HUGE BITCOIN CRASH! Here's how LOW it Could It Go!!!!!!

 HUGE BITCOIN CRASH! Here's how LOW it Could It Go!!!!!

Forty thousand eight hundred and twenty three dollars and thirty fivecents that is the price of bitcoin as of the time of filming this artical down massively from its sixty four thousand all-time high  up a little bit because we did have a huge price drop earlier this morning i'm going to tell you about that in a second but you know people are freaking out and it's understandable i got this article here from coindesk check this out extreme fear grips bitcoin market after price plunge sentiment gauge shows okay .

They're using the scream that impressionist painting but actually let's actually have a look at the market um this morning from coindesk because we did have this huge drop down to thirty thousand dollars have a look at that 24 hour low 30 000 that's more than halved in value since um the all-time high of 64 000.

We had a few weeks ago as of the time well when i took this market we were up to 37 uh 37 000 and now we're up to over 40000 so you know i mean we're definitely up a little bit since that drop earlier this morning but uh that was crazy now a lot of people a lot of commentators online uh many youtube channels that i do respect a lot  have you know issued sort of price predictions about bitcoin how low will it go and many of them have been broken through okay one guy who i do respect a lot the other day was talking about a 43 000 resistance level for bitcoin. He was saying if it gets to 43000 and he starts to notice a turnaround. He's going to buy then all right and 43 000 has come and gone and we've gone all the way down to 30 000 and we're hovering around 40 000 right now.

So a lot of people have issued price predictions on bitcoin and really just people don't really know what they're talking about even the people who do know what they're talking about a lot of them admit that they don't really know you know what i mean anyway i want to take a different approach today and i want to give you some figures on how much bitcoin could drop that are gonna scare you all right but stick around to find out because this is actually it could help you with your investing and with actually finding the bottom okay so i'm going to give you some information based off of the bitcoin all-time high which it was then and then price. Trough back in 2017 and 2018.

So let's have a look at this market. You got 19783 that is the what was the all-time high at that time in december 2017 that was uh the peak of bitcoin at that time then bitcoin started to drop and it entered a bear market and it dropped all the way down until 3254 approximately one year later and let me just give a disclaimer these figures as well it depends where you get them from it depends you know the 19783 all-time high i think it did dip above uh 20 000 but it didn't close above 20 000 i don't know it depends which um you know exchange you're looking at as well so just in case you've seen slightly different figures just take this as an approximate so you had approximately one year from that all-time high down to its low of just above three thousand dollars guys okay one year that's a long time all right so if you're thinking hey how long's this you know bitcoin bear market gonna last well if you look back to 2017 2018 the bear market actually lasted a whole year and then once we start building back up again okay so from basically the beginning of uh 2019 it took a year and nine months a year and nine months for bitcoin to surpass its previous high okay just around twenty thousand dollars and that was the end um of last year and then we've had an absolute stratospheric rise i haven't included on the market chart but uh all the way up to 64 000 it's pretty similar to the way bitcoin rose uh in 2017.

It sort of rose steadily throughout the year and then towards the end of the year coming into full it just shot up huge guys followed by a huge drop okay so now i'm going to give you some figures that may scare you all right let's have a look at this so if we look at the 2017 to 2018 price drop it goes from 19 000 all the way down to 3 000. that's an 83.5 percent drop now if we apply that and this is just hypothetical because it may not be that way this time okay the market conditions are different but hypothetically if we apply that to 2021 and we apply an 83.5 drop we're going from 64 000 all the way down to 10 696 dollars ten thousand dollars guys ten thousand dollar bitcoin so if you invested up in the fifty thousand sixty thousand you're screwed okay well you're screwed on paper i don't wanna scare anyone and you know pressure anyone into selling okay because you know you've got to have diamond hands these things do go up and from that even though there's bad news like potentially you know if you're basing it off of the 2017 figures bitcoin really could go down to 10 000 but the good news is it really could come back you saw that a year and nine months to break through the previous all-time high so let's say you know a few months time let's say by the end of the summer bitcoin reaches its low okay maybe it'll be a year and nine months maybe it'll be quicker because market conditions have changed you've also got a lot more institutions holding bitcoin like tesla with this 1.5 billion dollars worth of bitcoin i think it was and uh elon musk actually just tweeted out today or yesterday tesla has diamond hands implying that basically you know they're not going to sell their bitcoin all right so with more institutions holding bitcoin i think it will actually have a stabilizing effect and i'm guessing that we're not going to see a drop all the way down to that 10 000 level comparable with a 2017-2018 drop that's just an opinion just a guess really in reality. 

I do not know okay i'm just trying to put it in perspective with you guys and showing you what could happen now if it drops all the way to 10 000 well it's buying season man i mean i'm gonna probably put like 100 grand in it or something no whatever we'll decide at the time basically though now. I've already started dollar cost averaging in so when i saw bitcoin down in the 30s. I started investing little bits of money here and there to kind of get a good average price if it goes down further i'll invest could drop based on 2017/2018 will it do that i don't know no one knows maybe we hit the bottom this morning at thirty thousand it's going to go up from here who knows but um just to put it in perspective you know always try to buy low sell high always buy the dips dollar cost average your way in and don't buy at all-time highs those are my top tips and you know with the price is a bit lower on bitcoin and all of the cryptocurrencies right now it's actually a great time to get in to you know investing in crypto of course don't put your life savings in it if you ask me i have only about 10 of my money in cryptocurrency about 10 of my net worth and actually that's just my liquid net worth not including properties and stuff like that if you include that stuff it's even less but it is a great time to get in start getting your feet wet in investing in crypto if you want to do that we've got a few apps you can use coinbase you can get ten dollars worth of free bitcoin if you invest a hundred dollars in any crypto. You can buy bitcoin you can buy dogecoin. Bitcoin and in dogecoin and a few other cryptos so if you're interested in investing.