The low support level may still be tested during 2023.

[Woodie]

With how this have turned out in the last couple of days, we not going back to the lows!!

Why? Because we have the big boys coming to play and any weak hands wanting to sell now will just be handing over  their coins to the new whales in town and they are stocking up at the moment!

Imagine these guys just made an announcement of joint the crypto space and we all saw price jump from 25k to 30k and imagine  what will happen when they start  buying...Green days are ahead of us ,HODL!

[justdimin]

4 to 8 years is a very long time and one will barely be able to hold for that long, considering there will be a lot of bear and bull cycles in between these years, it will be much more profitable if someone buys and sells at the perfect intervals between these bear and bull cycles instead of just holding whether the market is up and down. If I have bought Bitcoins when it was at around $16k or $17k and then it goes above $60k, I would probably sell as soon as I see the market coming down and wait for the next cycle.

That way, I will earn profits from the dips and will also profit if the market goes very high, by the time 8 years have passed, I will have earned way more than what I could earn if I only held for all these years. That is what I would do, I'm not sure about others though.

I think finding those perfect intervals is the issue and many people fail to do that. I think that's the main reason why we are not seeing that happening all that frequently. I think the best thing to do in this case to make sure that it doesn't really get away from us too quickly.

I think long term holding is profitable in the sense that it could help us get better at results instead of trying to make is be a trader. I hope those people who plan up to become traders could buy at the bottom and sell later on, that's definitely a good thing. But that doesn't change the fact that it is not going to happen that easily. All in all I think it is going to be a big deal, and hope that it will be as easy as it gets for a long time. If we can arrange that, then we are going to be fine.

[Velemir Sava]

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

Nobody can predict bitcoin or neither control the degradation in price and increment in price, its very obvious that the price of bitcoin is rational and never be stable or constant at any point in time,  what really determine the increment and decrement of bitcoin is the market demand and market supply, so I believe that bitcoin have to act in any capacity it wants because its been regulated or moved in price due what is been determined in the crypto market. As it stance bitcoin price can high tomorrow getting the next day the price destabilise, so it's the nature of crypto market.

Yes, it's difficult especially BTC. Yes, as you mentioned above what really determines the rise and fall of bitcoin is the market demand and supply market and that shows in the daily transaction volume as well. I think it all comes back to each individual in terms of trading. But it's safe to stay in long-term HODL for sure.

[Silberman]

With how this have turned out in the last couple of days, we not going back to the lows!!

Why? Because we have the big boys coming to play and any weak hands wanting to sell now will just be handing over  their coins to the new whales in town and they are stocking up at the moment!

Imagine these guys just made an announcement of joint the crypto space and we all saw price jump from 25k to 30k and imagine  what will happen when they start  buying...Green days are ahead of us ,HODL!

While true, we must not forget that those people are also not keen on overpaying for their bitcoins, so if they can create some FUD to scare enough weak hands and get cheaper coins then this is something they will do as it plays on their favor, only once they are happy with their holdings and the amount of bitcoin they have bought then that is when they allow the price to go up, as in this way they can maximize the profits they can get out of their holdings.

[rby]

Looking at the chart it sure seems like we're at a decision point.  The market can retest $20K or it can shoot up to $40K, but I don't think it sits where it is now for too long.  With all the ETF news being the big talk in the market, I think a move to $40K is more likely but we'll see.  The elephant in the room remains mtgox and I feel like distribution should come around the end of the year, so we'll have to see how that goes before really being able to make a good determination of where the market goes from $40K.

A fairly nice and realistic analysis you made here. The market is not sitting at 30k for long, it will make an upward or downtrend decision. There is a nice inclination that the trend will be upward.
In this speculation board, someone made a hash analysis of bitcoin moving to 48k or down to 8k. The analysis wasn't nice. We know nothing is impossible, but this present market we witness cannot go to 8k.

[Epaper]

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

I think low support levels and the possibility of a drop in Bitcoin price below $20k in the remainder of 2023 are unlikely to occur again. Especially now that Bitcoin is trading above $37k, and even has the potential for price increases to continue.

[Yaunfitda]

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

I think low support levels and the possibility of a drop in Bitcoin price below $20k in the remainder of 2023 are unlikely to occur again. Especially now that Bitcoin is trading above $37k, and even has the potential for price increases to continue.

Yeah, I do agree, I'm not seeing a huge drop to $20k because it will be a disaster at this point. Last year, we can understand it as we are in the bear market. But now we are closing on the bearish sentiments and in the last couple of months, we have gain a lot, no more sideways pattern, but price increased as high as $39k.

And with that, December is just knocking on the corner, and if I will play guessing game, we might see the price going to $40k'ish or even higher. Usually December seems to be a good month to us and hopefully the pattern will continue.

[DanWalker]

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

I think low support levels and the possibility of a drop in Bitcoin price below $20k in the remainder of 2023 are unlikely to occur again. Especially now that Bitcoin is trading above $37k, and even has the potential for price increases to continue.

Yeah, I do agree, I'm not seeing a huge drop to $20k because it will be a disaster at this point. Last year, we can understand it as we are in the bear market. But now we are closing on the bearish sentiments and in the last couple of months, we have gain a lot, no more sideways pattern, but price increased as high as $39k.

And with that, December is just knocking on the corner, and if I will play guessing game, we might see the price going to $40k'ish or even higher. Usually December seems to be a good month to us and hopefully the pattern will continue.

I think the market will still have some corrections until the bull season really comes and even when the halving takes place there will still be corrections. Unlike many people who have the notion that when the halving event approaches, bitcoin will never decrease more. But I agree with you two, bitcoin falling below 20k$ will not happen, I think the lowest will be 30k$ if there is a big correction.

Many predictions suggest that bitcoin could reach the $40k mark before the end of the year, I also hope that will happen but the future is unpredictable and we will wait and see what happens.

[rodskee]

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

I think low support levels and the possibility of a drop in Bitcoin price below $20k in the remainder of 2023 are unlikely to occur again. Especially now that Bitcoin is trading above $37k, and even has the potential for price increases to continue.

It will be hard to believe that bitcoin price will drop below 20k again even not this year or in the
 next before halving , like now that we are expecting ETF approval next year early (but always we are expecting lol)
 and also there are big boys now that have their support aside from Binance not being dumped after the resignation
 of CZ , I believe that we are looking to stronger market till next year.

[danadc]

Those who have not been able to buy at low levels of bitcoin are sorry and have said that it is too late to buy bitcoin? but it is something that does not make any kind of sense, I think that there is a lot of opportunity now to buy and make a great profit for us, those who want to sell are welcome, only the smartest buy when the weakest sell, that's what it's all about This business, the one that is not prepared for something good, then it is not, but the support, or whatever you want to see? See, the important thing is that bitcoin is currently at less than $70k, that for me is enough to see it cheap.

[tygeade]

I think low support levels and the possibility of a drop in Bitcoin price below $20k in the remainder of 2023 are unlikely to occur again. Especially now that Bitcoin is trading above $37k, and even has the potential for price increases to continue.

It will be hard to believe that bitcoin price will drop below 20k again even not this year or in the
 next before halving , like now that we are expecting ETF approval next year early (but always we are expecting lol)
 and also there are big boys now that have their support aside from Binance not being dumped after the resignation
 of CZ , I believe that we are looking to stronger market till next year.

I feel like it would not drop under 20k ever again in our entire history. I know this is a big thing to say, but it has seen under 20k during the last bear market barely, it has gone down to 15k, and that was it, and I think with a new all time high coming, and potentially seeing above 100k, even in a situation where bitcoin drops 80%, that could be over 20k. That would be the biggest peak of bear run, and we would still be over 20k, I think that's an important situation.

I hope that we could end up with a situation that has to be a bit more careful, and it needs to be something that needs to be a bit more careful, that would definitely lead to a level where it would be profitable for the long run. I know that we may not end up with something that will benefit everyone, but at the end of the day it is going to be just a situation where it could profit everyone. So, we should just ignore anything under 20k, and even under 30k may not be seen anytime soon, maybe ever.

[_BlackStar]

-snip-

I feel like it would not drop under 20k ever again in our entire history. I know this is a big thing to say, but it has seen under 20k during the last bear market barely, it has gone down to 15k, and that was it, and I think with a new all time high coming, and potentially seeing above 100k, even in a situation where bitcoin drops 80%, that could be over 20k. That would be the biggest peak of bear run, and we would still be over 20k, I think that's an important situation.

Prices will not fall back to the $20K level for the rest of the year - I am very optimistic and confident to say that. No matter how much FUD there is to come - but the current positive trend seems very likely to be maintained until the end of the year. We've passed last year's low - so the hope is a major recovery and upside this year to be likely.

I hope that we could end up with a situation that has to be a bit more careful, and it needs to be something that needs to be a bit more careful, that would definitely lead to a level where it would be profitable for the long run. I know that we may not end up with something that will benefit everyone, but at the end of the day it is going to be just a situation where it could profit everyone. So, we should just ignore anything under 20k, and even under 30k may not be seen anytime soon, maybe ever.

I can't completely rule out a correction to $30K if major FUD hits the market - but of course, this doesn't look certain to happen any time soon. I'd certainly be very surprised if $30K were to be hit before the end of the year because I'm basically expecting $40K to be hit.

For now and in the future - keep your optimism and hold on to your bitcoins without hesitation. We must be able to overcome obstacles and that volatility must be ignored if you have set up a long-term investment.

[EluguHcman]

I basically not submissive to prediction rather I foresees the potentiality in the realms of Bitcoin because the nature of its volatility could be definitely or indefinite in its values.
I am Concious not to take further regrets waiting for the markets values to fall maybe to purchase with a specific amount just to obtains incredible values.
I buys and tends to hodl for long periods of time that is why I don't have to make a form of delay to accumulating more of Bitcoins in my trading wallets.

But OP talking table Investors to hodl and not to sell out on no matter what, that is depended if the Investors is determined for a long-term or a short-term investment otherwise hodling for long-term is best practices to higher profits in the space of Bitcoin investments.

[dunfida]

I think low support levels and the possibility of a drop in Bitcoin price below $20k in the remainder of 2023 are unlikely to occur again. Especially now that Bitcoin is trading above $37k, and even has the potential for price increases to continue.

It will be hard to believe that bitcoin price will drop below 20k again even not this year or in the
 next before halving , like now that we are expecting ETF approval next year early (but always we are expecting lol)
 and also there are big boys now that have their support aside from Binance not being dumped after the resignation
 of CZ , I believe that we are looking to stronger market till next year.

I feel like it would not drop under 20k ever again in our entire history. I know this is a big thing to say, but it has seen under 20k during the last bear market barely, it has gone down to 15k, and that was it, and I think with a new all time high coming, and potentially seeing above 100k, even in a situation where bitcoin drops 80%, that could be over 20k. That would be the biggest peak of bear run, and we would still be over 20k, I think that's an important situation.

I hope that we could end up with a situation that has to be a bit more careful, and it needs to be something that needs to be a bit more careful, that would definitely lead to a level where it would be profitable for the long run. I know that we may not end up with something that will benefit everyone, but at the end of the day it is going to be just a situation where it could profit everyone. So, we should just ignore anything under 20k, and even under 30k may not be seen anytime soon, maybe ever.

You cant say that we wont really be able to touch up 20k considering that we arent that too far off with that level and we know that when it comes to probability then this market isnt something that you could
draw out some conclusions just because of some gut feeling or intuition because you do believe that it is really that taking as of this moment. Well, we do have our own views and perceptions on how this market moves or behaves. So it is really just that normal that people would be having different views and there's nothing wrong with that. It is really just that we shouldn't forget on how fast prices could go into certain points
on which we didnt even believe that it could reach that high or low.

If you do really believe that low support level could be tested on 2023 which is its almost ending then better yourself that getting prepared for you to be able to DCA but it seems
that we arent that not likely to go not unless if there would really be some huge issues or events that might crash the market and reach out those levels
but for now we arent seeing any.

[BITCOIN4X]

~Snip

You cant say that we wont really be able to touch up 20k considering that we arent that too far off with that level and we know that when it comes to probability then this market isnt something that you could
draw out some conclusions just because of some gut feeling or intuition because you do believe that it is really that taking as of this moment. Well, we do have our own views and perceptions on how this market moves or behaves. So it is really just that normal that people would be having different views and there's nothing wrong with that. It is really just that we shouldn't forget on how fast prices could go into certain points
on which we didnt even believe that it could reach that high or low.

If you do really believe that low support level could be tested on 2023 which is its almost ending then better yourself that getting prepared for you to be able to DCA but it seems
that we arent that not likely to go not unless if there would really be some huge issues or events that might crash the market and reach out those levels
but for now we arent seeing any.

This thread was created last June when bitcoin was worth $24k or more, but fortunately bitcoin has never touched below $24k since then even though it did drop to $24,900 in September. Considering that the support level being discussed is no longer relevant to the current conditions, I think this thread is worth locking instead of leaving it open. We are at $37,500 currently and it is highly unlikely that the $20k support will ever be tested again for the rest of the year.

I know anything is possible and nothing is certain because the bitcoin market is very volatile. It only takes big bad news to get a massive dump resulting in a price crash, but I wouldn't imagine that happening for the rest of 2023. The $40k resistance is likely expected to be tested instead of a severe dump to the $20k.

[NewRanger]

With how this have turned out in the last couple of days, we not going back to the lows!!

Why? Because we have the big boys coming to play and any weak hands wanting to sell now will just be handing over  their coins to the new whales in town and they are stocking up at the moment!

Imagine these guys just made an announcement of joint the crypto space and we all saw price jump from 25k to 30k and imagine  what will happen when they start  buying...Green days are ahead of us ,HODL!

Big players will always come and go and it could be that 2024 will be the last investment opportunity of a lifetime and a good time to invest, but we also have to look at the fluctuations. If it falls again to 20-30% from the peak price towards the end of this year, you should take advantage of this second opportunity by adding to your position and holding on again.

[irhact]

Big players will always come and go and it could be that 2024 will be the last investment opportunity of a lifetime and a good time to invest, but we also have to look at the fluctuations. If it falls again to 20-30% from the peak price towards the end of this year, you should take advantage of this second opportunity by adding to your position and holding on again.

I don't think 2024 will be the last chance for we to invest and make life changing money, Bitcoin will always be volatile, the price will keep rising and falling based on the different market season we'll be having which is the bear and bull market. The big players would only reduced the volatility but they can't stop it as they won't be able to control the market. Bitcoin market is a decentralized market and not controllable, the big players will try but won't succeed.

Bitcoin can't fall that much any more this year as the bears are losing control of the market and the bulls are taking control as we enter into the bullish time of the market. All investors have to take the opportunity and buy more Bitcoin before it's too late. The price is going to rise more and not fall. The festive period coming up might be the last time we see Bitcoin price fall for a very long time as after the year ends next year is Bitcoin halving and the price always rise.

[naikturun]

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

I think a drop to 20k for bitcoin could still happen even though it has increased to 38k this month, there is still 1 month left before this year ends.
and more importantly, next year there are still several other issues before the bitcoin halving occurs.

[EluguHcman]

I really wouldn't be surprised or disappointed if bitcoin price tests the low support below $20k again in 2023 (but I'm sure it won't). Even though bitcoin is still trading above $24k at the moment, the possibility of a drop cannot be ignored. I don't think prices will hold well over the next few months, so of course I need to set up a budget to plan my purchases and build a strong portfolio.

The high volatility of Bitcoin really don't have to take anyone a surprise at a far range of fluctuations either appreciated or depreciated as long as long the digital coin could hover its trading rate values from the $0 and the $0.09 above til date. So as the volatility values of the coin rated $69K at 2021 in appreciations which has
also been depreciated to lower series of value rates and today it is around $37K yet 2021 history has not been surpassed.
Just as long as I am addicted to the Bitcoin volatility its value appreciations and depreciations can never have me a shock.
So @ OP, your optimistics to setup your Bitcoin portfolio at when the Bitcoin markets price is low may have you the tendencies of a long-term waiting.
You just don't hope on that to occur before you can set-up a purchasing budget. Just as we all who came into the system late are on regret why we didn't come earlier as the Bitcoin was introduced, this could also have you regreted in time after long-term waiting for a fail of the Coin before you could set-up a purchasing portfolio with a specific intension. If that doesn't happen in a close range of time, then it has proffered you wasted times waiting.

Don't panic, do some analysis and collect some bitcoins if you have more budget. I will be doing this for the rest of the year and hope it will benefit me for years to come. Don't sell at loss, that's good advice for anyone holding it so far.

Of course having a planned accumulating Bitcoin budget is a good one especially when engaged on the long-term goals of investment because it the future would always have the best when you opts out of yesterday and todays fear or experiences.
However, I love to advice that a Bitcoin accumulating budgets shouldn't gaze at only when the price is gone low but some specific periods of schedules such as daily, weekly or monthly also as yearly. But this is only possible if the Investor is a stable income earner on a diversification off his long-term Bitcoin investments journey.

[Falconer]

-snip-

I think a drop to 20k for bitcoin could still happen even though it has increased to 38k this month, there is still 1 month left before this year ends.
and more importantly, next year there are still several other issues before the bitcoin halving occurs.

Avoid more worries by increasing your optimism about the potential for good bitcoin prices ahead of the halving. I have removed $20k from my list of risks to consider since bitcoin broke $38k, but of course I can still consider some corrections that make many traders panic like a drop below $35k or $32k.

I expect a gradual increase until $40k is reached before the end of the year. I have high optimism about it in December, but whatever happens then I won't try to ruin long-term investment plans. Be strong for whatever happens even if the price can correct below $32k or deeper. As I write, bitcoin price is around $37,100, it is good to expect it to test resistance above it again at $38k.