Topic: Huge drop happening within 48 hours! (Update: BTC Price on Sept 5th) - page 2. (Read 1224 times)

If it continues to drop like this, it may reach 15k until 5th of September.
You know that predictions are hard. You should have left the first half-miss be what it is. Claiming that you were right and then making another prediction.. you know that you've lost quite some credibility. And, after all, it was for nothing.

Bitcoin has a very funny character, and it is when everyone is going this way that bitcoin usually decide to go the other way, I remember that before that price drop as claimed by op that he predicted, many people had already talked about bitcoin reaching another milestone soon, but in the mist of that hype and discussion, bitcoin dropped its surprises by going low to the greatest surprise of people.

Right now, that we are having lots of people thinking the opposite direction again as bitcoin going that low, I am sure that the price would start skyrocketing and many people would still wonder why it is like this. The 5th of September is almost here, it is then I would really decide if this op is real of he is just doing some guessing work, fingers crossed tight.

I think this type of posts creates manipulation like many other guys making youtube videos etc telling they are pro analists when they are only pseudo and sometimes not knowing nothing about math odds.

Only a big catastrophe can stop bitcoin, so, there is no reason to be afraid and not to HODL, trading is just a waste of time!

Predictions are only predictions its the same as get 10 times in a row BLACK in a casino roulette, the chances of RED are the same as BLACK!

The only thing that counts to me its production price and i have my formula to analyze if price is too high or too low:

1 BTC = MMC (Mining Machines Cost) x EC (Energy Cost) x TTM (Time To Mine)

In this formula i consider the EC the less relevant, anybody can have almost free energy, many people have free energy like the owners of electrical companys or big hidroeletric places, or big solar panel plants, etc, so, the most dificultty its buying machines like you can see now that its very hard to buy machines, almost of them SOLDOUT and need to pay advanced.., to finish another variable very important is TTM, we cant buy TIME and need to calculate it well with hashrate predictions that are never friendly, just to figured out the hashate since 2017 its 8x more!

If people does well that calculations bitcoin would never be manipulated and have so much volatility, that happens because people dont know how to apply this formula and runs to buy or sell after someone post something in the internet !

your problem is that you think falling to $9400 and $8000 are the same thing! well, they are not. in fact it doesn't get any more different than that.
falling to $9400 (although still big) was not abnormal. it was a price that we have been seeing for the past 1.5-2 months as i mentioned in this topic before. so basically we are still in the same range as we were for the past 2 months.
but falling to $8000 is another 15% lower than what we had established as the bottom of this sideways action.

nobody is disputing the price going "sideways", they are disputing your unreasonable expectations.

any change in heart now that price is in the $10400s? the market's already regained all the losses from last week's dump.

it's painting a bullish engulfing on the weekly chart---though the candle won't close until next sunday so there's still time for bears to show their teeth. i'm still a bit skeptical we're reversing to a bull market already. after 2 months of trolling, we need more evidence. but i will say, this last move up was unexpectedly strong.

We cant still conclude yet even he would have that back to back good prediction but somehow its already a considerable reason for this guy to be followed.

I'm not a technical savvy person or do agree with it anytime but there are people who are really good on reading it up.Lets see if the 2nd prediction of price would hit up
on the right intensity.

Looking at the huge drop and the first message it did already happened. Maybe the second one at 5th of September around $8k range may not happen we don't know that yet but the first one was about going under 10k and that already happened.

If nothing else this dude got the first drop right, maybe the second drop he could turn out to be wrong but at least that makes him 50% right about the drops he listed, if it happens that it makes him 100% back to back right on two occasions and I would totally mark this as important and keep checking on the OP and what he thinks market will do, there are rarely ever any person on this forum that gets the falls or ups correctly back to back giving proper timing on it as well, this is actually the first one I will see if it happens.

If you analysis precisely you will see that a bitcoin is moving between the support and resistance for last 20 to 25 days.  I am sure this will not last long and either of the two things will happen soon that

- bitcoin will jump high to $13,000
- Or it may dump below $9,000

As a TA skeptic, I agree with this of course--but OP was right about a big drop; he even had the timeframe correct, he just didn't have the correct magnitude.  Can't say I'm totally impressed, but he wasn't very far off.

Hey OP, did you happen to make any money from your prediction?  For any technical analyst, that's what counts IMO.  If you'd shorted bitcoin above $10k you would have come out ahead in the past 72 hours.

This was a nice speculation and had he got this one right then, we would have made decisions based on his analysis as and when he would have provided them. It’s fair to say that the op is a bear trader who’s trying hard to convince us that $8k is coming, first it was 48 hours and now date has changed and it’ll continue to change. This post only proves one thing that no one can predict bitcoin prices, and one should always do their own research before buying or selling.

disagree with your sentiment , while the market seems to not bullish at the moment
we saw thousands of coins sold across exchanges two days ago which could have caused a big drop in price
if traders started to sell and short , we saw support at 9400$ and then stabilization at 9500$ instead



I think your estimation of 8200-8600 $ range is wrong too
we can only make educated guesses , but mine is that we will stay in 9300-9800$ range for the next week
with a higher chance to break 10k level than to drop below 9000$

Its saturday and I dont want to always look for loopholes in your analysis, we have only seen $9700 but not over 10k in the last 24 hrs. The expected manipulation by price reduction was for more accumulation by whale before Bakkt launch. The predicted news is carefully managed.

We dropped almost $1000 (10,300–>9,400) in that 48 hour period. I predicted it would hit 8K region and it didn’t quite get there in 48hours...but no one is disputing the “48 hour huge drop” part of the prediction. That part was right.

Certainly, its possible, but the OP said 48 hours, its on the title.

Im holding to buy anything right now, because the market is undecided as where to go.

Give it some time. 48 hours was unrealistic to begin with. But the general idea ($8K range) is still possible, even likely. Higher time frames are clearly in a downtrend and we're only hovering a few hundred dollars above the July bottom. A general rule in trading is that if the market keeps hammering the same support (in this case the low $9,000s) over and over, it's likely to break.

48 hours have passed and we didnt had a "huge drop". Instead the price just touched the four digits area, providing a new buying opportunity.

These bear traps will become more common as time passes. And of course, there will be people screaming for 3k. Dont forget the CSW shills and their mathematical FUD.

This is part of the cycle. If you look at the standard bubble chart you'll notice there is a bear trap period before it goes up.

I don't care about the 5th of September deal, I hope the price will go up like he says this weekend because I do have to cash out come this Monday (Sunday night, doesn't matter) and that means if the price goes up above 10k for even a bit than I can cash out at the peak and than if it falls, nothing I can do about it.

However, if it stays around these numbers or even go down than I am pretty much screwed, I do have some more money stashed away but I prefer not to use them, I would like to spend the money I earned instead of cashing out my investments however lately my country became more and more expensive because of high inflation rate and money I am making is becoming less and less worthy here and I am not entirely sure how I can survive if bitcoin doesn't go up, I may have to soon cash out all my money to keep surviving and after that I have no clue what I could do. Hence for the love of god please increase bitcoins price

Been HODLING BTC since $200. You are wrong.

Hey OP, you could be right and it could also have been a coincidence, because I usually believe that what the market follows is speculation, and news, something must have happened that made it look that way because chart are more useful for trading activities, but remember that we also have some long term holders here in very large amount of bitcoin, which could drop drastically if someone drops his high holdings probably out of panic as a result of FUD news.

I would not completely rule out the fact that your chart worked, I think we will now better if bitcoin eventually drops low to that $8000 which I honestly don’t hope to see because I had bought at $9700 with a money that I urgently needed for something for my family upkeep.