Bitcoin today at $ 16,581.20. What happened?

[Barbarellah 2225]

A great day for everyone!

After having surpassed the $ 17k barrier and even surpassed $ 19K, Bitcoin just hit the $ 16k floor a few hours ago. Many analysts had already predicted this rebound specifying that the $ 20k barrier would be a difficult target to overcome. The apparent reasons for this sudden fall are attributed to the fact of the increase in the index of fear and greed that has occurred this month, as well as the registrations of huge deposits towards most of the exchange platforms, which is a sign that the whales are preparing to intervene. In the same way, as the price of Bitcoin fell dramatically, in a short time it has been recovering, once again exceeding $ 17k. And if we carry out a technical analysis of the situation, we will see that long-term indicators say that buying pressure prevails. And today after all I still think that Bitcoin will exceed $ 20k in a few days. We all know how the cryptocurrency trade moves and we understand the volatility of their prices, so the events that are happening should not be a cause for alarm for any of us who participate in the forum. On the other hand, it can be an influential factor for the prices of our Token Talk to recover.

What do you think of what I just explained?

In your opinion, what factors have influenced Bitcoin to have had this rebound?

What do you think will happen to the price of Bitcoin and the other cryptocurrencies in the coming days?

As usual, I really appreciate your good participation as well as your positive reaction!

[Mella 3680]

It is a correction. I am had some expectation it can happen because of the high volatility in altcoins I was observed. I am hoping it will be the bottom and we can make a good run from this. Or there is also support at $16000 where it will be many buyers.

[hani20980 2706]

There is many reasons for this fall in bitcoin price from 19k to 16k but i think that the main

reason is that some whales sold high amounts of BTC and the other reason maybe is the

high resistance and big sell orders between 18900$-19500$ but i think the price will move

up again and it's just a matter of time before we will see BTC in 20k$

[annayks 2314]

I can't advice caution but it seems there are buyers at this level and unless there is a secondary level of whales trying to sell then the prices will stay there and will rise again. I still think there is a lot for Bitcoin to go and we can find another opportunity to buy some more if there is cash on the side. Maybe it will drop more so having a dollar cost average approach when buying the dip helps more.

[Syedbesharat 5423]

I was expecting this bit not at $19K but at $18K where the BTC run towards $20K and breakthrough the barrier. But this doesn't happen but BTC have strong support  at $16K and many people was waiting like to have some BTC before BULL run phase started this indicates the Bull run is expected at December 2020.

[Mansoor sumaan 29 0]

In my view there are two reasons behind the raising the value of the Bitcoin. 

First reason is the market to demand . The demand of Bitcoin is increasing the day by day in the normal daily usage and in online investments and trading.

The second reason is the downfall of the dollar as the prices of the dollar is devaluing so the prices of the Bitcoin is increasing as exchange of the valuing of the dollar .

This is a thing that I believe and it is my point of view maybe your point of view is different.

[hani20980 2706]

6 minutes ago, Mansoor sumaan 29 said:

In my view there are two reasons behind the raising the value of the Bitcoin. 

First reason is the market to demand . The demand of Bitcoin is increasing the day by day in the normal daily usage and in online investments and trading.

The second reason is the downfall of the dollar as the prices of the dollar is devaluing so the prices of the Bitcoin is increasing as exchange of the valuing of the dollar .

This is a thing that I believe and it is my point of view maybe your point of view is different.

We are talking about the decrease in BTC price not increase in next time

read the topic before you answer

[mahdititus16 216]

brother i can tell you something we are talking about the decrease in bitcoin price not increase in the next time read the topic before you doing the answer , that is so easy to learn , so aloso i can tell you good luck .

[MT khan 1886]

I think this is best time sells your bitcoin currencies decreases with rapid so don't take risk great chance for those who sells their bitcoin currencies because in market bitcoin has no more demand because of it highest prices.

[guatazoo 7150]

That's is something thats I don't like in cryptocurrencies, because the coins will be pumping massively of dumping massively also without any news release. 

[Maaz sultan 265]

Its will hit 20k target buy many difficulties appears ion the way that make high resistance in the place of bitcoin as we know the world is coming to these crypto currencies day by day but investors are not ready to enter because of high price now at this point they are confident that the price is down and it good time , 

In other hand the cases of covid increasing in some countries so it a desistance for bitcoin .

[isther69 521]

8 hours ago, Barbarellah said:

A great day for everyone!

After having surpassed the $ 17k barrier and even surpassed $ 19K, Bitcoin just hit the $ 16k floor a few hours ago. Many analysts had already predicted this rebound specifying that the $ 20k barrier would be a difficult target to overcome. The apparent reasons for this sudden fall are attributed to the fact of the increase in the index of fear and greed that has occurred this month, as well as the registrations of huge deposits towards most of the exchange platforms, which is a sign that the whales are preparing to intervene. In the same way, as the price of Bitcoin fell dramatically, in a short time it has been recovering, once again exceeding $ 17k. And if we carry out a technical analysis of the situation, we will see that long-term indicators say that buying pressure prevails. And today after all I still think that Bitcoin will exceed $ 20k in a few days. We all know how the cryptocurrency trade moves and we understand the volatility of their prices, so the events that are happening should not be a cause for alarm for any of us who participate in the forum. On the other hand, it can be an influential factor for the prices of our Token Talk to recover.

What do you think of what I just explained?

In your opinion, what factors have influenced Bitcoin to have had this rebound?

What do you think will happen to the price of Bitcoin and the other cryptocurrencies in the coming days?

As usual, I really appreciate your good participation as well as your positive reaction!

This type of falls is healthy for the price of BTC because if we see the past parabolic rises they are accompanied by falls of 20% to 30% so that the price gains momentum to continue the rise and it is probable that the price can reach to $ 20k to get through it and reach a new all-time high either at the end of December or in the first half of 2021.

[Joseph J 608]

I was thinking about that, what happen,it would pass 20k Bitcoin as we all know it is unpredictable to know that Bitcoin exceeds 20k at the end of this year the volatility of prices the market supply and demand these days I have been saving fractions of Bitcoin with having a little profitability. Maybe it fell a little to rise as a peak to 20k or more that we will see at the end of this last month of the year it's all a matter of analyzing and studying the price of Bitcoin,if it passed the 20k barrier this last month on December, analysts and experts could predict it.

[rekter 8129]

46 minutes ago, alexbofx said:

Great post friend, indeed bitcoin fell apart, I am planning to hold and I am waiting for the lowest point that next year can give us to be able to buy for $ 6000 and then go up in value, very good contributions, I hope We can also profit from this next year by looking for the best entry.

What kind of technical analysis are you using that is giving 6k for next year? I mean if we are going in 4 year cycles, next year it should peak. And scary amount of people agree on that so i am interested if you have fresh views on this.

[Teminali69 1081]

Some collections here and there, but I'm pretty sure it would recover soon, don't panic there is more reason for the price to recover.

1 hour ago, guatazoo said:

That's is something thats I don't like in cryptocurrencies, because the coins will be pumping massively of dumping massively also without any news release. 

It is not completely true that coins rises and falls without notice, if you follow up analysis and news you would mostly get a chance to know if a coin is going to rise or fall.

[velasco19 1753]

I think many people have a mental barrier in the 20K, these days there was a big wall of 1000 BTC in an exchange where we could notice the intention of taking profit for some whale.
Personally I was waiting for the correction because in technical analysis you could already see weakness in the movement and it had a bearish divergence, at this time bitcoin must consolidate an area for liquidity to enter the market and continue with our bullish projection.

[Abdulrahman3 1252]

Your expectation was in place and Bitcoin bounced back and went over the $ 19,000 mark again, and today all traders are betting on it and buying quantities of it, and this in itself is what will raise it beyond the $ 20,000,000.

[cryptovlek 2597]

Bitcoin is experiencing only small corrections so far. The reason is that institutions are buying from grayscale billions each month and grayscale is buying from the miners and from some exchanges using otc market. The whales alone without miners to dump in exchanges they can't do a lot to bring price down. So price jumped up to $28000 and probably going higher but there will come a time of a big drop as well. Our part was to help Bitcoin to new ATH after that it is what we see and we can't make correct predictions, it can go higher but there can be something that will push price down again.

[ABIR21 426]

Now bitcoins price is increasing.  It is the end of the year. Every years end time all coins price increase. My expect is bitcoin can be touch 30000$ in this year. 

[zhoutong 2188]

If you get scared with a small 10% correction then what will you do with a 20% or 30% as Bitcoin has been doing that a lot during the years. What I am afraid most is no correction and just price to keep rising without respecting TA. A huge upside move for many weeks will have more chance for the speed up of the top to appear and another two year bear market. We should be happy to see dips and corrections as this is trading and it helps prices in the long run. The problem is when you see price rising for months without a correction for Bitcoin.

[Malikjnb 1235]

I think it's price is very old now it's price is at 28k. It is the highest price of this year. Now it is at the top point. I think it value depends on the supply and demand when it's price is at 16581 I think it's demand is low therefore it go down.

[Roan 2166]

Honestly, my friend, I saw the enormity of the market money in Bitcoin. I saw the hidden numbers, they are constantly rising, they go down a little and go up a lot

Bitcoin has achieved huge prices, reaching the $ 30,000 barrier, and this is an amazing number

We hope TALK will recover along with the rest of the currencies, in order to make good financial gains

[susan8929 811]

I think that the 20k barrier was very difficult to overcome, but after that the price increased rapidly and now it is above 28k and it seems that it wants to overcome 30k.
I think the correction to 16k was healthy for the market, because it had been rising for several days in a row and it was necessary for the indicators to stabilize, as they were overbought.
I think that in the next few days Bitcoin should remain stable or make a small correction so that in a few weeks it will continue to rise. Although, in reality, everything seems to indicate that it will continue to rise.

[miskyming 1588]

Current price of bitcoin is now $28,000 so it's proven that bitcoin is unstoppable.. it is easy for bitcoin to reach high, it still increasing and the analysts predicted that it will difficult for bitcoin to surpass $20K? seems it was opposite because bitcoin can easily surpassed it and now bitcoin is trying to reach $30,000 before end of this year, let's see. 

[yonkii 3205]

Some times the market will correct when many traders will have met their targets and begin the process of taking their profits, exiting their long positions, or selling the assets they bought. This is what happens with trading. I don't know a lot when this happens but it means that traders take the price to lower levels as they begin selling for their correct predictions were affirmed and they have grown too much profit that they are not willing to risk more. But when this profit taking ends the market recovers and if it is a sharp recovery then the price ends going faster and higher, reaching new local highs.