Bitcoin scenario crashing to $20.000 - $23.000

[Mpamaegbu]

~snipped

I think what he said finally happened today with Bitcoin touching $20,850 a few hours ago, though total marketcap still stands at over $987 billion. Unless there's more doom to come, I don't see price falling below $900 billion. Whichever one it's anyway, I'm not perturbed at all. In fact, if anything, I want price to crash more so I can get in cheaper and buy some of my targeted altcoins. Why should I be scared when I know, of course, that's just a matter of time before the market returns to bull way. Howbeit, whoever that's looking to buy Bitcoin cheap should see now as that elusive opportunity they sought a few months ago but never had.

[1714848960]

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[1714848960]

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[Ultegra134]

~snipped

I think what he said finally happened today with Bitcoin touching $20,850 a few hours ago, though total marketcap still stands at over $987 billion. Unless there's more doom to come, I don't see price falling below $900 billion. Whichever one it's anyway, I'm not perturbed at all. In fact, if anything, I want price to crash more so I can get in cheaper and buy some of my targeted altcoins. Why should I be scared when I know, of course, that's just a matter of time before the market returns to bull way. Howbeit, whoever that's looking to buy Bitcoin cheap should see now as that elusive opportunity they sought a few months ago but never had.

There's a slight recovery for Bitcoin since morning, where it crashed down to $20.950 and is now trending back at $22.000. To be honest, I don't believe that the prediction is over yet and chances are that it's going to go below $20.000 the next upcoming days, the resistance isn't strong enough to keep it over $20.000. I hope I'm proven wrong, but we'll see how it progresses.

[Rufsilf]

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.

But you did...
I was thinking that no more $20k and below. Despite the current market crash, I was still thinking we can make it stabilize above the line ($20k). The US inflation has somehow given a huge influence on the market causing this tragic downfall that makes some investors got to panic and start selling off their Bitcoin. We just hope this will be the last drop it shows, otherwise, the market will get shaken again like the last bear season.



we got some spike, that seems a big hope for becoming better.

[19Nov16]

The scenario has occurred, the current price is $ 22K, maybe the next scenario is whether the price will continue to drop up to below $ 20K? If this happens, of course, making a large storm and panic will occur again so that it will make a sharp correction, the best thing is hold and be patient.

[$crypto$]

~snipped

I think what he said finally happened today with Bitcoin touching $20,850 a few hours ago, though total marketcap still stands at over $987 billion. Unless there's more doom to come, I don't see price falling below $900 billion. Whichever one it's anyway, I'm not perturbed at all. In fact, if anything, I want price to crash more so I can get in cheaper and buy some of my targeted altcoins. Why should I be scared when I know, of course, that's just a matter of time before the market returns to bull way. Howbeit, whoever that's looking to buy Bitcoin cheap should see now as that elusive opportunity they sought a few months ago but never had.

There's a slight recovery for Bitcoin since morning, where it crashed down to $20.950 and is now trending back at $22.000. To be honest, I don't believe that the prediction is over yet and chances are that it's going to go below $20.000 the next upcoming days, the resistance isn't strong enough to keep it over $20.000. I hope I'm proven wrong, but we'll see how it progresses.

Of course, this will be a big fluctuation where the market is still volatile. During this slight recovery, it will decline slightly because I believe the bear market has not yet ended.
This is already a year low in which this scenario will still crash below $20k but I still hope this doesn't prolong a bit of recovery in the days ahead enough to calm us down despite the fear of another big crash.

[tygeade]

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.

We all were, I really didn't expected it to drop like this, don't get me wrong it is not unnatural for bitcoin to drop, it happens all the time and this is just another one of those times, but it wasn't expected neither. I would say that it is going to be okay, I can't give any guarantee or anything, but by the looks of things I can say that it is not going to be that much of a shock neither, it should be quite alright.

By this time in a month or two, we could be very well above 40k, not saying we will, but since bitcoin is volatile enough to drop like this, we all know that it is also quite volatile enough to go up very fast when needed be as well.

[ShowOff]

I think what he said finally happened today with Bitcoin touching $20,850 a few hours ago, though total marketcap still stands at over $987 billion. Unless there's more doom to come, I don't see price falling below $900 billion. Whichever one it's anyway, I'm not perturbed at all. In fact, if anything, I want price to crash more so I can get in cheaper and buy some of my targeted altcoins. Why should I be scared when I know, of course, that's just a matter of time before the market returns to bull way. Howbeit, whoever that's looking to buy Bitcoin cheap should see now as that elusive opportunity they sought a few months ago but never had.

Was it all a coincidence? But maybe not, we have been in a bear market for the last few months so here are the consequences.
I may think the same as those of you who wanted the price of bitcoin to drop much lower to accumulate it, but today $20.8K is a low that may be abandoned soon or could become resistance if the decline continues. I'm just worried we're not going down again, so we have to be positive now.

[Shasha80]

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.

We all were, I really didn't expected it to drop like this, don't get me wrong it is not unnatural for bitcoin to drop, it happens all the time and this is just another one of those times, but it wasn't expected neither. I would say that it is going to be okay, I can't give any guarantee or anything, but by the looks of things I can say that it is not going to be that much of a shock neither, it should be quite alright.

By this time in a month or two, we could be very well above 40k, not saying we will, but since bitcoin is volatile enough to drop like this, we all know that it is also quite volatile enough to go up very fast when needed be as well.

Since we're not fortune-tellers, we'd certainly be surprised Bitcoin could drop this deep. After all, the movement of the crypto market is very volatile,
so it is only natural for Bitcoin to suddenly fall quite deep. But I believe those of us who have been in the crypto world for a long time know how
Bitcoin works, sudden drops like this have happened before. So maybe at first we will be surprised, but we will be able to accept it and know what
to do to deal with a bear market like now. For sure Bitcoin is the best crypto coin, so everything will be fine as long as we don't sell our Bitcoins
at low prices. We have to be patient holding the Bitcoins we have in the current situation and remain optimistic that the Bitcoin price will soon recover.
Because we already know Bitcoin can always recover even though it has experienced a very deep.

[GeorgeJohn]

Bitcoin did not crash from the beginning, their is different between bitcoin going down and bitcoin crashed. The two English words have different meanings. From my perspective when you said Bitcoin crashed that means the technology of bitcoin has been eliminated but when you said bitcoin decreased that means the price has stabilize in the market, so their is every tendency that the price will accelerate anytime soon.

[niceli]

We need to realize that its not that common or easy for crypto to be like this, it takes time and effort to make it this low. I am not saying that its going to be easy to recoup, but I believe since we are so low already, I believe that it would be hard to go down even harder, this looks like a proper place to stay and not go down too much. At the very least, we should be focusing on why we dropped, so that we could recover a bit better and do a lot better in the long run. If we can avoid the same reasons in the future, then it would be hard for crypto to drop like this again, and we will protect ourselves from these drops for the same reasons.

[n0ne]

Bitcoin did not crash from the beginning, their is different between bitcoin going down and bitcoin crashed. The two English words have different meanings. From my perspective when you said Bitcoin crashed that means the technology of bitcoin has been eliminated but when you said bitcoin decreased that means the price has stabilize in the market, so their is every tendency that the price will accelerate anytime soon.

As you've mentioned the price have crashed. The network is strong which is the success of bitcoin against other cryptocurrencies reaching the market. The market is uncertain, so we can expect bounce back anytime soon. For now market is experiencing the bull market, which is purely connected to the factors surrounding it. In particular the market have now well connected to the global market which is also a reason for the ongoing market decline. This time we can expect slow progress in the market.

[snipie]

Bitcoin did not crash from the beginning, their is different between bitcoin going down and bitcoin crashed. The two English words have different meanings. From my perspective when you said Bitcoin crashed that means the technology of bitcoin has been eliminated but when you said bitcoin decreased that means the price has stabilize in the market, so their is every tendency that the price will accelerate anytime soon.

People tend to call a crash when the price go down too much suddenly without a clear sign for recovery at least in short term.
The economy in most countries is taking a hit after the covid-19 pandemic and the Ukrainian war. Inflation is slowing down everything.. That might explain partially what's happening but there is a huge volume of bitcoin bought for +$60k, 50k, 40k and 30k. These investors took a huge loss in the short run. In the medium / long term, the price will recover most likely but who knows when!

[Ultegra134]

And way down we go, we're steps away from going below $20.000 (Bitcoin currently trending at $20.230 as we speak) while Ethereum at $1.030. As I've mentioned earlier, we haven't seen the worst yet, and it's bound to crash even further. In my opinion, the following winter will be a hard one, inflation has skyrocketed, the war isn't coming to an end while fuel and electricity will cost a fortune. On top of that, the cryptocurrency market is likely to follow trends of the 2017's crash for many months to come, if not years.

[fzkto]

And way down we go, we're steps away from going below $20.000 (Bitcoin currently trending at $20.230 as we speak) while Ethereum at $1.030. As I've mentioned earlier, we haven't seen the worst yet, and it's bound to crash even further. In my opinion, the following winter will be a hard one, inflation has skyrocketed, the war isn't coming to an end while fuel and electricity will cost a fortune. On top of that, the cryptocurrency market is likely to follow trends of the 2017's crash for many months to come, if not years.

I'm not sure if the recovery will take a year or a few years. It is more likely that in a few years there will be another big drop after the recovery (not necessarily that ATH will be reached). Big drops were in 2018, 2020 and now 2022. Also note that after such falls there was always an immediate recovery process.

[btc_angela]

And way down we go, we're steps away from going below $20.000 (Bitcoin currently trending at $20.230 as we speak) while Ethereum at $1.030. As I've mentioned earlier, we haven't seen the worst yet, and it's bound to crash even further. In my opinion, the following winter will be a hard one, inflation has skyrocketed, the war isn't coming to an end while fuel and electricity will cost a fortune. On top of that, the cryptocurrency market is likely to follow trends of the 2017's crash for many months to come, if not years.

And it's $20,580, we thought that the downtrend is over as we are bouncing around 21k-$22k. But another set of sellers pulling the price into the support line of $20k. Still hard to interpret though, the sentiments is still negative and so who knows, maybe in the next 24 hours, the price will go hard again and then that support line is broken, pulling the price to the next resistance of $18k. As for the recovery, it will take months or years if we are going out of this worst bear market we have seen, worst than 2018 if I'm not mistaken.

[Silberman]

And way down we go, we're steps away from going below $20.000 (Bitcoin currently trending at $20.230 as we speak) while Ethereum at $1.030. As I've mentioned earlier, we haven't seen the worst yet, and it's bound to crash even further. In my opinion, the following winter will be a hard one, inflation has skyrocketed, the war isn't coming to an end while fuel and electricity will cost a fortune. On top of that, the cryptocurrency market is likely to follow trends of the 2017's crash for many months to come, if not years.

And it's $20,580, we thought that the downtrend is over as we are bouncing around 21k-$22k. But another set of sellers pulling the price into the support line of $20k. Still hard to interpret though, the sentiments is still negative and so who knows, maybe in the next 24 hours, the price will go hard again and then that support line is broken, pulling the price to the next resistance of $18k. As for the recovery, it will take months or years if we are going out of this worst bear market we have seen, worst than 2018 if I'm not mistaken.

The definition of worst will depend on how you look at this, in terms of the money lost by the markets and the traders without a doubt this is the worst bear market that we have ever seen simply because now the market is way bigger than what it was, however in terms of the percentage drop the bear market of 2018 is still far worse than what we are seeing right now, obviously this bear market is not over and anything can happen so we cannot really assess things until this bear market is completely over and we can compare the two.

[Semar Mesem]

I didn't expect that the post made 5 days ago when the price was still around $29k turned out to be true, the current price is around $21k, of course it's interesting to know the next price, and I hope to rise again soon and reach at least $30k and in july can reach at least $35 k.

[Vaculin]

Hello there,
I'm not the kind of guy who bothers about its price and any predictions that pop-up, because I haven't let the downtrend affect me. I'm planning to accumulate as much Bitcoin as I can and hold it for a long period. However, an article was trending on my news feed and decided to check it out. According to the article, Bitcoin was supposedly capable of avoiding inflation, although, it seems to have been severely affected by it. The change in risk appetite, the tightening of monetary policies and the withdrawal of liquidity from the markets and, finally, the rapid rise in inflation show that the cryptocurrency market has been severely impacted.



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.

Source: https://www.euro2day.gr/investments/crypto/article/2136805/h-tehnikh-analysh-deihnei-nea-ptosh-toy-bitcoin-to.html


Translated to English:
https://www-euro2day-gr.translate.goog/investments/crypto/article/2136805/h-tehnikh-analysh-deihnei-nea-ptosh-toy-bitcoin-to.html?_x_tr_sl=en&_x_tr_tl=el&_x_tr_hl=el&_x_tr_pto=wapp

I think this is happening now, bitcoin has crashed down to$21k and there's always a possibility that bitcoin could even go below that, which means the market recovery is too far to be possible. Instead, we are seeing the whole crypto market is in winter, and the only thing to survive is to keep buying and hodling. And those who resort into panic selling will certainly lose a lot especially if they bought bitcoin when it was its $35k-$40k price range.

[dataispower]

I didn't expect that the post made 5 days ago when the price was still around $29k turned out to be true, the current price is around $21k, of course it's interesting to know the next price, and I hope to rise again soon and reach at least $30k and in july can reach at least $35 k.

bitcoin price is rotational and irrational so if the price downgrade from 29000 thousand for 21,000 that is to show that the price r is not constant and that is how it will be when the price is rising because you might expect the price of Bitcoin to increase by 10% different and the price increase by 20% different so the movement of cryptocurrency generally is not something that is predictable or something that is fixed to a particular price or amount so that is why when Bitcoin price falls and people that know heat regulation does not panic for it's value for a moment

[jaberwock]

And it's $20,580, we thought that the downtrend is over as we are bouncing around 21k-$22k. But another set of sellers pulling the price into the support line of $20k. Still hard to interpret though, the sentiments is still negative and so who knows, maybe in the next 24 hours, the price will go hard again and then that support line is broken, pulling the price to the next resistance of $18k. As for the recovery, it will take months or years if we are going out of this worst bear market we have seen, worst than 2018 if I'm not mistaken.

We believed that when the price moved between 28k to 31k as well. Anytime it went from 28k to 31k we believed that the bear market was over and we would go high, then it went back to 28k and we kept on waiting and then it went back to 31k and we believed the same thing again. This repeated maybe like 5 times if I am not wrong.

So this time around, there is no luna, no new fed deal, nothing that should have made it go down at all. It just... happened. So, we need to ask ourselves, maybe we are in crypto winter, bear market, or whatever else you want to call it and there is no outside thing required to keep us going down, and there doesn't seem to be a reason to go up?