Bitcoin price: Watchout for 30% decline in Bitcoin price, according to this indi

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Quote from: sheenshane on October 04, 2022, 06:49:10 PM

If the bear market will continue, that's the time for buying point of some whales which I think isn't a bad side of the market price, not unless, all whales will sell their holding which I think they didn't because they are smarter investors.

If there is no guarantee that all whales will sell their bitcoin then no guarantee that bear will go down more as speculated. Speculation has one think it creates in some people, that is fear but those selling out can only be a minor hodler and not the real whales that hodls a lot of bitcoin. Whales will not dump that hard for price to fall but they will like to hodl for higher price sale.

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Quote from: mk4 on October 04, 2022, 08:58:28 PM

Quote from: Fundamentals Of on October 04, 2022, 07:41:54 AM

But with regard to his market predictions, whether about fiat or Bitcoin, he might not have what it takes to be considered an authority. He doesn't have a solid credentials. But he has been a broken record with his advice to buy gold, silver, and Bitcoin.

Wrote a successful book about basic finance? Automatically thinks he's an expert with macroeconomics and that he can predict crap. Unfortunately, success can easily make people very cocky.

Unfortunately, they always think they are expert of everything and is ahead of everyone.
You see some people who have a successful journey financially in one aspect and was somehow recognised by not so many, they tend to gradually become an expert to everything, become a financial advisor, become a motivator.
This has become very familiar to me as I've listen to these fake successful people from a networking business. Some of them talks about crypto as if they are very expert with it lol.

cryptomaniac_xxx

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Quote from: sheenshane on October 04, 2022, 06:49:10 PM

We've seen a lot of people claiming themselves to a famous for predicting Bitcoin price in the market.
Which is the fact, they aren't.

Sorry for saying this but IMO, Kiyosaki seeking attention for his prediction for it might looking more followers to his social media account.

If the bear market will continue, that's the time for buying point of some whales which I think isn't a bad side of the market price, not unless, all whales will sell their holding which I think they didn't because they are smarter investors.

Well he did make a lot of money no doubt and has share some of his secrets and maybe someone has tried it but nevertheless it was not that effective. And yeah, nowadays, everyone is on social media trying to have many followers to bolsters their presence, including Kiyosaki.

Of course, we are in a bear market, so expect that everything is on a decline, majority of the altcoins might be dead or losing -90%.

While bitcoin will remain, it will also suffered a long bearish sentiments. And so let's see what will happen in January 2023, it his prediction will become true, nevertheless, I'm not going to just put everything on one guy, I will decide what I wanted to do with my investments.

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Quote from: arwin100 on October 04, 2022, 06:39:36 AM

Quote from: darkangel11 on October 03, 2022, 01:02:00 PM

Quote

Analysts at crypto intelligence firm IntoTheCryptoverse evaluated the Bitcoin price trend

Lol really?

This guy that's quoted there as "an analyst from a crypto intelligence firm" Benjamin Cowen is a youtuber who started making videos about bitcoin somewhere in 2019. The guy hasn't even been through a single bitcoin bear market and they're making articles about his bearish predictions, comparing him to people like Kiyosaki. Not saying that Kiyosaki has to be right and Cowen wrong, just that any idiot can make a bearish prediction in a bear market and it's especially easy when you're a youtuber who gets money regardless of whether he's right or not.

People easily believe on what famous people claims without doing any background checking maybe they became famous because they creating videos about it but it doesn't mean that they are expert and they are 100% accurate on their claims. Maybe they are good at forex if they are used to trade in thus area but crypto and forex is totally different so the analysis given by them is different, so we shouldn't get hype or fud on any statement since as other user stated anyone can give their own predictions either its bullish or bearish.

Well that won’t guarantee that if you are very famous and very influential person, whatever your prediction will always turn into reality. That’s not how crypto market works, most particularly with bitcoin. I mean bitcoin can easily go up or go down depending on the factors that trigger its move but the fact that you are giving certain predictions at a certain time, for me that is quite unbelievable and unreasonable. Regardless of what is your position in the society, no one can predict the market event precise knowing its highly unpredictable.

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Quote from: Russlenat on October 13, 2022, 03:28:40 PM

Quote from: mindrust on October 03, 2022, 01:26:49 PM

Technical analysis always suck and fundamental analysis don’t work on bitcoin so any prediction coming from anybody has no meaning. Kyosaki, Powell, Cramer or someone else… it doesn’t matter who is making these predictions. They are all pulling it out if their asses. The markets will either go upwards, downwards or sideways like it always do. The future won’t be an exception. If the price declines 30%, it will create a better buying opportunity. It doesn’t mean anything else.

Only newbies fall for this. Predictions will always be guesses, and there are no guarantees if it’s going to happen or not most particularly with bitcoin which is highly volatile. And add to that which is crypto market is very much unpredictable, so we will always expect that bitcoin price might go up or down, or even sideways, but that won’t lose the fact that bitcoin will always manage to recover and surge high again. So if it drops its value, then it’s not something to get panic as that would mean a new opportunity to accumulate and hold more bitcoin for long term.

Right, and it's just wild and educated guesses. One classic example is the S2F model by PlanB, which predicted by 2021 we will hit 6 digits, and everyone really fall for that. And who wouldn't, we almost got to it when we reach all time high last November.

But then again, we go on a bear market, and so all predictions like this one might not be hit. And so it's better for us to really just buy at the dip and hold.

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Quote from: mindrust on October 03, 2022, 01:26:49 PM

Technical analysis always suck and fundamental analysis don’t work on bitcoin so any prediction coming from anybody has no meaning. Kyosaki, Powell, Cramer or someone else… it doesn’t matter who is making these predictions. They are all pulling it out if their asses. The markets will either go upwards, downwards or sideways like it always do. The future won’t be an exception. If the price declines 30%, it will create a better buying opportunity. It doesn’t mean anything else.

Only newbies fall for this. Predictions will always be guesses, and there are no guarantees if it’s going to happen or not most particularly with bitcoin which is highly volatile. And add to that which is crypto market is very much unpredictable, so we will always expect that bitcoin price might go up or down, or even sideways, but that won’t lose the fact that bitcoin will always manage to recover and surge high again. So if it drops its value, then it’s not something to get panic as that would mean a new opportunity to accumulate and hold more bitcoin for long term.

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OP, it's about time you knew that Bitcoin doesn't respond or respect any perceived authority of economics or financial analysts. Some of us learnt this lesson the hard way. If the person speaking is a personality of high calibre with much followership, what they say can be emotionally followed whenever they make a call. I don't think Mr Robert Kiyosaki has that clout to motivate people into investing where ordinary they wouldn't. Being a great writer in the field of economics and monetary affairs doesn't mean being a great business manager. After all, if it were so the richest people on earth would've been professors of Economics 🤔. Whatever Kiyosaki says shouldn't be taken hook line and sinker without evaluation because one feels he's an authority. That's what I'm saying.

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Quote from: mk4 on October 04, 2022, 08:58:28 PM

Quote from: Fundamentals Of on October 04, 2022, 07:41:54 AM

But with regard to his market predictions, whether about fiat or Bitcoin, he might not have what it takes to be considered an authority. He doesn't have a solid credentials. But he has been a broken record with his advice to buy gold, silver, and Bitcoin.

Wrote a successful book about basic finance? Automatically thinks he's an expert with macroeconomics and that he can predict crap. Unfortunately, success can easily make people very cocky.

I keep saying this to people and they just do not see the failure in him. If he was such a great investor, he wouldn't need to be doing all of this, he wouldn't need to be a media person, just invest and get out of it because it will make you profit if you are good at it anyway.

He just said debt is good if it is assets, and you could buy a house, pay a little of the down payment, make the rest a loan, then renovate the house, refinance your loan now with higher amount, and get another house and keep repeating that, eventually you will have a lot of debt, but many homes, and you can rent them out and make it back "hopefully", and over course of many years, the debt will stay the same, whereas your rent price and home value will go up. This is it, this is ALL OF THE BOOK he wrote, I summarized it very shortly.

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Quote from: EarnOnVictor on October 04, 2022, 02:02:13 AM

I have read too many predictions about Bitcoin to the extent that I don't want to read about them anymore to avoid a conflict of interest. And since I know how to speculate well, I only follow my own trading advice, and it is working excellently for me with minimal losses. Aside from that, I was an ardent supporter of the selling of Bitcoin this year due to the overall bearishness of the weekly and monthly charts, but I changed in September because the tradition of Bitcoin itself is helping it not to fall beyond normal.

A lot of buyers are queuing at immediate lower levels now, which makes me know that Bitcoin will not have an outstanding fall anymore this year.

To me those are not even predictions but wild guesses, in order to make a prediction with a decent chance of occurring a lot of factors will need to be taken into account, technical analysis is not enough, the markets are in such a difficult situation that fundamentals and event unlikely events will need to be factored in, and since this is not the case then we can ignore those guesses and it is better to concentrate on your own strategies about how to deal with a market which is so unpredictable.

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Quote from: STT on October 03, 2022, 06:20:51 PM

We failed in the recovery from the June low but fell back to some level of support seen at Sept start and recently about 18.4k, there is a slight trend up but its not nearly as regular and structured as the initial trend up out of June lows. So BTC is weak but I wouldnt assume we must go downwards, plenty of times previous sideways has been enough as after all many major 'rich' FIAT currencies are registering inflation into double digits per year. A nominal price for BTC that stays flat then is actually already adjusting down steadily, a hidden but steady decline is a boring prediction to make.

The highest in June was 30.xxk and the lowest was 17.xxk. I don't know if after it we never saw 30k again but the price didn't stayed at 17k. Btc have done some recoveries which is still happier for me. That also shows that btc is not weak. Weak is when the coins shows no signs of life and most of all never stayed in this market for a very a long year.

A suspected 30 percent decline seem to be big already and if it happens on this price ranges we have now then maybe we can see another bottom within this year. Thanks for this warning anyway @OP. People are surely going to prepare a decent funds for this since this may be the last bottom before the bull starts.

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Quote from: Fundamentals Of on October 04, 2022, 07:41:54 AM

But with regard to his market predictions, whether about fiat or Bitcoin, he might not have what it takes to be considered an authority. He doesn't have a solid credentials. But he has been a broken record with his advice to buy gold, silver, and Bitcoin.

Wrote a successful book about basic finance? Automatically thinks he's an expert with macroeconomics and that he can predict crap. Unfortunately, success can easily make people very cocky.

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Quote from: arwin100 on October 04, 2022, 06:39:36 AM

Quote from: darkangel11 on October 03, 2022, 01:02:00 PM

Quote

Analysts at crypto intelligence firm IntoTheCryptoverse evaluated the Bitcoin price trend

Lol really?

This guy that's quoted there as "an analyst from a crypto intelligence firm" Benjamin Cowen is a youtuber who started making videos about bitcoin somewhere in 2019. The guy hasn't even been through a single bitcoin bear market and they're making articles about his bearish predictions, comparing him to people like Kiyosaki. Not saying that Kiyosaki has to be right and Cowen wrong, just that any idiot can make a bearish prediction in a bear market and it's especially easy when you're a youtuber who gets money regardless of whether he's right or not.

People easily believe on what famous people claims without doing any background checking maybe they became famous because they creating videos about it but it doesn't mean that they are expert and they are 100% accurate on their claims. Maybe they are good at forex if they are used to trade in thus area but crypto and forex is totally different so the analysis given by them is different, so we shouldn't get hype or fud on any statement since as other user stated anyone can give their own predictions either its bullish or bearish.

Doing your own research should be a thing so that people wouldn't rely too much on the news that mostly created by people who like to spread fud. And this is common to most website who are posting articles they would make such headlines so exaggerated to fish out the people and that would eventually create a fud.

If they've created a video just to claim something it better have some proof or else it's just a bluff. Making random prediction without a solid proof and I agree everyone can make their own prediction since no one is right.

sheenshane

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We've seen a lot of people claiming themselves to a famous for predicting Bitcoin price in the market.
Which is the fact, they aren't.

Sorry for saying this but IMO, Kiyosaki seeking attention for his prediction for it might looking more followers to his social media account.

If the bear market will continue, that's the time for buying point of some whales which I think isn't a bad side of the market price, not unless, all whales will sell their holding which I think they didn't because they are smarter investors.

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I feel like every time one of these people decides to post a prediction it's always to gain more followers and later sell themselves. Selling comes in different varieties. Youtubers want to sell their channels, book authors want to sell their books, people on trading view and forums try to sell paid predictions or access to special trading groups. It's always about money, so don't believe a word they say. Not a single one of them has any clue when it comes to patterns, because there's so many of them you cannot use all and have to jump from one to the other.

Harmonics, moving averages, rsi, market cycles, on chain data, some people even count days or weeks in the bull and bear market thinking that if the last bear market lasted for x weeks the next one will have to be the same or longer. I've read so many theories and all of them fail when there's a real problem like war or a virus.

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Robert Kiyosaki is a guy who managed to build and entire career out of a simple book that everyone knew about, but couldn't write in simple terms like him. He is more of an author than an investor if you ask me and he shouldn't be listened for any type of investment advice. At the end of the day, we are in a world where it is going to be quite hard to achieve something with just listening to others, specially people like Kiyosaki.

I agree that price will go up, and we should invest into bitcoin right now because there could be a big decline in dollar price, not in bitcoin price, and dollar will get more and more devalued for sure.

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Quote from: Eternad on October 04, 2022, 07:48:26 AM

No offense but you don't need to experience the actual bear market just to make technical analysis for prediction since all the previous data is already available in the price chart. In fact it's much easier to predict the future price using a lot of data from the rather than based on the actual condition of the market.

I honestly don't have any idea who the guy is nor I support him. I just want to comment on how people that start late in crypto can still give a valid prediction if they are really good on TA based on there trading portfolio.

None taken. I'm mentioning it because to me it's a proof of experience. When I see someone who's been there and who managed to predict the market in 2014 and 2018, I'm all ears. When I see a youtuber screaming we should be bullish when Bitcoin went up 300%, or the other way round when they see a 70% decline and say we have to go to 80 because the charts are telling him, I'm skeptical.

I also think that TA isn't everything. You can be a great analyst from traditional finances, come to bitcoin and suck at it. I know a number of such people who thought they were good, but they weren't.
Want a name? How about J.P. Morgan chief strategist Tom Lee?

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Quote from: darkangel11 on October 03, 2022, 01:02:00 PM

Quote

Analysts at crypto intelligence firm IntoTheCryptoverse evaluated the Bitcoin price trend

Lol really?

This guy that's quoted there as "an analyst from a crypto intelligence firm" Benjamin Cowen is a youtuber who started making videos about bitcoin somewhere in 2019. The guy hasn't even been through a single bitcoin bear market and they're making articles about his bearish predictions, comparing him to people like Kiyosaki. Not saying that Kiyosaki has to be right and Cowen wrong, just that any idiot can make a bearish prediction in a bear market and it's especially easy when you're a youtuber who gets money regardless of whether he's right or not.

No offense but you don't need to experience the actual bear market just to make technical analysis for prediction since all the previous data is already available in the price chart. In fact it's much easier to predict the future price using a lot of data from the rather than based on the actual condition of the market.

I honestly don't have any idea who the guy is nor I support him. I just want to comment on how people that start late in crypto can still give a valid prediction if they are really good on TA based on there trading portfolio.

Fundamentals Of

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I think the role of Kiyosaki at this point is just to convince others of buying Bitcoin. He may or may not succeed though given his track record but I think there are still some out there who are still looking up to Kiyosaki as somebody who knows what he's talking about.

But with regard to his market predictions, whether about fiat or Bitcoin, he might not have what it takes to be considered an authority. He doesn't have a solid credentials. But he has been a broken record with his advice to buy gold, silver, and Bitcoin.

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Quote from: darkangel11 on October 03, 2022, 01:02:00 PM

Quote

Analysts at crypto intelligence firm IntoTheCryptoverse evaluated the Bitcoin price trend

Lol really?

This guy that's quoted there as "an analyst from a crypto intelligence firm" Benjamin Cowen is a youtuber who started making videos about bitcoin somewhere in 2019. The guy hasn't even been through a single bitcoin bear market and they're making articles about his bearish predictions, comparing him to people like Kiyosaki. Not saying that Kiyosaki has to be right and Cowen wrong, just that any idiot can make a bearish prediction in a bear market and it's especially easy when you're a youtuber who gets money regardless of whether he's right or not.

People easily believe on what famous people claims without doing any background checking maybe they became famous because they creating videos about it but it doesn't mean that they are expert and they are 100% accurate on their claims. Maybe they are good at forex if they are used to trade in thus area but crypto and forex is totally different so the analysis given by them is different, so we shouldn't get hype or fud on any statement since as other user stated anyone can give their own predictions either its bullish or bearish.

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Quote from: EarnOnVictor on October 04, 2022, 02:02:13 AM

I have read too many predictions about Bitcoin to the extent that I don't want to read about them anymore to avoid a conflict of interest. And since I know how to speculate well, I only follow my own trading advice, and it is working excellently for me with minimal losses. Aside from that, I was an ardent supporter of the selling of Bitcoin this year due to the overall bearishness of the weekly and monthly charts, but I changed in September because the tradition of Bitcoin itself is helping it not to fall beyond normal.

A lot of buyers are queuing at immediate lower levels now, which makes me know that Bitcoin will not have an outstanding fall anymore this year.

It’s really good to have your own strategy which you can know the trend based on your own timeline. There’s a lot of downtrend analysis and it seems to be right because the market behavior is still negative and the price can’t still break above the resistance. Worst dump price is $10k, I don’t know if whales will catch on that price level or they will continue to make pressure with Bitcoin and sold their holdings further. Have time now to make a plan and make strategy, worst price is yet to be seen.

Topic: Bitcoin price: Watchout for 30% decline in Bitcoin price, according to this indi (Read 353 times)