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

[BrewMaster]

this topic and some of the replies i went through gave me a very strange feeling like what i had back in 2018 when people were asking about whether price is going to go back to $1500 again when it was going to break the $4k resistance and break out with a massive FOMO.

i am always fascinated by how the history keeps repeating itself in bitcoin world without some people taking any lessons from it. i actually have a couple of topics about this too.

[jaberwock]

Not Unless there is a more destructive and Phenomenal happens than CORONA VIRUS i don't think that Bitcoin will go down that level again .

Last year is tough for Bitcoin but Never did fell into 5k$ just this Pandemic that make the market shaking wild but do recovers just Months after.
Bitcoin had already proven its capacity and considering that the Blow now is More than what we expected last year , Meaning we can survive another Bad Hit if there comes one again.
and the damage won't be like what we had in the 2020 crash.
also Investors now are Real person and not just random whales that taking the advantage of vulnerability of this market.

Last year's crash was different, we were around 9k when the price crashed under 5k, that is less than 50% fall that saw us that low, however now we are nearly at 40k, even with the same sort of crash the price would be at worst 20k, even with all the FUD and crash and problems we will probably see only a small crash, hence why I think it is quite obvious that we are not doing that bad even during a crash.

However world is getting that vaccination, obviously we do not know what is going to happen afterwards, we are going to be just a lot more resistant towards the virus, which means we should be fine, and with tens of millions of dollars not having ANY problem even with the virus on their body, vaccination will prove to be great, if that fails we may have to wait a bit more but I believe this virus will be less harmful than flu when vaccination is done over the world.

[Mahanton]

this topic and some of the replies i went through gave me a very strange feeling like what i had back in 2018 when people were asking about whether price is going to go back to $1500 again when it was going to break the $4k resistance and break out with a massive FOMO.

i am always fascinated by how the history keeps repeating itself in bitcoin world without some people taking any lessons from it. i actually have a couple of topics about this too.

You would see similar words when we do actually see the same scenario.People never ever learn on what they had experienced in the past but instead
they do keep repeating up words rather than taking such actions or trying to make out some analysis for their own benefit.Going down question is something
that had been part of this market but the truth that market can move without relying any analysis or indicators out there.It all matters with the demand
and some influence of those big players in the market.We wont know on when they will be selling out their bags.

[Sithara007]

this topic and some of the replies i went through gave me a very strange feeling like what i had back in 2018 when people were asking about whether price is going to go back to $1500 again when it was going to break the $4k resistance and break out with a massive FOMO.

i am always fascinated by how the history keeps repeating itself in bitcoin world without some people taking any lessons from it. i actually have a couple of topics about this too.

Back in 2018, Bitcoin didn't enjoyed any sort of support from the institutional investors. That has changed now, and the institutions have purchased upwards of a million BTC. There is a drop in supply, as a result of the block reward halving. These factors will combine together to make sure that there will not be a repeat of the corrections that we witnessed during 2014-15 and 2018. Also, most of the investors are now aware of this 5-year cycle, and they will be more cautious about selling their coins at dips.

[Febo]

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

I dont think so. I dont believe can go below $10k ever again. Most likely it will also stay above $20k. Or at least if will somehow fall below $20k it will retrace back extremely fast. Impossible to buy unless you will have buy orders set at that price.

[Oilacris]

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

I dont think so. I dont believe can go below $10 ever again. Most likely it will also stay above $20k. Or at least if will somehow fall below $20k it will retrace back extremely fast. Impossible to buy unless you will have buy orders set at that price.

With the current Bitcoin double spend issue then i doubt that this will really be affecting the current price but somehow it did able to avoid the worst possible scenario or we are just starting up?

There are lots of strong support levels in 30k and 20k+ prices and im that confident that it cant be possibly be broken out but lets still be aware on possible changes of course of action depending on the situation.

Price is always unpredictable and it can crash anytime but its hard to believe that we would really be seeing an another 2017-2018 event.

[KTChampions]

grayscale just bought 16k BTC in a single day. that's 18x the mined supply, so they are just eating up all available market supply! i'll be amazed if sellers can take this market below $30k again given the size of these inflows from institutions.

On January 18 they added 16,244 BTC to their fund!



More than 600,000,000 inflows on a single day.
Highest BTC inflow ever.
Highest USD inflow ever.

I wonder if they foresaw such a rollback and what their actions will be. It would be wise to keep buying now - it would quickly return the market to growth and allow them to build up their capital, but it is not known how much liquidity they have to act this way.

[fillippone]

<...>
I wonder if they foresaw such a rollback and what their actions will be. It would be wise to keep buying now - it would quickly return the market to growth and allow them to build up their capital, but it is not known how much liquidity they have to act this way.

Just remember Grayscale has no discretionality on their buying: they just react to the money inflows from their investors. They transform the inflows (cash or BTC be it) into GBTC shares.

[SaveOurSea]

<...>
I wonder if they foresaw such a rollback and what their actions will be. It would be wise to keep buying now - it would quickly return the market to growth and allow them to build up their capital, but it is not known how much liquidity they have to act this way.

Just remember Grayscale has no discretionality on their buying: they just react to the money inflows from their investors. They transform the inflows (cash or BTC be it) into GBTC shares.

does that mean they hold Bitcoin for a longer term? If that is the case they are unlikely to buy Bitcoin at a high price,
especially when there is news that Grayscale bought 8,000 more Bitcoin when the price fell at $ 32k,
but what happened was panic sell, $ 30k is the strongest support for Bitcoin, if the price breaks again below $ 30k,
better get out, and the question is whether bitcoin will drop to $ 5000? the answer is impossible for now!

[Saisher]

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

I dont think so. I dont believe can go below $10 ever again. Most likely it will also stay above $20k. Or at least if will somehow fall below $20k it will retrace back extremely fast. Impossible to buy unless you will have buy orders set at that price.

This week we have a huge 17.4 % drop one of the highest this month the last high one was 18% but Bitcoin eventually recover it could go either way this week, it could go down to $25k or bounce back and show strength and recover it's previous losses, let's see how this weekend plays out there should be a rally to happen right now. 

[pixie85]

this topic and some of the replies i went through gave me a very strange feeling like what i had back in 2018 when people were asking about whether price is going to go back to $1500 again when it was going to break the $4k resistance and break out with a massive FOMO.

i am always fascinated by how the history keeps repeating itself in bitcoin world without some people taking any lessons from it. i actually have a couple of topics about this too.

They never learn and Bitcoin is so simple or at least it used to be because there can always be that first time

First simplest thing that bitcoin has always done is that it always begun a bull market from a point of a much higher level than the previous ATH and then went parabolic, followed by a sharp correction and a bear market.

In 2013 it went up in Spring, corrected and then again parabolic to 1000 and went into a bear market ending at where it begun in Spring at about 200 USD
In 2017 went from 1000 the old ATH to 3000, corrected to 1700 and from that we went parabolic to 20 thousand and corrected back to 3000.
This year we had our first rally to 41000 and are experiencing this first correction before going parabolic.

5000 is out of the question unless bitcoin dies because all things come to an end one day.

[UnDerDoG81]

Doomsday posts popping up. VERY BULLISH!!

[wheelz1200]

Anything is always possible.  Can it go to 5k sure, can it go to 100k yes.  What will happen will probably be a mix of something in the middle.  In every market there is always pullback.  I think people are far too invested to dump down to 5k but I dont think anything in crypto would surprise me.

[Shasha80]

It is very interesting to see the current price of Bitcoin which continues to fall, as I write this post Bitcoin is priced at $ 30k. If the $ 30k support
price is broken, the Bitcoin price will fall even faster. At least Bitcoin won't drop below $ 20k. Moreover, Bitcoin drops below $ 5000 again like
it is impossible. We all hope that the price of Bitcoin will rise again soon, at least I want Bitcoin to be stable at $ 35k. In order to provide
an opportunity for the altcoins pump.

[TheGreatPython]

this topic and some of the replies i went through gave me a very strange feeling like what i had back in 2018 when people were asking about whether price is going to go back to $1500 again when it was going to break the $4k resistance and break out with a massive FOMO.

i am always fascinated by how the history keeps repeating itself in bitcoin world without some people taking any lessons from it. i actually have a couple of topics about this too.

We didn't really do that in 2018, are you mistaking it with 2017? Because in 2018 we went down and down and down and down without stopping, went form 20k to as low as 3.6k and asking if we would be 1.5k was a very valid question considering we got there from 20k. However in 2017 it was obvious that "would we go to 1.5k again" question may have followed by bitcoin reaching over 4k and going to 20k. We had something similar once again, until 20k it was about as resistance filled as possible, same as 4k was in 2017, and when we broke over it, we doubled easily without stopping much.

However remember that when you break over a level, it goes back to that level eventually, which means a 20k price could be soon possible, maybe in a week, maybe in a year but I do see 20k as our base of operations from now on, that was about 5-10k levels before, now should be about 15-20k levels probably.

[3meek]

All this talk never changes... Maybe it will, maybe it won't! It's all just speculation and as the banks and manipulators want it, so will the price! For example, this bull run happened solely due to the printed Tether, just like in 2017... So I don't think anything can prevent the value of 5K...

[MishaSER]

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

I dont think so. I dont believe can go below $10k ever again. Most likely it will also stay above $20k. Or at least if will somehow fall below $20k it will retrace back extremely fast. Impossible to buy unless you will have buy orders set at that price.

I see a lot of people writing from 20k, I don't understand where they got these numbers, I've seen that the market is behaving against the community.

[KTChampions]

<...>
I wonder if they foresaw such a rollback and what their actions will be. It would be wise to keep buying now - it would quickly return the market to growth and allow them to build up their capital, but it is not known how much liquidity they have to act this way.

Just remember Grayscale has no discretionality on their buying: they just react to the money inflows from their investors. They transform the inflows (cash or BTC be it) into GBTC shares.

Exactly! I completely forgot about this moment. In fact, they don't care what happens to the asset. I read the analysis of the work of their service and if I understood correctly then over time, regardless of how the price of the asset changes, all bitcoins will go to this company. Very tricky business)

[coin-investor]

Nothing is impossible in the Cryptomarket where there's a lot of FUDS and manipulation, and there could be a similar situation like CoVid where the price drops to $5k, it's very important to watch out what's coming to get the real-time update and look in the current news that might have an impact in the market so you can prepare if there is a huge crash.

[Wawa2013]

I am very optimistic that many institutions investing in Bitcoin will not make Bitcoin price drop below $ 5000 again. Especially if we look at
the current Bitcoin movement which is slowly starting to recover, like in the near future Bitcoin could return to a price of $ 35,000. Hopefully
my current prediction is correct, because I admit it is not easy to predict the price of Bitcoin. Sometimes Bitcoin moves in unexpected ways.