Bitcoin price predictions from Twitter 5 years from now - page 5.

The Sceptical Chymist

legendary

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Quote from: cryptocrusher on December 11, 2018, 11:34:33 AM

There are only so many times a market can go through large bull and bear cycles and still survive. It gets harder each time people get burned to convince them to come back to investing in the future.

That's an interesting point, though I don't know how true it really is. I do know a lot of people have been burned with bitcoin and may never come back--but on the other hand, how many people do you think have been burned in the stock market in the past 100 years? The stock market still exists, and it still goes through bull and bear cycles, including times of extreme volatility.

This guy's prediction depends on an enormous IF, i.e., if history repeats itself perfectly. There's little chance it will and no reason to expect it should do so. To me, it's just empty words, very much like everything else TA people spout.

dothebeats

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Ahh yes, I remember so many threads and funny tweets from 2014 and 2015, specially here on bitcointalk where everyone thought that $180 is absolutely going downhill to double digits in a few weeks (I can't remember who that permabear was but he was active at the Wall observer thread). But yeah, bitcoin speculation spawns the most obnoxious, hilarious and illogical predictions to date, and I think that this is one part of crypto that you can't remove. We've also seen the rise of the believers of a cyclical market, correlating market cycles from the past and banking hard on the thought that it could well just be a repeat of the previous cycle--in this case it's Bobby Lee.

I guess you should hang out to the Wall observer thread to get a good laugh every now and then. Wink

bettercrypto

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Bitcoin price changes not based on cyclic pattern, but it is based on specilations. This is the problem with the market is that it is volatile in nature and unpredictable. Predictions are just predictions. Everybody here can create their imaginative idea. But, in the end it all depend on us whether to believe them or not.

avikz

legendary

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Instead of tweets, I found some old threads of bitcointalk. Funny to read at this point of time,

Thread 1:
Is the rally train leaving the station at $14?

Thread 2:
Price is 6.66

Thread 3:
Massive spike to $7 (then $15.9499) sunday 3PM BST at MtGox

Have fun!

Oceat

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What he just said was just a prediction and there are no bases whether his prediction might come true or not I only believe that it is all up to the market. Someone, before who, did predict what was the outcome of Bitcoin price but they all fail and what they expect was totally the opposite of what they wished.

Morpexmorpex

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bokser

Quote from: matjazsircelj on December 11, 2018, 10:34:01 AM

There's a lot of price predictions on Twitter, some more serious, some less, and some hillarious.

We could put together a list of predictions from people who are somehow important players in the crypto space.

Bobby Lee has a cool point (let's hope;):

If history repeats perfectly, then the current bear market for #Bitcoin would bottom out at $2,500 next month, in Jan 2019.
And then the next rally would start in late 2020, peak out in Dec 2021 at $333,000, and then crash back down to $41,000 in Jan 2023.
Something like that?🙂

https://twitter.com/bobbyclee/status/1071100283638280194

what the too unrealistic forecasts about 333000$ for one year.although all can be but all same. this is the market and can jump anywhere in any direction. my prediction is that bitcoin will be weakened at all. due to the market situation

Xardasim

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Quote from: hatshepsut93 on December 11, 2018, 11:19:39 AM

But is there any reason to think that the pattern will repeat itself again? It's just a belief, there's no fundamental reason behind this pattern, just because it happened twice it doesn't mean that it will happen again. On other markets, no one goes through the history of past cycles saying that the same price movements will happen again at a larger scale.

You are absolutely right. Without any analysis everyone is doing price analysis. There have also been traders who estimated the price of 50k or more for this year but now there is no one. I agree it is just guessing and there is nothing exact but by what way did he come to this conclusion?

kryptqnick

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Quote from: hatshepsut93 on December 11, 2018, 11:19:39 AM

But is there any reason to think that the pattern will repeat itself again? It's just a belief, there's no fundamental reason behind this pattern, just because it happened twice it doesn't mean that it will happen again. On other markets, no one goes through the history of past cycles saying that the same price movements will happen again at a larger scale.

There surely is not. Bitcoin has been seriously up and down more than twice and it took different amounts of time to recover and reach the new ath. Getting attached to some latest drop before the one we had this year is an empty groundless speculation.
I think it would be interesting to take a look at price speculations from the past now to see whether they were accurate at all. Okay, people mostly seemed optimistic about bitcoin between 2014 and 2015, but the predictions were really long-term, so we still have to wait to check them. But look at this sweet and very far from truth prediction: https://bitcointalksearch.org/topic/chart-my-prediction-about-bitcoin-price-from-2015-to-2017-1078976. That guy thought that a bit more than $1.2k would be great for bitcoin in December 2017! Unfortunately, though, if we take a look at the news from 2014th drop, it seems like people were staying optimistic, while a lot of negative predictions are available now. That's probably because back then only true enthusiasts cared about cryptos and now there are lots of egocentric business people who don't care about anything but fast high profits.

ATMD

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Quote from: cryptocrusher on December 11, 2018, 11:34:33 AM

Quote from: hatshepsut93 on December 11, 2018, 11:19:39 AM

But is there any reason to think that the pattern will repeat itself again? It's just a belief, there's no fundamental reason behind this pattern, just because it happened twice it doesn't mean that it will happen again. On other markets, no one goes through the history of past cycles saying that the same price movements will happen again at a larger scale.

Hope is about the best reason I can think of. BTC will be no different to any other market that eventually it finds a somewhat stable price point. There are only so many times a market can go through large bull and bear cycles and still survive. It gets harder each time people get burned to convince them to come back to investing in the future.

Hope springs eternal

BestSSS

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The same Bobby Lee recently talked about very different numbers, and now that the price has slipped logically that the view has changed dramatically.

cellard

legendary

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I have a collection of really bad predictions and generally bad moves. This one tweet is pretty funny looking back at it now:

Well funny for us, in retrospective if you are that guy it must be brutal. He would be so rich now, it's pretty crazy to think about. This puts a lot of sense into these thinking that it's the end of the world and think they missed the boat. Just buy the big dips and hold.

cryptocrusher

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Quote from: hatshepsut93 on December 11, 2018, 11:19:39 AM

But is there any reason to think that the pattern will repeat itself again? It's just a belief, there's no fundamental reason behind this pattern, just because it happened twice it doesn't mean that it will happen again. On other markets, no one goes through the history of past cycles saying that the same price movements will happen again at a larger scale.

Hope is about the best reason I can think of. BTC will be no different to any other market that eventually it finds a somewhat stable price point. There are only so many times a market can go through large bull and bear cycles and still survive. It gets harder each time people get burned to convince them to come back to investing in the future.

hatshepsut93

legendary

Activity: 3024

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But is there any reason to think that the pattern will repeat itself again? It's just a belief, there's no fundamental reason behind this pattern, just because it happened twice it doesn't mean that it will happen again. On other markets, no one goes through the history of past cycles saying that the same price movements will happen again at a larger scale.

Olaiasal11

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I saw her tweet. Mr. Bobby lee usually has an opinion poll. It may or may not be. He made predictions about Bitcoin's previous history.

matjazsircelj

member

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Merit: 10

There's a lot of price predictions on Twitter, some more serious, some less, and some hillarious.

We could put together a list of predictions from people who are somehow important players in the crypto space.

Bobby Lee has a cool point (let's hope;):

If history repeats perfectly, then the current bear market for #Bitcoin would bottom out at $2,500 next month, in Jan 2019.
And then the next rally would start in late 2020, peak out in Dec 2021 at $333,000, and then crash back down to $41,000 in Jan 2023.
Something like that?🙂

https://twitter.com/bobbyclee/status/1071100283638280194

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