Bitcoin scenario crashing to $20.000 - $23.000

[bitterguy28]

there is 1000 dollars away before 23k reached and this is the movement now

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

 the sign of drowning is here , as the price is now drops to 24,600 USD ,  I think we are in the next phase of bear market , as the world is now experiencing this economic problem and  even crypto market will not safe into this.

[Baofeng]

there is 1000 dollars away before 23k reached and this is the movement now

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

 the sign of drowning is here , as the price is now drops to 24,600 USD ,  I think we are in the next phase of bear market , as the world is now experiencing this economic problem and  even crypto market will not safe into this.

Yes, we are about to reach $23k, and it really doesn't look good, but we can't do anything for now but let this flow happened. And I think we have established lowest lows already, and as all cryptos are down -10% or more. I think the major reason for this meltdown is the Feds on rate hikes and the economy in general.

https://www.cnbc.com/2022/06/10/fed-will-raise-raise-rates-next-week-but-powell-may-matter-most.html

I can't blame those who are in a panic right now and choosing to get out and maybe be back later strategy. So let's see how dip this flash crash is.

[Woodie]

Bitcoin has always posed to be bearish ever since it failed to get over $70k and now seeing $20k really sends shivers to anybody hodling onto some big bags, but what's really shaking price to be in the downward trend for this long...are whales selling off, could regulation be the culprit here...

[Sir Legend]

Didn't expect, when i woke up and checked the assets it turned out that i lost more than 10%, sorry for not selling when the bitcoin price was $30k, today bitcoin dropped below $25k and became a record low in over a year, hope it doesn't drop below $20k .

[Ultegra134]

Well, that was fast, all this occurred while I was asleep. Honestly, I truly believed that the prediction would turn out true, however, I never expected that it'd   go that way so quick. Bitcoin is currently sitting at $24.000 as we speak and Ethereum at $1.200, both just hanging above the 24 hour lowest point. By the looks of it, both are going to crash even further. On the one hand, I don't mind since I'm receiving a higher amount in Bitcoin, but on the other, it's kind of sad to see the market in such a state.



Screenshot from CMC's live chat. I'd opt for option A.

[fzkto]

Honestly, I don't understand what news caused bitcoin to collapse so much today. I woke up today like everyone else and was very disappointed with what happened. But judging by such a big momentum we could really see 20k soon, when Asia and America come into play, maybe even panic selling will happen.

[arwin100]

Honestly, I don't understand what news caused bitcoin to collapse so much today. I woke up today like everyone else and was very disappointed with what happened. But judging by such a big momentum we could really see 20k soon, when Asia and America come into play, maybe even panic selling will happen.

This indicate that the crypto market is so unpredictable and even if there's no news we can still see the market fall, also provably this collapsed is due to another series of people get panic on situations like this and this is what whales like because from this they can start to accumulate more cheap bitcoins. Maybe those worse figures might came because we don't have good positive news that can lift bitcoin at this moment.

[stadus]

Honestly, I don't understand what news caused bitcoin to collapse so much today. I woke up today like everyone else and was very disappointed with what happened. But judging by such a big momentum we could really see 20k soon, when Asia and America come into play, maybe even panic selling will happen.

According to https://www.cnbc.com/2022/06/13/bitcoin-btc-falls-as-market-focuses-on-celsius-issue-fed-rate-hike.html

These are the key points.

Bitcoin tumbled below $24,000 late on Monday, hitting its lowest level since December 2020, as investors dump crypto amid a broader sell-off in risk assets.

Meanwhile, a crypto lending company called Celsius has paused withdrawals for its customers, sparking fears of contagion into the broader market.

Macro factors are contributing to the bearishness in the crypto markets, with rampant inflation continuing and the Federal Reserve expected to hike interest rates this week to control rising prices.

These are just some of the reasons but in totality, the market is already in the bearish mode so we can expect that it will dump big time, and I will not surprised if it will dump below $20k.

[ethereumhunter]

I wonder how low this price will be as we have already reached $23k and the price is still not showing to go up. If this situation continues, I am afraid we will see another low price which can make people panic and lose confidence in holding their bitcoin, as many of them already bought bitcoin at $30k. But if more support comes to bitcoin, the price will not go down and can hold the price and even lift the price back to the high price. Meanwhile, we can wait a while and see what and where the price will bounce up.

[Tony116]

I wonder how low this price will be as we have already reached $23k and the price is still not showing to go up. If this situation continues, I am afraid we will see another low price which can make people panic and lose confidence in holding their bitcoin, as many of them already bought bitcoin at $30k. But if more support comes to bitcoin, the price will not go down and can hold the price and even lift the price back to the high price. Meanwhile, we can wait a while and see what and where the price will bounce up.

I was also quite surprised after waking up and checking the market, the bitcoin price plummeted today. With the current situation there is no news that can pull bitcoin back, June 15 with the goal of reducing inflation will certainly continue to increase interest rates and volatile assets like bitcoin will continue to confront selling panic in the market. Selling pressure is huge, I hope people will have diamond hands now instead of panic selling, 1 BTC = 1 BTC if we haven't sold yet.

[Kopetunto]

Bitcoin has entered a price bottom, 23k has been reached today, and indeed there is a chance for it to go much lower,
for example $20k, but I believe it can happen due to panic selling and big liquidation on the exchange,
of course there will be a Wick on the chart, no can be sure, but we have to be careful

[Ultegra134]

I wonder how low this price will be as we have already reached $23k and the price is still not showing to go up. If this situation continues, I am afraid we will see another low price which can make people panic and lose confidence in holding their bitcoin, as many of them already bought bitcoin at $30k. But if more support comes to bitcoin, the price will not go down and can hold the price and even lift the price back to the high price. Meanwhile, we can wait a while and see what and where the price will bounce up.

I was also quite surprised after waking up and checking the market, the bitcoin price plummeted today. With the current situation there is no news that can pull bitcoin back, June 15 with the goal of reducing inflation will certainly continue to increase interest rates and volatile assets like bitcoin will continue to confront selling panic in the market. Selling pressure is huge, I hope people will have diamond hands now instead of panic selling, 1 BTC = 1 BTC if we haven't sold yet.

Eventually we'll have to sell, thus this argument is kind of invalid, because your assets/portfolio are losing in value. Unfortunately, it looks like there won't be a recovery anytime soon. My guess is that Bitcoin will he stale for at least a year before any recovery is made, like it happened in 2017's crash, 3 years passed for Bitcoin to recover.

I wouldn't be surprised if that's the case in our current situation.

[uneng]

The more bitcoin is concentrated in few hands, the less efficient it will be against economical crisis scenarios, market manipulation and high volatility. The issue is that there is small groups of whales who play with prices and control which paths the market is going to follow. And although whales invest in bitcoin, they aren't bitcoin adopters for real, rather they are profit seekers at all costs, what means they don't bother destroying one thing and harming a whole ecosystem to benefit themselves temporarily in another trend (that is currently US dollar) until they also drain everything they can from this and jump into a new trend.

But it's in crashing times like this common investors have the opportunity to decrease the whales' dominance by purchasing the bitcoins dropped on the market. Compared to previous years I believe whales are more organized and acting coordinated, but in return whales' dominance is thankfully decreasing as the time goes on.

[Saint-loup]

George Savakis, with the help of the analyst Dimitris Tsantoy, a member of Elliot Wave trader community, are predicting a correction down to $20.000 - $23.000, while claiming that as long as Bitcoin is below $35.000, it's extremely unlikely to see a market recovery.

I thought Greek was the language of logic like a member of the greek government recently told to the turkish president but I don't understand how BTC could reach $35 000 if it can't recover as long as it remains below that level. BTC is currently below $23 500, it would mean it will stay at this level without any chance to rise again. But a volatile asset could always pump in the same way it has dumped, that's why it's called volatile.

[Fatunad]

Well, that was fast, all this occurred while I was asleep. Honestly, I truly believed that the prediction would turn out true, however, I never expected that it'd   go that way so quick. Bitcoin is currently sitting at $24.000 as we speak and Ethereum at $1.200, both just hanging above the 24 hour lowest point. By the looks of it, both are going to crash even further. On the one hand, I don't mind since I'm receiving a higher amount in Bitcoin, but on the other, it's kind of sad to see the market in such a state.



Screenshot from CMC's live chat. I'd opt for option A.

I would go for A too but for sure there are people who are freaking out and choosing that D.   We are crashing now but is this the first time? No. If you've been here on this market for years then these things
arent something new and you are already get used to it and do knows on how to utilize these movements for your advantage.
Cant really blame out for someone to have those impulsive reaction specially for noobs but once they do get the right idea and awareness then
they wont easily be that too reacting in times like this.

[snipie]

Today I was surprised when I opened a trust wallet and saw the market drop of more than 10%, even when I noticed the price of bitcoin was almost dropped below $ 25k even though it was currently rising again to around $ 25,500, the Bitcoin scenario to drop down $ 25k was certainly very large so that I put up a buying price of $ 23K in spot exchanges.

I am quite worried when I saw the price today. We didn't witness this deep since years...
I am still optimistic about Bitcoin and a believer that it is undervalued but such a crash since months is sad. Hopefully this will be resolved soon and it get back to +$40k

[ultrloa]

Today I was surprised when I opened a trust wallet and saw the market drop of more than 10%, even when I noticed the price of bitcoin was almost dropped below $ 25k even though it was currently rising again to around $ 25,500, the Bitcoin scenario to drop down $ 25k was certainly very large so that I put up a buying price of $ 23K in spot exchanges.

I am quite worried when I saw the price today. We didn't witness this deep since years...
I am still optimistic about Bitcoin and a believer that it is undervalued but such a crash since months is sad. Hopefully this will be resolved soon and it get back to +$40k

All of us worried about the situation happen recently since we don't have any reasons why bitcoin drop this rate and besides the recovery is slowly happening last couple of weeks. But for this thing happened I'm preparing my stash and want to buy some bitcoin then alts to knowing that we didn't go deep at this current rate so maybe let see if we can earn by this since as of now many people are dumping because they are trying to minimize their losses at this level.

[ethereumhunter]

I wonder how low this price will be as we have already reached $23k and the price is still not showing to go up. If this situation continues, I am afraid we will see another low price which can make people panic and lose confidence in holding their bitcoin, as many of them already bought bitcoin at $30k. But if more support comes to bitcoin, the price will not go down and can hold the price and even lift the price back to the high price. Meanwhile, we can wait a while and see what and where the price will bounce up.

I was also quite surprised after waking up and checking the market, the bitcoin price plummeted today. With the current situation there is no news that can pull bitcoin back, June 15 with the goal of reducing inflation will certainly continue to increase interest rates and volatile assets like bitcoin will continue to confront selling panic in the market. Selling pressure is huge, I hope people will have diamond hands now instead of panic selling, 1 BTC = 1 BTC if we haven't sold yet.

The current bitcoin price has fallen again to $22k after a few hours ago at the level of $23k. That's why I'm thinking to what extent the price is still going down and it looks like we will see the price going back to the bottom before yesterday's ATH. This is a tough test for those who bought bitcoins at yesterday's highs because some have already sold their bitcoins at previous price levels. Let's just hope people don't panic and sell more bitcoins as the price drops drastically. But I still believe bitcoin will go higher than yesterday's ATH after this bloody drama.

[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?

We've lost 28K. Current market condition quite uncertainty, and anything could happen. Bitcoin market moving around 27-30k, and perfect opportunity for arbitrage trader. Bitcoin falls roar $28,000 and down practically 6% to $27,270 as of now. I see lot of technical analytics are taking about if we lose 25K we're heading to under 20k. Here, I'm holding up fro affirmation.

Yes it is and the market shows it now https://coinmarketcap.com/currencies/bitcoin/ now at 21,600$ value? so what more it can fall ? maybe at least 18k? if the price drops below 20k then I am sure that 18k is the lowest and then will spike up till the end of 2022.

Lets not look at negative on this part guys , instead lets find what is the chance to profit from this and that is to purchase more when in dip.

[Reatim]

maybe they are against bitcoin at the moment to spike up, because obviously the market is dumping now and indeed we are in the bearish market .
and obvious that we are on the verge of dumping more from what we can see on this part .
20k? i am waiting for this now because my mid year bonus has been released and I am wanting to fund all this for Bitcoin so hope you will see this lowering like what market is showing now.

I have to say even 27k was a shock to me because it looked like we were getting a lot more accumulation, and that means that the more people start to collect up, the less there will be available in the market. Whatever is the liquidity in the market, is the decisive factor in the price movement.

So what more now mate that the price drops down to 21k? so you are more shocked and cannot believe in your eyes?

But that is the reality now mate and we have nothing to do but to wait the increase and never take part of the dumping by holding our coins.

When there are plenty available, that means we are seeing a ton of people willing to sell for a certain amount, but when it is not a lot, when it is a lot less, that means people are willing to hold and right now we are there. Doesn't mean it can't drop, like we have seen now it did, because some people may cash out, big amounts, but I believe it is still not an usual move.

It did mate,  the drops happened already and looks like there are so much participation from the community so the price really fell hard.