How bad will the bear market of 2021 get? How low will BTC go?

[Coin_trader]

I think gold is worthless garbage. So why would you assume most people would like gold and not think it's garbage.
Do you really think they would just love high fees, slow transactions and also other problems? Why would you assume that?


On serious note I hope for $5k/BTC in 2023 to rebuy.

Haha. I guess the stock market would be more your thing. Low fees, even free at Robinhood. Very fast transactions using most stockbroker accounts.
 

If you invested in Tesla stock last 2 years you would have made more money than in Bitcoin, there is nothing special about btc, there is more money to be made elsewhere with less risk.

Cryptomarket is just on the early stage so the volume is not that big compared to the stock market. You can have a big profit in cryptomarket if you are smart enough on trading which you can't do on stock market.

For Tesla, Yes investing in Tesla 2 years ago is more profitable than BTC. But if you compared the price during the start price of BTC and Tesla, You will have a tremendous profit advantage on BTC. Your example is pretty one sided.

[Darker45]

Bitcoin is down considerably from it's peak. How low do YOU think bitcoin will go before it stabilizes?

I cannot give you the number but this correction has been expected. The rise of Bitcoin was tremendous and fast. It will have to retrace soon. This is it. But this does not mean that we are not bullish anymore.

The new incoming US administration has stated that it does not seek a weak dollar, will that be the deathblow to the future of bitcoin?

This is the US administration stating the obvious. No administration, whether incoming or outgoing, seeks a weak dollar. Who's crazy enough to say that they would want the US dollar to weaken?

But, wait a minute, how in the world is this connected to Bitcoin? Bitcoin is not exclusively a US alternative currency. The world of Bitcoin is not revolving around the US alone nor its economy or currency.

Even the fall of the entire US economy is not a deathblow to the future of Bitcoin.

[LittleBitFunny]

You have to know that BTC is not a charity farm. The main purpose should be buy as much as you can when price started falling, and hold for a long time to reach on your target, after reaching to your target you will see your expected profit. I don't prefer day trading or short term trading. So, try to buy more Bitcoin without panic when the price goes down.

[A62662]

You have to know that BTC is not a charity farm. The main purpose should be buy as much as you can when price started falling, and hold for a long time to reach on your target, after reaching to your target you will see your expected profit. I don't prefer day trading or short term trading. So, try to buy more Bitcoin without panic when the price goes down.

That has got to be some of the worst advice I've ever heard, then every purchase you make will give a ever increasing loss in a downtrend. Do you even understand what you are saying?

I would advice to sell everything you have when you see it drop every day like it has lately, you can thank me later.

[Sirait]

~snip

Haha. I guess the stock market would be more your thing. Low fees, even free at Robinhood. Very fast transactions using most stockbroker accounts.
 

If you invested in Tesla stock last 2 years you would have made more money than in Bitcoin, there is nothing special about btc, there is more money to be made elsewhere with less risk.

Tesla stock charts for the last 8 years


the price of Bitcoin over the last few years

^ If we look at what this chart shows, it's Bitcoin is more profitable than Tesla. Regarding what price Bitcoin will be bearish at, I can only predict it won't be below $ 17k.

[A62662]

Never ever buy ANYTHING after it has had a huge runup, you are practically guaranteed a huge loss.

[irixo10]

It is normal for a new government to say what they want for the growth of their own economy, and saying that they don't want a weak dollar is understandable moreover no country ever want that, every country strives for more stronger Currency. Also, it's too early to know what the new administration have in stock for the crypto market, we just have to wait for a while to understand their true intentions. Coming to Bitcoin also, the dump in price can be seen as price correction or it could be bear market setting in gradually, no one can really say and predictions are already out as to what level it will drop to but in essence no one can correctly answer the question of how low it get to before it stablizes. Therefore, if you are short term holder or trader, well you can make your choices to sell or keep taking profits as at when due such that if the market drops more you won't lose a lot.

[Lucius]

Never ever buy ANYTHING after it has had a huge runup, you are practically guaranteed a huge loss.

I wouldn’t agree with that, especially if we look at long-term investing in Bitcoin. The people who bought BTC in the last big bull run at the end of 2017 and decided to keep it were at a loss, but in the long run they made as much as 100% profit if they sold at a price of $40k. But I can agree that those who are just looking for a profit can definitely earn a lot more if they invest at a time when a big correction is happening and when a bear market is emerging.

In a little less than a year ago 1 BTC could be bought for under $5000, and then it was a great time to invest - of course for those who believed in recovery. On the other hand, it is not a bad financial decision to buy BTC even today, especially if we believe that growth of 100% or more is possible by the end of this year.

[tinopener]

Peter Schiff knows the true nature of assets and money better than most people, he's a fundmanager. He also knows bitcoin very well, and he thinks it's worthless garbage. So why would you assume most people would like btc and not think it's garbage.
Maybe most of them will think it's garbage just like Schiff does? Do you really think they would just love high fees, slow transactions and also other problems? Why would you assume that?

It's probably more of a case of Schiffer setting out his stall i.e. he wants to attract a more traditional, fearful type of customer. The type who has 80% in bonds.

The fund manager Ruffer Investment Management on the other hand has just added 2.5% Bitcoin to its balance sheet. Funnily enough Ruffer is a strategic "absolute return" company, sort of a bond proxy.

I've never heard of Peter Schiff's companies before, maybe because I'm in the UK. Everyone has heard of Ruffer though who manage $20bn in customer assets.

Ultimately, it's still all risk / reward with a few horses in the race.

More and more people are simply putting an each way yankee bet on Bitcoin though 

[minersday]

How bad will the bear market of 2021 get? How low will BTC go?

Considering the market pattern of Bitcoin in 2017, 2018, 2019 and 2020, it is likely that we might see the market value of bitcoin go below $30k or $25k. The Bitcoin market is also full of surprises, I will be surprised if we see Bitcoin drop below $25k. Also, the market value can potentially go beyond $40k.   

[ultrloa]

Bitcoin is down considerably from it's peak. How low do YOU think bitcoin will go before it stabilizes?

The new incoming US administration has stated that it does not seek a weak dollar, will that be the deathblow to the future of bitcoin?

Do you think there are people here can answer your question accurately? since by the word unpredictable that what makes bitcoins mysterious and I suggest to you that its better to do your own research since people might give you a  false information which can create trouble for you in the long run, remember many manipulator are giving some false insights so best not to listen if we talk about future since all info's given are just predictions.

lets just see on what will happen with the price when Biden officially set for a month, But I think it cannot give bad effect to the crypto since I believe they are aware that this is so useful.

[Oasisman]

This movie was an old movie with a futuristic setting, and people was becoming dumber. Ok, I remember this movie, just forgot the title.

Never ever buy ANYTHING after it has had a huge runup, you are practically guaranteed a huge loss.

Guaranteed loss?
Ok, lemme ask you something. During the 2017 bullrun, those who bought even at the peak of 2017 Bitcoin ATH and still holding up to this very moment, do they have a guaranteed loss If they sell today?
Now, tell me again If they have been guaranteed a huge loss?

I have been telling this a hundred times, $30,000 or $40,000 might not be expensive tomorrow.

[francois-cooper]

For those who bought bitcoin 3 months ago, they're still x2 on their investment.
It's not too bad.

[molsewid]

How bad will the bear market of 2021 get? How low will BTC go?

Considering the market pattern of Bitcoin in 2017, 2018, 2019 and 2020, it is likely that we might see the market value of bitcoin go below $30k or $25k. The Bitcoin market is also full of surprises, I will be surprised if we see Bitcoin drop below $25k. Also, the market value can potentially go beyond $40k.   

I bet it will go as low as $25k too, it is continously dropping this week and I don't see any strong support that will hold the bitcoin and bounce it afterwards, the new candle in 4H chart shows red meaning it is open downwards this will be an indicator that bitcoin has a higher possibility that go dump in the next few hrs, maybe later after 4hrs if we see that it opens in green one maybe it will bounce back and continue to grow as high as 40k but as what I can see it will go straight to the buttom.

[Twinkledoe]

For those who bought bitcoin 3 months ago, they're still x2 on their investment.
It's not too bad.

Yes, so if they decided to sell it now, they are still in good profit. Now, it is up to them if they will continue to risk or secure some of their coins by converting some to their fiat. It is really up to the user how he will make a decision on this matter. Are they really up to the challenge this year or not?

[Bitstar_coin]

You have to know that BTC is not a charity farm. The main purpose should be buy as much as you can when price started falling, and hold for a long time to reach on your target, after reaching to your target you will see your expected profit. I don't prefer day trading or short term trading. So, try to buy more Bitcoin without panic when the price goes down.

What has charity farm got to do with the op's question! i don't think the op sees btc as a charity farm rather an investor who cares about the nature of the investment, it is very direct the question op ask but unfortunate nobody can say how low btc will go this year, maybe it will not go as low as 2018 however it will be best to keep watch of the market behavior to know.

[A62662]

Right now we have the good, the bad and the ugly.

The bad is that bitcoin has reached it's peak and is in the process of dropping.

The good is that there is still plenty of profit for the ones that bought early, if they sell now before it falls even more. We might see bitcoin come down and drop below 20k in the near future.

The ugly is whoever bought at or near the top, and already suffer a large loss that will most likely grow even bigger.

Where will the bottom be, where will it stop dropping?

[thecodebear]

Bitcoin is down considerably from it's peak. How low do YOU think bitcoin will go before it stabilizes?

The new incoming US administration has stated that it does not seek a weak dollar, will that be the deathblow to the future of bitcoin?

Since when is there a bear market in 2021? We're in a bull market. A correction is not a bear market.

And let's see, depreciating dollar due to inflation vs booming deflationary emerging asset....haha no, nothing the dollar does can stop bitcoin. A stronger dollar might mean Bitcoin is at $34k instead of $35k, or $115k instead of $120k, or $310k instead of $320k.

[A62662]

Bitcoin is down considerably from it's peak. How low do YOU think bitcoin will go before it stabilizes?

The new incoming US administration has stated that it does not seek a weak dollar, will that be the deathblow to the future of bitcoin?

Since when is there a bear market in 2021? We're in a bull market. A correction is not a bear market.

And let's see, depreciating dollar due to inflation vs booming deflationary emerging asset....haha no, nothing the dollar does can stop bitcoin. A stronger dollar might mean Bitcoin is at $34k instead of $35k, or $115k instead of $120k, or $310k instead of $320k.

What about $7k instead of $8K or $3k instead of $4K. You didn't mention that, did you forget?

[veznata]

i don't know how many people know about bitcoin since 2010-11 but for those who are in this business for that long they know very well that must not panic and just hold. so many times we heard in past BTC is about to collapse. the fact is it goes higher and higher. another fact: we are in a bull period this means price climbs very much while 20% dips (like the one we have now) is a normal correction. we also have seen that million times so far. the chances bitcoin never reaches 40K again? for me 1 in 100K.