Call me noob, however I am 99.99% sure about my prediction. Simply we didn't hit our true bottom. There isn't any bull reversal yet. Once we hit our true bottom there will be a strong bull reversal plus fomo and a huge bull run.
Can you try to make us understand what for you or what amount is "true bottom"? As if I am reading it right you said that your prediction of 5,900 in late June is correct since it hit 5,766$ and now it is back above 6,130$, so I am confused what price point do you expect for Bitcoin to be its "true bottom"? And please explain why is that the true bottom. Volume being weak is also not a factor for prices to go down, sometimes when price are consolidating you won't really see any kind of major movement in the volume. I'll even worry more if prices are consolidating and the volume is rising, as that means there is a potential bull trap in the making. 
Topic: 4900 by late August - page 2. (Read 320 times)
yes it may happen and it may even go lower but the problem is the volume is pretty weak as you have already observed yourself and that in my opinion shows the fact that traders have left the market and they are staying away from it because it has become unpredictable for them (thanks to the manipulation of course). that leaves mostly whales themselves so they have to sell to their own orders if they want to crash the market any further and you don't make any profit that way because there is no more bitcoins left in the market to be sold to you so that you (as a whale) can buy more cheap coins and make profit.
It's a fair prediction. At that point it will be very interesting to see how the miners will respond, because till now all difficulty jumps hinted at miners being perfectly okay with the 'lower' prices. If we see a stagnation in difficulty jumps, or even a slight decrease, we know that miners are starting to get nervous. Right now the next difficulty adjustment is still +10% which is good so far, but we have a few days left before the actual adjustment kicks in.
I will prepare one major buy order once the miners are no longer signalling confidence, and that's probably when we are near the bottom.
Yes, it's still pure speculation, but at least I stick to my plan and won't regret anything afterwards.
I will prepare one major buy order once the miners are no longer signalling confidence, and that's probably when we are near the bottom.
Yes, it's still pure speculation, but at least I stick to my plan and won't regret anything afterwards.
I share the sentiment. Even I thinks that the last stronghold of the current price are the miners, seeing that the difficulty and the hash rate is continuously going up despite the beatings the price had received within the past few weeks. They will be the ultimate jury whether they're still okay with the current price or whether they'll pull out their assets. But from the looks of it, it seems that they are still confident with the price and can still make a profit despite the redness of the market. Once the miners shut down their machines for some time, I wonder what the bottom of this bear market will be? $4000 seems to be very likely but lower than that is pure carnage.
If $4900 breaks and digs dipper, we may indeed see a long term bear market, but nonetheless, as far as im concerned, this is a positive, as we'll get to accumulate bitcoin monthly with our wages, while idiots ponder again about why would anyone want to buy bitcoin "now that it is dead".
Get your fiat ready, we may be up for a great sale-off in which smart money will be able to attain respectable long term positions even if you are coming from a 0 BTC position. Just keep buying monthly and you'll be rich in the next decade. No excuses later by these that do not .
Get your fiat ready, we may be up for a great sale-off in which smart money will be able to attain respectable long term positions even if you are coming from a 0 BTC position. Just keep buying monthly and you'll be rich in the next decade. No excuses later by these that do not .
It's a fair prediction. At that point it will be very interesting to see how the miners will respond, because till now all difficulty jumps hinted at miners being perfectly okay with the 'lower' prices. If we see a stagnation in difficulty jumps, or even a slight decrease, we know that miners are starting to get nervous. Right now the next difficulty adjustment is still +10% which is good so far, but we have a few days left before the actual adjustment kicks in.
I will prepare one major buy order once the miners are no longer signalling confidence, and that's probably when we are near the bottom.
Yes, it's still pure speculation, but at least I stick to my plan and won't regret anything afterwards.
I will prepare one major buy order once the miners are no longer signalling confidence, and that's probably when we are near the bottom.
Yes, it's still pure speculation, but at least I stick to my plan and won't regret anything afterwards.
Yeah its possible, but being optimist doesn't think like this. I'm optimist that this price will not hit by late of August, because I know the market will start to move upward again. Yes, there still possibilities that we didn't hit the bottom yet, but no matter what the price would be, bitcoin will still be great.
this instability makes the bitcoin even more unique with its fluctuated base value. the price issue is now a hot conversation lately in the bitcointalk forum. many users who already cast predictions but not a few also missed. maybe you think the price will reach the number you mean at the end of August, but according to me personally, at the end of August, the price will rise slightly higher before the crash back in next October.
The price of the bitcoin is not stable as of now because if we can see the price they decrease and they increase. But we don't know what exact or spcific value of the bitcoin before end of the month or august or any months . We only predict the possible to happen.
Hmm yeah it's possible we don't know how much bitcoin will manage through this year so I'm in no place to judge it quickly since I'm no fortune-teller. All I can say that it's possible but it may have some major setbacks from the looks of it like from the past two year it shows similar vission lol.
My 5900 late June prediction was spot on since we hit 5766 as well. Now my new prediction is 4900 by late August.
I am perfectly aware that we may hit lower than 4900 by late August and even much faster as well, however I am just optimistic and I give you a moderate prediction.
If we hit 3900 that would be big trouble for everyone since then we can prepare for a multi year, prolonged bear market.
What is my proof for this predicition?
First of all the market sentiment.
Market is waiting for this sort of price. Also the volume is just weak at 6117.
It is no point to buy or sell at this price level.
Call me noob, however I am 99.99% sure about my prediction. Simply we didn't hit our true bottom. There isn't any bull reversal yet. Once we hit our true bottom there will be a strong bull reversal plus fomo and a huge bull run.
Enjoy your moves and good luck.
Regards
Daniel Simon
I am perfectly aware that we may hit lower than 4900 by late August and even much faster as well, however I am just optimistic and I give you a moderate prediction.
If we hit 3900 that would be big trouble for everyone since then we can prepare for a multi year, prolonged bear market.
What is my proof for this predicition?
First of all the market sentiment.
Market is waiting for this sort of price. Also the volume is just weak at 6117.
It is no point to buy or sell at this price level.
Call me noob, however I am 99.99% sure about my prediction. Simply we didn't hit our true bottom. There isn't any bull reversal yet. Once we hit our true bottom there will be a strong bull reversal plus fomo and a huge bull run.
Enjoy your moves and good luck.
Regards
Daniel Simon
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