Bitcoin scenario crashing to $20.000 - $23.000

[jaberwock]

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.

The reasons for the decline in Bitcoin prices are varied, but one of the factors that caused the price of bitcoin to drop to as low as $20k-$23k was due to the strengthening dollar and the deepening pressure on the crypto market amid the monetary tightening of the central bank. Bitcoin is currently under intense selling pressure where the bitcoin price is currently at the psychological $23k mark.

It wasn't actually dollar getting more "strength" but more like withdrawn from the markets. I mean the money is still there and as soon as the rates go down again, or people make more money some other way, that money will be back on the market. They didn't make it vanish, they just stored it on their banks and that's it. This is why I highly doubt that it would make any sense for people to go big on dollar anytime soon.

On top of that, most of the banks that now offer more money, do not make that because stock market crashed and that is where main income came from. Hence, I think it is quite understandable for everyone to not make a mistake about crypto right now, and buy into it.

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[StreakW]

Currently the price of bitcoin is experiencing a slight increase in price, where the price has returned to touch $23k after a few months ago the price of bitcoin fell to touch the level of $17k which resulted in the price of bitcoin experiencing sideways. Therefore, let's see if the current price still has the potential to bounce down like before, or whether it manages to rise up. Hopefully the market recovery will return as expected.

[Chainsmokers]

Currently the price of bitcoin is experiencing a slight increase in price, where the price has returned to touch $23k after a few months ago the price of bitcoin fell to touch the level of $17k which resulted in the price of bitcoin experiencing sideways. Therefore, let's see if the current price still has the potential to bounce down like before, or whether it manages to rise up. Hopefully the market recovery will return as expected.

Bitcoin is still under $30k in my opinion, it's still very risky to be under $20k again, because some time ago Bitcoin also reached $18k,
of course this is a sign that the price is still very weak, especially now that the war between China and Taiwan is heating up,
and interest rates are going up, yes the market is volatile and better wait.

[jostorres]

Currently the price of bitcoin is experiencing a slight increase in price, where the price has returned to touch $23k after a few months ago the price of bitcoin fell to touch the level of $17k which resulted in the price of bitcoin experiencing sideways. Therefore, let's see if the current price still has the potential to bounce down like before, or whether it manages to rise up. Hopefully the market recovery will return as expected.

Bitcoin is still under $30k in my opinion, it's still very risky to be under $20k again, because some time ago Bitcoin also reached $18k,
of course this is a sign that the price is still very weak, especially now that the war between China and Taiwan is heating up,
and interest rates are going up, yes the market is volatile and better wait.

It's really not "risky" if you know what you are doing. I am fine with bitcoin being under 20k again because that means I get to buy more bitcoin at a cheaper price and I would be happy about it. That's what the real bitcoin long term investor thinks, if it goes up then it's great, we all would make profit, if it goes down then that's great too because we could all buy some more and then profit even bigger later on.

There is no loss in bitcoin as long as you are not willing to sell and in order to do that you have to believe it, many people did in the past and they are in big profits, and if you are not sure if we will survive the current situation, then you do not know much about bitcoin.

[Jating]

Currently the price of bitcoin is experiencing a slight increase in price, where the price has returned to touch $23k after a few months ago the price of bitcoin fell to touch the level of $17k which resulted in the price of bitcoin experiencing sideways. Therefore, let's see if the current price still has the potential to bounce down like before, or whether it manages to rise up. Hopefully the market recovery will return as expected.

Bitcoin is still under $30k in my opinion, it's still very risky to be under $20k again, because some time ago Bitcoin also reached $18k,
of course this is a sign that the price is still very weak, especially now that the war between China and Taiwan is heating up,
and interest rates are going up, yes the market is volatile and better wait.

What do you mean risky? if you are going to purchase when the price goes under $20k, invest and hold then where is the risk there? bitcoin is on the top of the food chain because of supply and demand. And when we hit the halving in the next 2 years and as the supply is dwindling there could be demand in the future. And right after the halving we may have to experience bull run again. So the risk that we are taking today will be worth. Yes, there are a lot of things going around the world that can affect the price, it would hit global trades and the world economy, and not just bitcoin market that will be severely impacted by other traditional financial markets.

[Desscount]

Currently the price of bitcoin is experiencing a slight increase in price, where the price has returned to touch $23k after a few months ago the price of bitcoin fell to touch the level of $17k which resulted in the price of bitcoin experiencing sideways. Therefore, let's see if the current price still has the potential to bounce down like before, or whether it manages to rise up. Hopefully the market recovery will return as expected.

I believe the price of Bitcoin will always be above $20k until next year, and $18k is an all time low for the bear market this time,
because according to technical analysis Bitcoin is really at the point of oversold, which means that many have sold Bitcoin when the price under $20k, well I hope this is true

[Oilacris]

Currently the price of bitcoin is experiencing a slight increase in price, where the price has returned to touch $23k after a few months ago the price of bitcoin fell to touch the level of $17k which resulted in the price of bitcoin experiencing sideways. Therefore, let's see if the current price still has the potential to bounce down like before, or whether it manages to rise up. Hopefully the market recovery will return as expected.

I believe the price of Bitcoin will always be above $20k until next year, and $18k is an all time low for the bear market this time,
because according to technical analysis Bitcoin is really at the point of oversold, which means that many have sold Bitcoin when the price under $20k, well I hope this is true

Yes, its oversold basing on technical indicators but we know that TA's doesnt work precisely or from time to time which means that we cant really assure that we would really be following on what those

analysis would be telling us but at least it do really give out some idea on where it could possibly go but telling about wont be going below 20k for this year is nothing can be assured.

Everything could really be a possibility because this market is totally unpredictable and there's no way that you could really make fix presumptions about price or numbers
that might end up for this year but i do hope we would be seeing some significant numbers for this year.

[dezoel]

Making these type of predictions is not really that hard when you are not followed up. I mean if you asked anyone what the price peak will be in august (right now) and then September and October and November. There would be very very few people who will get it right, and I mean like make it an online thing.

I know this because I have gambled at freebitco.in for a while now and rarely people know where it will end up, and let alone do that back to back. So, some guy could know about what it will do once, but could they do it back to back for a long time? Because you need to do it like that in order for me to start listening to what you are saying and make trades based on that.

[n0ne]

The price of bitcoin have reached $24200 in the last 24hrs. The week have started with a bullish move, and now slowly the market price of bitcoin have touched $23800. This is something common in the market. Now the price will try to create momentum around the range of $23k - $24k. Achieving this could push the price cross the barrier $25k. So, in the upcoming week there is more chances of $25k.

[STT]

Good shape to BTC progress but it has to get past the 50% retraction level for the June top to bottom pricing, once it does that and maintains above the 50 day average it has my confidence we can actually go somewhere.   

50 day MA rising and holding this pattern is good but we continue to hesitate and volume to the rise is so far below the volume to the drop that I presume it can only mean we must fight far larger in future to rise back to yearly averages in a proper recovery.     Basically I think this autumn into the end of the year is the reasonable timescale for our recovery.

[kotajikikox]

Currently the price of bitcoin is experiencing a slight increase in price, where the price has returned to touch $23k after a few months ago the price of bitcoin fell to touch the level of $17k which resulted in the price of bitcoin experiencing sideways. Therefore, let's see if the current price still has the potential to bounce down like before, or whether it manages to rise up. Hopefully the market recovery will return as expected.

I believe the price of Bitcoin will always be above $20k until next year, and $18k is an all time low for the bear market this time,
because according to technical analysis Bitcoin is really at the point of oversold, which means that many have sold Bitcoin when the price under $20k, well I hope this is true

then you are completely wrong already because the price of bitcoin lowered down to the lowest price of 17k already and that happened last month of July so your assumption is far from what is reality.
 and how can you assume that the price will constantly hold that 20k above? you will only feel the disappointment if that will be your outlook because market wasn't stable still .

[Reatim]

The right prediction is because we are in the price range of $ 20k- $ 23k, but as an investor who wants to be successful, this is a good opportunity to buy, don't buy when the price of rising, but when red like now is a good opportunity to buy at a price inexpensive.

If you happen to read the thread , it was created back in June when the price is still above that level , and OP is wrong because the price even dropped to 17 k things that he did not mentioned.
But this thread should be closed because it was already happened and we need to have another prediction by now.

The price of bitcoin have reached $24200 in the last 24hrs. The week have started with a bullish move, and now slowly the market price of bitcoin have touched $23800. This is something common in the market. Now the price will try to create momentum around the range of $23k - $24k. Achieving this could push the price cross the barrier $25k. So, in the upcoming week there is more chances of $25k.

I think the barricade now is 25k  , if this can be broken then maybe it is safe to assume that 30k will be the next target?

[Davian144]

I believe the price of Bitcoin will always be above $20k until next year, and $18k is an all time low for the bear market this time,
because according to technical analysis Bitcoin is really at the point of oversold, which means that many have sold Bitcoin when the price under $20k, well I hope this is true

As for the lowest price on Bitcoin, that's definitely true. But for many who have sold Bitcoin when the price was below $20K, I don't think it's the right thing because until now there are still many people who hold Bitcoin and choose not to sell it, including when the price is below $20K. So I'm sure that next year the price of Bitcoin will be slightly different from this year's price which could even approach $30K again.

[Epaper]

The bitcoin price scenario to the $20k-$23k price level has occurred where the bitcoin price is currently trading in the $24k-$23k price range. Therefore, if bitcoin is stuck in the $20K resistance area, the bearish trend will continue and it is possible that the bitcoin price will fall back to the $19k price level.

[Jating]

The bitcoin price scenario to the $20k-$23k price level has occurred where the bitcoin price is currently trading in the $24k-$23k price range. Therefore, if bitcoin is stuck in the $20K resistance area, the bearish trend will continue and it is possible that the bitcoin price will fall back to the $19k price level.

We are stuck in the resistance level of $23k-$24k. And yes we are still in the bear market, and even if we hit like $40k, I would say that the bearish sentiments is still there and can't be discounted. Maybe some sort of comfort short term.

We can't tell if we will go below $20k, at least for now, I do think that we have hit the lower lows at $17,500. But still though, a good buying opportunity as the price is not really that high. We can go and continue with our DCA until you have enough in your wallet in this bear market.

[dragonvslinux]

The bitcoin price scenario to the $20k-$23k price level has occurred where the bitcoin price is currently trading in the $24k-$23k price range. Therefore, if bitcoin is stuck in the $20K resistance area, the bearish trend will continue and it is possible that the bitcoin price will fall back to the $19k price level.

We are stuck in the resistance level of $23k-$24k. And yes we are still in the bear market, and even if we hit like $40k, I would say that the bearish sentiments is still there and can't be discounted. Maybe some sort of comfort short term.

We can't tell if we will go below $20k, at least for now, I do think that we have hit the lower lows at $17,500. But still though, a good buying opportunity as the price is not really that high. We can go and continue with our DCA until you have enough in your wallet in this bear market.

Agree with most of your opinion, apart from being stuck between $23K and $24K that is (as of typing) no longer that case 

Long-term price is still in a bear market, and it'll likely be the case not just to $40K, but $50K, even $60K. Unless a significant higher low is established before then, then any coming rally will merely be a dead cat bounce before establishing either a lower low or higher low (in the macro sense). But this is what many Bitcoiners can't get their head around in a bear market, that price can double from here relatively easily.

Personally I think the bottom is in now and $20K to $22K has become strong enough support to hold price, as long as we get a significant bounce to $40K to $50K levels prior to making a higher low many months later, possibly around $25K to $30K, but too early to tell for now. Just yesterday price was around a 4-year average, so it certainly still looks like a good buying opportunity long-term, nothing has changed there.

[Inspiron14]

The right prediction is because we are in the price range of $ 20k- $ 23k, but as an investor who wants to be successful, this is a good opportunity to buy, don't buy when the price of rising, but when red like now is a good opportunity to buy at a price inexpensive.

that's right!, today is the right time to buy Bitcoin at the price of $24k,
because technically the price of Bitcoin has broken out and will go to $30k,
many channels have said, of course this will be a bullish signal for cryptocurrencies.

[Yaunfitda]

The right prediction is because we are in the price range of $ 20k- $ 23k, but as an investor who wants to be successful, this is a good opportunity to buy, don't buy when the price of rising, but when red like now is a good opportunity to buy at a price inexpensive.

that's right!, today is the right time to buy Bitcoin at the price of $24k,
because technically the price of Bitcoin has broken out and will go to $30k,
many channels have said, of course this will be a bullish signal for cryptocurrencies.

Hmm, love your optimism about the price breaking $30k, but still a long way to go from here. Luckily we have bounce back to $24k again and that is one of the mental barriers, but I will say that the next one will be $28k and then $30k.

Definitely that will be a bullish signal, but still way below from what we reach in November of $69k. So there are still a lot of things that should happen from here up to the end of 2022 so at least get closer to $40k. That will be the goal, short term.

[StreakW]

Currently the price of bitcoin is experiencing a slight increase in price, where the price has returned to touch $23k after a few months ago the price of bitcoin fell to touch the level of $17k which resulted in the price of bitcoin experiencing sideways. Therefore, let's see if the current price still has the potential to bounce down like before, or whether it manages to rise up. Hopefully the market recovery will return as expected.

I believe the price of Bitcoin will always be above $20k until next year, and $18k is an all time low for the bear market this time,
because according to technical analysis Bitcoin is really at the point of oversold, which means that many have sold Bitcoin when the price under $20k, well I hope this is true

I also hope that the price of bitcoin will always be above $20k and not fall below $20k again, but anything is still possible in the crypto market, let alone the global macroeconomic situation that is still volatile. So, let's see and wait how far the price movement of bitcoin so far this year.

[dataispower]

The price of cryptocurrency is not something somebody will rely on because I believe that the more we enter market or cryptocurrency the more the price is going on so they are for saying that bitcoin is getting to the endpoint I disagree with so many people because this one is something that increase or rise  anytime we never feel. I believe that with the level of what we are experiencing now there is a certain change concerning cryptocurrency movement. But some people don't think that bitcoin is crashing and it will not get any value again because of a drop for higher concentration to lower concentration so right now I think is maintaining the concentration of higher.