Can BTC go down to <$5k again now?

[Oasisman]

Always possible even below the $5,000 level. But from what we have all noticed, Bitcoin has been consistently increasing every year, and I guess we're at the level of which it's kinda hard to believe that Bitcoin would go back to that $5,000 level at this current run. But then again, I'm not taking away the possibility for it to happen. Nevertheless, If that happens then It would be another great opportunity to accumulate more.

[zeingrind777]

Everything in the crypto space is possible, Bitcoin could fall to $ 5k. But take it easy, Because it seems, the chances of bottoming out are still very far away. So to get to the price of $ 5K is still very long or maybe never at all. We can research and analyze the causes of falling prices. The decline in bitcoin prices is still quite reasonable. I think this is just a normal market correction and the price will bounce back up again.

[newwest]

Always possible even below the $5,000 level. But from what we have all noticed, Bitcoin has been consistently increasing every year, and I guess we're at the level of which it's kinda hard to believe that Bitcoin would go back to that $5,000 level at this current run. But then again, I'm not taking away the possibility for it to happen. Nevertheless, If that happens then It would be another great opportunity to accumulate more.

Compared to other coins, this bitcoin can be said to always experience positive progress every year,
Moreover, this is still the beginning of the year and I hope that this kind of trend can continue for a long time

Bicton due to its volatility price may fall or rise suddenly. Any negative news and panic selling pressure could add the markets to tumble every easily and thus not sure to what level it might fall but yes can fall below 20k too. So be prepared for the worst and plan for the best. Always have some amount ready so that in worst scenario of fall ready to buy on dips and profit it out again when it rises.

[masterzino]

I can easily imagine BTC down under $30k or even $25k. But currently it's unimaginable for me Bitcoin to crash under $5K. Too many big players around.

[slapper]

I think it is pure Supply and Demand theory. More people are in need of bitcoin. Therefore, it stops the price of bitcoin to go slower. Most bitcoin enthusiasts and institutional investors definitely buy bitcoin whenever the price below $15000. They put their fate at this point where they believe that can maximize their profit as well as the lowest price of bitcoin. There is still a small chance that bitcoin will crash below $5000 but the percentage is very low which is not a big concern to us.

That is my point. The number of bitcoin users increases day by day. Bitcoin is likely to become a big competitor to gold since it is believed to become the most valuable asset on this planet

[aioc]

I always thought that things and the situation is very much different from what we have back them, the number and the mindset are very much different, back three years we have grown in leaps and bounds, we have stabilized for Bitcoin to drop at $5000 level again if it does I might take a loan or mortgage my house to buy more Bitcoin.

[Wulan_maniez]

March 20 was the last time it was at around that level and it hasn't gone to that since.

I don't know exactly if bitcoin will return to the $5k level from now on. But before that price, bitcoin will pass through the prices of $30k,
$25k, and it's a long and long journey. Anything's  possible. But if  that happens,  all investors, whales  and institutions  will  have to sell
their bitcoins to bring the price back to $5k.

[exstasie]

$5k though? Man would love to load up.

Buying at $5K sounds nice while the market is trading at $33K, but if it really went there, it means something is very, very wrong. I doubt I'd be loading up. Going down with the ship maybe, but not loading up.

That would be the steepest decline since the 2011 bubble pop, which occurred after much, much larger gains than the current run. Losses like that should not occur unless there are serious existential threats to Bitcoin that shake investor confidence significantly more than it was shaken in 2018 or 2014. Anything is possible, but Wall Street's entry into the market indicates the exact opposite. Bitcoin is becoming less risky, less speculative, and increasingly less likely to simply crash to $0.

That's what the market is saying. So in all likelihood, any crash would be absorbed long before $5K. As I've said elsewhere, I think $24K is the maximum downside, whether from here or in the next bear market. And that number will continue rising as BTC continues making new ATHs.

[fancynancy]

based on many factors including electricity cost i don't think the miners and the holders itself will let that

[maydna]

Yes, it is possible to go down to <$5k again, but that will be hard to lower than that price. But as we know that we don't know what will happen in the future, we can hope that thing will not happen in the future. Instead, the price will go for more than $40k in the future. If that price comes to the market, even if for just a short time, people don't want to miss the biggest chance to buy bitcoin at $5k, and I am sure they will instantly sell their altcoin buy bitcoin at that price.

[buwaytress]

Buying at $5K sounds nice while the market is trading at $33K, but if it really went there, it means something is very, very wrong. I doubt I'd be loading up. Going down with the ship maybe, but not loading up.

That would be the steepest decline since the 2011 bubble pop, which occurred after much, much larger gains than the current run. Losses like that should not occur unless there are serious existential threats to Bitcoin that shake investor confidence significantly more than it was shaken in 2018 or 2014. Anything is possible, but Wall Street's entry into the market indicates the exact opposite. Bitcoin is becoming less risky, less speculative, and increasingly less likely to simply crash to $0.

That's what the market is saying. So in all likelihood, any crash would be absorbed long before $5K. As I've said elsewhere, I think $24K is the maximum downside, whether from here or in the next bear market. And that number will continue rising as BTC continues making new ATHs.

Fair enough. I did say nothing is impossible, but yeah, if we "crash" down to $5000, it should be momentary and it will have to take something or many things converging -- not necessarily something very wrong with the underlying asset, could still be a lot of external factors. Take 2020's negative prices for oil, for example. A temporary glut in supply and inability to transport it, or even use it up with industries shutting down. Hard to see that happening to Bitcoin, but I still won't rule anything crazy happening, something of a given with crypto.

$24k max downside? That's me nodding hard.

[arwin100]

Buying at $5K sounds nice while the market is trading at $33K, but if it really went there, it means something is very, very wrong. I doubt I'd be loading up. Going down with the ship maybe, but not loading up.

That would be the steepest decline since the 2011 bubble pop, which occurred after much, much larger gains than the current run. Losses like that should not occur unless there are serious existential threats to Bitcoin that shake investor confidence significantly more than it was shaken in 2018 or 2014. Anything is possible, but Wall Street's entry into the market indicates the exact opposite. Bitcoin is becoming less risky, less speculative, and increasingly less likely to simply crash to $0.

That's what the market is saying. So in all likelihood, any crash would be absorbed long before $5K. As I've said elsewhere, I think $24K is the maximum downside, whether from here or in the next bear market. And that number will continue rising as BTC continues making new ATHs.

Fair enough. I did say nothing is impossible, but yeah, if we "crash" down to $5000, it should be momentary and it will have to take something or many things converging -- not necessarily something very wrong with the underlying asset, could still be a lot of external factors. Take 2020's negative prices for oil, for example. A temporary glut in supply and inability to transport it, or even use it up with industries shutting down. Hard to see that happening to Bitcoin, but I still won't rule anything crazy happening, something of a given with crypto.

$24k max downside? That's me nodding hard.

$5000 is quite huge crash to be imagine but I don't think we will go on that far since I think bitcoin have strong support at $25k - $30k and its so unimaginable on how we can reach that while we already got more higher price achieve this year so provably if something like bear market strikes again maybe the possible lowest price to be reached is at $20k or worse $15k.

[exstasie]

Fair enough. I did say nothing is impossible, but yeah, if we "crash" down to $5000, it should be momentary and it will have to take something or many things converging -- not necessarily something very wrong with the underlying asset, could still be a lot of external factors. Take 2020's negative prices for oil, for example. A temporary glut in supply and inability to transport it, or even use it up with industries shutting down. Hard to see that happening to Bitcoin, but I still won't rule anything crazy happening, something of a given with crypto.

Only the May oil futures contracts went negative, and that's due to the nature of physical delivery of a commodity like oil, which is quite expensive to store (especially when there is a global oil glut). Basically, the contract was very illiquid heading into settlement, and long traders had no way to take physical delivery of the oil. So they were forced to dump, or were liquidated in the resulting crash.

Hard to see that happening with Bitcoin!

I just don't see any fundamental justification for $5K prices outside of an existential threat or failure. It would be a complete divergence from what Bitcoin has done its entire life. Consider this: Bill Miller says bitcoin becomes less risky the higher the price goes

I agree with him. In my view, technicals tell everything about a market, and that sort of price action (crashing 88% to $5K at this point in a bull market) would indicate the market has largely lost faith in Bitcoin, to a degree not seen since 2011. That's totally at odds with the idea that Bitcoin becomes less risky as the price rises. We've got to consider how much supply has been sucked off the market in 2020, and what it would take to immediately bring it all back. It would have to be something truly threatening to Bitcoin's long term value proposition.

[Question123]

Price continue dropping and that is not good but maybe it will be preparing for the big pump like we seeing the price of 50k dollars. Base on my observation other said this year the bitcoin will become $100k and maybe it will possible. Right now happening is dumping and we have opportunity to have bitcoin with low value and we can earn more money from this for sure if it's real to happen.

[ourkid]

Fair enough. I did say nothing is impossible, but yeah, if we "crash" down to $5000, it should be momentary and it will have to take something or many things converging -- not necessarily something very wrong with the underlying asset, could still be a lot of external factors. Take 2020's negative prices for oil, for example. A temporary glut in supply and inability to transport it, or even use it up with industries shutting down. Hard to see that happening to Bitcoin, but I still won't rule anything crazy happening, something of a given with crypto.

Only the May oil futures contracts went negative, and that's due to the nature of physical delivery of a commodity like oil, which is quite expensive to store (especially when there is a global oil glut). Basically, the contract was very illiquid heading into settlement, and long traders had no way to take physical delivery of the oil. So they were forced to dump, or were liquidated in the resulting crash.

Hard to see that happening with Bitcoin!

I just don't see any fundamental justification for $5K prices outside of an existential threat or failure. It would be a complete divergence from what Bitcoin has done its entire life. Consider this: m/2021/01/08/bill-miller-says-bitcoin-becomes-less-risky-the-higher-the-price-goes-.html]Bill Miller says bitcoin becomes less risky the higher the price goes

I agree with him. In my view, technicals tell everything about a market, and that sort of price action (crashing 88% to $5K at this point in a bull market) would indicate the market has largely lost faith in Bitcoin, to a degree not seen since 2011. That's totally at odds with the idea that Bitcoin becomes less risky as the price rises. We've got to consider how much supply has been sucked off the market in 2020, and what it would take to immediately bring it all back. It would have to be something truly threatening to Bitcoin's long term value proposition.

How do you reconcile that with the drop to 1/4 of the price in the first four months of 2018? Was there a similar existential threat to BTC then too? Currently we're only within the 1st week of a similar 4 month period.

[exstasie]

In my view, technicals tell everything about a market, and that sort of price action (crashing 88% to $5K at this point in a bull market) would indicate the market has largely lost faith in Bitcoin, to a degree not seen since 2011. That's totally at odds with the idea that Bitcoin becomes less risky as the price rises. We've got to consider how much supply has been sucked off the market in 2020, and what it would take to immediately bring it all back. It would have to be something truly threatening to Bitcoin's long term value proposition.

How do you reconcile that with the drop to 1/4 of the price in the first four months of 2018? Was there a similar existential threat to BTC then too?

No. See the bolded phrase for emphasis.

That crash took place after magnitudes larger gains than those realized in this bull run. BTC broke the 2013 highs in January 2017. The bubble lasted a year. By December 2017, BTC had extended 16x above those 2013 highs.

In this case, the 2017 highs were only broken 1 month ago, and BTC has extended a mere 2x above the 2017 high. That's 1 year vs. 1 month and 16x vs. 2x. You're really expecting an 80%+ bear market crash already?

For this bubble to pop so much quicker than previous bubbles, and for the subsequent crash to also be so much harder than previous crashes.....that would indicate to me that something is different this time.

[Oilacris]

Always possible even below the $5,000 level. But from what we have all noticed, Bitcoin has been consistently increasing every year, and I guess we're at the level of which it's kinda hard to believe that Bitcoin would go back to that $5,000 level at this current run. But then again, I'm not taking away the possibility for it to happen. Nevertheless, If that happens then It would be another great opportunity to accumulate more.

No one knows on what would be on ahead when it comes to price because even if we do see that prices are way too high and presuming that we wont really be heading back to 5k
then its better to remove that kind of positivity in mind.

Market can crash from time to time thats why its not really safe to presume that we would be staying up into this levels  for so long.There would always be a selling point but lets hope that
it could really sustain that wont really be crashing hard.

We know that this market is unpredictable and its better to take opportunities when you do seem that the price is ideal for you to accumulate cheap coins.

[blckhawk]

Bitcoin can go to any price any time.

If you don't go in with that mindset you're pretty much screwed.

I went into it accepting my BTC could go to zero.

Yeah, Bitcoin could've gone down to $5k but I don't believe that it will be gone to zero though, if that happens then Bitcoin has no volume by then which seems impossible to happen. The Crypto market especially Bitcoin is always making unexpected movement it could go down to the floor and it can go up to the moon so I don't think we will able to predict it. However, I also think that Bitcoin could no longer go down around $10k because it has now a lot of back up like institutions who already entering the market, the growth was no longer FOMO, to simply say massive adoption it is.

[JimboToronto]

$5k?

Wishful thinking.

[MCobian]

It is very interesting to ask whether Bitcoin might drop below $ 5000 again or not. My answer is impossible, because of the increase in Bitcoin
nowadays because many institutions have started investing in Bitcoin. Which means that institutional investment in Bitcoin is impossible for
the short term, because the institution is definitely investing  in Bitcoin for the long term. So now Bitcoin fundamentals are much stronger than
Bitcoin in 2017. So I doubt Bitcoin will drop below $ 5000 again, the lowest possibility is that Bitcoin price will only drop to $ 10,000.