BTC back to $20000 possible in 2021?

[nzkn]

Nowadays, no one believes BTC will dramatically drop to below $20K in 2021. Everybody is crazy in bull market , but risks are building up.

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[jackg]

The major resistance zones I see are:
28000-30000
26000-28000 (overlaps with above so the area above 28000 probably won't be well protected of we start to decline by a few 000).
21200-24300

And then 18-20..id say a drop below 18k by now is especially unlikely unless something major happens but a drop to 20-24k may still be quite likely.
Though we could end up just going straight up...

[JimboToronto]

$20k from $33k would be a 40% drop... extremely unlikely this early in the bull run.

I seriously doubt we'll ever see $20k again.

[OgNasty]

I seriously doubt we'll ever see $20k again.

Those are some serious last words right there.  Granted you could be correct, but it's good to keep in mind that anything could happen.  I personally think we see a 6 digit Bitcoin price before this year is over, as do most others now, but it's important to remember that one significant development could result in Bitcoin going to 0 tomorrow.  Being confident is good, but I wouldn't mortgage the house to go loading up on Bitcoin at multiyear highs.  The time to get bullish was at $4K, not at all time highs.

[wheelz1200]

Nowadays, no one believes BTC will dramatically drop to below $20K in 2021. Everybody is crazy in bull market , but risks are building up.

When it hit $20k in 2017 no one thought it would retrace back in the $3k's and it did.  If bitcoins price history has taught anything is that ANYTHING is possible, so going back to 20k would not be crazy at all at this point.  Never say never (although I'm very bullish at this point with everyone else)

[coolcoinz]

$20k from $33k would be a 40% drop... extremely unlikely this early in the bull run.

I seriously doubt we'll ever see $20k again.

True, but we're talking about this year. It will depend on the length of this bull run. If it goes straight up, pretty much like it did today, it could end in just a few days around 50k and crash straight down with a normal dead cat bounce. If we were to fall now it wouldn't be fast and hard, but if we were to reach 50k next week it could correct to around 24k, bounce back to 40-45 and crash all the way to 22k because exact 20k wasn't a strong resistance on the way up so I wouldn't expect it to be a strong support. It's more likely to stop at 22k or fall all the way down to 19k.

[nzkn]

Nowadays, no one believes BTC will dramatically drop to below $20K in 2021. Everybody is crazy in bull market , but risks are building up.

When it hit $20k in 2017 no one thought it would retrace back in the $3k's and it did.  If bitcoins price history has taught anything is that ANYTHING is possible, so going back to 20k would not be crazy at all at this point.  Never say never (although I'm very bullish at this point with everyone else)

Everything could be possible. There is still a chance that crypto value down to zero if you take Buffet's view on crypto into account.

[Wysi]

There are possibilities of Bitcoin dropping down to $20k or else pumping up to over $50k and it would be difficult to predict which way the boat will sail, if it's the positive wave then we might see massive pump as users will be investing more into Bitcoin for better returns and if it's negative wave then we might see panic selling but not similar to 2018 as users have learnt a lesson about panic selling. This time we will see more users HODling regardless Bitcoin drops down to $20k or $2k.

[exstasie]

I seriously doubt we'll ever see $20k again.

Those are some serious last words right there.

Yup. I gave up trying to call tops a long time ago, but I also avoid making sweeping statements like that.

Historically the maximum downside at this point in a BTC bull market is ~42%. That means the low $19,000s are still on the table. Would be rather fitting to test the previous ATH as support. Doesn't mean we have to, but the more people who think it's impossible, the more likely it is in my book. Especially considering how far and fast the rally took off. "Too far too fast" is often a recipe for punishing late bulls and leveraged longs. In 2017, BTC loved liquidating longs before thrusting to new highs.

[Wulan_maniez]

If you look at the current price of bitcoin $32,760, it is especially unlikely that it suddenly drops very  much  to $20k.  If that happens,
there will be many people panic sell, maybe. I think it's going to go down slowly if a correction  happens.  Maybe first he'll touch $30K.
If it gets down to $20k, I'll buy bitcoin at that price, maybe people will do the same

[JimboToronto]

I see $20k as being the same as what $800 was in late winter and spring of 2017, or what $40 was in the summer of 2013, a mythical buy-back point for bears who sold too low.

All the wishful thinking in the world is unlikely to make it come true.

Dips of that magnitude happen after bubbles break, not when they're just starting to really take off. Once we got a third of the way to the first $100k of this rally, I think we passed the point of no return.

[thecodebear]

I seriously doubt we'll ever see $20k again.

Those are some serious last words right there.

Yup. I gave up trying to call tops a long time ago, but I also avoid making sweeping statements like that.

Historically the maximum downside at this point in a BTC bull market is ~42%. That means the low $19,000s are still on the table. Would be rather fitting to test the previous ATH as support. Doesn't mean we have to, but the more people who think it's impossible, the more likely it is in my book. Especially considering how far and fast the rally took off. "Too far too fast" is often a recipe for punishing late bulls and leveraged longs. In 2017, BTC loved liquidating longs before thrusting to new highs.

Agree, in normal times at least, I would expect to see $19k/$20k tested again. But in normal times I also expected to see $11k tested once as support but instead the price just kept going up. These are not normal times. This is the start of the institutional wave, and it has been locking away hundreds of millions of dollars for the long term every single week. I certainly think a drop back to mid-to-high $20,000's could happen if it happens soon, and it probably wouldn't last long, but $20k just seems too far for even a quick spike at this point. I don't expect sub-$20k to ever be seen again. More likely by February the price is $40,000s than $20,000s.

[tabas]

Nowadays, no one believes BTC will dramatically drop to below $20K in 2021. Everybody is crazy in bull market , but risks are building up.

I believe that it will eventually create a stability on $25k-$30k and there's still a possible drop as usual. We knew how bitcoin is for being volatile. But if that happens and would drop below $20k, it wouldn't go as low as $10k again.

If you look at the current price of bitcoin $32,760, it is especially unlikely that it suddenly drops very  much  to $20k.  If that happens,
there will be many people panic sell, maybe. I think it's going to go down slowly if a correction  happens.  Maybe first he'll touch $30K.
If it gets down to $20k, I'll buy bitcoin at that price, maybe people will do the same

It might happen but the recovery will commence quickly.

[Hamphser]

Nowadays, no one believes BTC will dramatically drop to below $20K in 2021. Everybody is crazy in bull market , but risks are building up.

Risks is indeed building up and I don't really have that kind of behavior or insights that price wont able to go down into these particular levels.

If you have been here on this market then you cant really be that too confident on what your eyes seeing because price can crash in a short span of time.
20k isn't really to far off for us to drop on that level.This is why when you do have the opportunity to sell for profits then better do it on active manner
then buy when its cheap and rinse and repeat.

One thing or goal here is to make profits no matter what kind of trend we do have.

[Hippocrypto]

No need to think of $20k anymore. Bitcoin is not same as the yearn finance to grow to the peak and fall back. The base itself varies, and now with the ongoing growth we can see Bitcoin to have a standard value. This time we can say it'll be above the $20000 margin. Market is unpredictable, but the scenario looks like a bull trend forever in 2021.

Maybe we'll see fluctuations eradicate more times, because more sellers will take advantage with the higher value. Greed contributes with the market saturation, so another opportunity will come for other traders and investors. There could be a possibility that btc will touch nearly $20k but eventually climbs back again to $30k.

[error08]

Players involved in this bull run are different than before, institutional investors have a different idea than retail investors and traders, whoever has sold bitcoin below $30k might regret selling at a lower price moreover if the price won't dip below it and bitcoin continue to rise to $40k. We have speculated that at some level bitcoin will undergo a correction, in turned out the contrary, and now we assume bitcoin will continue to grow and will not experience a large decline anytime soon. Even a 20% drop would cause the bitcoin price to drop to around $25k, then what will cause bitcoin to drop by as much as 40%? that is when institutional investors started selling their bitcoins for profit.

[wheelz1200]

If you look at the current price of bitcoin $32,760, it is especially unlikely that it suddenly drops very  much  to $20k.  If that happens,
there will be many people panic sell, maybe. I think it's going to go down slowly if a correction  happens.  Maybe first he'll touch $30K.
If it gets down to $20k, I'll buy bitcoin at that price, maybe people will do the same

I dont think the question was will it go to 20k in one trade, of course if it goes to 20k it will hit 30k first it has to.  And yes if it goes down sharply I think there will be a lot of savy buyers that will be cost averaging up or down their portfolio gladly at 20k

[Kemarit]

$20k from $33k would be a 40% drop... extremely unlikely this early in the bull run.

I seriously doubt we'll ever see $20k again.

True, but we're talking about this year. It will depend on the length of this bull run. If it goes straight up, pretty much like it did today, it could end in just a few days around 50k and crash straight down with a normal dead cat bounce. If we were to fall now it wouldn't be fast and hard, but if we were to reach 50k next week it could correct to around 24k, bounce back to 40-45 and crash all the way to 22k because exact 20k wasn't a strong resistance on the way up so I wouldn't expect it to be a strong support. It's more likely to stop at 22k or fall all the way down to 19k.

We are in a new territory now, so obviously we haven't seen this kind of price before so we really don't know if there will be resistance or where will this bull run will end. So it's hard to tell, as this is just the start of everything and this could go into full 12-24 months wherein we are going to see crazy runs. But shallow corrections, because the whole narrative of bitcoin has also made a dramatic U-turn in the last couple of months. So I will say that unlikely that we will see $20,000.

[Gozie51]

No need to think of $20k anymore. Bitcoin is not same as the yearn finance to grow to the peak and fall back. The base itself varies, and now with the ongoing growth we can see Bitcoin to have a standard value. This time we can say it'll be above the $20000 margin. Market is unpredictable, but the scenario looks like a bull trend forever in 2021.

We may not be sure that the price of bitcoin can not drop to 20,000 or below anymore. Bitcoin is a highly fluctuating cryptocurrency and moving upwards and downwards. Therefore, the possibilities are there for such happening.
It has happened in the past , from 2017 that price came to 20,000 but it dropped in 2018 and 2019 back to around 5,000 and beloe in 2018. So, if that has happened, it can repeat itself again as a correction from the bull run.  If in example the whales decide to cash out heavily, then expect that price can drop for them to back back.

[michellee]

Nowadays, no one believes BTC will dramatically drop to below $20K in 2021. Everybody is crazy in bull market , but risks are building up.

It is still possible to see bitcoin drop below $20k this year, but I do not want to expect that price after bitcoin price rise so far. But we still need to be careful because if the price drops to that price, we can buy more bitcoin at a low price and we need to use that chance to buy bitcoin. But I guess the price will continue to rise as the green candle and the bullish trend are still on the market. But I think that the flash dump can happen in the short term or long term because that moment can happen anytime.