Post
Topic
Board Bitcoin Discussion
Re: Bitcoin will drop to 20k is not time to buy btc now
by
kryptqnick
on 22/04/2021, 13:33:45 UTC
Peak of the market on 2017 was around 18k then it back down to 2k
This what happens when the price surge so quickly.
Now there is more adoption than ever so the price will not drop so much as before.
But it will drops 20k soon because early investors want to take profit and join on the bear markey this is how they  think.
Firstly, I don't think Bitcoin ever went back to $2k. The lowest point I can see on the price charts is around $3500 in December 2018. Secondly, this happened a year after the price reached the record high price (which was up to $20k rather than $18k, by the way), so it took a lot of time and also malignant activities by Craig Wright to bring the price to such a low point.
Apart from that, this bull run seems to be different from the previous one because the community is stronger and serious institutional investors are now backing Bitcoin up. Last time, the price barely managed to hodl around the ATH for a month (mid-December to mid-January), whereas this time the price has been largely above $50k for 2 months and counting.
That being said, I do believe that the price will eventually drop, and that buying at $20k in the future is a certain possibility.