Bitcoin Hitting $91,000 By March 2020 - Tom Lee, Fundstrat Global Advisors - page 2.

TheQuin

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Quote from: talkbitcoin on March 19, 2018, 05:28:03 AM

i never liked this type of speculation, where you look at previous patterns and then call a future one. like what this one is doing. but apparently that is something that many speculators do and i do believe that when enough people have the same speculation and enough people believe in that speculation it will happen!

it is the same "price drops first months of every year" discussion all over again.

That's one of the conundrums of markets, both of these statements are true:

1) Past performance is no guarantee of future results - just because it happened before doesn't mean it will again.

2) People repeat the same actions over and over again - markets are driven by human psychology, fear and greed, that leads to many repeating patterns of price movement.

And yes, I agree there is a certain amount of self-fulfilling prophecy about it.

talkbitcoin

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All I know is that I know nothing.

i never liked this type of speculation, where you look at previous patterns and then call a future one. like what this one is doing. but apparently that is something that many speculators do and i do believe that when enough people have the same speculation and enough people believe in that speculation it will happen!

it is the same "price drops first months of every year" discussion all over again.

TheQuin

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Quote from: Wind_FURY on March 19, 2018, 04:33:50 AM

The Dow Jones and other stock market indexes have seen the same kind of patterns for decades. Bull and bear trends are more normal than what the media makes us believe.

If you look at all the major bubbles that burst, like 1929 or the Internet bubble, they took decades to recover back to the same price. Bitcoin has done it 5 times in 10 years.

Wind_FURY

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Quote from: TheQuin on March 19, 2018, 04:01:04 AM

Quote from: Wind_FURY on March 19, 2018, 03:50:54 AM

Yes! We can then get both of the most positive outcomes in Bitcoin land. We become rich and we can witness John McAfee eat his own penis on national television at the same time. Hahaha.

But in all seriousness, I will believe when it, if I see it. Plus I would first like to see the "experts" predict where the real bottom is. Buying the dip is becoming scary.

haha

I take all projections with a pinch of salt. I certainly don't see any reliable way of forecasting exactly when something will happen. I was just a bit surprised to see such a positive piece in Forbes.

Maybe the people behind that piece are already all in on Bitcoin. Haha.

Quote

As for the bottom, it's when absolutely everyone is screaming about it all being over and saying it's going to $100.... so maybe now-ish.

Bitcoin climbing to $91,000 is more realistic than it falling to $100. I believe the 2018 pessemists are in the same level of delusion as the 2017 optimists.

Quote

The serious point about that prediction is the number of times Bitcoin has recovered already. We've had 5 major bubble and burst events and each time it has come back stronger. That's pretty unique.

The Dow Jones and other stock market indexes have seen the same kind of patterns for decades. Bull and bear trends are more normal than what the media makes us believe.

TheQuin

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Quote from: Wind_FURY on March 19, 2018, 03:50:54 AM

Yes! We can then get both of the most positive outcomes in Bitcoin land. We become rich and we can witness John McAfee eat his own penis on national television at the same time. Hahaha.

But in all seriousness, I will believe when it, if I see it. Plus I would first like to see the "experts" predict where the real bottom is. Buying the dip is becoming scary.

haha

I take all projections with a pinch of salt. I certainly don't see any reliable way of forecasting exactly when something will happen. I was just a bit surprised to see such a positive piece in Forbes.

As for the bottom, it's when absolutely everyone is screaming about it all being over and saying it's going to $100.... so maybe now-ish.

The serious point about that prediction is the number of times Bitcoin has recovered already. We've had 5 major bubble and burst events and each time it has come back stronger. That's pretty unique.

Wind_FURY

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Yes! We can then get both of the most positive outcomes in Bitcoin land. We become rich and we can witness John McAfee eat his own penis on national television at the same time. Hahaha.

But in all seriousness, I will believe when it, if I see it. Plus I would first like to see the "experts" predict where the real bottom is. Buying the dip is becoming scary.

TheQuin

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It's unusual to find a positive outlook for Bitcoin in the mainstream financial media these days but Forbes has published some research by Tom Lee, Fundstrat Global Advisors (link to article). The projection of $91,000 by March 2020 is based on what happened after each of the previous 'bubbles burst'.

They also recommend focusing on the main currencies as they see a shakeout of the 1,500 plus cryptos around at the moment.

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Topic: Bitcoin Hitting $91,000 By March 2020 - Tom Lee, Fundstrat Global Advisors - page 2. (Read 296 times)