Topic: Bitcoin bottom could be around the corner ! interesting chart ! - page 2. (Read 805 times)

thanks for explaining to him , i think people do not understand that adoption and price are not entirety related or attached to one another. what WinslowIII is also misunderstanding that just because price is going down it means adoption is decreasing. I am not very fluent in English but i do think his understanding of "adoption" is not right.

plus, I do not understand why is he mad at me  ? he could be losing money , might have bought btc for 15k and still hodling ! but this is not my mistake ! i am here trying to help for absolutely FREE of charge, if it is so hard for you to say THANK YOU then at least do not be rude.

Good luck

coins are being distributed---that doesn't mean users are disappearing. on the contrary: according to a recent study, cryptocurrency users doubled this year in spite of the crash.


its true that fundamentals aren't particularly important for price---price can go irrationally far in either direction regardless of fundamentals. that's just markets for ya. bitcoin in particular is hyper speculative because of its extremely scarce supply and lack of liquidity vs growing adoption. what matters most for price is sentiment, hype, and speculation about the future. scaling limitations are way down on the list---the typical investor doesn't know or care about them.

people were talking down the fundamentals and scaling weaknesses like you since before the 2013 bubble too. then bears employed the same arguments in 2016 and 2017 because fees were rising so much, but we bubbled again anyway. nobody cares about slow confirmation times and high fees when they think they can 10x or 100x their investments.

What do you mean by more adoption? people are fleeing in droves, have been for months. How is that more adoption than last Dec when people were coming aboard in droves?
And wtf do you mean nobody cares about fundamentals? for one, that isn't true. And for another, anyone looking to make money sure as fuck isn't going to stick it in the sinking rat ship of cryptocurrencies.
Wise ass.

What makes you think anyone cares about Bakkt? Hardly anyone talks about it. The few people that do are just BTC bagholders clinging to hope that good news will save the market. The market may not react much at all, just like it stopped reacting to ETF speculation. If it happens after a major bottom or capitulation, I think the effect will be minimal.

this is very true , most traders were so comfortable with the 5.8k to 6k  level, i was one of them, i had bunch of buy orders on that levels, and it paid out throughout the whole of 2018 , except for the last test, where i did lose quite a good amount, but the best part about TA is that the chart sometimes gives you a clear sign saying SELL the shit and get out.

i made this warning topic here after the break of the support > https://bitcointalksearch.org/topic/m.48030883

many people mock my TA's or in fact TA in general, and keep living under the illusion of "whales control the market" while that could be true, but small fish like us can make use of charts. i sold everything including ALTs when btc broke that support which was about 5600$. if i was to re-buy now, i will have almost doubled my BTC holding.

as we can not be sure of where exactly the bottom may be, i personally started loading BTC with more buying orders all the way down to 2.5k but should that level break i will short and wait for the next support at 1800$, if it fails, short and wait for 1100$. if you are not protecting your investments with a SL behind major supports then you are simply taking a one way ticket to rekt city.

I suggest to everybody to start learning TA, i see many people now calling for 1k and selling at this level which is very stupid, noobs always sell at the very wrong time, even if the price is going to 1k it is very wrong to sell now while we are just above this major support.

Definitely, most people in fact. I was always open to another leg down, but as a long term believer I'm always trying to hedge against the possibility that the next bubble starts developing. In 2015, it took me a long time to break out of the bearish mindset and stop shorting the market, and that's unfortunately kept me sort of biased to the upside during this bear market. I'm always afraid to get too bearish on Bitcoin.

It's purely speculation of course, but it could very well be institutions messing up the market behind the scenes. I really expected the situation to be different this time, because the fundamentals have improved significantly, but the users (i.e. get rich quick noobs) here are exactly the same as how they were back in 2013/2014/2015. It's almost like a routine market shake-out.

I didn't expect it to be this similar, but at least I managed to pick up the valuable inputs from the current bear market which I can have work in my advantage after the next bull run. It's all about learning from our mistakes and to not underestimate the market. I got a bit too comfortable with the $6000 level, and I'm sure many more people have.

Fundamentals now are better than last Dec , how is that relevant to price? BTC now has more adoption,more projects and in general it is technically and fundamentally stronger than it was during last year end, yet we are almost 85% down from ATH. i can tell you one thing and one thing for sure. nobody gives a fuck about fundamentals, investors will buy something that they can sell for a higher price and that's all about it. look at all the shit coins in the market, billions of $ are put in when nobody believes in any of those projects, but they buy them to sell them later for a higher price. so regardless of how bad fundamentals are, btc is going up so that it could be dumped again. rinse and repeat.

Considering that during a bear market every bit of bad news will more likely impact the price, it will be interesting to see whether or not Bakkt will be given permission to launch their Bitcoin backed futures.

If not, we might be up for even more blood on the streets. The CFTC might very well consider the current market to not be a healthy environment to launch these products in, all to "protect" investors.

Or they simply don't want any product that's backed with Bitcoin. Based on that, I think it's more likely to see Bakkt yet again delay their launch than to have them launch next month. We'll see what happens, but I'm not optimistic.

Really i don't know if the price will go to 2500$, but i can't be sure of nothing, anyway i will still hold and wait for the bull run even if will not start next year, i can wait, but i think in 2019 we will have a bull run.

Can't say I'm not liking the chart, but I'm now quite careful when we talk about lines that are never crossed yet or thresholds never broken. Bitcoin's been doing new things in the past 2 years, bucking RSI trends, breaking 30, 60 and then whatever-day average lines, so if we see BTC fall below 2.5k (certainly not implausible now) then yeah, we're pretty much in yet further new territory.

I'm "liking" 300 days of sideways movement though. It's what I'd been expecting for a long time, but if I've learnt any lessons, 2019's going to surprise in some fashion.

There is nothing firmly stating it could go down %85 before it takes off, I mean price doesn't really have to drop %85 exactly like it did previously, it could go down 90% or it could go down %80 and nothing would change. It will eventually go up that is the most certain part of this calculation, I am not sure what the bottom will be but I know the price won't be capped around here and eventually go back to previous all time high prices and go even above those prices, this maybe in couple months or in couple years but it will eventually happen.

What this tells all of us is that even if you buy right now and the price goes lower there is no need to worry because in couple years you will have an investment that made you quadruple of your investment and even more. We just don't know WHEN that will happen but we know it WILL happen.

This is a possible scenario indeed but between theory and practice, there is always a difference... Even if I like this situation enough, I don't think the same thing will happen. We are in unknown territory at the moment, and the sphere is really different compared to 2013-015, there are many more things to consider.


This.

Smart money is buying while everyone else is crying and screaming.  They do the opposite of what the mainstream noobs are doing.  There is just too much money in vested in crypto infrastructure for it to fail and a lot of people in government own crypto so they want to see it succeed.  One thing is for sure, this is thel ast chance we will have to get rich off crypto.

One thing i've learned that it's not really reliable to base things from historical charts anymore. That's why we're in this kind of mess since many people were expecting an upward turn since historically, charts indicate that last quarters of recent years were more bullish.

You screwed us! The whalecumulators are always scanning this forum to find opportunities to disappoint the plebs!

Or are you sent by the whalecumulators, to start this topic, to give us hope, and only for "them" to crash the market again?

most of the things you said here are wrong and all of them are irrelevant to price!
for starters most investors in bitcoin has never given a shit about its scaling. most of them are in it for the money or are in it for the freedom thanks to its decentralization and lack of government involvement.
as for altcoins, ICOs and all that crap, none of them are truly dead. they are just undergoing their natural course of getting pumped and then dumped. and again nobody gives a shit about KYC not to mention that there is no KYC more than it was in 2017.

all that needs to happen is for selling to dry up. nothing needs to fundamentally change or improve. it's just a matter of supply and demand. bitcoin's market value is mostly based on speculation about future adoption and future utility IMO. people aren't going to sell based on scaling woes any more than they did in 2016 or 2017.

there are two long term pivots at $3k visible on the monthly chart, and the monthly 50ma / weekly 200ma are both in this area. shorts are also near historical highs. so there's a confluence of technical reasons for a major bottom here.

We are really getting paranoid as the days goes by which we do really stressed out ourselves too much on the current market condition not only on BTC but on some alts as well.
Speculative market do have continuous speculative views so I'm aint surprised that we would able to hear out different numbers along the way.

it is scary in my opinion too but not because the two drops are similar (since they have absolutely no similarity) but only because the chart of these two times looks the same!
which makes wonder about the reason why we ended up seeing the same chart when the situation today has nothing in common with the situation back in 2013.