Will Bitcoin ever be 20k again? Why or why not?
No one can precisely answer this question!
In my own opinion, this will not go beyond 10k anymore in short-term. The market is now exhausted and got injured during the crash (some would say a hardcore correction) that continues since end December. So, I would lower my expectation from the market for now. The recovery process takes months or years until the market gets the investors’ trust back. Honestly, I do not believe that the market will recover in short term and I consider every spike we have now as a short bounce (Bull trap). The chart trend is very bearish, and we need large trading volumes to break this bearish trend, which we don’t have it for now. So, there is a golden rule in trading when the market crashes: "recovering the trading loss begins with early cutting loss."
You have to know that big players are experienced traders who are also expert in the stock trading . These big players are now trying to influence and develop trading patterns in the crypto market similar to those in the stock exchange.
Here is a chart that shows the recovery episode from the crash of 2013 that took more than one year (Dec 2013-October 2015)!
Here, you can see that BTC could reach $1,000 again three years later after the crash of 2013.Will it go up?
Honestly, nobody knows whether or when this will pop up. So, I would be very careful and lower my expectation for now and move according to the market condition. Don’t fall into FOMO or the fake hype!
See the similarity in the trading volume to initiate the pump on the figure above (Which possibly indicates a try to initiate the pump by causing the sell-off artificially and buy them back. The buy/sell volume ratio during the second crash wave was approx. 1.5:1.0. Such events usually happen in unregulated markets to initiate the pump!). However, keep in mind that there are currently several negative news and the current chart trend is bearish (See chart above).
Further, you can find similar downtrend patterns (See chart above).Good luck!
Note: this is not an expert financial advice. Based on personal opinion.
This post has received a 2.14 % upvote from @drotto thanks to: @dasv.
bitcoin could rise again but probably not as fast at it did during the 5k-to-20k run, which is good, because it means that it's getting more stable.
@minnowfairy has given your post a 8.00% upvote! Follow @minnowfairy to stay updated on our latest programs and initiatives.
You got a 1.31% upvote from @allaz courtesy of @dasv!
Thanks for using Bid Voting Bot @allaz service and Steem Upvote Bot Tracker
I want to introduce you to my new friend @monsterbit in order to give additional thanks!
Do you know who is @monsterbit is? My friend, you can miss a lot. I highly recommend checking him with introduceyourself. He is going to hold interesting contests with cash prizes and promises to tell a lot of interesting stories!
Sneaky Ninja Attack! You have just been defended with a 2.10% upvote!
I was summoned by dasv. I have done their bidding and now I will vanish…
woosh
P.S. If you or anyone you know has been a victim of @grumpycat please know that he has been harming people throughout Sōsharumedia (ソーシャルメディア). Stealing the service that I (and other bots) have provided them and hiding behind a facade of stopping bid bot abuse which he clearly has no interest in.
Sneaky Ninja is a very responsible bot, working directly with steemcleaners, actively pursuing spam and abuse on our platform. If you would like to see what steps Sneaky Ninja has taken to fight bid bot abuse see this post and this post. Also know that I am working daily on other solutions.
If you would like to know my personal take on bid bot abuse and why I do not agree with the 3.5 day rule, see this post
Grumpycat is a villain that must be stopped to protect our freedoms here on steemit!
There is a resistance that has formed to counter his tyranny.
If you would like to take an active role in stopping this menace and helping other victims like yourself...
Learn More Here
I have also summoned my love, Kusari to offer some limited help to victims like you.
See Here