BTC's Current Situation

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gw31_2021Full Member
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#1Dec 11, 2020, 07:06 AM
So, we just wrapped up Q1 and kicked off Q2, and BTC is pulling some wild moves. It teased us with a possible pump back to 90k but then got shot down, hitting new lows instead. A lot of traders seem lost about what’s happening in the crypto scene. Projects are pushing back their listing dates, and things aren’t looking great for BTC at the moment. Do you guys think BTC could actually hit 103k this year, or are we looking at 50k or even less? What do you all expect from BTC this year?
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eric23Senior Member
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#2Dec 11, 2020, 03:16 PM
If you are asked the reason for the resistance, what would you say is the cause? It takes more than a quarter of a year to determine where Bitcoin will get to in the long run. the first quarter alone has brought with it almost everything you can think of; the second is just getting started, and we can't use a week's market reaction to judge what will happen at the end of the year. don't get scared away; keep holding.
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hash51Full Member
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#3Dec 11, 2020, 04:58 PM
In crypto, anything can happen, but for those looking to capitalize on volatility, preparation is key. When the market dumps, be ready to accumulate. And if it recovers as quickly as expected? Sell at your target price without hesitation. While it's tempting to panic over these collapses, remember that Bitcoin's market behaves differently than stocks. Its movements seem unpredictable to newcomers and skeptics, but those who've witnessed its history know - Bitcoin has always demonstrated remarkable resilience after every major dump.
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alex.shardLegendary
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#4Dec 11, 2020, 06:35 PM
Bitcoin is not yet going to $50000 for now. The price might fall more but the bulls will still wake up and buy more later which will take the price up to $100000 again. This will happen before the next massive bear market. Second quarter of this year may be dull but I know that the third quarter will be very interesting.
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HyperGweiSenior Member
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#5Dec 12, 2020, 12:34 AM
When it comes to expectations, I am sure we all share the same expectation that the bull season is not over yet and Bitcoin will soon rise again, even reaching ATHs in this circle. But even if we all expect and believe that it will happen, that doesn't mean it will definitely happen as we expect. Not to mention, the market often goes against the wishes of the crowd instead of pleasing the crowd. So while we can be optimistic and expect things to go our way, but we should always have a backup plan for the worst case scenario. The market is unpredictable, anything can happen and as a smart investor, we must always have a plan for every scenario. What are we going to do if bitcoin hits $103k or what are we going to do if bitcoin hits $50k? those are things we should be thinking about.
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benledgerSenior Member
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#6Dec 12, 2020, 12:57 AM
The same as it was doing yesterday, last week, last month, last year, it hasnt changed! The Bitcoin "market" however is doing what it always does, same as all markets its reflecting market sentiment. There is no need for panic or frustration because we have seen this thousands of times before. "everyone" - nah - just the ones who panicked! The majority of seasoned traders know exactly what to do but yea there are lots of traders who at the best of times dont know what to do! "the crypto market" - I like to differentiate between CRYPTO and BITCOIN.
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GigaSatoshiFull Member
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#7Dec 12, 2020, 06:29 AM
This is not something strange in the market we have seen and gone through this many times only FOMO investors will panic facing market conditions like this on the contrary for those who are experienced it does not mean destruction, if you ask bitcoin can reach 50k/103k I will answer yes because basically the market is unpredictable. My advice is to hold your assets if you buy at a high price, we have to believe that bitcoin will pass the previous ATH but no one knows when.
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calmomegaSenior Member
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#8Dec 12, 2020, 12:40 PM
Not expecting 50k. Honestly if we go to 70k the market might just immediately bounce back, preventing that 50k price. Unless ofc we're going to see that massive drop that the market has done in the past but if not, then I don't think we'd ever going to see a slow drop off to 50k, at least for this year anyway. And tbf you can consider the market state the actual state it should've been without all the election pump that we experienced, which wasn't really part of the cycle imo so I guess this is just normal? I reckon most are disappointed because they felt that 100k early this year but nah, a correction always follows as usual.
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fox_byteHero Member
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#9Dec 12, 2020, 06:46 PM
It depends on the extent of the correction. Any levels above $60,000 mean we could see levels above $107,000, and perhaps $140,000 or more. A correction below $60,000 is a negative indicator and may mean that we have already reached the ATH for this cycle, or at least we will not be far from $120,000 as the ATH.
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hodler2019Legendary
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#10Dec 12, 2020, 08:16 PM
If we are to copy 2021 67 dropped to 34 then went to 69 So 109 drops to 55 and then up to 110 this fall. Maybe maybe not. One could argue Trump tariffs in 2025 are like China banning mining in 2021
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node_walletSenior Member
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#11Dec 13, 2020, 02:11 AM
If previous circles are to be relied on to speculate Bitcoin price I will say that we are still in the bull run, from my research, one year after halving we are still in the bull circle. I want to believe that bear run could start in the last quarter of this 2025 and the first quarter of 2026, so I wouldn't worry yet about this further dump that we are experiencing now. My strategy is to hold and wait, I will not panic and sell like weak hands who don't believe in the potentials of Bitcoin. Even if bear run were to start now, it wouldn't mean that our Bitcoin is lost, another bull circle will come again, then another ATH.
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CalmNovaFull Member
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#12Dec 13, 2020, 02:59 AM
I feel like @OP was drunk while creating this thread. Bitcoin already hit $109K, but you're only hope Bitcoin will reach $103K? such number isn't what people wants, people want to see Bitcoin break new ATH again. Expecting Bitcoin would hit $50K will not likely to happen I think, if that happen, all people would panic because it's already too low. Trump tariffs might affect the whole economy, but I think they're still survive.
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d4rk5tackSenior Member
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#13Dec 13, 2020, 06:53 AM
In as much as i definitely correlate or liken this fall to the post China banning I think it is more of the same as the post COVID pandemic effect where the world was at a panic and market heavily crashed to its low level of $4k and then coming up to the then all time high of $65k. People like OP are just focused on the bitcoin and cryptocurrency fall but they fail to see that this is beyond just bitcoin as the entire economy is fluctuating due to the Tariff war, except this war ends or some agreement is reached that will easy the panic on the panic economy I think the market will remain this way for a while. But before Q4 I see us back above $100k again
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quantumninjaFull Member
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#14Dec 13, 2020, 12:27 PM
I can't say for sure what is expected on the crypto market, but I can fantasize. This year we are unlikely to see $100k, since the previous growth to this level was due to investor's expectations for future growth in connection with the US presidential elections and his loyal rhetoric towards crypto currencies, which did't come true. In my opinion, the price may fall to $50k by summer. In connection with what is happening on the US securities market now. If everything falls, then crypto currencies will fall too. If Trump achieves a reduction in the key rate, then the markets will begin to recover. I believe that by the end of the year we will see a recovered market. It is unlikely that bitcoin will cost $100k, but certainly not $50k by the end of the year. I expect something in between.
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atlas_2015Senior Member
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#15Dec 13, 2020, 02:22 PM
However the important thing is holding your Bitcoin because this is an opportunity that a lot of people won't allowed to slide away. Definitely bitcoin is going to reach $100k again this year and we are still in the month of April and we still have eight months before the end of this year. So we shouldn't be in a haste or sell our assets because of a little dip. Like I have said before now, this is an opportunity to buy more Bitcoin.
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atlas_2015Senior Member
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#16Dec 13, 2020, 07:43 PM
It isn't making a fool of anyone unless you think that whenever something dumps in value, it makes a fool of those who hold it or want to invest into it. The crypto market is doing well in these tumultuous times and a dump in bitcoin's price could be expected as Trump is more volatile with his actions than the markets themselves. It will stay like that for as long as Trump is president because he can send whole markets South with a single message on his Truth Social platform.
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vault_alphaHero Member
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#17Dec 14, 2020, 01:31 AM
No, Bitcoin is not making a fool of anyone, it's just that many people do not want to accept the reality, they just don't want to take a no for an answer despite knowing that Bitcoin has its cycle and that it will slip into the bearish trend in 2025. They expected that later, which is why they are paying for it now. If I'm not mistaken, the bearish warning started in February, and strangly, it was above $100,000 then. Strange right? If you know, you know, talk is cheap. Even if many didn't get the signal early, what about several weeks of warning afterwards? People like to follow popular voices, but they mislead at times.
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quantumsageFull Member
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#18Dec 14, 2020, 03:29 AM
Who is BTC embarrassing? This is normal because the market always has a sharp correction so you have to accept the reality but we are not panicking this is just Q2 starting. $103K is too low we predict that the range of $150K this year at least the highest $200K is still possible even if it doesn't happen for me it doesn't matter because it's time for bitcoin not to reach ATH anymore, but I remain optimistic that there is still a chance for bitcoin to go back up.
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SwiftOrbitSenior Member
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#19Dec 16, 2020, 10:34 AM
Predictions like $150k, $200k or $500k have been made amid market excitement, but what is happening now, the tariff war could cause inflation to spike again or worse, the economy could fall into recession...So those predictions are no longer feasible and many people are lowering expectations, not as many people are making high predictions as before. Many people don't even believe that bitcoin can surpass $100k by the end of the year or some are even more pessimistic that we have entered a bear market. Just because we predict, doesn't mean it will happen and predictions need to be adjusted to suit market conditions. Given the current tariff war and if nothing changes soon, I don't think bitcoin can reach $150k, let alone higher.
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yield_hawkSenior Member
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#20Dec 16, 2020, 04:29 PM
No one can answer as I was also surprised to see the price going down to $76k and we don't know if this is the lowest low that we will see for this year or this is just the beginning of the bear market, or just another test as we are still in the bull run and at the end of the year, we will see a bigger price. So only time can tell, of course we wanted to see around $150k or higher at the end of the year as that is our goal or at least that's what the consensus is seeing. But who knows, I'm just thinking that if we go $76k as the lowest then maybe we can x2 that in October-November-December and so $150k minimum all time high.
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