Traders and analysts have been throwing around predictions that Bitcoin would drop to $85000, while others were saying it might hit $75000. Instead, it actually dropped to nearly $89000 and then shot back up past $100000 before reaching its all-time high. Clearly, those predictions missed the mark.
After hitting that ATH, Bitcoin went over $100000, but then it started to drop back down, which has been pretty spot-on. $100000 turned into resistance, then $99000 followed that, and recently it couldn't stay above $98000.
There’s a support level around $94000/$95000, but honestly, I’m hoping it holds strong, because if it breaks, we might see it tumble to another support level around $89000/$90000 after $91500.
So, here’s my question. I came across some news saying Bitcoin might drop to $85000. What’s everyone’s take on this now?
That was just a prediction, here's no news solid enough to push the price below $90k. It's not fair to talk about prices dropping unless there's clear technical analysis backing it up. Like you said, it dipped to $89k but bounced back to $100k, so that's probably the trend we'll keep seeing. Bitcoin is just moving within that range, unless a long correction decides to stick around.
That speculation is definitely from what they've analyzed, but others might not come to the same conclusion after making their individual analysis. Not sure of how they manage to analyze price in a long term, that speculation might still end up in the trash just as we've seen in the past. Besides, it's not even stated, when exactly the price will drop to that amount.
The only thing I've observed in the past few days is the strong resistance and support at $97K and $95K like you mentioned. $85K just seem weird, probably because I'm used to $90K and above.
Don't easily believe on prediction since we all know that no one can predict the movement of Bitcoin. Maybe they are basing those situation to come base on the movement also the current support on those figures they see that's why they think about Bitcoin might collapsed and reach to that predicted figures.
That's why I don't like to do any trades since its hard to get unnecessary stress from this situation and I think we can do more better if we just hold our Bitcoin since this kind of speculation and other sentiments will provably not gonna bother us.
The breaking resistance to the market falls are as results of declines of buyers so we've been unable to hedge a price floor even in this period and the more it keep falling is how unbearable mental investors are sentimental with the condition so they tends to sell at the initial price with fear not to meet further decline of resistance.
I don't it's possible to make this determination of bitcoin could decline to $85,000 but I'm seeing it on the way that the system is currently on market correction and it's being tempting investors emotions so they could sell in abundance and then it begin to boom leaving those who sold at fomo regrets while those on stable emotions are appreciated.
The encouragement should just be a hold to your values and don't be fumed with the market sentiments and loose out. The season variably be a trap.
There's a different approach for trading and investing. Investing long term is much easier because you can buy when you feel the market is bearish. But with trading, the market situation doesn't matter as much, you need an active strategy to stay profitable. The key thing to look for is high volatility, which creates more opportunities with huge price swings.
Personally share my opinion, The prediction you made that the price of BTC will fall to $85,000 is a fair prediction, but when some of my friends discussed this Bitcoin, they said that there might be a significant dumping in Bitcoin. They discussed that the price of Bitcoin could fall to $80,000 due to dumping. Then I wanted to know during the discussion with them how you are making such a prediction that the price of Bitcoin will come to such a position. Then they raised various issues, one of which was about Donald Trump.
It seems natural to me that the price of Bitcoin may fall because if the price of Bitcoin falls, it will not fall that much. As far as I predicted, the price of Bitcoin will be around $90,000. However, we can only make such predictions because there is no guarantee that the prediction will come true; we make various predictions depending on the market. However, I don't see any reason for the price of Bitcoin to fall below $90,000 at this time.
I don't think we'd fall off that harshly immediately? Even if the 94/95k support breaks 90k is still there. I reckon we'd last quite a few months between there and 95k before anything else imo. And the current movement of the market seems pretty natural to me? Like earlier on I already expected February to be a pretty standard month in terms of movement. Zooming out we can still pretty much see a straight line so no losses there reaally imo.
I reckon we'd be seeing more of what most people are looking for by april ish at least?
Its a highly anticipated correction or even lower than 85K is still good as long as theres no FUD backing it, just pure price sentiment for correction.
Low price means an opportunity for new investors to enter since some whales and retails is already unloading part of their holdings as take profit. This is a good opportunity to distribute Bitcoin to more holders rather than few whales holding the majority of the coin supply.
We have seen the support line has been broken in the $90k'ish if I'm not mistaken, but the market quickly bounce back and then move to $92k-$95k. But we can't discount the fact that still it's possible that we can go to $85k or even lower than that. I remember once speculation that maybe $70k is also going to be the lowest for this bull cycle. But after that we can double that lowest low and so that target would be around $150k-$180k which is still what the majority has been seeing as the top price for this bull run. So we knows, this is just the second month of 2025 and everything is possible at this point.
You have already explained why $85000 is the most predicted price for bitcoin to fall to, its because there is lots of liquidity down at that side, as an SMC trader it is a perfect place to have an order block placed at, because we all know how the market actually goes chasing the liquidity, the ones at $89000 have already been induced next up should be the $85000 but this will be possible only if there is a huge negative news in the market because current support at $95000 is looking very strong at the moment, although same as the resistance at the $98000.
For me if we remain in this ranging period for a while I think the market will actually go up to clear the up rather than coming down for the ones at the bottom reason been that this news around is anticipation for a bullish movement at the moment. But should that not stick and we get some negative economic news then it is possible the next low to be tested will be the $85000
You dont just need high volatility only, you also need the right knowledge to apply in order to predict well the right direction the market will go in order to stay profitable and not be rugged during the trade. Bitcoin volatility and price of bitcoin does not really matter to traders, they are just looking for opportunities always in the market to take on profitable trades using technical tools to predict the next move of the market. Market structure is more important to them than to what time or when bitcoin will reach an all time high. They risk more than holders and are opened to more opportunities than them in a short time.
I am not a professional trader but i can agree with the speculators that it is possible for Bitcoin to fall below $85000 closely $80000. Most times Bitcoin must lose something in other to gain another. In essence i meant the price mostly drops down below its previous ATH so that it will exceed the current ATH. But i think this period the flutuation and consolidation has kept us in a state of confusion not to know if we should be expecting a bull season or a bear season. Its more likely to be half bear season and a half bull season for the rest of the year.
It all depends on then predictions these people or analyst so called are giving, if we are to come in by the short time analysis for the market price, then we may say that the market is gradually indicating for more bearish moves and those intending to buy should wait or rather set a limit order on a lower price to buy bitcoin, but if we are going on the extended long term prediction, then there is much to talk about here, we have to apply lot of principles, speculation, candles at different levels, the economy situation, demand and supply and many other things well considerable before arriving a conclusion, because at the end, some will still tells that on the long run, bitcoin is still going bullish for now.
I think in both cases, there is a good opportunity to see higher levels than 107k. If a correction occurred or did not happen, then the long -term general direction is still prevalent.
This trend will be broken by landing below 75k, or 69k, then we can say that we may not see a fracture of ATH soon.
I don't think it can fall to $85, 000 but what I know is that anything can happen in the market, the support can be disrespected such as resistance can also be disrespected. When price starts to plunge, most investors can start to sell and the more selling, the more the price continues to plunge. If the price will plunge to $85, 000 and there's still more bearish strength, it can further go below $80, 000. Bitcoin price movement is not being to predictable for me this month.
I was looking for a gloomy or gloom based thread, you've cheered me up already. I do think we have especially more weakness in the price but I dont know it will matter beyond this week or month especially just yet.
If we look at the high in early November of 93.3k and todays BTC ' V ' low was 93.5k, I do think we have some idea of a line we may cross there. Its been the low for today and probably we wont cross it now but do consider are we about to remove that fence from the range bound moves to BTC price action.
If we can cross 93.3k then 85k as OP mentions is quite feasible. I cant think too positively till BTC can prove otherwise, just a simple bounce like that may not hold again on the next attempt downwards.
Im not that negative even at 85k, its really that the trend down if that formed then we can be far more gloomy then. Right now its just grumpy and subdued action, slow disappointment on the empty hype of politics and other stories; really common in people assuming we go up and it's not arriving or too late for the party.
At the end of the day, they are also speculating just like we are doing now, so there are only two possibilities: it might happen or it might not.
But I think in this case we don't have to worry too much about it especially if our goal is long-term because after all, before we have even gone through a period that is even much more difficult than today and we are still surviving so that for prices that are speculated as you say it actually will not have any impact on those who still believe in bitcoin but it can actually be a good thing for us to be able to make some things like buying again and again so that the portopolio we have is maintained until our goals are well achieved.
A lot of speculation is going on for now but if you think about it too much it will only make you feel excessively worried so just keep enjoying the process for now.
I've seen $94000 again today and I thought that it would continue to fall but it didn't. Went back to $95000 and now just moving onto that range. I also hope that the support will not be broken at $89000 because that's gonna tear apart the expectations of many that this is in a bull run happening. But worry not, we're still in a bull run IMO and these drops are necessary for it to recover back to $100000 onwards.
Well, on this market everything is possible and that's why volatility is our thing and even if it falls lower than that we only have to accept and move on.