The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.

Bitcoin price might drop to $20,000 if THIS happens

Will Bitcoin price drop further? What factors contribute to the extended downtrend of Bitcoin? Let's analyze what could cause this crash.

By: Rudy Fares

Published: 05/19/2022|Updated: 11/24/2023

2 min read

Which topics should we dive deeper into?

Select what genuinely interests you. Your picks feed directly into our editorial planning.

Crypto news that's actually worth your time.

Weekly. 60 seconds. Carefully curated by our editors: no hype, no promo flood, no spam.

No spamPrivacy policy

The cryptocurrency market did not fully recover yet. Prices have definitely consolidated for the past few days, leaving renewed hope for a potential rebound. On the other hand, some analysts are predicting a further drop in Bitcoin prices specifically towards 20K. Will Bitcoin price drop further? What factors contribute to the extended downtrend of Bitcoin? Let’s analyze.

What is Bitcoin Crypto?

Bitcoin is the first cryptocurrency. Its inventor, the pseudonymous Satoshi Nakamoto, described it in a whitepaper as far back as 2008. It was ultimately launched in early 2009. Bitcoin is limited to 21 million coins. This is achieved by shrinking inflation that is halved approximately once every 4 years. Bitcoin is still the king among the cryptocurrencies, having the highest market capitalization and hashrate. It is considered to be the digital gold and the reserve currency of the crypto industry.

What is Bitcoin?

Buy Bitcoin

Where will Bitcoin Price reach in case of another Crash?

Bitcoin did not have any support/resistance areas when it broke the $20,000 price mark back in December 2020. Prices directly jumped from $19,000 to $60,000 without any adjustment. Looking at figure 1 below which is a monthly chart of Bitcoin prices in USD, we can see how prices went on a strong uptrend. This nonstop increase was fueled by heavy buyers from one side, and from mainstream media jumping on the crypto bandwagon.

Today’s adjustment comes with no surprise to experienced traders and investors. The obvious next support for Bitcoin prices is the strong psychological price of $20,000.

What factors will make Bitcoin price drop further?

There are many factors that can contribute to Bitcoin reaching $20,000 again:

Heavy selling pressure: When investors panic, they tend to directly liquidate without assessing the situation
Negative news: be it from the mainstream media, from influential people, or from countries…the whole world is waiting for any kind of news.
Weak buying power: This comes usually from uncertainty in the market and lack of any positive news
Failing crypto projects: When Terra collapsed, many investors started to doubt decentralization and created a selling pressure

Which topics should we dive deeper into?

Select what genuinely interests you. Your picks feed directly into our editorial planning.

Crypto news that's actually worth your time.

Weekly. 60 seconds. Carefully curated by our editors: no hype, no promo flood, no spam.

No spamPrivacy policy

Bitcoin Hits $100K Again – But a Crash to $60K Might Be Next

Bitcoin is back at $100K after dropping to $94K, but concerns are growing as BTC faces strong resistance at $104K. Will the bullrun continue, or is a major crash coming in January?

Rudy Fares

June 24, 2024 8:16 PM

Bitcoin News Today: Bitcoin CRASH OVER or MORE Down To Go?

Bitcoin Price Crash below 60k, and the crypto market follows. Why this decline and how low can it go?

Lorenzo Stroe

March 17, 2022 5:52 PM

Can Ethereum Price Reach 10K Thanks to ETH 2.0?

Can we still aim for ethereum 10k price in 2022? With the current crypto crash, many crypto investors don't think so anymore. Let's see why.

Prasanna Peshkar

October 29, 2023 6:54 AM

Is Bitcoin Price About to Make a Massive Move? The Bitcoin CME Gap Prediction That’s Turning Heads!

This gap is attributed to the non-stop trading of Bitcoin price on other platforms over the weekend, while the CME is closed.

Rudy Fares

June 11, 2022 4:38 PM

Crypto CRASH? This Analysis Predicts a Bitcoin price reaching $20,000!

Will Bitcoin reach $20,000 as some analysts predict? In this Bitcoin price prediction, we analyze Bitcoin from a technical perspective.

Rudy Fares

January 12, 2021 10:59 AM

What Will Happen to BITCOIN Prices? 2 Scenarios Traders are IGNORING

Today we look closely at how Bitcoin might react in the short -term, and plan out two potential scenarios that might arise. The recent price crash has been a highly discussed topic in the mainstream media. News outlets throwing potential scenarios right and left, touting readers to fear and panic instead of giving analyses about potential scenarios.

When can Bitcoin reach 100k again? (Hint: not anytime soon). Let's try to assess in this Bitcoin price prediction article.

Rudy Fares

July 29, 2021 10:32 PM

Bitcoin Price Prediction – BTC Breached 40K! Will it climb to 50K next?

What is next for Bitcoin prices? In this Bitcoin price prediction article, we analyze what has happened so far and give trade setups.

Alejandro Navarro

May 20, 2021 5:45 PM

Why did Cryptocurrencies crash on May 19?

Given the volatility of crypto, there is some normal anxiety on the market, but a series of recent events led to a severe crypto crash.

Rudy Fares

October 15, 2023 2:21 PM

Bitcoin Price Prediction: Will Bitcoin Price GO UP SOON?

As cryptos consolidate, most slightly lost in valuation. In this Bitcoin price prediction, we analyze whether Bitcoin price will go up soon.

Rudy Fares

July 29, 2024 10:29 AM

XRP Price Prediction: Will XRP Break Its Next Resistance Level Today?

With the current market uptrend, all cryptos are showing bullish signals. With XRP struggling to surpass the $0.60 resistance level, could this market surge help do it?

Rudy Fares

June 5, 2024 5:03 PM

Crypto Market Up: Bitcoin Breaches $71K, Altcoins Follow Suit, Eyes on New Highs

Cryptocurrencies are experiencing a surge, with Bitcoin leading the charge by surpassing $71,000. This bullish trend extends to altcoins, igniting optimism across the market. Will Bitcoin reach new highs?

Rudy Fares

February 19, 2024 4:58 PM

Bitcoin Price Resistance BROKEN! Will Bitcoin reach $30,000 again?

What's the road ahead for Bitcoin, especially with the $30,000 mark within grasp? Let's delve deeper in this Bitcoin price prediction.

Rudy Fares

October 14, 2023 12:42 AM

Bitcoin Prediction as Crypto Prices Stabilize…What’s Next in 2024?

As we delve into the performance of Bitcoin in 2023, we aim to provide a comprehensive Bitcoin prediction overview of its future movements.

Kieth Rean Garcia

April 22, 2026 8:22 AM

Bitcoin Price Prediction Before 2023 Ends

Explore Bitcoin Price in 2023, resiliently rising to $36,500. Predictions hint at $30,000-$40,000 range, shaped by sentiment and tech factors.

Prasanna Peshkar

March 7, 2024 8:09 AM

BIG FET Price Prediction: Fetch.ai Price Eyeing $5 Before Bitcoin Halving? Here’s Why..

Could Fetch.ai possibly hit $5 before the Bitcoin halving? Let's delve into this FET price prediction piece and explore it further.

Kieth Rean Garcia

December 25, 2023 5:28 AM

SOL Price Prediction: Can SOL Reach $150 Before 2023 Ends?

Analyzing Solana's (SOL) potential to hit $150 by year-end, focusing on market trends, key levels, and fundamental factors.

Kieth Rean Garcia

November 1, 2023 2:22 AM

SOL Price Prediction: Why SOL Pumped 25% In 7 Days?

Uncover the reasons behind SOL's remarkable 25% price surge in just 7 days. Read our analysis on Solana's recovery post-FTX crash, ecosystem developments, and DeFi activity boom.