When The Inevitable Happens With The Dump - What Will Bitcoin Be Worth?

[TimeTeller]

At around 50k - 55k this is very critical level that we can finally see a huge sell off it can be very fatal that it can bring the price 20k level or even 16k and again big pump incoming after this one so like what happened last 2017 big dump and huge huge pump. 

I don't think we will be seeing that level very soon.
But btc market is surprising us everyday, so can't really say that it will not happen.
I am sure when that level is achieved, a lot of us here will start thinking selling some from our portfolio.
Because at anytime, crash will happen and we don't know when that will be.

[thecodebear]

You're just asking about the next/first correction in this bull market? Maybe $30k if it corrects before we get over $50k. If it doesn't correct until a bit higher it might only drop to $40k.

The low for the year will likely be the $27600 that was hit a few days ago on that one dip from $34k. Very much doubt we'll see anything that low again, ever.

If you're asking about a big correction post-bull market, or at least when the market takes a bit of a break from exponential growth, it'll probably drop to like high five digits at lowest.

[JollyGood]

I cannot see this bullrun going on longer than a few more day maximum, in my opinion it will not be going on for a month or two. When the price falls after the dump there will be plenty of people around the world that will financial face ruin. I feel sorry for those that purchased at $35-$40,000.

Depends on what will be top for this bubble, others are seeing a 6 digit rise, as high as $300k so unlikely to settle $12,000-$13,000.

And we have to know as well what will be the reason behind the sell-off to really crash the market to more than 50%. We are still in the bull market, so just a slight correction, there are many takers just waiting around the corner.

A 3 digit is impossible there are still a lot of hurdles to be passed through before we even reach $99,999, not to mention that the current available supply is steadily running low. Hopefully the bull run is still going strong for at least a month or two, sell offs will soon be prevalent.

[thecodebear]

I cannot see this bullrun going on longer than a few more day maximum, in my opinion it will not be going on for a month or two. When the price falls after the dump there will be plenty of people around the world that will financial face ruin. I feel sorry for those that purchased at $35-$40,000.

Depends on what will be top for this bubble, others are seeing a 6 digit rise, as high as $300k so unlikely to settle $12,000-$13,000.

And we have to know as well what will be the reason behind the sell-off to really crash the market to more than 50%. We are still in the bull market, so just a slight correction, there are many takers just waiting around the corner.

A 3 digit is impossible there are still a lot of hurdles to be passed through before we even reach $99,999, not to mention that the current available supply is steadily running low. Hopefully the bull run is still going strong for at least a month or two, sell offs will soon be prevalent.

Oh wow you actually think the entire bull market is going to end this month?? haha. that's quite the claim! This thing has barely even started and you're saying it's over! Reminds me of in 2017 when Bitcoin was at $2800 in early June of that year I read some analyst claim that was the top and it would go back to $1000 for the next 6 months and then start rising up a little bit at the start of 2018 haha.

It's not very wise to predict the end of a bull market when it's only 2x'd from the old peak, and when institutions just began eating the supply! Even if a short term correction happens, nobody faces financial ruin, ya just wait a few months at most (probably a few weeks) and the price will be pushing new ATHs again.

[exstasie]

I cannot see this bullrun going on longer than a few more day maximum, in my opinion it will not be going on for a month or two. When the price falls after the dump there will be plenty of people around the world that will financial face ruin. I feel sorry for those that purchased at $35-$40,000.

Oh wow you actually think the entire bull market is going to end this month?? haha. that's quite the claim! This thing has barely even started and you're saying it's over!

I've noticed a lot of people who arrived in 2016-2017 are very bearish. They're in disbelief. That sentiment, along with IRL people telling me the BTC price is too high and that I should sell, is one of the reasons I can tell the market is going much higher. Retail is barely on board yet.

I can sympathize with those bears too. Been there. I was traumatized by the 2014-2015 bear market. I was in total disbelief in early 2017. Not dumb enough to short, but dumb enough to sell lots of coins, not realizing we were on the cusp of parabolic gains. Not making that mistake again.

JollyGood is worried about losing USD. He should be more worried about losing coins.

[JollyGood]

It will be interesting to see where this goes because it might be a mark for future bull runs followed by the aftermath. Yes you are right it all depends on where the peak is but Bitcoin losing around 30% value (as you suggested) will not be a total disaster for many investors, many will hang on and wait until the next bull run.

I personally do not see Bitcoin losing more than 30% of its value at this point. If it does dip now we could fall with the $25k-$28k range and if the bull run continues the support range would also rise. It all depends on where the peak is.

A 3 digit is impossible there are still a lot of hurdles to be passed through before we even reach $99,999, not to mention that the current available supply is steadily running low.

Don't you think a thinning supply would have a positive effect on the price? The less Bitcoins there are available for sale, the more demand grows against supply and the more valuable it gets.

[JimboToronto]

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

Why would you expect a crash soon? This rally is still young. We might see corrections along the way, perhaps as large as 30-40%  but don't expect to see $20k again, let alone $12k-$13k.

When this bull run has finished (maybe $200k-$400k), we could see a much larger dip, maybe as high as 80%.

Don't count on it being that severe though. Previous bubbles were based on retail FOMO followed by weak-hand panic. This run is founded on well-researched institutional investment. Institutional investors don't have weak hands. Don't expect them to panic.

Yes, when the retail bubble bursts, weak retail hands will panic and the price will plummet, but not as far as in the past because retail will represent a smaller percentage of the total coinholders. Institutional investors will continue to hold.

It might not even make it back down to 5 figures at that point.
_____

Coinmarketcap? I thought only noobs and altcoiners used CMC as a Bitcoin price reference.

[JollyGood]

Why would you expect a crash soon? This rally is still young. We might see corrections along the way, perhaps as large as 30-40%  but don't expect to see $20k again, let alone $12k-$13k.

When this bull run has finished (maybe $200k-$400k), we could see a much larger dip, maybe as high as 80%.

Don't count on it being that severe though. Previous bubbles were based on retail FOMO followed by weak-hand panic. This run is founded on well-researched institutional investment. Institutional investors don't have weak hands. Don't expect them to panic.

Yes, when the retail bubble bursts, weak retail hands will panic and the price will plummet, but not as far as in the past because retail will represent a smaller percentage of the total coinholders. Institutional investors will continue to hold.

It might not even make it back down to 5 figures at that point.

It is all speculation, nobody knows what will happen and things are not clear.

As with previous bull runs the price does come down, sometimes way less than hoped for or anticipated. I am enjoying the c.$40,000 price but am trigger happy and will be happy to sell some as soon as I get a feeling the end of the bull run is in sight.

Coinmarketcap? I thought only noobs and altcoiners used CMC as a Bitcoin price reference.

Where do you get your crypto price references from?

[justdimin]

I don't get why everyone is expecting a big drop in bitcoin price, why is there this belief? I get that it has always gone up and crashed so everyone assumes that it will crash again, but does it have to be a crash? Like maybe from now on we are going to be around here? Maybe from now on the price will be 35k to 40k for the next 8 months? Who knows? Sure it could reach to 32k for a day or two and increase again, go to 42k and make us hopeful and drop to 38k again, but all around just hang around here. Is that so impossible?

I am not saying that will be what happens, I am not saying it will not crash, all I am asking is why do people think that it has to crash and there is no other option? I feel like there are tons of other options, maybe we can go to 100k and "drop" to 50k? Who knows. I just think that as long as we keep promoting and supporting bitcoin, everything will be fine.

[inanilujimi]

If a major crash were to happen I don't think it would be less than $ 20k, we already know the hardest ATH to hit for nearly 3 years is $ 20k. just could create a new ATH that gets big investors starting to enter at the price of $ 20k, there is no way they continue to sell below the price of 20k because most investors believe that bitcoin will reach beyond expectations.

[JimboToronto]

Where do you get your crypto price references from?

For BTC/USD I use Bitstamp.

Bitstamp is preferred by many OG Bitcoiners because of its long standing as a reputable exchange that doesn't allow leverage or margin trading, just honest buys and sells. It's not surprising that it's what my neighborhood OTC exchange uses.

For BTC/CAD, BTC/EUR, BTC/GBP, etc I use Bitcoinaverage. I also use it as a multi-exchange price index for BTC/USD.

Bitcoinaverage bases its prices on the most exchanges worldwide based on volume, omitting exchanges with zero trading fees. It's used by almost all local ATMs.

I don't do altcoins

[JollyGood]

Thank you for the clarification. I just checked:

Bitstamp showed $40,034
CMC showed $40,007

CMC was taken over by Binance so I see no problem with using them as a measure but I understand why you would want to use Bitstamp. Wish you success in the latest bull run 

Where do you get your crypto price references from?

For BTC/USD I use Bitstamp.

Bitstamp is preferred by many OG Bitcoiners because of its long standing as a reputable exchange that doesn't allow leverage or margin trading, just honest buys and sells. It's not surprising that it's what my neighborhood OTC exchange uses.

For BTC/CAD, BTC/EUR, BTC/GBP, etc I use Bitcoinaverage. I also use it as a multi-exchange price index for BTC/USD.

Bitcoinaverage bases its prices on the most exchanges worldwide based on volume, omitting exchanges with zero trading fees. It's used by almost all local ATMs.

I don't do altcoins

[Karartma1]

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

_____
Coinmarketcap? I thought only noobs and altcoiners used CMC as a Bitcoin price reference.

The great old Jimbo, always making me laugh! May I suggest you've been too nice here? You could have named the altcoiners shitcoiners for what's worth. And you forgot to mention that CMC gets used by defi yield farmers and ICO nostalgic too!

[error08]

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

I believe the ath was $42k based on bitstamp, even if you check it now the day's range 38556.27 — 41450.00.


it won't crash anytime soon but some corrections may occur like 30% and max 40%, which mean around $24k - $28k.
The real crash will take place after bitcoin reach the peak probably by Q4 2021 if history repeats itself. Then bitcoin price will gradually lose its value to 80%-90% in 2022.

[JollyGood]

Yes there is a difference in Bitstamp and CMC prices, thank you for the information.

If you are right and Bitcoin loses over 80% of its value in 2021 then it will be all red on the crypto price websites. In that scenario many smaller coins and token will probably not even survive and others will see a huge fall in price.

Many investors will cut their losses reluctantly when a correction happens and many will simply face financial ruin when the crash happens when panic selling across the world sets in because they bought in to crypto at high prices.

I believe the ath was $42k based on bitstamp, even if you check it now the day's range 38556.27 — 41450.00.


it won't crash anytime soon but some corrections may occur like 30% and max 40%, which mean around $24k - $28k.
The real crash will take place after bitcoin reach the peak probably by Q4 2021 if history repeats itself. Then bitcoin price will gradually lose its value to 80%-90% in 2022.

[KTChampions]

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

Do you think bitcoin will drop 50 percent from the previous ATH? This will be a big disappointment and surprise for those who think that bitcoin cannot fall below this. On the other hand, this is what usually happens with bitcoin - something that no one expects happens 

[STT]

Its a fair point, the 2018 low was an ironic positive because it was far beyond the previous high and not really as negative as it could have been.     My personal take is still to go on something like the 2019 highs rather then 2017 because I think we had more volume and involvement in 2019 and so its more significant but thats an especially negative take I'm putting forward compared to most.   I dont mind sticking with that also because of the 200 day average being near to that also, I do think long term prices are much different to the froth.

Most are saying 20k or more, I guess half is a fair guess.   Its impossible for people to know because it also depends on dollar, in 2018 the dollar index rose almost the whole year and it was a flip to the '17 trend hence upset.  If 2021 is very similar to 2020 in that its a decline in dollar index or various FIAT strength then you wont have this upset and sell off in the same way.

[JollyGood]

Anything is possible but a lesson from the past is when Bitcoin hit $1000+ in 2013 it fell down to around just above $200 in 2015. Nothing about the price of Bitcoin will surprise me now. I am just looking around at what is going on with the current buying and selling then will wait for the stable price.

I think it is going to happen very soon, the dump will be happening but what will happen when everything on CMC shows red? How far will Bitcoin fall?

After the crash I think it might settle around the $12,000-$13,000 mark before finding a way to work upwards again over a period of time.

The all time high was set just hours ago of $40,180.37 according to CMC

Do you think bitcoin will drop 50 percent from the previous ATH? This will be a big disappointment and surprise for those who think that bitcoin cannot fall below this. On the other hand, this is what usually happens with bitcoin - something that no one expects happens 

[KTChampions]

Anything is possible but a lesson from the past is when Bitcoin hit $1000+ in 2013 it fell down to around just above $200 in 2015. Nothing about the price of Bitcoin will surprise me now. I am just looking around at what is going on with the current buying and selling then will wait for the stable price.

Do you think bitcoin will drop 50 percent from the previous ATH? This will be a big disappointment and surprise for those who think that bitcoin cannot fall below this. On the other hand, this is what usually happens with bitcoin - something that no one expects happens 

Those years were too far away and passed on scanty liquidity to seriously discuss them. I think the rule "after updating the ATH, do not fall below the previous ATH" should work, otherwise the majority of long-term investors will simply be disappointed in the cycles and lose the motive to invest between halvings.

[SlimShadyMmp]

I really doubt anybody knows that but I think what I can assure you is there will be some individual willing to accumulate your dumps because thats crypto cirle