Will Bitcoin ever be 20k again? Why or Why not?

[n0ne]

We must know that every price movement scenario will not be the same every time before the previous halving, so even though they predict the price will fall significantly before the halving, it is not certain that this prediction must be trusted. Even though the price is dropping going forward but the market price position will not be below the expected 20k, the crypto market is currently trending positively with a fairly good market recovery from the previous 25k price, we just need to wait for the next bullish moment to reach 40k before the halving.

I could recall vividly in 2020 pre-halving the market got a significant price decline due to the Coronavirus pandemic, but I don't know what event is going to get us down if that should happen again, and it depends on where the price of Bitcoin will be at the time when we will be approaching the next halving because if the price is above 30k and maybe if the price is somewhere between $40-50k, I don't see the market trading $20k during that time.

Most of the time price decline were connected with the market and the scheduled incidents taking place with the network. With bitcoin the halving is a major event and it is a known thing that the price will reach the peak close to the days. There is difference between the price reaching the peak and bouncing to reach ath. For this it always takes a downturn and bounces than just getting pumped from the highest point which is hard for the market to reach better price points.

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[fuguebtc]

A huge chance is there for BTC to get there again before making any new highs because there's not enough strength seen in BTC against USD and dollar index will also get one more retracement above 110 before it settles down back under 98 and less, so there's currently a possibility for us to see BTC under 20k (and even this year's low of ~$16500).

I have been thinking about that scenario since the beginning of the year when many experts said that inflation would continue to increase in 2023. But so far, what we have is that inflation is slowly cooling down and the Fed isn't going to cut rates anytime soon, but they're going to have to stop raising rates madly soon. Therefore, the chance for the DXY index to rise again is very unlikely, I think in the rest of the year the USD index will drop much. So very fragile and unlikely for bitcoin to drop below $20k, IMO.
Bitcoin will not recover quickly and there will be a correction until the halving takes place. But it won't be able to drop below $20k again, we had a bear season bottom of $16k last year.

I think Bitcoin should drop to expected levels before it goes up. Because when the expectation is met, the increase will be more robust. But I don't think the price will drop below 20k. Because we left those times behind. As we get closer to the halving, the anticipation rises, but I wait for a solid correction in the price first.

I wonder what predictions will hold up towards the end of the year. Negative news should not be made in the market. Good times await us towards halving.

As Franktoshi said, like 2020, the covid pandemic has caused bitcoin to be severely dumped before we enter the 2021 bull season. So there is still a chance for bitcoin to drop to $20k again but it would take a big black swan similar to the covid pandemic or an economic crisis like 2022 to do that. Other than that, I can't think of any reason why bitcoin would drop to $20k again.

According to recent charts shared on social media, in 2023, we officially end the bear season and what we are experiencing is preparing for the bull season.

[erep]

As Franktoshi said, like 2020, the covid pandemic has caused bitcoin to be severely dumped before we enter the 2021 bull season. So there is still a chance for bitcoin to drop to $20k again but it would take a big black swan similar to the covid pandemic or an economic crisis like 2022 to do that. Other than that, I can't think of any reason why bitcoin would drop to $20k again.

According to recent charts shared on social media, in 2023, we officially end the bear season and what we are experiencing is preparing for the bull season.

I don't think there are any other incidents that can drop the price to 20k again, the current global incident is facing inflation in various countries but whatever the case for inflation is not related to bitcoin, instead bitcoin provides the right solution to prevent the impact of inflation. The potential for other cases related to crypto may appear ahead of the halving period, such as the past binance US case or the top coin becoming a scam coin will affect the bitcoin market price, we will never know what will happen in the future.

We must manage the risk of loss to avoid unexpected incidents although some argue about the recovery period to prepare for the bullrun season.

[superman184]

I don't think there are any other incidents that can drop the price to 20k again, the current global incident is facing inflation in various countries but whatever the case for inflation is not related to bitcoin, instead bitcoin provides the right solution to prevent the impact of inflation. The potential for other cases related to crypto may appear ahead of the halving period, such as the past binance US case or the top coin becoming a scam coin will affect the bitcoin market price, we will never know what will happen in the future.

Because one never knows what will happen in the future to the world and crypto space, that's where speculation on conditions and prices always takes place because experienced observers will definitely make a bit of a reasonable analysis of this and will always see the impact what could happen to Bitcoin in the current inflationary conditions. Although personally I also don't expect bad things to happen to Bitcoin again because right now there are many people who really hope that price recovery in Bitcoin can happen as soon as possible.

We must manage the risk of loss to avoid unexpected incidents although some argue about the recovery period to prepare for the bullrun season.

I'd be more than happy to hold it while managing risks if the bullrun season really comes next year. Moreover, in a bull run one can also expect more price recovery in Bitcoin as well as in other cryptocurrency assets as well. But for now I'm just more concerned with price recovery in Bitcoin so still ignoring the others and not looking at it at all.