Bitcoin scenario crashing to $20.000 - $23.000

[el kaka22]

I would say that it is quite unlikely for us to drop there, even with a huge fiscal responsibility movement from all around the world. Don't get me wrong, it is not impossible, but it is not going to be that easy neither. We are going to be probably at these prices for a while, even after all the FED and stuff, it is going to stay here, and then we are going to end up with going up eventually.

This much is clear for me, maybe some people can argue against that, maybe they will try to do something else, but for me, the best thing about the current situation is that we are not going to drop that much, not to 20k, because that would mean a lot of people going out, and I am not seeing that right now.

[BITCOIN4X]

Even Bitcoin is still raging around $30K, but the sentiments are keep extremely fear for a month. [1] If Bitcoin will dropped to $20K-$23K it will create a short term panic just like the previous bottom how Bitcoin was hit $3K due to panic. At the same time, those people who bought it are the most lucky and smart person since Bitcoin never hit $3K again. There's no altcoins or new currency can compete Bitcoin until now, there's no way Bitcoin will dead and obviously it will recovered and stay again on $50K.

[1] https://alternative.me/crypto/fear-and-greed-index/

How can you be so sure to say bitcoin will not die and be replaced by another coin in the future if something really bad happens to bitcoin? Even I believe satoshi himself cannot guarantee bitcoin will never fail in the future because he knows that currency failures have happened before.

We can only think of something realistic without ignoring the potential for good and bad in the future. It is a highly volatile currency, so there is risk involved although there is the potential for profit to trade and invest in it. $20K or $23K is something that is possible for bitcoin as we have fallen more than 85% in the past, but of course we might expect something different to happen this time around with bitcoin where the drop won't be much lower than $20K .

[Nrcewker]

My gut says there will be a flash down to $20k to mop up all the shorts and then a steep rise to leave all the weak hands behind. But then again this is Bitcoin.

This can happen in the rarest scenario.
I highly doubt that Bitcoins will fall below 25k usd.
I mean from the past 4-5 weeks , Bitcoin is struggling in 29k usd phase, if it want to go till 20K usd, then it won’t stick to 29k usd for so many days.
Moreover regarding the increase in price, then I must say it won’t happen any sooner.
Now we are in a bear market, and as the trend says we need to wait more 6 weeks to see any movement.
Hope everything happens in favour of everyone.
I am also waiting for Bitcoins to rise.

[ethereumhunter]

How can you say that people will not panic if they see the bitcoin price crashing to 20,000$ and below? It will be an extreme panic situation and people will sell their holdings. Only the old investors will stay strong during this time as they have been in this situation before. It would be almost impossible for the new investors to stay strong in these bearish times.

People who have been familiar with bitcoin for a long time tend to be patient and try to use the moments of panic experienced by others to buy bitcoins that they sell at low prices. Old investors will also use the moment for their own benefit but new investors will experience panic, especially those not used to dealing with the falling price of bitcoin. So if you have experienced a downtrend, you will not panic and I think you will try to buy bitcoin at a low price.

[Lucius]

Seems that there is some large bidder who is constantly buying Bitcoin. Look at the BTCUSDLONGS on Bitfinex. The whales are all buying.

I’m not one to follow things like that, but when the price ranges from $29k to $32k for weeks, it seems logical that some whales make a fair profit by keeping the price in that range. Changes in the price of 5-10% do not seem significant for small investors, but for someone who has hundreds or thousands of BTC and is skilled in trading, such periods certainly bring good profits.

It’s possible we might see those figures however a lot depends on how the fed plays into fighting inflation which is spiraling out of control.

We know that the FED has already raised interest rates, and will continue to do so in the coming months, but if I'm not mistaken, the European Central Bank will soon do the same after 10+ years, indicating that it will do the same as the FED on several occasions. This increase will particularly affect some countries within the EU that are already in big trouble at the moment. How much this will affect the price of BTC remains to be seen.

[arufox]

It is possible that the bitcoin price scenario will drop to the $20k-$23k area which is likely to occur in the next few weeks, especially until now bitcoin has not been able to lift its price back, where currently the bitcoin price is traded in the $28k-29k area.

[Oasisman]

It is possible that the bitcoin price scenario will drop to the $20k-$23k area which is likely to occur in the next few weeks, especially until now bitcoin has not been able to lift its price back, where currently the bitcoin price is traded in the $28k-29k area.

And what is your fundamental explanation why Bitcoin drops down to that level in a few weeks? Coz what I'm seeing is the continued buying and selling that causes Bitcoin price to stay within the 28k-$30k region. Though there is always a possibility as nobody can predict accurately, but looking at the price actions and market sentiments currently, I don't think it would fall below that level as soon as the coming weeks.
 

[Ultegra134]

I would say that it is quite unlikely for us to drop there, even with a huge fiscal responsibility movement from all around the world. Don't get me wrong, it is not impossible, but it is not going to be that easy neither. We are going to be probably at these prices for a while, even after all the FED and stuff, it is going to stay here, and then we are going to end up with going up eventually.

This much is clear for me, maybe some people can argue against that, maybe they will try to do something else, but for me, the best thing about the current situation is that we are not going to drop that much, not to 20k, because that would mean a lot of people going out, and I am not seeing that right now.

The market currently crashing, with Bitcoin recording a 3.90% decline at $28.500 and Ethereum surpassing a 10% decline and trending at $1.550 as we speak. Judging by the price charts, it's easy to say that a further drop is certain and the $25.000 target starts sounding more realistic and probably for the next few days.

It’s hard to say. Today and yesterday were pretty bad days for the stock market. Ethereum also had a bad day breaking the yearly low. Bitcoin however seems to be doing pretty good relative to both.

Seems that there is some large bidder who is constantly buying Bitcoin. Look at the BTCUSDLONGS on Bitfinex. The whales are all buying.

It’s possible we might see those figures however a lot depends on how the fed plays into fighting inflation which is spiraling out of control.

Ethereum is currently facing a massive crash in the past 24 hours, trending at price levels of 2021. Certainly, quite a few whales could be buying to take advantage of the lower prices.

[Oceat]

It is possible that the bitcoin price scenario will drop to the $20k-$23k area which is likely to occur in the next few weeks, especially until now bitcoin has not been able to lift its price back, where currently the bitcoin price is traded in the $28k-29k area.

And what is your fundamental explanation why Bitcoin drops down to that level in a few weeks? Coz what I'm seeing is the continued buying and selling that causes Bitcoin price to stay within the 28k-$30k region. Though there is always a possibility as nobody can predict accurately, but looking at the price actions and market sentiments currently, I don't think it would fall below that level as soon as the coming weeks.
 

Well, it's been so long since the bear market started so there's a possibility that it might fall for that price soon although, no one knows when it would happen but I am certain that it will go at that level soon. What we could just do is to follow most of the prediction and expect it will happen since we can't control the outcome no matter what we do.

And looking at how the price slowly dropping that it almost hit $27k is really a proof that it's most likely going to drop at that price. It just needs a single FUD and you can expect that a dump will certainly go straight to that price.

[Beparanf]

I like the TA and this the actual graph I'm looking at as basis of my crypto holdings. The timing of inflation news to US very crucial to the Bitcoin unstable condition. This bad news will worsen the situation and might fuel the bears to get the control once again. I'm expecting to see 22500$ until next week if we close the weekly cande red once again. We might experience the long crypto winter if the global economy didn't get better. 

[Wilhelm]

It is possible that the bitcoin price scenario will drop to the $20k-$23k area which is likely to occur in the next few weeks, especially until now bitcoin has not been able to lift its price back, where currently the bitcoin price is traded in the $28k-29k area.

And what is your fundamental explanation why Bitcoin drops down to that level in a few weeks? Coz what I'm seeing is the continued buying and selling that causes Bitcoin price to stay within the 28k-$30k region. Though there is always a possibility as nobody can predict accurately, but looking at the price actions and market sentiments currently, I don't think it would fall below that level as soon as the coming weeks.
 

Well, it's been so long since the bear market started so there's a possibility that it might fall for that price soon although, no one knows when it would happen but I am certain that it will go at that level soon. What we could just do is to follow most of the prediction and expect it will happen since we can't control the outcome no matter what we do.

And looking at how the price slowly dropping that it almost hit $27k is really a proof that it's most likely going to drop at that price. It just needs a single FUD and you can expect that a dump will certainly go straight to that price.

This kind of mentality will bite you in the backside. This is called weak hands.

The current sideways movement means there is a balance in market driving forces.
When you go from a bear market into a prolonged sideways movement that indicates the tide is changing.
It is also called the is the "accumulation" phase. Whales are playing the Market shaking out weak hands.
And when the tide has changed we will be in a bull market...

After being here for way too long I know that FUD is a great bullish indicator and FOMO is a bearish signal.

[LogitechMouse]

My gut says there will be a flash down to $20k to mop up all the shorts and then a steep rise to leave all the weak hands behind. But then again this is Bitcoin.

It can happen or it cannot. After all, we are all predicting, and we don't know what will happen in the future .
When Bitcoin is above $40,000, many are saying that it will be the psychological support. Now when Bitcoin went below it, many are saying again that Bitcoin's next psychological support is $30,000. Now it is happening again and analysts are saying that the next support where Bitcoin might fall down is $20,000. It looks like there is a trend here .

Well, I will not be surprised if this happens because after all, we are already in a downward trend since the start of the year and there is a chance that we might move either downward or sideways until the end of the year. I don't expect something good that will cause the market to pump will happen at least this year, though I will not be surprised if Bitcoin went on to another continuous upward movement.

[$crypto$]

Well, I will not be surprised if this happens because after all, we are already in a downward trend since the start of the year and there is a chance that we might move either downward or sideways until the end of the year. I don't expect something good that will cause the market to pump will happen at least this year, though I will not be surprised if Bitcoin went on to another continuous upward movement.

This possibility occurs because other scenarios also say Bitcoin will continue to fall even though it will rise first, there have been some big sentiments so far about the decline in the price of bitcoin including now it's back down again because there is news about Ethereum dropping by a dozen percent and it's being widely discussed, of course. this will at least have a slight effect on the value of bitcoin, and I will remain relaxed even though the price will face the next $20,000.

[GeorgeJohn]

Op really like your tone concerning the regulations of cryptocurrencies. Bothering much or been inquisitive of cryptocurrency acceleration is like someone who import goods and praying for it to reach its country. On my own i don't need to have tension on bitcoin because i know quite well that it will resurrect. It's obvious that people who is desperate for it especially investors are curious to ensure about Bitcoin price increases in order to make profit.

[Ultegra134]

Peter Schiff, an American stockbroker also tweeted about Bitcoin's possible crash at $20.000 and Ethereum's down to $1.000. I'm not sure if we should take such opinions into account, but some of them are certainly experienced analysts. Moreover, he's advising not to make any purchases during the dip, is he possibly implying a further drop? Who knows.

[Hamphser]

Peter Schiff, an American stockbroker also tweeted about Bitcoin's possible crash at $20.000 and Ethereum's down to $1.000. I'm not sure if we should take such opinions into account, but some of them are certainly experienced analysts. Moreover, he's advising not to make any purchases during the dip, is he possibly implying a further drop? Who knows.

Im not really that a fan on listening out others calls or analysis because each one of us could really be having their own speculations and predictions but the difference is that these people are knowledgeable on

investment or market movements but doesnt mean that they would really be that precise on where the prices could possibly go and whenever i do see some words came out from their mouths and telling that

we shouldn't buy something on this bear market then i do really saw the opposite thing of such decision. Who knows if we would be dropping low in 20k? IF ever that happens
then my funds is already to buy into those good points.

[Slow death]

well the price is in a dangerous zone, what if it drops to $20,000? it will not stop at $20,000, it will continue to fall much lower, that of thinking: "$20,000 to $23,000 is the bottom" I doubt it will reach $20,000 and not fall below that, on the contrary panic selling it will be higher in the 20,000$ zone because everyone will fear seeing $30,100 so they will start selling a lot if the price drops to $20,000 because the trauma of 2018 is still in people's heads, if the price manages to stay above 32000$ then we will be fine because it will accumulate in this zone of 32000$ and then it will go up a lot, but we cannot fall below 28000$

[STT]

some of them are certainly experienced analysts.

Schiff makes calls on macro economic factors vs fiscal budgets and so on.   I know him from the 2008 crisis and he called that beforehand but he isnt a tech guy and doesnt especially have a great insight into crypto.    Same way I'd describe the constant downvote from Buffet, why would I care about his opinion when he is so happy to back government debt while they undermine the common workers wages with non stop money printing year in and out; he doesnt care about wages he has assets & all players have bias even the 'greats'

[Ultegra134]

some of them are certainly experienced analysts.

Schiff makes calls on macro economic factors vs fiscal budgets and so on.   I know him from the 2008 crisis and he called that beforehand but he isnt a tech guy and doesnt especially have a great insight into crypto.    Same way I'd describe the constant downvote from Buffet, why would I care about his opinion when he is so happy to back government debt while they undermine the common workers wages with non stop money printing year in and out; he doesnt care about wages he has assets & all players have bias even the 'greats'

Moreover, many analysts are also against Bitcoin for a variety of reasons, thus, we shouldn't always take such analysis for granted, but in this scenario both analyst's predictions are correct so far, since we're slowly moving towards the $25.000 mark (Currently at ~27.500) and Ethereum currently trending at $1.450.

[kotajikikox]

Looking at the market now? it seems that we are on the direction in which you mentioned?

https://coinmarketcap.com/currencies/bitcoin/

the price of bitcoin now close to 26k and still lowering , is this the sign of the new lowest value for this year 2022?

or is there any chance that it will not fall below 25k?