Will bitcoin go down below $20,000.

[romero121]

If bitcoin isn't able to breach $40k by the ongoing quarter of the year, then for sure we'll see bitcoin sitting on $20k. Maybe what I state is just an assumption, but there is more possible chances for it to happen. I believed the market to reach less than $30k, if happened and in a quote an user have mentioned Bitcoin won't stay stable above 10 consecutive days. Same as that Market behaved, maybe its a coincidence or can be precise prediction. In this way I believe the market will test $20k.

[rahmatrf331]

If bitcoin isn't able to breach $40k by the ongoing quarter of the year, then for sure we'll see bitcoin sitting on $20k. Maybe what I state is just an assumption, but there is more possible chances for it to happen. I believed the market to reach less than $30k, if happened and in a quote an user have mentioned Bitcoin won't stay stable above 10 consecutive days. Same as that Market behaved, maybe its a coincidence or can be precise prediction. In this way I believe the market will test $20k.

bitcoin won't sit at $20,000 that's a painful price for investors.
what makes you sure bitcoin will sit at $20,000 ? the chart is currently holding between $30,000 to $32,000. and it looks like the vehicle is advancing, it looks like bitcoin has fully refueled.
many investors will leave with a smile and enthusiasm.. looks like they will be rich in the 4th quarter of 2021..

[slaman29]

If you look at the chart we are always holding support at $30k level always like already 4 times happened breaking this line below will surely lead to downtrend and I hope it wont happen lets always remember that 2018 is not the same as 2021 this year btc are fully legalized in one Country so its big milestones for btc and also a lot of institutional investors entered, billionaires talking about it in social media even China fuds strikes again I think this wont affect much btc.   

It's not fully legalized in one country, just legal tender in one. It's fully legalized in a lot more countries than that and yes, I think it's a great step for Bitcoin but that's a long term game.

I do feel if we break 30k support again we could be in danger but on the plus side, breaking it but recovering fairly quickly each time could mean weakness on the bears.

[jostorres]

It's not fully legalized in one country, just legal tender in one. It's fully legalized in a lot more countries than that and yes, I think it's a great step for Bitcoin but that's a long term game.

I do feel if we break 30k support again we could be in danger but on the plus side, breaking it but recovering fairly quickly each time could mean weakness on the bears.

It is correct, it is fully legalized in so many countries right now that 30k doesn't even sound that weird because we have seen even government officials investing into crypto right now, that is a good thing. For example, if you take a look at USA, they fully legalized it long time ago, they have a mayor (Miami) that wants to pay staff in bitcoin, they have coinbase fully IPO'd few months ago, and they are really doing amazing right now.

We have Germany that allowed banks to be doing crypto work as well and we had so many other nations as well, these are just the two huge news from huge countries that came to my mind but we probably reached to 50+ nations fully legalizing it by now. Long story short 30k+ only happened not because we just bought it, but because there were a lot more people who realized it is not something risky to invest and fully legal to invest.

[ILuckyGuyI]

When it was under $30k again, I was thinking like it could continue to decrease until reachind $25k. But I never thought that it would reach a level below $20k. And now, Bitcoin has a really good rally. It's over $30k again and even reached $34k. And I feel like this may continue until reaching at least $40k. This is just a prediction of course. I can never know what's going to happen.

[Saisher]

I think it has something to do with the last meeting between Dorsey and Elon Musk where each one gave positive feedback on the future of Bitcoin and Elon Musk is very open in his support of Bitcoin now, the price is doing good in the market now I hope this brings back the confidence of investors to the market and hopefully it will reach $40k before the end of this year.

[gabbie2010]

I think that such thing won't happen. I never expected the price to fall that much. I thought that maybe it could come closer to $25k but it didn't even happen too. From now on, I don't think that we'll see a big dump. It's time to start recovering slowly.

It is very obvious that support at $29K was very strong so far thus every effort by the price to break it proved abortive from Technical analysis point of view thus I don't the price will go down to $20K going by the price turn around in the few days ago which massive and this had really indicated that price of bitcoin is no longer heading to any $20K instead made a  u-turn and presently the price is likely heading to a major resistance at $36K this has put paid the speculation by the OP that the price will dump to $20K slowly the bulls are already taking over the market, the price action in next couple of days will reveal the overall market sentiments I am quite optimist that the present price upsurge will continue to trend bullishly thus ending a bearish season that started since mid May this year.

[zanezane]

There's no definite answer to this but I personally don't think that it will go under 20k this time because I feel like the increase of institutional investors in recent years made the price floor much higher and I don't think that these institutional investors are going away anytime soon to lower the price floor.

[elisabetheva]

There's no definite answer to this but I personally don't think that it will go under 20k this time because I feel like the increase of institutional investors in recent years made the price floor much higher and I don't think that these institutional investors are going away anytime soon to lower the price floor.

looks like what you said could be true, there is no visible sign that leads to down again, the correction that has been made is quite large and currently the bitcoin price is quite stable with the current price. although there are ups and downs the range is only at #29K-$41K and no further movement. this has been done for a long time and indicates that bitcoin is comfortable with the current stable price.

the $20K price is not going to happen and it's precisely at prices that are fairly stable at the moment, preparing bitcoin for momentum to bounce back to reach renewable ATH by the end of the year. remember that the Halving effect that always occurs a year later at the end of the year has not been seen and we are waiting for it.

[btc_angela]

There's no definite answer to this but I personally don't think that it will go under 20k this time because I feel like the increase of institutional investors in recent years made the price floor much higher and I don't think that these institutional investors are going away anytime soon to lower the price floor.

For now yes, the price seems to be going up again after going ~$30k last week. Now it's about $34k and continue its upward trend. But we are not yet out of the woods yet, any negative news that will come up will really affect the price right now, so its possible that it go down that low under extreme circumstances. We really need to get like $40k++ again so that the chances of going below $20k is very slim.

[Raflesia]

There's no definite answer to this but I personally don't think that it will go under 20k this time because I feel like the increase of institutional investors in recent years made the price floor much higher and I don't think that these institutional investors are going away anytime soon to lower the price floor.

For now yes, the price seems to be going up again after going ~$30k last week. Now it's about $34k and continue its upward trend. But we are not yet out of the woods yet, any negative news that will come up will really affect the price right now, so its possible that it go down that low under extreme circumstances. We really need to get like $40k++ again so that the chances of going below $20k is very slim.

Still we have to see a little correction going forward, it doesn't mean it will be a bear but it will only return to the usual 30k figure it is the lowest point for several months, but indeed the negative trend of the news can affect it especially now it is still unstable at the moment going to pump but I believe it should be able to redeem 35k first to know if this will be a safe point or indeed reverse direction.

Indeed, this is still far for a more basic down opportunity, but we have to keep an eye on it to see how the market moves which will not happen, but 40k may be the point of interest for now.

[Shasha80]

There's no definite answer to this but I personally don't think that it will go under 20k this time because I feel like the increase of institutional investors in recent years made the price floor much higher and I don't think that these institutional investors are going away anytime soon to lower the price floor.

For now yes, the price seems to be going up again after going ~$30k last week. Now it's about $34k and continue its upward trend. But we are not yet out of the woods yet, any negative news that will come up will really affect the price right now, so its possible that it go down that low under extreme circumstances. We really need to get like $40k++ again so that the chances of going below $20k is very slim.

Still we have to see a little correction going forward, it doesn't mean it will be a bear but it will only return to the usual 30k figure it is the lowest point for several months, but indeed the negative trend of the news can affect it especially now it is still unstable at the moment going to pump but I believe it should be able to redeem 35k first to know if this will be a safe point or indeed reverse direction.

Indeed, this is still far for a more basic down opportunity, but we have to keep an eye on it to see how the market moves which will not happen, but 40k may be the point of interest for now.

The recent rise in the price of Bitcoin has convinced me that there is a possibility that Bitcoin may start to recover, and could return to above $40k.
Although it is possible that after Bitcoin reaches $35k, there will be a small correction first and after that it can go higher again. Let's hope that
in the next few days there will be no bad news, otherwise Bitcoin could go back down again. But if we look at the movement of Bitcoin in recent weeks,
it is very unlikely that the price of Bitcoin will drop below $20k.

[Botnake]

There's no definite answer to this but I personally don't think that it will go under 20k this time because I feel like the increase of institutional investors in recent years made the price floor much higher and I don't think that these institutional investors are going away anytime soon to lower the price floor.

For now yes, the price seems to be going up again after going ~$30k last week. Now it's about $34k and continue its upward trend. But we are not yet out of the woods yet, any negative news that will come up will really affect the price right now, so its possible that it go down that low under extreme circumstances. We really need to get like $40k++ again so that the chances of going below $20k is very slim.

Still we have to see a little correction going forward, it doesn't mean it will be a bear but it will only return to the usual 30k figure it is the lowest point for several months, but indeed the negative trend of the news can affect it especially now it is still unstable at the moment going to pump but I believe it should be able to redeem 35k first to know if this will be a safe point or indeed reverse direction.

Indeed, this is still far for a more basic down opportunity, but we have to keep an eye on it to see how the market moves which will not happen, but 40k may be the point of interest for now.

The recent rise in the price of Bitcoin has convinced me that there is a possibility that Bitcoin may start to recover, and could return to above $40k.
Although it is possible that after Bitcoin reaches $35k, there will be a small correction first and after that it can go higher again. Let's hope that
in the next few days there will be no bad news, otherwise Bitcoin could go back down again. But if we look at the movement of Bitcoin in recent weeks,
it is very unlikely that the price of Bitcoin will drop below $20k.

No, bitcoin will not drop $20k yet but we already saw it trading at $29k, so it's a sign that it's possible to see $20k in the near future. Good thing the market is slowly recovering now, but it's still not enough to break to $40k as the news that resulted to this pump is not big enough, not enough to move the entire market significantly.

[Westingcote]

If bitcoin isn't able to breach $40k by the ongoing quarter of the year, then for sure we'll see bitcoin sitting on $20k. Maybe what I state is just an assumption, but there is more possible chances for it to happen. I believed the market to reach less than $30k, if happened and in a quote an user have mentioned Bitcoin won't stay stable above 10 consecutive days. Same as that Market behaved, maybe its a coincidence or can be precise prediction. In this way I believe the market will test $20k.

It is a assumption with nothing to back up your cases and is useless for what reason do you figure Bitcoin will hit 20k what are your explanations behind explicitly 20k?

[7788bitcoin]

~
Me, too. But it is not impossible. Bitcoin price can drop significantly in the next bearish season, no one can guess how much. In my humble opinion, if there is no new ATH for BTC price in the upcoming months, it is very possible for Bitcoin price to drop again below $20,000. Note that we are not in the dip of bearish now, but Bitcoin already dropped below $30,000 several times. Can you imagine when it is in the bearish season and there will be huge negative issues about Bitcoin as well? Bitcoin price definitely will fall sharply.

It is possible that we could see sub $20k yet again but i did not understand why you think it is necessary to touch another all time high in the upcoming months, right now we are seeing a good support at $30k and as long as that support stands you do not need another all time high to sustain that support. One thing is certain that investors are jumping in whenever the price touches $30k and it is an indication that we might see another rally before a major crash but that does not mean we need to touch another all time high valuation.

[roosbit]

Bitcoin did lose a lot of momentum after the first quarter of the year, and I think price has found some support which is its lowest low of the year, I don't see it breaching downwards to go as low as $20,000.
If you have been following price, we have seen some positives happening these past few days and you know when it comes to bitcoin when it's in a trending market this happens for some time, am just looking forward  to a bullish trending market maybe we can see $50k or $60k.

[Ozero]

I think that the bottom of the May price drop in the cryptocurrency market has already passed and the predicted drop in the price of bitcoin to $ 20,000 will no longer exist. This is eloquently indicated by today's sharp rise in prices. Bitcoin climbed to $ 38,174 today, up nearly $ 4,000 overnight. It seems that it grows further, and all altcoins rise in price behind it. It seems that over the next few days, the price of bitcoin could exceed $ 40,000 and thereby open up room for further growth.

[Rajamuda]

Say goodbye to the $20k level, nowadays facts prove that it is on a significant move on the upside, it's trying to hit $40k.
Regarding whether the scenario will be the same or not, it is not certain that it will be the same, because of course.. the various things could suddenly affect it.

[revilo]

Looks like what happened in 2018 is happening again this year, if it's the same scenario then we can expect a long bear run for the market. Bitcoin dropping below $30k creates panic, altcoins are dumping as well so what can we expect that bitcoin has already fallen below $30k now?

Will we see the same scenario in 2018 or it will be different this time?

Bitcoin is now different from year 2018, the price is amazing it reach 60k$ and I don't believe that it will fall down below 20k$ in fact it is now start rising after it downfall up to 29k$ last week. I believe that bitcoin will rise soon and reach another ath.

I guess for now OP got his answer. With this push towards $40k, I would say it is almost impossible that we will see a Bitcoin price below $20k anytime soon. It is 100% impossible, but seriously it is highly unlikely. That would mean a drop around 50% from where we are now and I think the resistance will be way too strong for Bitcoin to go below that level.

[freedomgo]

Looks like what happened in 2018 is happening again this year, if it's the same scenario then we can expect a long bear run for the market. Bitcoin dropping below $30k creates panic, altcoins are dumping as well so what can we expect that bitcoin has already fallen below $30k now?

Will we see the same scenario in 2018 or it will be different this time?

Bitcoin is now different from year 2018, the price is amazing it reach 60k$ and I don't believe that it will fall down below 20k$ in fact it is now start rising after it downfall up to 29k$ last week. I believe that bitcoin will rise soon and reach another ath.

Bitcoin has more support and strong resistance than any time before, comparing the 2018 with 2021 won't work out. Anyway, Does this mean bearish market finally over? From this point, BTC either go up or down. Until BTC beat the resistance $41K, don't be too comfortable. It's hard to argue any sort of bullish activity at this moment.

We shall see soon as we have good news that resulted in the pump of bitcoin, bitcoin is currently trading at $38k now, from $29k last week I think, so it's a big improvement, and this news that came out today really help bitcoin to recover. Question is, can bitcoin break the resistance? we shall see in 24 hours from the date the news about amazon was published, if it will not, then the rumor is not reliable enough to convince people to invest.