Post
Topic
Board Speculation
Re: Abolute bottom of Bitcoin?
by
kryptqnick
on 23/05/2021, 10:55:37 UTC
What do you think, what is the absolute bottom of Bitcoin?
How deep could Bitcoin ever go, again in the next 5 years?

My bet ist 30.000 $. If we would fall way
lower then Bitcoin has probably failed for ever.
It's very hard to predict the future of such a volatile market, and all we can do is look at history for some insights, even though history might not repeat itself. The last time, Bitcoin was at the top in the middle of December 2017, and within two months, the price dropped to $8k. The dip with the price being less than $4k, however, came a year after the ATH point. This time around, the price was at the top throughout March and April and half of May (so it was 2.5 months at least, but arguably even longer if we count from BTC reaching $40k), and Bitcoin is 40% down vs the last time's 60% down point after two months. So clearly, things are happening slower this time. It should also be noted that IMO the price dropping to $4k was abnormal and caused by Craig pulling a lot of effort into this, so perhaps nothing like this will happen this time, and in that case, the dip will be reached in about a month, more or less, at which point the price will stabilize (give or take) and remain at around $25k for a year or longer. Of course, these are all just my assumptions based on what happened the last time, and they can prove to be very inaccurate because the past cannot predict the future.