Topic: Bitcoin won't top $9,000 by year's end, Novogratz says - page 4. (Read 757 times)
I believe time will tell if bitcoin is going to top $9000 this year or not but I think it will top especially now that we are hearing alot of good news and we are coming to the close of the year when cryptocurrencies activities do increase.
i hope there is a twist on that story like what happend the the pump most predicted it to10k and at 10k most predicted ot at 15 k but then is goes up to almost 20k, now they predicted 9k there must be story behind it, im excited on the twist LoL.
Agreed! A twist would really make it appear that they no nothing. But the twist should wait until Tom Lee first declares that he is giving up on his $20k by end of 2018 prediction hehehe.
The demand seems to have stagnated. So I would agree with what he says. There seems to be an over-supply of Bitcoin in the exchanges, and I don't know from where this is coming. A possible explanation is that Alexander Vinnik (or his friends) are dumping the stolen Mt Gox coins (a wild guess).
nah, the stolen gox coins were laundered through btc-e years ago. they've long been distributed back into the ecosystem.
but it's interesting you mention vinnik, and i do think there's a connection. btc-e relaunched as wex.nz last year. a few months ago, they suddenly stopped honoring withdrawal requests for BTC and other major currencies. the site is still up, but the situation hasn't changed.
i haven't verified myself, but i read about some blockchain analysis that points to a lot of their cold storage being emptied. my russian friend says the consensus is that wex shut down withdrawals and diverted customer funds to support vinnik's defense and eventual extradition to russia (rather than the USA).
that would certainly involve dumping some coins on the market!
The demand seems to have stagnated. So I would agree with what he says. There seems to be an over-supply of Bitcoin in the exchanges, and I don't know from where this is coming. A possible explanation is that Alexander Vinnik (or his friends) are dumping the stolen Mt Gox coins (a wild guess).
i hope there is a twist on that story like what happend the the pump most predicted it to10k and at 10k most predicted ot at 15 k but then is goes up to almost 20k, now they predicted 9k there must be story behind it, im excited on the twist LoL.
Agreed! A twist would really make it appear that they no nothing. But the twist should wait until Tom Lee first declares that he is giving up on his $20k by end of 2018 prediction hehehe.
i hope there is a twist on that story like what happend the the pump most predicted it to10k and at 10k most predicted ot at 15 k but then is goes up to almost 20k, now they predicted 9k there must be story behind it, im excited on the twist LoL.
If there is a twist then everyone will be happy to have their money multiplied,. But offlate bitcoin.has gained stability and it will be great even if bitcooin crosses $8000 mark because it would be growth with stability instead of sudden rise and then down to basic.This year will be most crucial so let's wait and watch what happens and then find a way to make profit out of it.
Well a twist can go either way, positive or negative. I just hope we get a positive one since a lot really are expecting the market to end the year on a strong note. It would be disastrous if the opposite happened to be the twist you've talked about.
i hope there is a twist on that story like what happend the the pump most predicted it to10k and at 10k most predicted ot at 15 k but then is goes up to almost 20k, now they predicted 9k there must be story behind it, im excited on the twist LoL.
If there is a twist then everyone will be happy to have their money multiplied,. But offlate bitcoin.has gained stability and it will be great even if bitcooin crosses $8000 mark because it would be growth with stability instead of sudden rise and then down to basic.This year will be most crucial so let's wait and watch what happens and then find a way to make profit out of it.
i am always happier when i hear people have given up on bitcoin and are skeptical about the price rise such as some of the comments we keep seeing on this board. because it is a good signal for a close by rise.
historically speaking all the big rises have always began after people gave up on bitcoin like the 2013 one that people love to quote this year. it ended with price at the bottom not going any lower and people being skeptical of the rise.
logically speaking it signals the end of bag holding newbies in the market with weak hands who will sell on the small recoveries preventing the rise to take place and also the stability itself shows the accumulation phase going on.
historically speaking all the big rises have always began after people gave up on bitcoin like the 2013 one that people love to quote this year. it ended with price at the bottom not going any lower and people being skeptical of the rise.
logically speaking it signals the end of bag holding newbies in the market with weak hands who will sell on the small recoveries preventing the rise to take place and also the stability itself shows the accumulation phase going on.
Former Fortress hedge-fund manager Michael Novogratz doesn't see much chance of bitcoin breaking out of its current slump.
"I don't think it breaks $9,000 this year," Novogratz said on stage at the Economist Finance Disrupted event in Manhattan Tuesday.
Novogratz, who predicted last year that the cryptocurrency could swell to $40,000 in 2018, said it will take until the first two quarters of next year for bitcoin to move above $10,000.
"I don't think it breaks $9,000 this year," Novogratz said on stage at the Economist Finance Disrupted event in Manhattan Tuesday.
Novogratz, who predicted last year that the cryptocurrency could swell to $40,000 in 2018, said it will take until the first two quarters of next year for bitcoin to move above $10,000.
I definitely agree with this Novogratz dude
Unless something out of the ordinary happens (a white swan of sorts), it is unlikely for Bitcoin to cross the $10,000 level this year. I would be happy to accept being wrong on this prediction but anyone who followed Bitcoin prices for at least a year understands that there is a huge resistance at around that mark specifically. Many people feel frustrated at Bitcoin "underperformance" as they are now waiting indignantly and impatiently when they can sell at breakeven and get done with crypto for good (at least, they are thinking so). I'm double-quoting the term since personally, I think that stable prices do more good than bad for Bitcoin in the long run as it helps foster and promote its currency aspect as opposed to a purely speculative one. But we should not discard the fact that prices in the range of 10k-12k were expected to be the ultimate bottom after the "correction" earlier this year (which was triggered off in late December, 2017), but as it often happens the majority were proven wrong all over again. Almost no one took my warnings seriously back in the day (note the dates):
With higher bitcoin prices, it could be a good practice to look at percentage shifts rather than quantity of dollars or other btc might be exchanged for. While the dollar amount of price shifts increases as bitcoin's price rises higher, the percentage rates of price shifts appears to be stabilising. Bitcoin is becoming less volatile over time, in terms of percentage shifts, as it becomes a more known phenomena and things like forks are better known and understood with a prior historical precedent.
Bitcoin is not becoming less volatile
Why do you people not read the OP? I mentioned there that Bitcoin is going even more volatile as the price rises. And yes, I mean relative changes, I think in relative changes if you please, i.e. changes in percentages specifically. I've even given an example above which proves that. Now we just need Bitcoin to go down as low as 6-7k dollars to prove me right. Or we could at first surge as high as 25k and then fall back to 10k dollars. This is not because of external factors affecting Bitcoin (though they certainly do). This is due to Bitcoin limited supply and the inverse relationship between Bitcoin supply and its price, most of the time
And they are now paying for their ignorance and out of hand dismissal of my point
one of the characteristics of bitcoin price rises has always been that it doesn't need a big announcement prior to the rise! it just happens and we can end up seeing the $9000 prices by the end of this week as the manipulative pressure by the accumulators lifts. otherwise this pressure stays until the accumulated forces against it become so big that it can not contain them anymore. in which case we can see a shoot up to $9k. in any case saying it won't happen this year is as bad a guess as those others saying it will reach $50k, etc.
What happened? Have the bitcoin bulls turned into cows? hehehe
Also, I predict that Tom Lee will also announce the same statement as Mike Novogratz's. There is nothing wrong in making mistakes, but the public already knew that it was a mistake before he could admit it. That is a good example of the mentality of a bagholder.
Also, I predict that Tom Lee will also announce the same statement as Mike Novogratz's. There is nothing wrong in making mistakes, but the public already knew that it was a mistake before he could admit it. That is a good example of the mentality of a bagholder.
good---this type of humble sentiment is required for any sustained market bottom. i'm glad we're seeing more and more of the permabulls become increasingly neutral. now if only they'd become bears.
the bagholders either need to liquidate or settle down and hodl for the winter. it'll take time for strong hands to overtake the market again. even if this long term triangle breaks upwards, there's lots of bagholders who will be selling into any uptrend.
i hope there is a twist on that story like what happend the the pump most predicted it to10k and at 10k most predicted ot at 15 k but then is goes up to almost 20k, now they predicted 9k there must be story behind it, im excited on the twist LoL.
I doubt this is a good example. These guys are not bagholders. They're speculators, just from the frequency they run off their mouths and spew predictions depending on the ebb and flow of the tide of sentiment. Also, permabulls can still make low guesses anyway, they're perma, not short-termers.
But hell, 9k not possible in the entire three months left we have of the year? What a timid estimate, anyone of us here could have pulled that out of our asses. Might as well have gone daring and say we won't be testing 8k.
Either way, happy to gain more when everyone else wants to sell!
But hell, 9k not possible in the entire three months left we have of the year? What a timid estimate, anyone of us here could have pulled that out of our asses. Might as well have gone daring and say we won't be testing 8k.
Either way, happy to gain more when everyone else wants to sell!
I did not say they are bagholders. I said not admitting to a mistake when everyone have already seen that it was a mistake is a good example of the mentality of a bagholder.
Also, ok maybe it is not about the bagholder's mentality, but the negative emotions from bagholding that are having an effect on the bagholder's mentality hehehe.
In other news, water is wet.
And Tom and Vinny have no fucking clue either.
And Tom and Vinny have no fucking clue either.
$9k estimate is still far fetched in my opinion. We even struggled to get past $7k and hold so it likely that he still pushes for a price that it is still good and make money out of it.
It looks like that right now, but just one spark is enough to turn this market into bull mode.
People go with the flow of the market. Last year around the prime days of the bull run most of the people here were so full of themselves, that they genuinely thought the price would hit $30-$40,000 in 2018. It didn't. Currently the bearish sentiment has the same effect on people, but then in the opposite direction.
I don't believe we'll see significantly higher levels this year, but a breakout facing north is definitely a possibility. It could peak at $8000 or $9000 who knows, but we'll break the $7000 level in the coming weeks, and when that happens, people will gain back some confidence.
Can't say I see much upside for now. I think we've already had the highest prices we'll see this year. From now on it's probably boring sideways and a bit of down. I'm still wondering whether this is treading water before some scary falls or things are too gummy to let them go much further down.
A couple months ago, I felt the same way. At this point, the sideways has gone on far too long to fit any conventional bearish pattern. Shorters must be exhausted after getting rejected every damn time for months. Sentiment has been so bearish, yet price refuses to fall, even when we made a lower low in June.
I'm still open to the bear case, but less so than earlier in the year.
It feels a bit too straightforward for the bottom to have already been and gone but maybe that's 2014/15 PTSD talking.
Either way I'd agree with him saying it'll be well into next year before something more promising happens, if at all.
Either way I'd agree with him saying it'll be well into next year before something more promising happens, if at all.
I remember feeling the same way in the summer of 2013.
Even if we break up from here, that doesn't spell new ATH to me. It could easily be part of a larger sideways range.
I see he said quite right
I think it can't even breaks $8,000 this year, We must look at the fact that investors are currently loosing confidence in the market
I think it can't even breaks $8,000 this year, We must look at the fact that investors are currently loosing confidence in the market
I doubt this is a good example. These guys are not bagholders. They're speculators, just from the frequency they run off their mouths and spew predictions depending on the ebb and flow of the tide of sentiment. Also, permabulls can still make low guesses anyway, they're perma, not short-termers.
But hell, 9k not possible in the entire three months left we have of the year? What a timid estimate, anyone of us here could have pulled that out of our asses. Might as well have gone daring and say we won't be testing 8k.
Either way, happy to gain more when everyone else wants to sell!
I agree. $9k estimate is still far fetched in my opinion. We even struggled to get past $7k and hold so it likely that he still pushes for a price that it is still good and make money out of it. His more of a media influencer, similar to the mold of John McAfee. Anyways, I'm pretty sure that he will spew more predictions in the coming months and say 'I told you so', if ever that $9k price is reach and every crypto outlet will sensationalized and say's Mike N. is correct again. Lmao. But hell, 9k not possible in the entire three months left we have of the year? What a timid estimate, anyone of us here could have pulled that out of our asses. Might as well have gone daring and say we won't be testing 8k.
Either way, happy to gain more when everyone else wants to sell!
Like what I had expected with a man that has been ranked a billionaire by Forbes in 2007 and 2008, As for the price we might see the highest price we can attain this year by end of October and bitcoin can likely to tripped down again and the $9000 mark price is much higher I suspected the price to be an unlikely a price that he might accustomed bitcoin to be at the end of this year, Ora price that he would likely bitcoin to attain at the end of this year, But at the end of this year and the next year bitcoin will sure stay in the bearish mode.
I agree with that reason, because it seems that it is unlikely that the market will recover with a short time after its deep decline. Many expect bitcoin to rise again at the end of the year, I personally don't. If I hope for that, then I think it's the same as an insane person if there will be a big increase at the end of the year. Somehow I feel it takes longer for bitcoin to skyrocket again.
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