How low will BTC go before the next leg up to 45-50k??

[verita1]

Guys, Please. hold your bitcoin. I am almost certain that we will not see the price of bitcoin fall again as in the past.

Big investors like MicroStrategy are working fast on creating business models with Bitcoin. With this good plan for Bitcoin, the big investors will make it the most important digital asset.
Bitcoin is possibly showing its scarcity in the market and we will regret selling it.
 https://twitter.com/michael_saylor/status/1348988680598413312?s=19

Another piece of evidence that relieved my concern about bitcoin's sudden crash last Sunday.

https://twitter.com/HTDcris/status/1348580043723841537?s=19

This tweet will surprise you by Dan Tapiero Co-founder at DTAP Capital.

Looking at @ 100trillionUSD #bitcoin chart. So far kudos.

Yes 100k very possible by Q321 but then SIDEWAYS until 2024!

What will bitcoiners do for 3.5 years as mkt hovers around 2-3 trillion mkt value?

#Btc becomes stable pristine collateral as DAE gets built up around it.

https://twitter.com/DTAPCAP/status/1349181411249549312?s=19

[ilhamsugihamin]

In my opinion, the price of bitcoin is high right now and if you want to buy bitcoin, of course when the price drops so I recommend you to buy it at a price of $ 30k because I think the price of bitcoin will not drop below $ 30k.

[maxreish]

Bitcoin showed signs of recovery today. And the resistance level of $30k seems not yet reached as it dropped off to 25% down to 31k. Well, while most of the long entry liquidated from their trade, I tend to buy some part again and was having a profit and had a good results today.
 
 We can't say when it could be drop down to 20k usd but it was dropped down 25% that fast then it could also be possible that it could reach back to that price again.

[fojomo]

If you wanted to predict then I think BTC can go bottom @ 10K$ and when that happen it could bounce back 60K$. Well, as what other had told btc market is very unpredictable but the only key to success as what I had learn is to just hold in it and sell when you think is the right time to sell. Do not mind what others had say instead focus on your instinct. Just always trust in bitcoin and definitely you can earn depend on your goals.

Agreed.

[thecodebear]

The correction is over now. It bottomed at $30k. News of a company getting a US charter for digital currencies today plus Grayscale starting to buy again on Tuesday quickly ended the consolidation period of the correction after the drop to $30k. Bitcoin will never go below $30k now. Next stop passing $40k again and new ATHs, then $50k.

It's been reported that institutions were heavily buying the dip as retailers sold. As expected, bitcoin moving from weak hands retailers to strong hands institutions buying up for their long term stores. This correction was nothing more than a several day dip to make the charts look healthier to fuel the next surge to $50k. An article I just read said that 38% of the retail market during this dip was on the buy side, while 89% of the institutional market was on the buy side.

Some people still seem to not understand that the game has changed. Institutions have almost unlimited money relative to the retail market in bitcoin up until now. They've only just begun buying, and they are buying long term. They will keep throwing money at Bitcoin for years to come in order to build up positions to a few percent of their holdings. This is a tidal wave coming in that is going to flood the market permanently and dramatically. It's not a wave of retail frenzy that will collapse to a fraction of its size after some blow off top, it's a fundamental exponential expansion of the market. Expect billions of dollars a month of new institutional money to come in, month after month after month, for years to come.

Corrections will for the most part be short lived, just events to transfer wealth from panicky retail investors to the already wealthy institutions. Just look at this correction, suddenly many people were like oooh bull market over time to cash out or lose everything, people talking about 2018 haha...it lasted three whole days for crying out loud! And we're already back $8500 higher than the bottom of the correction and only $3500 from the ATH which was set all of like 5 or 6 days ago.

The Bitcoin market may be large now (10th largest asset in the world) compared to other single assets, and that may sound frightening because it's "too high" or whatever nonsense, but that's a bad comparison. The potential for Bitcoin is far larger than any single company stock, it's far larger than even gold. Bitcoin's potential is in the tens of trillions of dollars for market cap. At under a trillion dollars it is still tiny compared to its potential. Institutions who have done their research and are buying now understand this. Buying at $30k or $40k or whatever is an absolute steal for them and they know it, meanwhile scared retail investors drop the most valuable investment they'll ever make out of fear when it goes down for a couple days.

[pooya87]

Something that usually is forgotten by some people is that bitcoin doesn't have to drop and go low before it can go up. It just happens that after a major rise we always see a major correction (not to be mistaken with crashes and bear markets). This last one was a major correction and these are like special offers that the bitcoin market gives newcomers to join in at a lower price (with a discount) before it goes back up.

[exstasie]

The correction is over now. It bottomed at $30k. News of a company getting a US charter for digital currencies today plus Grayscale starting to buy again on Tuesday quickly ended the consolidation period of the correction after the drop to $30k. Bitcoin will never go below $30k now.

Never again? So sure already? We're only at $38K.

This is right smack in the middle of the OTE short zone (the 0.618-0.786 Fib retracement). In June 2017, a BTC bull trap reversed in this zone before the market completed a second leg down, crashing 40-41% total from top to bottom.

We'll only know the bottom is in in hindsight. In my opinion, not enough time or price action has passed. I'd say there is still a decent chance of sub-$30K.

[buwaytress]

Well, it does look right now like we won't be seeing sub $30k for a while now. Thought the last fall would take us through, bounced right off 30k, then middled for a while so I thought we might get another bear rush. Doesn't look like it's happening though, with 38k on track and the weekend approaching. Those bulls do love weekends.

[ethereumhunter]

I'm looking for a good re-entry point and thought I'd canvass the group to see where you think the bottom is before she starts her climb back up through 42K and beyond?

I am thinking around 20K.

Any guesses? If so, why (sentiment, support levels, etc)?

Thank you.

Happy 2021 and good luck to you all!

20k is history.  I don't think we will ever see anywhere near 29k again.  My hopes would be $500k by the end of 2029.

(Side note I love how I am a newbie with how old my account is lol)

Although $20k is history, we do not know how deep bitcoin prices will go down later. We can only hope that the bitcoin price will not go down below $30k. The new ATH will be more than $41k, so I am expecting to see bitcoin price will be more than $50k-$90k this year. Reaching $500k by the end of 2029 will be too long from now on, and we still have 8 years later to see how high bitcoin prices can increase.

[sallybein987]

How beautiful this morning.
I was surprised, when I saw btc price.
to the moon!

[thecodebear]

The correction is over now. It bottomed at $30k. News of a company getting a US charter for digital currencies today plus Grayscale starting to buy again on Tuesday quickly ended the consolidation period of the correction after the drop to $30k. Bitcoin will never go below $30k now.

Never again? So sure already? We're only at $38K.

This is right smack in the middle of the OTE short zone (the 0.618-0.786 Fib retracement). In June 2017, a BTC bull trap reversed in this zone before the market completed a second leg down, crashing 40-41% total from top to bottom.

We'll only know the bottom is in in hindsight. In my opinion, not enough time or price action has passed. I'd say there is still a decent chance of sub-$30K.

We'll see

I feel very confident $30k is gone for good. In bull markets later corrections don't go lower than earlier corrections.

I follow market dynamics over technicals. Market dynamics say massive supply crunch, institutional investors eagerly bought the dip and they have way more money than panic selling retails investors. The first US chartered digital bank today was apparently major news as well long term bullish for Bitcoin so on either side of the market its making people buy, plus Grayscale apparently just started buying again on Tuesday, which I have been saying the past few weeks as soon as Grayscale starts buying again any ongoing correction that happens is effectively over at these price levels.

I don't think we'll see another solid 20%+ correction until at least $50k, at which point it'd have to be 40% to go under $30k. Institutions strongly bought up this correction, and now Grayscale is back buying for the next 5-6 months which makes any sustained correction even that much harder. Unless the price action the past 24 hours was a giant bull trap and this is a double dip correction that we're still in the middle of (I don't think there's any way that is the case) then no I don't see $30k again. Next correction could be something like $50k down to $38k, don't think it'll be anywhere near $30k.

2017 was retail investor driven where people panic. The past few days a bunch of retail held bitcoin got panic sold and just got quickly bought up by long term institutions, constricting the supply even more. The weak hands have even less supply to drop now than when they just panic sold to $30k. Sure if this was still only retail driven I'd say $30k is absolutely still on the table for a double dip. But with institutions buying up maybe half a billion or more $ per week it's just not going to happen.

If we're going by 2017 standards then a dip close to $20k would be on the table, but times are different. With a whole new class of investor with far more money than the old class of investor eager to buy bitcoin at any current price because they're just now getting into the game so these are basement bottom prices for them. And for the most part they are buying long term. Nah, we had one shot to return to $30k, just missed going under, institutions loaded up and price isn't going back down there again. The floor is now $30k.

[AakZaki]

I don't think that Bitcoin is ready for $50k, and the drop will probably happen prior to this. I believe Bitcoin can easily go back to $15k at some point (and IMO it would be pretty good if that's the lowest point) or even to $10k (which is still very good after years of $6k-$7k stagnation). I've seen predictions that we have till spring, but nobody can know for sure, of course, and even making reasonable predictions in such unreasonable volatile times is very hard. A year ago, I thought it was very unlikely for Bitcoin to reach $40k, and yet I was wrong.

a price decline or correction will inevitably occur before it reaches the highest price. $ 50k could be reached very easily but there will be some shocks of course. if bitcoin drops to the $ 15k level that's very deep. I think the support point in the $ 20k area is still very strong. But I don't know, there are no truly accurate predictions because the market is out of control. All possibilities can happen in an instant.

[bakasabo]

It took 1 week to reach from $34k to $41k, but Bitcoin did not manage to gain a foothold on this level. Now we have faced correction and reality, Bitcoin gained only $4k for that week. I think Bitcoin price grown $3-5k weekly, but historically, after January price drops follows. I think we wont reach $50k this year. We will pass $40k mark in nearest future, but then either be in long flat or price will go down. It will try to recover in mid Summer or we will see new growth and ATH only in few years.

[Coin_trader]

How beautiful this morning.
I was surprised, when I saw btc price.
to the moon!

BTC Average True Range(ATR) was around 3K to 5K USD since the start of the year, So it's not surprising to see a sudden price pump since the price originally came from a correction. I really hoping that BTC price will become stable around 35k to 40k range so that it can build a solid support on that area. The current strong known support was 29K which is very far from the current price.

[Oilacris]

How beautiful this morning.
I was surprised, when I saw btc price.
to the moon!

BTC Average True Range(ATR) was around 3K to 5K USD since the start of the year, So it's not surprising to see a sudden price pump since the price originally came from a correction. I really hoping that BTC price will become stable around 35k to 40k range so that it can build a solid support on that area. The current strong known support was 29K which is very far from the current price.

Lots of strong supports which do underlies in 29k range or even on 27k range which we can presume that we would really be hardly going down into that point if this current price
will be stabilizing or holding up for some quite time.

But we should really remove that possibilities that could happen because price can crash on least expected times and those supports would be just sweep away in an instant.

We hope that this will be sustainable and would able to held of and we might really be seeing those new peaks that we didnt anticipated to reached out.

[pixie85]

20k is history.  I don't think we will ever see anywhere near 29k again.  My hopes would be $500k by the end of 2029.

(Side note I love how I am a newbie with how old my account is lol)

It looks like FOMO has got a hold of you. It's fine, I hope more people feel like that because it makes the rally even more powerful.

Of course we will see 29 thousand and below that because every bear market ends with a deep dive towards the long term support. It happened in 2015 and in 2019.

Even if we go to 50 thousand in a few weeks it's going to correct to 20 -25 thousand again one day. The trendline that marks the bottom is still at 16-17 thousand at the moment and we are overbought. Even 20 thousand is still in play and going there would still mean that we're in a bull market.

[crzy]

We are aiming for a new peak now and I’m confident to see a new all time high again since we bounce back stronger. It will take more time before we reach the level of $100k but I’m sure we are heading there. Though corrections are still possible so don’t over confident and just see the market trend correctly.

[tabas]

In my opinion, the price of bitcoin is high right now and if you want to buy bitcoin, of course when the price drops so I recommend you to buy it at a price of $ 30k because I think the price of bitcoin will not drop below $ 30k.

People won't listen to that advice. When bitcoin has reached $30k, they asked for more and a lower than that price. Now, looking to the recovery of bitcoin.
They're surely regretting that they've never bought when it was the dip. Their expected price for bitcoin to get lower hasn't happened and that's why some of them are forced to buy always at the peak.

[bitterguy28]

In my opinion, the price of bitcoin is high right now and if you want to buy bitcoin, of course when the price drops so I recommend you to buy it at a price of $ 30k because I think the price of bitcoin will not drop below $ 30k.

People won't listen to that advice. When bitcoin has reached $30k, they asked for more and a lower than that price. Now, looking to the recovery of bitcoin.
They're surely regretting that they've never bought when it was the dip. Their expected price for bitcoin to get lower hasn't happened and that's why some of them are forced to buy always at the peak.

You got it correct mate , Bitcoin seems like not going any low to 35,000 now and will take that 45-50,000$ anytime soon.

It's No regret that i Bought in 32k recently because now real profit is on my side after selling at 38k the last hype.

and i'm planning to take even more if the value goes back to 35k before the final bull comes.

[btc78]

It happens already days ago , and that is 30,000$ if you missed that chance then better enter now or be sorry sooner.
Bitcoin is in progressive movement and nothing can expect what comes in the near future but according to the movement , it looks like the growth will continue to happen and no lowering that may come.
But of course this will be depending on your faith and observations.
i maybe wrong but i maybe right also.