Topic: BTC uptrend & downtrend (Current Situation) (Read 306 times)
Nice thinking. I am also finding the reasons for which people are being depressed and sad. Mostly people have invested in this sector without having proper knowledge and study. But if people do that carefully, they would not be sad and can make proper planning.
OP, it seems like your modus operandi is to make long term investments based on your assessment of the fundamentals of an asset (read: you're not a day trader)
Do you think it would be helpful to have the advice of someone with a similar investment approach and philosophy - and a proven track record, from whom you could get insights? I've often felt that having more resources like this would help folks make smarter investments.
Do you think it would be helpful to have the advice of someone with a similar investment approach and philosophy - and a proven track record, from whom you could get insights? I've often felt that having more resources like this would help folks make smarter investments.
I have the same views. The BTC historical prices show us clearly of the uptrend and downtrend. BTC recover every time, it makes no exception this time.
I think the realistic price of bitcoin last year was before the BCH hard fork, after that everything is just a hype. So as of now i think bitcoin has more bottoms to land before throttling to a new heights of above 20k. We need more patience and more money to buy bitcoins when it reach below 5k this year.
I agreed with OP, glad to see a calm guy here. BTC has gone through many ups and down since the past years, there is nothing to panic about. The past prices have shown that holding will bring the most profits for the non traders.
Yeah, you are right on your point. It’s not the first time Bitcoin is low in price. Every time it has recovered. And I don’t see any reason why it won’t recover this time. Rise and fall in price is nothing new in the market. Good days are coming, I believe.
This are the cause why people gets panic. Guys if you going back in the last few years we are all safe on it's current price and it's eventually grow day by day. Even if the market's get dump and i'm very excited on bitcoin price future.
It's going to go up eventually. Are you trying to calm people down, calm yourself down, or just gather opinions about the situation?
I have 2 clashing opinions about this trend. One is positive because I know that we're going back to 20k at some point and I know that we are not going to fall below 5000 USD. The other is negative because If that trustee dumps all the GOX coins at once no TA or tea leafs will help us.
I have 2 clashing opinions about this trend. One is positive because I know that we're going back to 20k at some point and I know that we are not going to fall below 5000 USD. The other is negative because If that trustee dumps all the GOX coins at once no TA or tea leafs will help us.
One of the reason why bitcoin had a major price crash is that a large number of people entered into bitcoin last year, 2017. When bitcoins value was already 14k$ huge investors and a lot of people joined in and bought bitcoin.
I'm sure that 80% of these new investors probably cashed out a long time ago, when Bitcoin dropped to around $10,000 and the weak hands couldn't maintain their position any longer.
It's highly unlikely that the recent drop was due to these, but rather due to a general uneasiness in the market, probably due to the length of time we have been in this dip, combined with the banning of ICO media.
One of the reason why bitcoin had a major price crash is that a large number of people entered into bitcoin last year, 2017. When bitcoins value was already 14k$ huge investors and a lot of people joined in and bought bitcoin.
Great post. You will notice that all the people claim bitcoin is dead, tend to be either newbie or jr members who have likely not even invested. They don't know that this cyclic trend that we see in bitcoin is a normal part of the process. Bitcoin rises up, reaches an all time high, and then dips for the next few months until the cycle repeats once more. This process has repeated for the past few years and is mainly determined by market sentiment and FUD. When there is no FUD, sentiment increases and a rally begins. This will likely be no different.
They dont think that bitcoin is dead but they are made to think like that way so that it can create FUD amongst them and thus they will sell it for the dust value. They here refers to the whales and big people who want to buy the coins at cheap rate from the weeks. However this is really not what I am interested in discussing.
I got somethign to talk on and thats this one:
Its your rough analysis but I do see a pattern here on how bitcoin recovers with increasing intervals. I think initially the prices were not much and thus BCT was able to recover it faster. Then the time gradually increased as the value increased too. So it means that with the current value and ATH window I am sure it will take more than three months considering the previous spikes.
I got somethign to talk on and thats this one:
Quote
k-->3k (it took 3-4 months)
3k-1.8k (dip, 40% loss)
3k-->5k (it took one month)
5k-->3k (dip 50% loss lasted for less than a month)
5k-->20k (2 months)
20k-->HuhHuhHuh
3k-1.8k (dip, 40% loss)
3k-->5k (it took one month)
5k-->3k (dip 50% loss lasted for less than a month)
5k-->20k (2 months)
20k-->HuhHuhHuh
Its your rough analysis but I do see a pattern here on how bitcoin recovers with increasing intervals. I think initially the prices were not much and thus BCT was able to recover it faster. Then the time gradually increased as the value increased too. So it means that with the current value and ATH window I am sure it will take more than three months considering the previous spikes.
1k-->3k (it took 3-4 months)
3k-1.8k (dip, 40% loss)
3k-->5k (it took one month)
5k-->3k (dip 50% loss lasted for less than a month)
5k-->20k (2 months)
20k-->
Based on the pattern you've given the typical dip takes us either to 50% of the price or to the beginning (bottom of the slope). If we were to follow this again, BTC should stop at half (10k) which as we already know was about to happen before the FUD info about the Korean government banning BTC came and ruined the day, or at 5k. Current situation with a 6k bottom is bullish. It shows that the support is higher than the average = the confidence is above average. Even if we were to get down to $5k it would still be a normal correction, because as you all know huge corrections usually end in depression (price below the mean level). 3k-1.8k (dip, 40% loss)
3k-->5k (it took one month)
5k-->3k (dip 50% loss lasted for less than a month)
5k-->20k (2 months)
20k-->
The 50% dip in my pattern were based on bitcoin doubling in price before it flies to 20k, when it shoot to 20k in less than two months from 5k, this is 4x of it's previous price, and the bear market is a fair reaction of that very hyped trend full of FOMO, GREED.
All the money that flowed into bitcoin until it hits 5k was money from investors/traders/commerce (smart money!), remember the china fud when btc dipped to 3k? it rebounded cause lots of smart investors were waiting for it.
from my own point of view, as long as BTC keeps trading above 5k maybe 4.k, it's very bullish long term.
But who knows? I could be wrong, this is just my own opinion, and thanks for sharing your thoughts.
Finally a well minded investors do their homework and do give informative data precisely dated. So that doesn’t need any more explaining to do. They’re too much talking, no sense and less of mindful prerogative. Those who doesn’t represent the idealist, but the conservatives who think what is right in the past is still significant in the future generations.
Exactly! To be a good investor, your mindset should always be in a long term perspective. Don't invest everything in crypto, always choose a thing(in terms of investment) that could be manipulated by you. Crypto may not be your ticket to have a financially good life.
Precisely, sometimes a good strategy wins versus big investment. No to hype or pumping of prices, but with legitimate project development. Bitcoin does have it all, but remember to be conscious when to buy and when to perfectly sell. Those who result panicking are the new investors who doesn’t trust bitcoin, but trusted FUDs and negative news who are totally just an scare tactic from whales or competitors.
Op post been merited by me. Positivity deserves it.
1k-->3k (it took 3-4 months)
3k-1.8k (dip, 40% loss)
3k-->5k (it took one month)
5k-->3k (dip 50% loss lasted for less than a month)
5k-->20k (2 months)
20k-->
Based on the pattern you've given the typical dip takes us either to 50% of the price or to the beginning (bottom of the slope). If we were to follow this again, BTC should stop at half (10k) which as we already know was about to happen before the FUD info about the Korean government banning BTC came and ruined the day, or at 5k. Current situation with a 6k bottom is bullish. It shows that the support is higher than the average = the confidence is above average. Even if we were to get down to $5k it would still be a normal correction, because as you all know huge corrections usually end in depression (price below the mean level). 3k-1.8k (dip, 40% loss)
3k-->5k (it took one month)
5k-->3k (dip 50% loss lasted for less than a month)
5k-->20k (2 months)
20k-->
Finally a well minded investors do their homework and do give informative data precisely dated. So that doesn’t need any more explaining to do. They’re too much talking, no sense and less of mindful prerogative. Those who doesn’t represent the idealist, but the conservatives who think what is right in the past is still significant in the future generations.
Exactly! To be a good investor, your mindset should always be in a long term perspective. Don't invest everything in crypto, always choose a thing(in terms of investment) that could be manipulated by you. Crypto may not be your ticket to have a financially good life.
It is good to know that there is someone who shared this information and thoughts about the previous price of bitcoin. This serves as an evidence that bitcoin will surely grow again much bigger than the previous all time high last december.
I also like to experience what you have experienced. From low to high to low and high again. That is a very nice experience.
I also like to experience what you have experienced. From low to high to low and high again. That is a very nice experience.
I never thought or found it reasonable for BTC to hit 20k by end of 2017, it just seemed wrong because it's just too crazy thing to happen, however, I was sure that BTC will be valued at 20k in a few years due to high demand and capped supply.
well the way bitcoin adoption always worked is that there are times when a large number of people suddenly find out about bitcoin and start FOMO buying it hence shooting the price up and creating a bubble.and bubble burst usually end up with a bear market.
i agree that $20k was unreasonable but also i say $6k-$7k-even $8k is just as unreasonable.
Quote
my point is, why the hell everyone thinks BTC is dead?
from what i can see there are two groups who are "making this statement" that bitcoin is dead.1. those who are trying to short bitcoin and make money so they need price to fall and they need more fear in the market so they spread FUD
2. newbies with 0 knowledge about bitcoin, trading and the market who fall for the FUD and lose money.
in short don't pay much attention to the stuff you read on the social media and most of the times on the news sites! they are mostly spreading FUD about bitcoin...
yes, I agree with you that in my opinion bitcoin is not just for us always thinking about profitability, I think as a crypto user we all have to think for things binding on the purpose of improving the features that are on bitcoin. I'm sure bitcoin is a virtual currency that has many benefits for human life so I hope every crypto user always thinks wisely about what they do in bitcoin-related activities.
The bottom of this year's price for BTC has not come yet, so I will not buy too many BTCs for the time being. When BTC's price reaches 5,000 to 6,000 USD, I think it is the best time to buy. Then, I still think that the price of BTC will increase in the second half.
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