

While there has not been any fundamental change in the way bitcoin functions and as such we should not see any change in its price because of it, there has in fact been a fundamental change in the way people feel about the economy, because of this pandemic people have realized that governments can do whatever they want with the economy and they are getting worried that they have a lot of power and that they are abusing it, and as such they are looking for ways to protect themselves from this and many have found in bitcoin a solution to their problems.

[7788bitcoin]

It will be OK, another 2 billion Tether printed to sustain this bull run

They keep on printing Tether and i always wonder when this will end. In the last rally even though i had my worries i was holding the profit in Tether as it was the only coin with volatility but now there are many options to hold the coins and most probably i will be holding in fiat until i decide to invest again as you never know when the SEC will produce a lawsuit against them.

This is the wild west of bitcoin market and if they price could rally from $20k to $40k in a matter of few days then it is possible that the market could dip below $20k.

[MishaSER]

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

The crash of 2017 was because of the absence of institutions that cannot support the crash, few whales and many small investors, things are very much different now, there are many whales and institutions are coming in, and the number of small investors have also grown.

Do you think if there is strong support then Bitcoin will not fall in value? You know, the higher the price, the stronger the pain from the rate drop. There is a struggle of private investors against institutions.

[Shasha80]

If we look at the Bitcoin movement yesterday which experienced a quite deep price decline, only briefly touching the price of $ 29k. After that
it went back up to its current $ 33k price. This proves the strength of the Bitcoin support price at the price of $ 29k. So I doubt that Bitcoin will
fall below $ 20k again. Moreover, as said by the opening post, now many institutions decide to invest large amounts in Bitcoin. This makes Bitcoin
price difficult to fall, and will keep Bitcoin going up. But for Bitcoin to go higher, correction is needed. So the correction that is happening now must
occur. In order for the Bitcoin price to break the $ 41k resistance price.

[Inspiron14]

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

The crash of 2017 was because of the absence of institutions that cannot support the crash, few whales and many small investors, things are very much different now, there are many whales and institutions are coming in, and the number of small investors have also grown.

Do you think if there is strong support then Bitcoin will not fall in value? You know, the higher the price, the stronger the pain from the rate drop. There is a struggle of private investors against institutions.

If the institution you are talking about doesn't sell the Bitcoin they hold, I think the price will hold above $ 30k,
even though, today bitcoin has corrected below $ 30k but the price bounces back, of course this indicates that the support is still very strong,
so we hope that the institution will always buy Bitcoin with reason that they will sell it for $ 100k- $ 300k.

[KTChampions]

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.

While there has not been any fundamental change in the way bitcoin functions and as such we should not see any change in its price because of it, there has in fact been a fundamental change in the way people feel about the economy, because of this pandemic people have realized that governments can do whatever they want with the economy and they are getting worried that they have a lot of power and that they are abusing it, and as such they are looking for ways to protect themselves from this and many have found in bitcoin a solution to their problems.

On the one hand, you are right and it is stupid to deny the influence of the monetary policy of governments on the price of all assets, but on the other hand, there are negative aspects in such an explanation: if this whole situation had not happened, it turns out that people would still not be interested in bitcoin?

[South Park]

While there has not been any fundamental change in the way bitcoin functions and as such we should not see any change in its price because of it, there has in fact been a fundamental change in the way people feel about the economy, because of this pandemic people have realized that governments can do whatever they want with the economy and they are getting worried that they have a lot of power and that they are abusing it, and as such they are looking for ways to protect themselves from this and many have found in bitcoin a solution to their problems.

On the one hand, you are right and it is stupid to deny the influence of the monetary policy of governments on the price of all assets, but on the other hand, there are negative aspects in such an explanation: if this whole situation had not happened, it turns out that people would still not be interested in bitcoin?

That is without a doubt a very strong possibility, but think about this way, the world was not prepared for a pandemic either and only once the pandemic appeared people began to mobilize themselves in order to try to curb its effects, it turns out that most people are reactive and not proactive by nature which means they will only deal with the situation once they have no other option but to face it, a great deal of those that invested in bitcoin before it did it for the same reason, they believe in bitcoin and its limited nature to be better than fiat currencies, they just took the step of investing in it sooner because they could see that the moment a black swan hit us the economy will suffer, and they were right, so I will not think too much about it as it is simply human nature.

[Timelord2067]

As I forcast at the start of the year: The pump will have stopped, people will start selling because they need cash after Christmas splurges. By March the price will have come off of the boil and institutional buyers hoping for strong gains will be facing concerning losses and so (one by one) will cash out forcing the price down.

It happens every year, maybe not as harshly as this year coming off of an ATH.

[carlfebz2]

If the price hadnt able to stop on such decline or price decrease movement then that would probably hitting up those low levels but to think that it wont really be that easy because
there are lots of strong supports that do wait up for people to accumulate cheaper prices so i would say that this wont really be that on fast pace dump.

Try to look at on the price, we had able to go back in 28k price but it didnt really last that long and the price had recovered on that point and now we are 31k price again.

When it comes to talk like price dips then this one will really be an eternal question on this very unpredictable market.Market can crash or go into prices that we do least expect.

Bitcoin hadnt failed to impress us when it comes to new ATH's and also with the opposite side of events too like dumps and decreasing market.

[Maslate]

OP, the price you are looking for might come soon, bitcoin is now diving below $30k, and what's next for that? probably $20k below.
Just be patient, it's not that bitcoin will crash but it will only dip due to a massive correction and when that happens, hopefully our mind will not change, we should still go with our plan to buy it and not panic on what could possibly happen.

just be open of every scenario as despite of the development and the hype, the market is still unpredictable and it could dump big time anytime.

[Zemomtum]

There is nothing that can not happen in the crypto space. That is how many confidently say BTC cannot go beyond 10K in 2017/2018 and here come to almost 3k. Crypto is volatile and something we need to expect the unexpectable.

[exstasie]

As I forcast at the start of the year: The pump will have stopped, people will start selling because they need cash after Christmas splurges. By March the price will have come off of the boil and institutional buyers hoping for strong gains will be facing concerning losses and so (one by one) will cash out forcing the price down.

It happens every year, maybe not as harshly as this year coming off of an ATH.

No it doesn't. Take a look at 2013. From January 1st, BTC rose every week for 3 months straight, until we finally had a massive shakeout in April. Then we had another parabolic leg higher a few months later.

In 2017, despite two harsh corrections in January and March, BTC was essentially sideways (opening and closing ~$1,000) for Q1. You know what happened next.

So the holiday and tax effects may do something, but the underlying market sentiment (i.e. whether it's a bull market or bear market) are much more important.

By all appearances this correction off $42K is just a typical bull market correction Like March or June-July 2017.

[EvAng3l1on]

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.

True, this can be difficult to predict, as market conditions change from time to time. Sometimes we will be surprised that it has achieved the new ATH

[coin-investor]

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

Nothing is impossible we must never rule out anything, what happened last year about the pandemic is beyond our control and it could possible again, I don't rule pout the possibility, but if there's no pandemic like situation I think we are ok, I also doubt that Bitcoin will go down $20 k level I hope many institutions continue to join the market so we can see more buy then sell.

[wiss19]

I hope bitcoin doesn't drop any deeper than $ 30k and if that happens then it is possible that a deeper dump,
and past $ 20k could happen, yup this is a bad scenario, I hope bitcoin can survive

Bitcoin not dump below the $30K was what every crypto enthusiast hope for but we need to be realistic about the market cause the January market pump came in by surprise so the market will definitely experience dump in price when we dont expect and I dont expect the dump to reach $20K price because it will market blood bath season before we can see that happen.

Well, we technically did dropped under 30k, it wasn't really that bad and it was instantly went over 31k once again, which shows you that we are doing fine, not horrible and not good neither but doing fine. That type of recovery is what we need, that way we could potentially do a lot better in the future knowing that when the price goes down to a level, we buy and go up. Obviously that level was 32k dollars and we have gone under that and eventually went even under 30k as well but recovered from there.

This tells people that the "bottom" of this run could be getting lower and lower which is a scary thought. At the end of the day if we are talking about recovery and going back over 40k, I am sure that is going to happen eventually, but how low will we get before we reach to 40k? I do not know. We could reach to 40k+ now with a good bull run, or maybe go to 20k and reach to 40k a year later, anything is possible.