history loves repeating itself. the only question is when! - page 4.

BrewMaster

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Quote from: el kaka22 on October 13, 2020, 04:23:57 AM

I do not understand how people get that number neither, there are tons of people who talk about 20k, 100k, even a million dollars, now 70k, how does those numbers calculated? Like is there a mathematical data behind these numbers? Or is it more like "ı just made it all up" type of situation?

it is not possible to say what everyone means when they say a number. some are just spamming, some are repeating like a parrot, some have their own analysis.
for example the $20k is more of a mental barrier that people set for themselves and it is more virtual than be real. it has always been the same with all previous ATH prices.
some other numbers such as $100k and $1 mil are mostly round numbers and with some extrapolation of data from the past 10 years accompanied by some technical analysis we can get there while rounding the price to the nearest round number such as $100k.
$70k i'd assume is the same with a little bit of pessimism included.

michellee

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Quote from: 3meek on October 12, 2020, 08:53:29 AM

I'm calm for the future of Bitcoin... But other coins raise doubts! What's the point in keeping a constantly cheaper asset? And that's while new, modified coins and tokens appear every day! You have to learn how to make a profit from alts and not to become a bagholder! Wink

You don't have to hold other coins if you doubt it will increase or it will stay at the bottom price. Holding bitcoin won't make you disappointed because when bitcoin price increases, you will see the price will jump to the highest price. We can not imagine how high the price, but we will see it for ourselves. The altcoin can help us get more bitcoin from trading, and now we have so many potential altcoins that can give us that way. We can search for the right coin to trade, so we can expect to profit in the next increases.

el kaka22

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Quote from: 3meek on October 12, 2020, 04:47:55 AM

It is interesting to know what kind of calculations you used when you got this figure? For me it is unreal to get a new ATH, more than the previous three times... All the more so in 2021! Bitcoin has a margin, derivatives, futures, Wallstreet after all ... I would have thought of 20K for a start ... Wink

I do not understand how people get that number neither, there are tons of people who talk about 20k, 100k, even a million dollars, now 70k, how does those numbers calculated? Like is there a mathematical data behind these numbers? Or is it more like "ı just made it all up" type of situation?

Because when you do say something like that, in bitcointalk it is not a problem because anyone can say anything they want, but when a person comes up and says something like this in any other nation, it becomes something bigger, like even legally wrong as well. For example in my nation if you write that "bitcoin will be 70k" and keep it up there without deleting, someone sees it and buys bitcoin and it doesn't get there in time, they can sue you for wrong information as well.

BrewMaster

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Quote from: Fundamentals Of on October 12, 2020, 07:06:56 AM

I also think the funds coming from Square is one of the reasons why the price of Bitcoin made a sudden rise. That was $50 million worth of money confirmed to have entered into Bitcoin. That must be relatively big enough for the price of Bitcoin to probably rise. That was not a tiny drop that won't cause a little wave in the price.

By the way, normally, when the news comes out the price is already moving opposite of the expected movement. That is the reason why the advice 'buy the rumor sell the news' was coined. Before something makes it to the news, the rumor is already causing people to act swiftly.

$50 million sounds huge when it is said alone because obviously it is 50 freaking million effing dollars.
but when it is said in comparison, it starts to seem like nothing. so lets take a look at some volumes. in past 24 hours there has been $60 million trading volume on Bitstamp alone. there is a total of $23.6 billion total trading volume of bitcoin in past 24 hours according to coinmarketcap. also in the past 24 hours $24 billion worth of bitcoin has been moved on bitcoin blockchain according to bitinfocharts.
so you see that number doesn't really look like much!

as for the news, it is all about timing. meaning if some positive news comes out right now and price starts reacting to it within the next 10 minutes then it is a good indication. but for example if it takes a day or two then there is no relationship.

3meek

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God, save BTC!

Quote from: goaldigger on October 12, 2020, 08:16:48 AM

Quote from: LFC_Bitcoin on October 10, 2020, 03:37:31 PM

The sooner you all stop being so bearish, the better. Traditional financial investments & fiat currencies are in the dirt, there is only one truly decentralized asset with an infinitely capped supply & that’s BTC.

We’re going to a new ATH & far beyond it next year.

I hope your bags are full because it’s going to be beautiful.

Cool

I’m bullish with the market and yes we have to start getting more good coins now, not just bitcoin but good altcoins as well, as much as possible. We have to stop dumping our precious coins to a cheaper price, I know we can’t pleased the whales but I’m sure they will stop from doing that so we finally welcome the great bull run. 2021 will become a different year, we will recover from the big loss this year so keep holding more.

I'm calm for the future of Bitcoin... But other coins raise doubts! What's the point in keeping a constantly cheaper asset? And that's while new, modified coins and tokens appear every day! You have to learn how to make a profit from alts and not to become a bagholder! Wink

beerlover

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Quote from: ?? on ??

Waiting for the bitcoin to move up and cross this 12000$ and if it can successfully do it and gets stable above it then we may see a good rise in the price. But the major thing is that will it move upwards form 12k levels or like last time will it drop back again as it did not get much support above that price range.

Unfortunately it could be anytime at any moment, last month you could have said it could be any moment now as well and technically speaking you wouldn't be wrong neither to say that at that moment because it "could" have been at any moment, but looking at today we are still saying it could be any moment now and it is still nowhere like that.

So in the end, I would say the best way to approach crypto would be to realize that you are not going to change anything yourself but the price can move anywhere very quickly when you look at it, technically speaking price could be $20k right now, just everyone all together declining to sell bitcoin under $20k ever again, and BAM you got yourself $20k+ price, technically it is possible but in practice that doesn't happen obviously. So, be ready for anything but realize you can't change it.

goaldigger

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Quote from: LFC_Bitcoin on October 10, 2020, 03:37:31 PM

The sooner you all stop being so bearish, the better. Traditional financial investments & fiat currencies are in the dirt, there is only one truly decentralized asset with an infinitely capped supply & that’s BTC.

We’re going to a new ATH & far beyond it next year.

I hope your bags are full because it’s going to be beautiful.

Cool

I’m bullish with the market and yes we have to start getting more good coins now, not just bitcoin but good altcoins as well, as much as possible. We have to stop dumping our precious coins to a cheaper price, I know we can’t pleased the whales but I’m sure they will stop from doing that so we finally welcome the great bull run. 2021 will become a different year, we will recover from the big loss this year so keep holding more.

Fundamentals Of

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Quote from: BrewMaster on October 11, 2020, 10:18:53 AM

those who are bringing up Jack Dorsey here and linking it to the current rise are forgetting that there is a big enough gap between the time that the news about Dorsey's investment came out and when the rise started. historically every single news that had caused any rise had no gaps, meaning the rise starts as soon as the news comes out if not a little sooner (insider information).

so this can't be because of that.

I also think the funds coming from Square is one of the reasons why the price of Bitcoin made a sudden rise. That was $50 million worth of money confirmed to have entered into Bitcoin. That must be relatively big enough for the price of Bitcoin to probably rise. That was not a tiny drop that won't cause a little wave in the price.

By the way, normally, when the news comes out the price is already moving opposite of the expected movement. That is the reason why the advice 'buy the rumor sell the news' was coined. Before something makes it to the news, the rumor is already causing people to act swiftly.

3meek

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God, save BTC!

Quote from: Wilhelm on October 10, 2020, 06:17:05 PM

Quote from: nelson4lov on October 10, 2020, 05:39:49 PM

If we're going to have a strong breakout in the market (I'm not talking about the regular 2% - 5% ups or downs), It would be in 2021. I just have a strong feeling about crypto going even bigger next year. Everytime Bitcoin has made the move towards $12K this year, the number of bitcoin shorts always seems to increase.

Quote from: CryptopreneurBrainboss on October 10, 2020, 03:20:06 PM

A famous example was the prediction of a massive raise in price after the halving of the block reward event but that wasn't the case. Although many already bought in anticipation of the event, which is why the post halving surge was more profitable than the immediately market reaction after the halving.

Contrary to popular opinions and beliefs, Bitcoin's price doesn't immediately grow immediately after a block reward halving event. My first experience was with the block halving back in 2016. We didn't see a strong upside move until mid 2017 extending to 2018. Mist people who bought into crypto merely for the strong upside move that was promised/hyped about would be disappointed now.

I'm still bullish on bitcoin and there's a high probability of seeing strong moves in the coming year.

Exactly. My calculations say that the new ATH will be next year July @70k.
So for now sideways with slow growth.
With covid the ATH could come later. We simply don't know....

It is interesting to know what kind of calculations you used when you got this figure? For me it is unreal to get a new ATH, more than the previous three times... All the more so in 2021! Bitcoin has a margin, derivatives, futures, Wallstreet after all ... I would have thought of 20K for a start ... Wink

justdimin

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Quote from: plr on October 10, 2020, 09:23:20 PM

Quote from: LFC_Bitcoin on October 10, 2020, 03:37:31 PM

We’re going to a new ATH & far beyond it next year.

I hope your bags are full because it’s going to be beautiful.

This is what I'm believing in, if history is going to repeat itself the best time for another all time high is next year 2021 probably second quarter, a year after the last halving it's what the past history tells us and it's what's going to tell us again.

I love being optimistic do not get me wrong I am also a investor in bitcoins for years now but setting sights as high as All-Time-High to be reached within the next year might be exaggeration and sometimes setting such goals might make you panic sell when a small drop happens because I can only think how one must feel when they believe that the ATH will be hit next year and instead a $500 sharp drop happens then such investors must panic sell and now I also understand slowly why so many guys panic sell, that's because of setting expectations too high and not being ready for a realistic drop.

I have good hopes for price next year too but I like to be a little pessimistic about pricing because when I am pessimistic about the price and it drops I never mind as much and would never panic sell but if it rises that gives me real good feeling and a sweet surprise.

gabbie2010

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Quote from: ?? on ??

Quote from: smyslov on October 11, 2020, 01:47:57 AM

Quote from: BrewMaster on October 09, 2020, 08:54:25 AM

The real question is when will it break free?
The market seems ready. The whales have accumulated enough and weak hands are getting FOMO_y to start buying again.
I say thinks are looking good...

It could be anytime now, remember when we are asking the same question when Bitcoin is staying longer in the $9000 and $10000 level but it eventually pulls up, with three months to go anytime could happen I'm very positive that Bitcoin will eventually reach $12000 before the end of the month or next month.

Waiting for the bitcoin to move up and cross this 12000$ and if it can successfully do it and gets stable above it then we may see a good rise in the price. But the major thing is that will it move upwards form 12k levels or like last time will it drop back again as it did not get much support above that price range.

Price had left $11000 for good and I believed in the next few days to come we will experience some pullback or retracement i.e price back and forth movement to resistance turned support at $11k before heading to the much anticipated $12K zone it can be within the next few months or weeks, price had already broken that strong resistance at $11K while waiting for history to repeat itself already the price future outlook is on a brighter note with the bulls taken over the market I hope there won't be any price manipulation by the whales or any major hack.

STT

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I was going to draw up a line of resistance just above the recent highs, it comes across from the closing weekly bars of 2019 summer high prices. Daily ranks below weekly for accuracy in theory and also we rose above these prices to 12k some weeks ago which makes me think its not a massive deal exactly or at least its not a simple line in the sand this time. However price action does appear positive at this moment and we'll see how it develops.

ie. res 11529 closing 1st week of August 2019 or the price we end this week at also. Its a ladder, closing above various levels helps confirm its continued positive progress like staying above 10500 and using it as a foothold to get here was positive.

BrewMaster

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those who are bringing up Jack Dorsey here and linking it to the current rise are forgetting that there is a big enough gap between the time that the news about Dorsey's investment came out and when the rise started. historically every single news that had caused any rise had no gaps, meaning the rise starts as soon as the news comes out if not a little sooner (insider information).

so this can't be because of that.

Fundamentals Of

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Quote from: DoublerHunter on October 10, 2020, 03:30:35 PM

Quote from: Fundamentals Of on October 10, 2020, 07:30:51 AM

Bitcoin's price history is going to come back. That is something definitely happening. But I don't think this is it. It might happen within the year or in the first quarter of next year, we don't know. But this specific sudden rise of the price may not exactly be the cue. I guess this is largely due to the sudden inflow of large investment funds especially Twitter's Jack. We'll see in the coming days if this particular pump holds.

^ Nah, that is probably a coincidence. Bitcoin price will never come back or repeat itself, probably it will have similarities of a pattern but it is definitely different from the previous one. I know that this is the most strategy of most traders here, they are looking for the previous chart and plotted to have technical analysis, but that is the wrong perception to me. You probably also take advantage of the daily news towards bitcoin because this brings some impact to the price of the market.

I am not particularly referring to patterns created by Bitcoin on the charts. I am also doubtful about technical analysis same as you. Anybody can create a lot of patterns on a single chart. Not to mention that charts could be zoomed in and zoomed out in terms of minutes, days, weeks, months, years.

The history that I am talking about is the price history. It is just a matter of when Bitcoin will come back at $20,000. It is definitely not a matter of whether it will happen or not. It will happen 100%.

Japinat

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Quote from: smyslov on October 11, 2020, 01:47:57 AM

Quote from: BrewMaster on October 09, 2020, 08:54:25 AM

The real question is when will it break free?
The market seems ready. The whales have accumulated enough and weak hands are getting FOMO_y to start buying again.
I say thinks are looking good...

It could be anytime now, remember when we are asking the same question when Bitcoin is staying longer in the $9000 and $10000 level but it eventually pulls up, with three months to go anytime could happen I'm very positive that Bitcoin will eventually reach $12000 before the end of the month or next month.

I'm also thinking that whales are waiting for the right time. HYPE can be possible anytime, people are waiting for that so long after seeing it last 2017. But I was not really confident that it happens this year, chances are very slim. Though the market trend seems so strong and the resistance level keeps rising, still it leaves no assurance for huge market growth which I only thinking of $13000 to $14000 range.

smyslov

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Quote from: BrewMaster on October 09, 2020, 08:54:25 AM

The real question is when will it break free?
The market seems ready. The whales have accumulated enough and weak hands are getting FOMO_y to start buying again.
I say thinks are looking good...

It could be anytime now, remember when we are asking the same question when Bitcoin is staying longer in the $9000 and $10000 level but it eventually pulls up, with three months to go anytime could happen I'm very positive that Bitcoin will eventually reach $12000 before the end of the month or next month.

adaseb

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This move is most likely because its following the correlation with the stock market. Basically Trump beat Covid19 and the stock market indices all closed higher and broke their prior resistance and so did bitcoin.

You should becareful with weekend moves on Bitcoin because sometimes they can easily be traps. So the line in the sand now is the $11100 support area which was previous resistance. If it closes below this area on the weekly chart then its very bearish and we might retest the $10000 area once again.

Currently since its the weekend there isn't much news to go on but the stock market open on Sunday night should give us some direction of what is to come next.

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Quote from: plr on October 10, 2020, 09:23:20 PM

Quote from: LFC_Bitcoin on October 10, 2020, 03:37:31 PM

We’re going to a new ATH & far beyond it next year.

I hope your bags are full because it’s going to be beautiful.

This is what I'm believing in, if history is going to repeat itself the best time for another all time high is next year 2021 probably second quarter, a year after the last halving it's what the past history tells us and it's what's going to tell us again.

I also believe that it will happen soon. We must use this time to buy more and more bitcoin while we still have time because once the price starts to rally, we will be too late to buy bitcoin at a low price. Perhaps we will not have a chance to buy bitcoin at less than $15k if we decide to buy it later or are afraid of bitcoin price volatility.

But that will depend on each people because we can't force them to just bitcoin and hold it for a while. Perhaps, we can use another strategy to increase the bitcoin amount that we have by trading, so we will have the opportunity to make more bitcoin from trading. But trading will only for people who know about trading and have skills because it will be difficult to analyze the bitcoin price moves.

plr

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Quote from: LFC_Bitcoin on October 10, 2020, 03:37:31 PM

We’re going to a new ATH & far beyond it next year.

I hope your bags are full because it’s going to be beautiful.

This is what I'm believing in, if history is going to repeat itself the best time for another all time high is next year 2021 probably second quarter, a year after the last halving it's what the past history tells us and it's what's going to tell us again.

Wilhelm

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Quote from: nelson4lov on October 10, 2020, 05:39:49 PM

If we're going to have a strong breakout in the market (I'm not talking about the regular 2% - 5% ups or downs), It would be in 2021. I just have a strong feeling about crypto going even bigger next year. Everytime Bitcoin has made the move towards $12K this year, the number of bitcoin shorts always seems to increase.

Quote from: CryptopreneurBrainboss on October 10, 2020, 03:20:06 PM

A famous example was the prediction of a massive raise in price after the halving of the block reward event but that wasn't the case. Although many already bought in anticipation of the event, which is why the post halving surge was more profitable than the immediately market reaction after the halving.

Contrary to popular opinions and beliefs, Bitcoin's price doesn't immediately grow immediately after a block reward halving event. My first experience was with the block halving back in 2016. We didn't see a strong upside move until mid 2017 extending to 2018. Mist people who bought into crypto merely for the strong upside move that was promised/hyped about would be disappointed now.

I'm still bullish on bitcoin and there's a high probability of seeing strong moves in the coming year.

Exactly. My calculations say that the new ATH will be next year July @70k.
So for now sideways with slow growth.
With covid the ATH could come later. We simply don't know....

Topic: history loves repeating itself. the only question is when! - page 4. (Read 962 times)