How low will BTC's market price go?

[Abiky]

This year has been full of catastrophes for the crypto/Blockchain industry. First it was the Russo-Ukraine war, then the Terra/LUNA implosion, and most recently, the FTX collapse. All of this had severely affected Bitcoin's market price. The pioneer cryptocurrency used to trade between $20k - $25k, but now it's trading at $16k - $15k per coin. I know investing in Bitcoin is for the long haul, but I'm curious how low its price will go before bouncing all the way back up again? Some people say Bitcoin will go lower than current market prices as the effects of the FTX collapse haven't materialized yet. There are many companies and projects (like Solana) which had investments on FTX, so it's likely BTC will see more pain ahead before the dust settles.

What would be your predictions? Your input will be greatly appreciated. Thank you.

[Oshosondy]

This year has been full of catastrophes for the crypto/Blockchain industry. First it was the Russo-Ukraine war, then the Terra/LUNA implosion, and most recently, the FTX collapse. All of this had severely affected Bitcoin's market price.

Do not forget that after Russia invasion, bitcoin price fall below $38000, but increased back the same day and a bull run started for like a week and bitcoin price increased above $48000. All that could happen during war like that is the citizens of the countries that are affected to buy bitcoin at premium price. What really affected crypto price downtrend was because:

• this year supposed to be bearish
• the Luna and UST scam
• the FTX money mismanagement

The pioneer cryptocurrency used to trade between $20k - $25k, but now it's trading at $16k - $15k per coin. I know investing in Bitcoin is

It indicates an opportunity to buy.

for the long haul, but I'm curious how low its price will go before bouncing all the way back up again? Some people say Bitcoin will go lower than current market prices as the effects of the FTX collapse haven't materialized yet. There are many companies and projects (like Solana) which had investments on FTX, so it's likely BTC will see more pain ahead before the dust settles.

What would be your predictions? Your input will be greatly appreciated. Thank you.

We are not God or extraterrestrial being that could foresee the future, no one knows what the lowest price would be, but when the bull market will start, many people that do not buy now may miss it, that is why it is good to make use of DCA to invest on bitcoin now.

[Yatsan]

Some people say that it could go low as $13k while some says it would be at its bottom at $14k. Fact here is no one really knows. But higher tendence to happen is that market behavior could stay at its present state for more months given that there are still no 'event' which could hype up this industry.

This year has been full of catastrophes for the crypto/Blockchain industry. First it was the Russo-Ukraine war, then the Terra/LUNA implosion, and most recently, the FTX collapse. All of this had severely affected Bitcoin's market price.

Do not forget that after Russia invasion, bitcoin price fall below $38000, but increased back the same day and a bull run started for like a week and bitcoin price increased above $48000. All that could happen during war like that is the citizens of the countries that are affected to buy bitcoin at premium price. What really affected crypto price downtrend was because:

• this year supposed to be bearish
• the Luna and UST scam
• the FTX money mismanagement

The pioneer cryptocurrency used to trade between $20k - $25k, but now it's trading at $16k - $15k per coin. I know investing in Bitcoin is

It indicates an opportunity to buy.

for the long haul, but I'm curious how low its price will go before bouncing all the way back up again? Some people say Bitcoin will go lower than current market prices as the effects of the FTX collapse haven't materialized yet. There are many companies and projects (like Solana) which had investments on FTX, so it's likely BTC will see more pain ahead before the dust settles.

What would be your predictions? Your input will be greatly appreciated. Thank you.

We are not God or extraterrestrial being that could foresee the future, no one knows what the lowest price would be, but when the bull market will start, many people that do not buy now may miss it, that is why it is good to make use of DCA to invest on bitcoin now.

Foreseeing is impossible especially to such assets having too volatile market price. Unlike with gold and ither assets which are continuously rising over years. In this industry, not only with Butcoin, there are just seasons or periods wherein the demand increases continuously but also periods wherein it is low such as with the present, caused by factors.

[Oilacris]

We are not God or extraterrestrial being that could foresee the future, no one knows what the lowest price would be, but when the bull market will start, many people that do not buy now may miss it, that is why it is good to make use of DCA to invest on bitcoin now.

Heavily agree on this one which is really totally on point which there's no man on this world would able to know on where these prices would eventually go.
We didnt even expect that this LUNA crash + FTX problem could really happen.No one had anticipate for that.

If you are really that already experienced then you would really be seeing this market condition as a solid signal for you to buy.DCA if ever you do have the
money and all sort of things as long you could able to put up yourself on a good position because its really impossible that this market
wont really be making some recovery.

[Welsh]

I'd say it highly depends on what sort of domino effect FTX has had on other Bitcoin related businesses. We might also see other businesses in the Altcoin scene go down due to the Altcoins tanking. People lose faith much more easily in Altcoins than Bitcoin.

If we have several more bankruptcies, and god forbid another exchange go down; it could potentially tank further. Although, if nothing bad happens in the next six months, I'd imagine we'd see some sort of recovery. Probably a small increase, but nothing too drastic.

Not that it matters, I wouldn't recommend trying to guess the bottom to invest.

[OgNasty]

I don’t think that sentiment can get any lower, so it’s mostly about when the collapse is finally contained. Genesis is currently fighting to do right by their lenders and if they can’t then it’s likely we take another step down. Who knows who will be next. Possibly GBTC or even Binance. Once entities stop being forced to raise capital by selling their BTC then things will stabilize and start rising again.

[cryptomaniac_xxx]

This year has been full of catastrophes for the crypto/Blockchain industry. First it was the Russo-Ukraine war, then the Terra/LUNA implosion, and most recently, the FTX collapse. All of this had severely affected Bitcoin's market price. The pioneer cryptocurrency used to trade between $20k - $25k, but now it's trading at $16k - $15k per coin. I know investing in Bitcoin is for the long haul, but I'm curious how low its price will go before bouncing all the way back up again? Some people say Bitcoin will go lower than current market prices as the effects of the FTX collapse haven't materialized yet. There are many companies and projects (like Solana) which had investments on FTX, so it's likely BTC will see more pain ahead before the dust settles.

What would be your predictions? Your input will be greatly appreciated. Thank you.

Really hard to say mate, when we thought that we have reached the bottom at $17,500, here we go again. And with that, lowest low is $15,500, so I would say that we can still slashed $2k based on the previous lowest low then maybe we might be looking at $13,k'ish.

We still have to remember that 2024 will like be another bearish trend, so the market is still open for another leg down before we can finally see the light at the end of the tunnel in 2024. And worst come to worst, $11k is still possible.

[kro55]

This year has been full of catastrophes for the crypto/Blockchain industry. First it was the Russo-Ukraine war, then the Terra/LUNA implosion, and most recently, the FTX collapse. All of this had severely affected Bitcoin's market price. The pioneer cryptocurrency used to trade between $20k - $25k, but now it's trading at $16k - $15k per coin. I know investing in Bitcoin is for the long haul, but I'm curious how low its price will go before bouncing all the way back up again? Some people say Bitcoin will go lower than current market prices as the effects of the FTX collapse haven't materialized yet. There are many companies and projects (like Solana) which had investments on FTX, so it's likely BTC will see more pain ahead before the dust settles.

What would be your predictions? Your input will be greatly appreciated. Thank you.

Really hard to say mate, when we thought that we have reached the bottom at $17,500, here we go again. And with that, lowest low is $15,500, so I would say that we can still slashed $2k based on the previous lowest low then maybe we might be looking at $13,k'ish.

We still have to remember that 2024 will like be another bearish trend, so the market is still open for another leg down before we can finally see the light at the end of the tunnel in 2024. And worst come to worst, $11k is still possible.

It's too hard to know where the bottom of bitcoin is, I'm also one of those who think 17.5k is the bottom of this cycle as we've been struggling to stay above 19k for months. The Fed's rate hike is seen as the biggest impact of bitcoin's further fall, but it seems bitcoin is also insensitive to it. That's also why I think we've bottomed out but in the end the market always gives us surprises.

I believe the crash of FTX is not over yet and this time we will have a new low, not stopping at 15.5k. IMO, this is going to be the worst bear season ever so I'm ready for more bad stuff and more fiat to buy as much bitcoin as I can.

[Plaguedeath]

I don't own crystal ball so I don't know how low BTC will go, but even though I don't know, it doesn't make me to not accumulate Bitcoin right now!

I believe Bitcoin price might hit the lowest at $15K on few days ago, Bitcoin might go lower in the next year, but if you start to accumulate Bitcoin you will minimize the risk of high volatility and will enjoy the big return when the market goes bullish. Bitcoin will recover, so I don't scared with Bitcoin price is still continue to drop until next year.

[crunck]

Bitcoin price prediction is impossible but with my thoughts and desires I also want bitcoin to drop below $12k. If bitcoin can drop below 12k it will cause extreme panic in the market and many people leave the market. But for me it will be an opportunity, when others are afraid we should be greedy. Although it would be a bit cruel but if there was no panic in the market who would sell cheap bitcoin for us to buy.

[Lucius]

What would be your predictions? Your input will be greatly appreciated. Thank you.

I think that this board already has several threads dealing with the same question, so I wonder if we need another one?

We can speculate and guess as much as we want, but the only truth is that the only true bottom is the moment when the BTC price would touch 0, which of course will not happen. All that is happening is the result of human stupidity, starting with the fact that millions believed Mr. Mars, and then Kwon, and finally Bankman and various fairy tale sellers who promoted them with all the bells and whistles.

The only hope that everyone can have is in the halving, which means that realistically before the second half of 2024, I personally do not hope that there can be any major positive changes. What I am more sure of is that some new world-class scammer will appear in that period and will catch millions in his net - but if someone has the mentality of a sheep, nothing can save him, that's a fact.

[philipma1957]

What would be your predictions? Your input will be greatly appreciated. Thank you.

My forecast is unchanged from last year, I believe that the very bottom of bitcoin is at around $10,000. Firstly, these are the same 85% loss of value after ATH (this is how much bitcoin lost in the past bear markets of 2014 and 2018-2019). Secondly, in 2020, it was from the $10 000 mark (approximately) that the ascent of bitcoin began, the global bullrun began after a long recovery and accumulation. The bottom at around $15 500 does not seem to me the final point of this crypto winter, perhaps we will see the finale of this epic in 2023, not earlier, and at much lower price levels.

The bottom is usually what ever price a top of the line miner does at six cent power.

so s19 xp does 141 th that is 141 x 0.0582 = $8.21

it burns 3100x24= 75kwatts

that is $4.50 for power add $1 for overhead

$5.50 daily cost

8.21- 5.50= $2.71 daily profit for a machine that costs over 4000

So miners are hurting but if they own the gear outright they are not in trouble.

So we are not at a bottom with current diff and current price.

I see 10-11 as very likely based on breakeven numbers for the s19 xp

now if you want to argue do not use the s19 xp

use the s19 pro

you get 110 x 0.05829 = 6.41-5.50 or $0.91

which means current price is close and 15.7 was spot on.

last factor is how many big companies took loans on the gear to get it.

that means bottom is very likely in.

Thats the mining side of it.

Should be very interesting 6-9 months.

Dca is your friend.

[aylabadia05]

The Russian-Ukrainian war, the collapse of Luna and FTX are a series of problems that have occurred during this time so that they can be the reasons that affect market prices are unavoidable.

$15,682.69 is the lowest price that occurred on November 9, 2022, we can say that the price is the lowest price at this time although some time in the future the price could be below it again. For speculation on the lowest price in the future because there is an assumption that there will be problems again, I can't answer for sure what it will be like later.

[Falconer]

I'd say it highly depends on what sort of domino effect FTX has had on other Bitcoin related businesses. We might also see other businesses in the Altcoin scene go down due to the Altcoins tanking. People lose faith much more easily in Altcoins than Bitcoin.

On the last point, it is clear that it will be the main strength bitcoin has always hoped for during this bear market. People aren't losing faith in their bitcoins any more than they are in altcoin, but perhaps most of them prefer to wait for the best momentum to buy at a lower price.

What would be your predictions? Your input will be greatly appreciated. Thank you.

Some would say $10K - $12K as the low in the bitcoin price, but this analysis will not be entirely correct if bitcoin gains more strength and confidence in the next year. The problem now is that people are worried about FTX impacting the bitcoin price more, but actually cycles like this are going to happen regardless of what the issue is now.

[KingsDen]

This is honestly not a good year for cryptocurrency. Those incidents you listed above contributed in dragging bitcoin price too low and it also prevented some in-between or semi bull runs that happens along a long bear. This has prolonged this bear market, it might really be the longest bull in the cryptocurrency industry if we have to wait till the second quarter of 2024 to see a maximum bull run.

Saying about how low bitcoin will go, I can say that no one actually knows how dip bitcoin price will go. It could stop at 15k, it could also go to 10k or somewhere 5k. All is possible that is why my intentions and permutations does not really bother much on how low bitcoin will go, but rather how much I can be able to buy with DCA at every price drop.

[Captain Corporate]

I think anything above 15k is a reasonable point from here on out. I mean it could be under 16k as well, and reach to like let's say 15.3k or whatever, those are looking like a possibility, but as long as it stays above 15k, under that and we are breaching under a psychological level, it could go as low as 10k and that's risky, like going to 15.3k is one thing, going to 11.7k is a whole another topic and would be quite a difficult handle as well. Hopefully, we will do a lot better in the long run and not even drop that low, just stay above 16 and then go to 20k and then to 30k and so forth and break the ATH price but I fear that's not going to happen anytime soon.

[Yaunfitda]

Yes, $10k could be the bottom price for this bear market. $17k proved to be wrong, when others say that it will be the bottom. Now at 15k, still a lot of room for us till next year, if there will be as big as the FTX scandal or similar to Terra Luna collapse.

And one thing we learn here is that everything is possible, I mean if we can go up to 6 digits in the next bull run, we might as well see the bottom price around $10k so really appreciate how big the next bull run is.

[Abiky]

My forecast is unchanged from last year, I believe that the very bottom of bitcoin is at around $10,000. Firstly, these are the same 85% loss of value after ATH (this is how much bitcoin lost in the past bear markets of 2014 and 2018-2019). Secondly, in 2020, it was from the $10 000 mark (approximately) that the ascent of bitcoin began, the global bullrun began after a long recovery and accumulation. The bottom at around $15 500 does not seem to me the final point of this crypto winter, perhaps we will see the finale of this epic in 2023, not earlier, and at much lower price levels.

I hope BTC doesn't dip below $10k, or we'd be "toast". Most people are only into Bitcoin because of the price, so a major downfall would surely scare away the general public from investing into it. This will result in loss of confidence as we speak. Why do you think people still trust Gold these days even when there's Bitcoin in play? People trust Gold because it has never experience (AFAIK) a huge downfall in price, making it a stable and reliable store of value. You'd just invest into Gold, forget about it for a couple of years, and then come back with your money nearly intact (Gold is volatile but at a much lower rate than Bitcoin). If Bitcoin were the same, things would've been different by now.

At least, we all know prices won't be down forever. The next halving comes in 2024, so it's likely market prices will rise after that. If you buy BTC at cheap prices now, you'll be able to reap the benefits in the future. Who knows how far will the cryptocurrency go? Just my thoughts

[minime0105]

The price of Bitcoin cannot be determined in any means, because the price of Bitcoin can be classified as spherical shape, so i believe that Bitcoin have its regulatory system that do occur during the investment of cryptocurrency, because i believe that the only way the Bitcoin can be measured is through when the investors is being lined up into the investment of cryptocurrency, because i believe that cryptocurrency itself regulate the price, since this year we have been experiencing different kinds of it's price which i think that what caused is the investors.

[STT]

No price causes any toast condition imo because not every price is valid or equal in volume.    There is no need to expect significance at every price level, its quite correct to say some prices are not valid despite being traded between two parties openly and honestly the wider market did not have to respect that level.  It can occur on a high price and be some warning to sell in that peak prices are highly unstable and also the very lowest prices can be born out of fear and rapid trading that is not considered by the entire global market.  
  BTC is quite unusual in that its not focused entirely in any city, state or nation not even a hemisphere; we need an entire globe turn in a daily bar to really say this is a valid price seen and available to be traded by all.   Even then I class weekend and weekday prices differently, alot more confirmation is required and, in the gaps, erratic prices can occur.   Thats why my estimates for boundaries or the range of BTC possible in trades might appear more negative or extreme then others as Im just reflecting this price volatility that comes with decentralization.