will bitcoin go back to 19000

[buwaytress]

Some of the bad news that I know of are Binance suspends USD trading, Kraken stops offering staking services to the US, Paxos (BUSD) is under investigation...I'm not sure if all of this has an impact on the market. But no wonder bitcoin is down at this point, I was expecting bitcoin to hit $25k and then correct because no market can go up forever, and we are still in bear season. As to how much bitcoin will decrease or increase, you should do your own research with your knowledge, no one can give you an exact answer.

Nah I don't think it is any of that. I would actually say, sentiment wise, even the closure of localbitcoins, announced yesterday, is more negative in the sense that yet another pioneer and former giant (very nostalgic and somewhat impactful for me anyway) has folded because of supposed market outlook.

I think it is just a normal retracement as traders sit back after a solid 6 weeks, waiting for more news on economic outlook from the US and others.

[1715405746]

1715405746

[1715405746]

1715405746

[1715405746]

1715405746

[1715405746]

1715405746

[davis196]

OP, why did you have to pick 19K? Bitcoin price could go below 10K USD, if the conditions on the market allow this to happen.
There's nothing to worry about. We are still in the crypto winter. If you thought that the price recovery from 16K to 23K was stable I guess that I have to disappoint you. Many more centralized crypto exchanges will be facing trouble in the next weeks of months.
I'm also very nostalgic about the closure of Localbticoins. I've used them for 6 years without any issues. They were a really good crypto company. And yes, I know all the "be your own bank" and "don't use centralized services" golden rules, but I've used LBC since the days when I was a complete crypto noob and they've earned my trust.

[el kaka22]

With how things are looking, I wouldn't be too shocked to see that happening sometime soon. But that is alright, sometimes the market is like a bow, if you want to throw it further, you need to draw it back as much as you can. We need to get rid of the people who sold their coins in order to keep on moving higher with people who hold and buy coins.

It would definitely be something that is a bit of time taking and not something quick but I believe that is a very important part of investment world, waiting. If you can wait out all these sellers, then what's left will be buyers, so we just need some time and patience to keep going upwards again after this drop.

[onecall123]

right now I see the price of bitcoin on an exchange which is 21750, and has decreased by approximately 6% and I want to ask everyone,
is it possible that bitcoin will return to the price of 19000? or after this decline bitcoin will go back up higher ,,,?

and also I want to know what caused the bitcoin price to drop drastically?

It looks like Bitcoin will rally to $23K, but there is something different going on. Be careful of bitcoin on an exchange, which is trading around 21750 dollars. Bitcoin is always a long-term bullish investment. In case we fail $21K on the drop, we could go further down.

The global economic situation is quite unstoppable at the moment. The market is also negatively skewed right now, so it will most likely pull down before reversing.

[Nrcewker]

and also I want to know what caused the bitcoin price to drop drastically?

Generally the price of the coin follows the policy of supply and demand. So we know that the Bitcoins are limited in number, hence when the demand of the coin increases, the supply comes shortage. And in order to satisfy the demand, the price automatically goes up. The reverse happens when the demand is less, and more people are selling their Bitcoins. Hence the price comes down. This is one of the major factor, how the price of the coins works. Regarding going back to the 19k price segment, then it’s really hard, as soon bitcoins will touch 21k usd, people will buy more and more and hence the price will push up again.

[Edwardard]

{snip}
as soon bitcoins will touch 21k usd, people will buy more and more and hence the price will push up again.

Do you have any valid reasons to prove your point? Why is 21k a support according to you? Because on my chart, I dont see anything right there. Since it pumped from 17k to 24k in a straight line, it has the ability to dump back in a straight line as well, as we dont have much accumulated traded volume and haults in between (in the daily candles). Wouldnt be surprised to see 17k again. Although between 19.8k-20k will be a pyscological level to buy.
P.S.: Also, on Feb 14th is our next CPI data release, lets see the outcome!

[inthelongrun]

We will see. All forecasts and analyses aimed to predict the next bitcoin movements but the truth is they aren't perfect either. But it is actually common for a big movement to always have corrections just like what happened when bitcoin all of a sudden dropped from $20k to $15k. What I just see here is bitcoin might not touch that $15k level again. But $19k is still very possible, that's just near to the current price, and since we are still far from that halving date. I loosen myself from the stress of daily trading by just doing the DCA on bitcoin. So I am actually happy if bitcoin drops a little since my next buy is still on Feb 24. I might catch that $ 20k-something price.

[michellee]

The bitcoin price could go back to the $19k price, especially if there is more negative news out there and it will also panic people if the price does drop to that price. But once the dip in price occurs, there will be a price reversal that comes and despite the waiting time to find a stable position, the bitcoin price will start to increase, be it slowly or get a pump right away. With negative news, it can send the bitcoin price down and we've seen it happen time and time again. So we can only prepare ourselves by placing a buy order at the low price we want.

[ilovealtcoins]

right now I see the price of bitcoin on an exchange which is 21750, and has decreased by approximately 6% and I want to ask everyone,
is it possible that bitcoin will return to the price of 19000? or after this decline bitcoin will go back up higher ,,,?

and also I want to know what caused the bitcoin price to drop drastically?

Although it can still happen, I don't think it will. My prediction is bitcoin will trade around the $21.5k-22k area for a short, while altcoins will suffer serious bloodshed, and then there will be a stronger bull run before. I believe we will have 2, or 3 bullish waves before a strong correction. My target is 30k-35k for this next bull run.

[Husires]

With every move in the Bitcoin price, the emotion begins to move in us, so the greedy instinct does not move, so we hear news such as that the price will return to the levels of 26K or 30k. Even in the previous days, we heard a topic talking about the price of 80k, and as soon as the price moves down a little, we notice the fear instinct began to gain control. Topics talk about $ 16,000 to $ 19,000, and if the price collapsed severely, you may hear analyzes talking about levels of $ 3,000 or less.

Can we experience $80k this year?  Topic date February 08, 2023
Is Bitcoin Heading Back To $23,000? Topic date February 03, 2023

The best advice is to develop an investment plan in which you calculate the bottom as a starting point, and then you will not be indifferent to temporary fluctuations.

[Popkon6]

and also I want to know what caused the bitcoin price to drop drastically?

It is normal for the Bitcoin market to fluctuate. In January 2023, the price of Bitcoin began to rise.  Bitcoin market has remained above 20K all time.  But come February the price of Bitcoin was between 22k to 25k for a long time which is now the market has gone down a bit.  But the Bitcoin market will never go back to 19k. We haven't crossed the bear market yet due to which the market is still making lows and highs.  Bitcoin market up and down is a strategy to gain profit from buying and selling.

[btc_angela]

Some of the bad news that I know of are Binance suspends USD trading, Kraken stops offering staking services to the US, Paxos (BUSD) is under investigation...I'm not sure if all of this has an impact on the market. But no wonder bitcoin is down at this point, I was expecting bitcoin to hit $25k and then correct because no market can go up forever, and we are still in bear season. As to how much bitcoin will decrease or increase, you should do your own research with your knowledge, no one can give you an exact answer.

Nah I don't think it is any of that. I would actually say, sentiment wise, even the closure of localbitcoins, announced yesterday, is more negative in the sense that yet another pioneer and former giant (very nostalgic and somewhat impactful for me anyway) has folded because of supposed market outlook.

I think it is just a normal retracement as traders sit back after a solid 6 weeks, waiting for more news on economic outlook from the US and others.

Yeah, probably we need some respite after all the 6 weeks that we are in a positive note, 40%+ increased.

Next pivot data from the FEDs are going to be interesting, at the start of this month, they said “has eased somewhat but remains elevated,” could be positive sign,  but yet they said they need to gather more data to say that inflating is really going down. We are still about the biggest support of $20k so I think we will be good and not coming back to $19k yet.

[BITCOIN4X]

Yeah, probably we need some respite after all the 6 weeks that we are in a positive note, 40%+ increased.

Next pivot data from the FEDs are going to be interesting, at the start of this month, they said “has eased somewhat but remains elevated,” could be positive sign,  but yet they said they need to gather more data to say that inflating is really going down. We are still about the biggest support of $20k so I think we will be good and not coming back to $19k yet.

If since November 2022 bitcoin can rise by more than $8K, then it is always possible to lose $2K from its current price towards $19K. But who really expected the price to drop lower, I don't really expect it anymore.

Meanwhile, there were several negative news which had quite an impact on the current market sentiment. The conflict between Kraken and the SEC is one of the causes, and because of that bitcoin has fallen quite a lot in the last 24 hours. Many investors are worried about this issue, and they also believe that the negative sentiment will have a heavy impact on the price.

[passwordnow]

right now I see the price of bitcoin on an exchange which is 21750, and has decreased by approximately 6% and I want to ask everyone,
is it possible that bitcoin will return to the price of 19000? or after this decline bitcoin will go back up higher ,,,?

and also I want to know what caused the bitcoin price to drop drastically?

Every time we see bitcoin's price drop by a certain percentage, people are too worried about it. Any price that's near to it can potentially come again and regardless of the market situation now, due to its volatility then it means that any price might be hit, high or low.
It will come to your experiences that with these price changes is just going to be temporary and will still end up soon, might be a year or two with another bull run.

[Ultegra134]

I'm not necessarily talking about the OP specifically, but just a few hours after Bitcoin started falling, we already have more than 5 threads about the end of this short bull-run and Bitcoin's possible crash again. I understand that we're talking about money, and everyone is a little worried when they can practically see their wallets draining in value, but why all this panic? It's completely unnecessary. Less than a month ago, Bitcoin was at $16,000, and it recently almost got up to $25,000; is it such a big deal if it falls to $20,000 or even as low as $18,000? Consider it an opportunity gap; personally, I'll receive more Bitcoin now that the price is lower, so that's a plus.

[_act_]

I'm not necessarily talking about the OP specifically, but just a few hours after Bitcoin started falling, we already have more than 5 threads about the end of this short bull-run and Bitcoin's possible crash again. I understand that we're talking about money, and everyone is a little worried when they can practically see their wallets draining in value, but why all this panic? It's completely unnecessary. Less than a month ago, Bitcoin was at $16,000, and it recently almost got up to $25,000; is it such a big deal if it falls to $20,000 or even as low as $18,000? Consider it an opportunity gap; personally, I'll receive more Bitcoin now that the price is lower, so that's a plus.

Like me, I wish bitcoin to fall so that I can invest more at $17000 which I believe is the resistant price for this bear and bull cycle. I also wish bitcoin can fall so that altcoins can fall more so that I can I best in altcoins too. I like to DCA but DCA above $20000 is not what I like, I like it below $20000. It is not about the price we invest on bitcoin that matters now, what matters is that we are invest at a low price, we are going to be happy later when bitcoin gets above $50000.

[kawetsriyanto]

It is possible for the price to go back to 19k or even 16k, but if you want to talk about speculation I would like to let you know there is a whole board dedicated to it, in the economy section of the forum.

Yep. It is very possible to drop again to $19k but I personally don't think it will happen. If there is no big FUD, I believe the price will stay above $20k. Bitcoin price already increased almost reaching $25k, so I assume it will try to pass $25k in the next pumps.

No reason that Bitcoin to drop to $16k, we shouldn't drop to a lower price than the lowest price in 2022. We actually have a better trend since early of 2023, I guess the possible lowest price of the current drop is around $20k-$21k. But surely no one knows it, it is just my speculation. IMO

I personally do not know why the price has gone down recently, I may have something to do with the closure of LocalBitcoins, but I am not sure.

Even with no FUDs, it is normal to have some dumps. There are several pumps since early of this year, we must have some dumps before the next pumps. It is something that we often saw in crypto market, so don't be so surprised about this.

[fadhilz123]

right now I see the price of bitcoin on an exchange which is 21750, and has decreased by approximately 6% and I want to ask everyone,
is it possible that bitcoin will return to the price of 19000? or after this decline bitcoin will go back up higher ,,,?

Any possibility is still very open for Bitcoin, because if from $ 23K Bitcoin can go down to $ 21K through a small correction that is not so drastic. Of course that's not out of the question for $19K either, but I don't think it will happen in the current price correction. Because a price bounce to the top is still very possible to happen to Bitcoin again this month.

and also I want to know what caused the bitcoin price to drop drastically?

The reason Bitcoin can drop drastically is that there is still panic from Bitcoin holders at certain times or when they gain influence through things they are reading now even though the truth is still very doubtful. But in general any price drop including the price of Bitcoin is due to a lot of sales from holders who used to hold large amounts of Bitcoin besides the influence of the news in the media.

[goaldigger]

I'm not necessarily talking about the OP specifically, but just a few hours after Bitcoin started falling, we already have more than 5 threads about the end of this short bull-run and Bitcoin's possible crash again. I understand that we're talking about money, and everyone is a little worried when they can practically see their wallets draining in value, but why all this panic? It's completely unnecessary. Less than a month ago, Bitcoin was at $16,000, and it recently almost got up to $25,000; is it such a big deal if it falls to $20,000 or even as low as $18,000? Consider it an opportunity gap; personally, I'll receive more Bitcoin now that the price is lower, so that's a plus.

This is a pretty normal trend where on every price change, people will react on this.
Having this thread speaks a lot about uncertainty and panicking, its pretty obvious that many are afraid to see Bitcoin at a cheaper price again while some are just cashing in and waiting for the price to corrects. What we are seeing now is the price correction, if Bitcoin fails to break the resistance then this is the next scenario so better to be ready.

[Merit.s]

right now I see the price of bitcoin on an exchange which is 21750, and has decreased by approximately 6% and I want to ask everyone,
is it possible that bitcoin will return to the price of 19000? or after this decline bitcoin will go back up higher ,,,?

and also I want to know what caused the bitcoin price to drop drastically?

19k price is unpredictable since nobody can say how low the price will dip to. 21k is a good resistance price but how strong can it resist this price, I guess from my own analysis it is possible bitcoin price will dip to 20k. Demand and supply place a vital role in bitcoin price, I see this new price as an opportunity for us to accumulate more btc for ourselves till the real bull run comes. The price shouldn't be the problem when you are in a long term investment.