Before Bitcoin hits 1 000 000 usd, it falls below 10 000 usd

[davis196]

First reason: Bitcoin price is now clearly overvalued relative the level determined by its public acceptance rate (if 100% acceptance rate means ca one million usd, then nowadays acceptance rate is not clearly 10% but rather something around 1%).

Second reason: if the economic crises will emerge, then Bitcoin falls much more than major stock indexes (just as during corona crises March 2020).

Aren't you contradicting yourself? How come Bitcoin is overvalued and the BTC acceptance rate is low at the same time? Having an extremely low acceptance rate would mean that Bitcoin is seriously undervalued, not overvalued.
I totally agree that BTC price is volatile and the price would drop severely, if a major economic crisis strikes the markets. The question is, will such big economic crisis occur anytime soon? I don't think that there's a big possibility for a global economic recession/depression to occur in the next 2 or 3 years. Maybe the global GDP growth will slow down due to Trump's tariffs, but this isn't such a big deal.
It think that the current absolute price bottom for BTC is somewhere around 70K USD. Expecting the price to drop down to 10K seems pretty unrealistic.

[Webetcoins]

Aren't you contradicting yourself? How come Bitcoin is overvalued and the BTC acceptance rate is low at the same time? Having an extremely low acceptance rate would mean that Bitcoin is seriously undervalued, not overvalued.
I totally agree that BTC price is volatile and the price would drop severely, if a major economic crisis strikes the markets. The question is, will such big economic crisis occur anytime soon? I don't think that there's a big possibility for a global economic recession/depression to occur in the next 2 or 3 years. Maybe the global GDP growth will slow down due to Trump's tariffs, but this isn't such a big deal.
It think that the current absolute price bottom for BTC is somewhere around 70K USD. Expecting the price to drop down to 10K seems pretty unrealistic.

He is just making up stuff that comes to him as ideas, and poses it off as stats or fact.

The reality is that we are already at a good enough acceptance, but accepting is not the number one reason, investing is, and people see bitcoin as a great investment all around the world these days, it has become something legit, like gold, or stocks, it used to be a lot lower, but nowadays even the richest people in the world and the poorest all do it.

So it's true that we will be a million dollars, but it is not overvalued, it's valued precisely where it should be.

There isn't an intrinsic value to bitcoin, whatever the price of bitcoin is, that is what it should be. We are only tasked with trying to see what it should be in the future.

[Frankolala]

Bitcoin will not dip to $10k anymore, that era is gone because the price keeps pumping overtime due to continous adoption of bitcoin by new investors. How do you expect the price of bitcoin to dip to $10k when we have big whales, institutions, governments and many more big companies using bitcoin as a store of value. Who will sell their bitcoin that will lead to such low price. Wake up and face reality.

[Swordsoffreedom]

Bitcoin will not dip to $10k anymore, that era is gone because the price keeps pumping overtime due to continous adoption of bitcoin by new investors. How do you expect the price of bitcoin to dip to $10k when we have big whales, institutions, governments and many more big companies using bitcoin as a store of value. Who will sell their bitcoin that will lead to such low price. Wake up and face reality.

To be fair, while the chances of that happening are low, it's not impossible. We should also be realistic that the future is unknown and anything can happen.

After all, bitcoin is still a new asset and although adoption is widespread around the world, but it is clear that the world is still very skeptical about it. They still don't really believe in bitcoin the way they believe in gold and other traditional assets. Top corporations like Apple, Nvidia are still on the sidelines or central banks are still refusing to add bitcoin to their national reserves, or many people still don't really believe and invest in it. Moreover, those who invest in bitcoin, most still consider bitcoin as a high-risk speculative asset. So if there is an economic crisis or world war, people are more likely to dump bitcoin than to choose it as a safe haven.

[ZAINmalik75]

Bitcoin will not dip to $10k anymore, that era is gone because the price keeps pumping overtime due to continous adoption of bitcoin by new investors. How do you expect the price of bitcoin to dip to $10k when we have big whales, institutions, governments and many more big companies using bitcoin as a store of value. Who will sell their bitcoin that will lead to such low price. Wake up and face reality.

Bitcoin nature is volatile just because of that no one can predict about price but touching again $10K is looking not possible realistically right now because many changes and soft policies while good reserves in many countries hinted about its stability.

Many big whales are having interest and good impact which make things into their favor having price of $1 million is now realistic, but its matter of time because It's also not easy surely going to take time between 5 and 7 years due to many strategically points sometime its feel pressure due to panic sells by newbies, but its never going to have any serious negativity on this and its chances for touching $10K again in near future.

[Botnake]

I am not sure if we will ever see Bitcoin at $10,000 again we have gone beyond that time now since we have witnessed a lot of resistance in the price but none have been able to take Bitcoin down that dip as it will be a trouble stage for all and Many investors will definitely get disappointed at that results.

There’s always high possibility for bitcoin price to reach $1m in the future as well as seeing price drops and corrections along the way, but seeing $10k before it touches $1m, the price gap is so much unbelievable. It could have gone below $500k rather than seeing $10k, although everything can be possible with bitcoin but if we want to see more valid expectations, I won’t fall for $10k price drop then.

However, we can always expect the unexpected. But seeing it turns to reality, surely the people would be feeling upside down and few would end up selling at a loss price then.

[terrific]

First reason: Bitcoin price is now clearly overvalued relative the level determined by its public acceptance rate (if 100% acceptance rate means ca one million usd, then nowadays acceptance rate is not clearly 10% but rather something around 1%).

Where did you get that acceptance rate? while it can be said that we're not even 10% of the world but the growth of it is noticeable for the past years.
1% is probably that low. If we're going to look at the market cap of Bitcoin, it speaks volume and probably it's more than that rate you've said.

Second reason: if the economic crises will emerge, then Bitcoin falls much more than major stock indexes (just as during corona crises March 2020).

Not really at all.
As you've mentioned the covid pandemic, that's when most markets were down and so as Bitcoin but it still did well.

[irhact]

Second reason: if the economic crises will emerge, then Bitcoin falls much more than major stock indexes (just as during corona crises March 2020).

Isn't it a good thing that the price will fall before it rise again, if there's already a guarantee that we'll be getting to $1 million soon then I won't have a problem buying when it fall below $10,000 as you're thinking. I'll be happy to buy more Bitcoin at that price but I hope it isn't just a flash fall but the price falls that low and stays that way for many months or upto years so that more weak hands can be selling their Bitcoin for the smarter Investors to be accumulating more Bitcoin. But I don't think the price will be falling that low because before that happens, people would have bought up all the Bitcoin getting sold for low prices.

[Ojima-ojo]

Second reason: if the economic crises will emerge, then Bitcoin falls much more than major stock indexes (just as during corona crises March 2020).

Isn't it a good thing that the price will fall before it rise again, if there's already a guarantee that we'll be getting to $1 million soon then I won't have a problem buying when it fall below $10,000 as you're thinking. I'll be happy to buy more Bitcoin at that price but I hope it isn't just a flash fall but the price falls that low and stays that way for many months or upto years so that more weak hands can be selling their Bitcoin for the smarter Investors to be accumulating more Bitcoin. But I don't think the price will be falling that low because before that happens, people would have bought up all the Bitcoin getting sold for low prices.

To some is a good thing that the price falls a bit before it go up again, that way their are able to buy at the discounted price, most of the things that we must pay much attention to is the entry and exit price for short term Bitcoin speculators, but for an actors I mean those that truly hold Bitcoin and for long term purposes it Worthy of note that having such a drop down in price already spoiled their long term plans and goals.


Must of us bought Bitcoin when the price was already above 20k dollars per Bitcoin, this make the whole deal to be tough on us as per how we manage to coup through the drastic dropped below our bought price.

[JaanusRaim]

Second reason: if the economic crises will emerge, then Bitcoin falls much more than major stock indexes (just as during corona crises March 2020).

Isn't it a good thing that the price will fall before it rise again, if there's already a guarantee that we'll be getting to $1 million soon then I won't have a problem buying when it fall below $10,000 as you're thinking. I'll be happy to buy more Bitcoin at that price but I hope it isn't just a flash fall but the price falls that low and stays that way for many months or upto years so that more weak hands can be selling their Bitcoin for the smarter Investors to be accumulating more Bitcoin. But I don't think the price will be falling that low because before that happens, people would have bought up all the Bitcoin getting sold for low prices.

Exactly ! It will be good thing for conscious investors. It is always a good thing if you can buy things cheaper.
 

[Hazink]

I am not sure if we will ever see Bitcoin at $10,000 again we have gone beyond that time now since we have witnessed a lot of resistance in the price but none have been able to take Bitcoin down that dip as it will be a trouble stage for all and Many investors will definitely get disappointed at that results.

We have indeed actually gone beyond that time, but we never said never as we can't predict the future completely; just that the era where such price could have easily been seen has passed. We are now in the era where if Bitcoin falls below $100,000, we will start talking about how it's dumping and try to figure out the cause of such a dump.

[JaanusRaim]

Bitcoin will not dip to $10k anymore, that era is gone because the price keeps pumping overtime due to continous adoption of bitcoin by new investors. How do you expect the price of bitcoin to dip to $10k when we have big whales, institutions, governments and many more big companies using bitcoin as a store of value. Who will sell their bitcoin that will lead to such low price. Wake up and face reality.

To be fair, while the chances of that happening are low, it's not impossible. We should also be realistic that the future is unknown and anything can happen.

After all, bitcoin is still a new asset and although adoption is widespread around the world, but it is clear that the world is still very skeptical about it. They still don't really believe in bitcoin the way they believe in gold and other traditional assets. Top corporations like Apple, Nvidia are still on the sidelines or central banks are still refusing to add bitcoin to their national reserves, or many people still don't really believe and invest in it. Moreover, those who invest in bitcoin, most still consider bitcoin as a high-risk speculative asset. So if there is an economic crisis or world war, people are more likely to dump bitcoin than to choose it as a safe haven.

Yes, yes the black swan https://en.wikipedia.org/wiki/Black_swan_theory
For me this bird is not surprise. Her emerging is just a matter of time, and I am very curious what will be the exact circumstances that surround this.

 

[STT]

Theres always a test lower so I agree with the concept and caution of the forth coming test but your magnitude is way off imo.   50k would be harsh enough and I think more then what we actually experience.
   I remember 10k, we were stuck there for years seemed like, limited and restrained by that big 4 to 5 digit switch perhaps psychological as a barrier but its done and the Dollar itself has lost alot of value since those prices were well worn.

A reasonable test now is about 100k or in that region, some magnitude based off that tide line. Sentiment will match there, if you wanted to call out far lower then we'd also have to say the ATH for this cycle is already set and done.
   It really doesn't feel like that kind of movement, we're seeing a pullback and like every other time its the end of the world as we know it but thats the fear and froth kind of sentiment recipe that is in the market for BTC speculation.  You have to ride the storm, this is just how it is as the selling is normal and imo necessary.

Look at DXY or dollar index for some grounding, Dollar isn't strong it has some weakness so the greater sell in markets isn't there especially.  Even above 100 I would doubt a forced sell, BTC is the stronger of the two for now at least even in a pullback as some in the market will be buying within the lower prices which eventually arrests the decline.

[Danica22]

Isn't it a good thing that the price will fall before it rise again, if there's already a guarantee that we'll be getting to $1 million soon then I won't have a problem buying when it fall below $10,000 as you're thinking. I'll be happy to buy more Bitcoin at that price but I hope it isn't just a flash fall but the price falls that low and stays that way for many months or upto years so that more weak hands can be selling their Bitcoin for the smarter Investors to be accumulating more Bitcoin.

It depends. That would be a very good thing if you have already taken profit or still have a lot of idle money to invest in bitcoin and that would be a golden opportunity for you. But if you buy bitcoin at a higher price and still haven't take a profit, or you don't have much money left to invest in bitcoin. If the price drops below $10k it will be a disaster for you.

That's why we always say that every correction is an opportunity, not a time to panic, but the reality is that not many people want bitcoin to go down and not many people are happy when it happens.

But I don't think the price will be falling that low because before that happens, people would have bought up all the Bitcoin getting sold for low prices.

Have you forgotten what happened in the previous bear markets? If I remember correctly, during the 2022 bear season, bitcoin also lost over 87% of its value before recovering.

[justdimin]

Isn't it a good thing that the price will fall before it rise again, if there's already a guarantee that we'll be getting to $1 million soon then I won't have a problem buying when it fall below $10,000 as you're thinking. I'll be happy to buy more Bitcoin at that price but I hope it isn't just a flash fall but the price falls that low and stays that way for many months or upto years so that more weak hands can be selling their Bitcoin for the smarter Investors to be accumulating more Bitcoin.

It depends. That would be a very good thing if you have already taken profit or still have a lot of idle money to invest in bitcoin and that would be a golden opportunity for you. But if you buy bitcoin at a higher price and still haven't take a profit, or you don't have much money left to invest in bitcoin. If the price drops below $10k it will be a disaster for you.

That's why we always say that every correction is an opportunity, not a time to panic, but the reality is that not many people want bitcoin to go down and not many people are happy when it happens.

Thinking that there is a chance for bitcoin to go under 10k makes absolutely no sense, so nobody should worry about taking profit or not taking profit because it is not important at all. We should only focus on what we are dealing with at hand, and if we do that then we are going to profit without much trouble. Of course it is not impossible to do this, of course we can do it, we just need to make sure it is not incredibly complicated for us.

This is why it's easy to just handle all of this at the same time, without needing anything else. If we do that, then we should be forgetting about it all, and we can do a lot better. Obviously this is just made up nonsense and 1 million is more possible than going under 10k, that's not going to happen.

[virasog]

First reason: Bitcoin price is now clearly overvalued relative the level determined by its public acceptance rate (if 100% acceptance rate means ca one million usd, then nowadays acceptance rate is not clearly 10% but rather something around 1%).

Second reason: if the economic crises will emerge, then Bitcoin falls much more than major stock indexes (just as during corona crises March 2020).

Well, are you in directly predicting the price of bitcoin in the next bear season? I am quite confident seeing the ongoing adoption of Bitcoin globally that Bitcoin will hit a millionaire dollar, or if not, at least half a million dollar in the next bull market. but that does not mean that it will touch to 10,000$ before that time. Secondly, Bitcoin fell to around 16-17K in the last bear market, and that was the bottom, so how come Bitcoin will reach even below that price in the next bear market?

I think unless there is some real threat for bitcoin, there is no reason why bitcoin falls to these low levels 

[goldkingcoiner]

First reason: Bitcoin price is now clearly overvalued relative the level determined by its public acceptance rate (if 100% acceptance rate means ca one million usd, then nowadays acceptance rate is not clearly 10% but rather something around 1%).

Second reason: if the economic crises will emerge, then Bitcoin falls much more than major stock indexes (just as during corona crises March 2020).

There is no reason as to why Bitcoin would fall to over 90% down. As far as economic crises are concerned, it would have to be something big, like a third world war, for my to even consider 10k Bitcoin. And honestly, even then I would doubt it. Because if something happens, Bitcoin is as far as I am concerned (as well as a large number of other people around the world) Bitcoin is still safer as a store of value than gold. Especially in times of crisis.

[YOSHIE]

Before Bitcoin hits 1 000 000 usd, it falls below 10 000 usd

Where such speculation comes, whether from you ....! or there is a source that strengthens the speculation ....! I am really curious about that speculation.

Honestly, I have difficulty trying to find the source of speculation, unfortunately not found I think $ 10k is too excessive to reach $ 1 million, whether it can be accepted with common sense or is that possible, I myself am not sure that will happen for $ 50k maybe half of the current price, and even then not sure.

We may hallucinate or speculate about the fall of Bitcoin prices or rising Bitcoin prices, but also see support for Bitcoin at this time, excessive speculation is also not good, which is real and accepted in the community.

[JaanusRaim]

Yes, there have been many many micro-level (or crypto-specific) crisis, but no macro-level economic crisis like 2008 or 1929 during Bitcoin lifetime.

Then short it or you are just full of shit. Show us your open short positions. 

The market can stay irrational longer than I can remain solvent. What if BTC price goes even to 130 000 or 150 000 before the crash?
If I am right, I need not to take such risk. 

[UmerIdrees]

Yes, there have been many many micro-level (or crypto-specific) crisis, but no macro-level economic crisis like 2008 or 1929 during Bitcoin lifetime.

Then short it or you are just full of shit. Show us your open short positions. 

The market can stay irrational longer than I can remain solvent. What if BTC price goes even to 130 000 or 150 000 before the crash?
If I am right, I need not to take such risk. 

Of course, this is not the time to short the market. Bitcoin is already finding its support near 108-109$ and from here onwards a pump is expected. Yup it can dump a bit more in the first few days of this month but then it will make anohter all time high.

Remember we are in the last few months of this year and this is the time when we can expect enthropia in the market for the bull market top, i can expect it will easily go to 150K and beyond and its minimum.