Bitcoin is not going to $12k.

[doomloop]

$20k is where its gonna bottoms out, even we've seen $16k this year around but after the price recovering back i'm sure $20k is where people gonna bag it and thus gonna be the bottom of bitcoin.
even though this year i don't really think bitcoin gonna go past $30k since the current circumstance doesn't show that good.
but i'm sure though that in the future lik in 2024 and 2025 bitcoin gonna be regaining massive new all time high that gonna shocks many, bitcoin always known to make comeback after certain period of bearish run in which in this case
we've gotten too long of a bearish, and everyone is already making accumulation at the bottom i guess, so its only gonna go up in the next year though everything still uncertain.

I'm not even expecting it to go around $20k because the market isn't looking that weak at the moment. We have seen it going to $25k but then going back to around $28k after a few days and if it were to go lower, it would have gone there right after that. However, there can always be some negative news that might spread FUD and create a negative environment in the market and we all know what happens if something like that happens, people will start panic selling.

We can't stop panic sellers, there will always be some people who will start panicking when they see a small drop in the market and if they hear negative news. The reason for that is that they don't understand the market very well as they are new investors so they are afraid of losing their money.

[bitterguy28]

Although I used to think that before the bull season really arrived, we would have another dump waiting for us. But I believe there will be no new bottom for bitcoin, we already have the low for this bear season, and that was the $15k set last year.

that is too low to look at mate, 15k from 25k? I also think that we will not be seeing that at least not in this year?

Recently, there has been a lot of speculation about bitcoin dropping to 12k$-8k$ before the bull season arrives and I stumbled across this article. I want to know what you guys think and why you believe bitcoin will not drop to 12k$.

actually I did not buy those speculation ,  and that is stupid to believe 8K?

Personally, I also don't believe bitcoin will drop below $15k. And I think we have a chance to buy cheap and don't miss it.

Bitcoin is not Going to $12k 🚨

nor do I, not 15k and never 12k .

Here is why :

Don't miss the second chance. Act smart

Source: https://twitter.com/thescalpingpro/status/1694058998092439603

great graph , and yes with almost 94% of bitcoin being mined , we are looking for higher support price now at least 20k and above.

Precise prediction is really tough with bitcoin.

that's why its called prediction because there is no chance that it will be precise .

[Dickiy]

Although I used to think that before the bull season really arrived, we would have another dump waiting for us. But I believe there will be no new bottom for bitcoin, we already have the low for this bear season, and that was the $15k set last year.

that is too low to look at mate, 15k from 25k? I also think that we will not be seeing that at least not in this year?

Yes that's right, it's too low and too far, honestly for now I don't see any confirmation of price formation that indicates the price will bearish significantly and from $25k to $15 it's very far away, as you said for this year I also don't think it will happen, we can see how the formation of price direction from the beginning of 2023, I see there the bullish still dominates followed by several bearish corrections as in general and there has been no significant breakout in the support area in the last few months of this year. So that means for this year most likely bitcoin will probably experience more sideways phases in the range of $25k - $28k, and until the end of the year according to my predictions maybe the highest price is in the range of $37k, but let's see.

[Minecache]

Although I used to think that before the bull season really arrived, we would have another dump waiting for us. But I believe there will be no new bottom for bitcoin, we already have the low for this bear season, and that was the $15k set last year.

that is too low to look at mate, 15k from 25k? I also think that we will not be seeing that at least not in this year?

Yes that's right, it's too low and too far, honestly for now I don't see any confirmation of price formation that indicates the price will bearish significantly and from $25k to $15 it's very far away, as you said for this year I also don't think it will happen, we can see how the formation of price direction from the beginning of 2023, I see there the bullish still dominates followed by several bearish corrections as in general and there has been no significant breakout in the support area in the last few months of this year. So that means for this year most likely bitcoin will probably experience more sideways phases in the range of $25k - $28k, and until the end of the year according to my predictions maybe the highest price is in the range of $37k, but let's see.

Not just this year but as I said, we've bottomed out this bear season. I also believe we have more corrections left because if we rely on a 4-year cycle, the uptrend is still more than a year away. But for bitcoin to create a new bottom and lower than $15k is very unlikely and has never happened in the past.

About the price prediction at the end of the year, when people are constantly expecting and believing that bitcoin will surpass $35k or hit $40k before the year is over. I'm starting to fear that won't happen because during this bear season, I've seen bitcoin frequently move against crowd expectations and I think it will continue to do so. Presumably, we will still be under $30k before the end of the year, IMO.

[peter0425]

The reasons given in this post are actually valid and plausible. While we don't want Bitcoin to go to $12k, it is better to keep an open mind policy when it comes to a volatile market like Bitcoin. Nevertheless,  I am never thinking in the direction of any major dump that will take price that low.

even if we don't wanna go  yet it is the market to dictate mate, meaning we are not the one who will decide the faith of the market but whales.

Personally, I have learnt to apply DCA in managing my portfolio as I am strongly bullish considering the lineup of events from next year onward.

good luck with the result mate, hope that DCA will help you grow your folio.
 

[EarnOnVictor]

Although I used to think that before the bull season really arrived, we would have another dump waiting for us. But I believe there will be no new bottom for bitcoin, we already have the low for this bear season, and that was the $15k set last year.

that is too low to look at mate, 15k from 25k? I also think that we will not be seeing that at least not in this year?

Yes that's right, it's too low and too far, honestly for now I don't see any confirmation of price formation that indicates the price will bearish significantly and from $25k to $15 it's very far away, as you said for this year I also don't think it will happen, we can see how the formation of price direction from the beginning of 2023, I see there the bullish still dominates followed by several bearish corrections as in general and there has been no significant breakout in the support area in the last few months of this year. So that means for this year most likely bitcoin will probably experience more sideways phases in the range of $25k - $28k, and until the end of the year according to my predictions maybe the highest price is in the range of $37k, but let's see.

All I see in the market, for now, is a bearish trend and this might continue until a bullish reversal is activated. For this, I will not say that the market can't do a thing, I will only say that it's not feasible for now as we can't see the hope of hitting $12,000 at this time. Mind you, the step to hitting a very low target happens gradually and I will like you and the OP to note that if $25,000-$24,700 could breach lower, then it might be a disaster for Bitcoin as it might hit lower levels that might cause another lower level to be announced and perhaps breached.

In other words, we should hope that $25,000-$24,700 is sustained, if not, there might be some further unexpected bearish movements that might open the way that will make the target of the OP to be possible.

[blckhawk]

To be honest, I think we just have to let things roll how it will roll, let it happen. If the price arrives at that point then and there we would know if the market will still have the confidence of the people which will end up with them buying bitcoin when it goes to 12k or will they panic sell which will drive the prices even lower. I just hope that in the event it ever happens, I have already sold most of my bitcoin and then buy back at that price.

[tygeade]

Not just this year but as I said, we've bottomed out this bear season. I also believe we have more corrections left because if we rely on a 4-year cycle, the uptrend is still more than a year away. But for bitcoin to create a new bottom and lower than $15k is very unlikely and has never happened in the past.

About the price prediction at the end of the year, when people are constantly expecting and believing that bitcoin will surpass $35k or hit $40k before the year is over. I'm starting to fear that won't happen because during this bear season, I've seen bitcoin frequently move against crowd expectations and I think it will continue to do so. Presumably, we will still be under $30k before the end of the year, IMO.

That is true, I agree that is going to be the case for it as well without a doubt. A lot of people act as if this is a big deal where it could keep on crashing down but the reality is that it is not going to keep crashing down, we are going to keep doing better eventually.

We just need some patience for it and we need to wait for that time to come, maybe it doesn't look that bright at this moment but I bet you that it will start to look good after a while and after that it will not look bad for a very long time. The bull run is around the corner and it is about to happen, we may need to wait a bit more for it but when that comes in we are going to make profit like never before and the prices will hit new ATH.

[TelolettOm]

Although I used to think that before the bull season really arrived, we would have another dump waiting for us. But I believe there will be no new bottom for bitcoin, we already have the low for this bear season, and that was the $15k set last year.

We already experienced few big dumps, some bad news made significant drops in BTC price. But the price still can survive above $20k, it means there is a strong resistance above $20k. Although it is not impossible for BTC price to drop again below $20k, I believe it won't happen as long as there is no more terrible bad news. Sure, the bad news will always be possible to happen. But if it is just common FUDs, it won't impact significantly to BTC price. FUDs is no longer surprising thing, we are familiar enough with FUDs.

Recently, there has been a lot of speculation about bitcoin dropping to 12k$-8k$ before the bull season arrives and I stumbled across this article. I want to know what you guys think and why you believe bitcoin will not drop to 12k$.

I don't know in what way they can determine it. But I really doubt it if BTC will drop around $12k-8k$. The bearish period is almost over, we are heading the end of second year of bearish. Even there will be dump again, ideally it should be not very far from the current price.

[yohananaomi]

To be honest, I think we just have to let things roll how it will roll, let it happen. If the price arrives at that point then and there we would know if the market will still have the confidence of the people which will end up with them buying bitcoin when it goes to 12k or will they panic sell which will drive the prices even lower. I just hope that in the event it ever happens, I have already sold most of my bitcoin and then buy back at that price.

You can be sure that when the price is close to $20K, there will be many who will speculate, especially large traders who are looking for opportunities to maneuver, which could make the price go back down or increase again because they buy. I'm sure many will do the same as you and quickly sell when the price drops to $12K and buy at that price because of the opportunity to buy cheaply.But I don't think the price will fall below $20K because many people don't want to try to intervene, especially the big traders.

[Xcode7]

You can be sure that when the price is close to $20K, there will be many who will speculate, especially large traders who are looking for opportunities to maneuver, which could make the price go back down or increase again because they buy. I'm sure many will do the same as you and quickly sell when the price drops to $12K and buy at that price because of the opportunity to buy cheaply.But I don't think the price will fall below $20K because many people don't want to try to intervene, especially the big traders.

Nothing is impossible, but we also have to think realistically in seeing the possibilities that will happen.
So far Bitcoin's movement continues to experience corrections slowly, and throughout this year this has happened frequently, but not so deep that it is difficult to recover, so I think for the near future it is almost certain that we will not be able to reach the price of $12k.

I don't know in what way they can determine it. But I really doubt it if BTC will drop around $12k-8k$. The bearish period is almost over, we are heading the end of second year of bearish. Even there will be dump again, ideally it should be not very far from the current price.

Nothing is impossible, but we also have to think realistically in seeing the possibilities that will happen.
So far Bitcoin's movement continues to experience corrections slowly, and throughout this year this has happened frequently, but not so deep that it is difficult to recover, so I think for the near future it is almost certain that we will not be able to reach the price of $12k.

To be honest, I think we just have to let things roll how it will roll, let it happen. If the price arrives at that point then and there we would know if the market will still have the confidence of the people which will end up with them buying bitcoin when it goes to 12k or will they panic sell which will drive the prices even lower. I just hope that in the event it ever happens, I have already sold most of my bitcoin and then buy back at that price.

Taking advantage of the time/moment to be able to take advantage is something that must be done, but we also have to read the market situation if we have Bitcoin or want to buy Bitcoin, this is very important to minimize risk or take profit.
If the time of a significant decline has occurred, of course we must also be prepared.

[Out of mind]

Looking at the BTC market lines, we can predict where the next position is likely to go. Back in 2023, the BTC price list made a lot less sense, but we expected Bitcoin to be close to $45,000 this month. But the market changes that have caused the Bitcoin market to dump rather than grow. However, if we analyze the markets at the end of this year, then you can definitely expect to see the price of Bitcoin at $40,000. Since we have to be patient to see Bitcoin grow, we can see a good pumping of Bitcoin. As the Bitcoin halving occurs next summer and then the market crash begins, the Bitcoin price will peak. And we must be patient to get to that point, but we can see the BTC market at that point.

[JoyMarsha]

There are only a few months left in the year, and the price of bitcoin is yet to break the $25k range before the idea of a $12k price will start ringing in people's ears.

The price of bitcoin that I can foresee for bitcoin to go low is $22k. That's the lowest price I can say. Any price below that will be difficult to break before the halving and bull run starts.

Due to the approaching halving season, I believe the $12k pricing cannot be achieved. I would have agreed more that the price of bitcoin may drop to $12k if we were still in the first quarter of the year. Since we are not, but instead at the third quarter of the year, a $12k price will not be possible to come by.

[coolcoinz]

The price of bitcoin that I can foresee for bitcoin to go low is $22k. That's the lowest price I can say. Any price below that will be difficult to break before the halving and bull run starts.

I don't have such limits in mind. To me it doesn't really matter if it goes to 22k or 21k, or 20k... Al of this is below the 200 week average, below the fair price of bitcoin and probably already below the mining cost floor, although I haven't checked that for some time.
Bitcoin is already severely undervalued.
If it goes below 20k it's going to be even more. A rubber band can be stretched to a certain point, but you can't keep doing it forever.
In 2022 the cost of mining was already above 15k USD and it keeps going up. If you forgot to get on the train at 16k, you missed your chance.

[dunfida]

The price of bitcoin that I can foresee for bitcoin to go low is $22k. That's the lowest price I can say. Any price below that will be difficult to break before the halving and bull run starts.

I don't have such limits in mind. To me it doesn't really matter if it goes to 22k or 21k, or 20k... Al of this is below the 200 week average, below the fair price of bitcoin and probably already below the mining cost floor, although I haven't checked that for some time.
Bitcoin is already severely undervalued.
If it goes below 20k it's going to be even more. A rubber band can be stretched to a certain point, but you can't keep doing it forever.
In 2022 the cost of mining was already above 15k USD and it keeps going up. If you forgot to get on the train at 16k, you missed your chance.

Cant really stop those people who would really be thinking that the price might go down even more, we aren't really that removing those probabilities but knowing that when it comes to technical aspects and other factors

which we could actually check then there's no way that it could really be able to hit that low but well there's always the chance considering that this market isnt predictable since from the start.
I did really have that regret on missing out that $15k drop which i did make out some entry when it do hits up $18k which it isnt that bad either but it would be good if i did hit the sweet spot but since
im also those people who do really expect for that $12k but it didnt happen.

We do have strong supports now and one shows on 25k which it did make out some rebound at the time that it had been touched. We cant be sure if there wont
really be some breakouts later on or we would be seeing 30k once again.It is really that always hard to predict out if there are no news or sentiments around which would acts as a catalyst.

[Odohu]

Precise prediction is really tough with bitcoin. Unexpected incidents happening with bitcoin is the reason for the market upward and downward movement. Before big rise in the price there used to be fluctuation in the market. What we experience seems like regular market pattern. We don't know how far the price will go high or low, but in the upcoming days we can expect price reach around $20k and not lower.

I don't know how you come about the conclusion that we will see the $20k region again in the coming days. Even though I keep an open mind to every possibilities, price going back to that region is increasingly appearing unlikely. Just within 24 hours, Bitcoin have gained about 3.5%, this shows that price have not completely broken the $26k region. Now factor this in to how much time we have before first quarter of next year when the Bitcoin ETF is expected to be approved; you will see that price going to the $20k region will be a major surprise.  But then, anything can happen.

As for the topic of this thread which is Bitcoin going to $12k, that will have serious devastating effect on a lot of people who so much believe that we a bull market is in sight.  I sincerely what is motivating people to think of the $12k region again... to me we have long passed that region.

[South Park]

The price of bitcoin that I can foresee for bitcoin to go low is $22k. That's the lowest price I can say. Any price below that will be difficult to break before the halving and bull run starts.

I don't have such limits in mind. To me it doesn't really matter if it goes to 22k or 21k, or 20k... Al of this is below the 200 week average, below the fair price of bitcoin and probably already below the mining cost floor, although I haven't checked that for some time.
Bitcoin is already severely undervalued.
If it goes below 20k it's going to be even more. A rubber band can be stretched to a certain point, but you can't keep doing it forever.
In 2022 the cost of mining was already above 15k USD and it keeps going up. If you forgot to get on the train at 16k, you missed your chance.

Sometimes it seems as if people forget that bitcoin is a POW coin, meaning that just like gold it takes a lot of money to mine a single block, and as such there is a floor to how low the price of bitcoin can go, and if the price of bitcoin was manipulated by the whales and speculators to go lower than that then the miners will immediately respond to it by not selling their coins, diminishing the supply of bitcoin available at exchanges and eventually pushing the price to be above that level.

[rachael9385]

To be honest, I think we just have to let things roll how it will roll, let it happen. If the price arrives at that point then and there we would know if the market will still have the confidence of the people which will end up with them buying bitcoin when it goes to 12k or will they panic sell which will drive the prices even lower. I just hope that in the event it ever happens, I have already sold most of my bitcoin and then buy back at that price.

If Bitcoin goes back to that point, the demand in the market will be too much to the extent of net errors lol , a lot of people will lose and a lot of people will also gain. If, by any means, Bitcoin dropped to that extent, a lot of people will click the buy button and maybe before that time some investors will click on the sell button and sell their coins just like the way you are planing to sell if that time comes. Although some new investors who don't have the mindset of risking might not be involved any longer untill they start seeing how progressive the price is going.

Anyway, if Bitcoin comes back to the price of $12k, a lot of people will accumulate enough that they can afford it. I will also do the same, because my own investment strategy is just to accumulate more coin and never sell, until I am ready and I can never be ready anytime soon.

[STT]

If BTC has failed to break down as it was threatening that begins at least the start of a possible positive reflex reaction upwards.   It was only on a small scale so I dont know its enough to break the prior range but perhaps we can now trade above 26.5k for a day or more and take it from there.  Something new would be nice to occur.

[CryptoBuds]

To be honest, I think we just have to let things roll how it will roll, let it happen. If the price arrives at that point then and there we would know if the market will still have the confidence of the people which will end up with them buying bitcoin when it goes to 12k or will they panic sell which will drive the prices even lower. I just hope that in the event it ever happens, I have already sold most of my bitcoin and then buy back at that price.

If Bitcoin goes back to that point, the demand in the market will be too much to the extent of net errors lol , a lot of people will lose and a lot of people will also gain. If, by any means, Bitcoin dropped to that extent, a lot of people will click the buy button and maybe before that time some investors will click on the sell button and sell their coins just like the way you are planing to sell if that time comes. Although some new investors who don't have the mindset of risking might not be involved any longer untill they start seeing how progressive the price is going.

Anyway, if Bitcoin comes back to the price of $12k, a lot of people will accumulate enough that they can afford it. I will also do the same, because my own investment strategy is just to accumulate more coin and never sell, until I am ready and I can never be ready anytime soon.

Will people actually accumulate when bitcoin drops to $12k? Or will people get scared and keep waiting for the price to drop further and eventually no one will buy? If anyone has faith in bitcoin, the current price is suitable to buy and if it drops to 12k USD, we will buy more. As for those who do not dare to buy bitcoin at 25 thousand USD, I guarantee that they will not have the courage to buy bitcoin if it drops further. If people are willing to buy more every time bitcoin drops, then why does it drop that much?